- NeoGenomics ( NASDAQ: NEO ) stock rose ~22% on Thursday after Q4 results beat estimates.
- Adjusted diluted EPS was -$0.06, compared -$0.14 in Q4 2021, surpassing estimates.
- Total net revenue grew +10% Y/Y to $138.71M.
- Clinical Services revenue increased +4% Y/Y to $108.17M, while Pharma Services revenue grew +41% Y/Y to $30.54M.
- "I am proud of the team's dedication to providing transformative cancer care for patients and providers and of the progress made in the fourth quarter as our organizational changes began to show results and we capped the year off with another sequential quarter of revenue, gross margin and adjusted EBITDA improvement," said
- Average revenue per clinical test increased by 2% to $389.
- Net loss narrowed to -$22.69M, compared to -$41.76M in Q4 2021.
- The company noted that cash and cash equivalents and marketable securities were $438M at the end of Q4.
- Outlook :
- NeoGenomics expects full year 2023 adjusted EPS to be between -$0.38 and -$0.32 ( consensus -0.53).
For further details see:
NeoGenomics surges ~20% as Q4 revenue grows, net loss narrows; FY23 outlook above estimates