NeoGenomics reports Q3 adjusted EPS 3c, consensus 2c

Reports Q3 revenue $187.8M, consensus $183.85M. “During the third quarter, we again delivered strong clinical test volumes and revenue while advancing our long-term growth initiatives in therapy selection and MRD – two of the largest and fastest growing areas of cancer testing with significant unmet needs,” stated Tony Zook, CEO of NeoGenomics (NEO). “Total revenue of $188 million increased 12% year-over-year, driven by the continued expansion of our clinical business, which grew by 18%. Notably, NGS grew 24% year-over-year, well ahead of the low-to-mid-teens NGS market growth rate, and now accounts for nearly one-third of our clinical revenue. I am pleased with how the core business is tracking, notwithstanding continued weakness in non-clinical revenue, which we anticipated and incorporated into the full-year guidance that we are re-affirming today.”