NEO - NeoGenomics maintains fiscal 2023 guidance; says improving trends to continue

2023-04-04 16:12:08 ET

• NeoGenomics ( NASDAQ: NEO ) is maintaining its previously issued fiscal 2023 revenue and earnings guidance, adding that improving financial trends that began in 2022 are expected to continue this year.
• The company is projecting FY 2023 revenue of $545M to $555M. Consensus is $549.97M.
• For the year, it is still estimating an adjusted EBITDA loss of $22M to $27M. But in Q4, it is expecting positive EBITDA, and positive EBITDA in fiscal 2024.
• Over the next five years, annual base revenue is projected to grow 7%-9%.
• In 2023, the NeoGenomics' ( NEO ) cash burn is expected to be $50M-$60M, according to an Investor Day presentation made on Tuesday. From 2025 and later, the company expects to be cash flow positive.
• Despite the presentation, NeoGenomics ( NEO ) closed Tuesday down ~8% .
• Read why Seeking Alpha contributor Zach Bristow rates NeoGenomics ( NEO ) a hold.

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