Q1 2026 Neogenomics Inc Earnings Call Transcript
Key Points
- NeoGenomics Inc (NEO) reported a strong 11% year-over-year revenue growth for Q1 2026, exceeding guidance.
- The company's clinical revenue increased by 14% year-over-year, driven by effective execution of their commercial strategy.
- NGS (Next-Generation Sequencing) revenue grew 26%, significantly outpacing the market growth rate.
- The launch of RaDaR ST and MolDx approval for PanTracer liquid biopsy opened up large addressable markets.
- NeoGenomics Inc (NEO) is expanding its sales force to capture emerging opportunities in advanced cancer testing.
- The non-clinical business reported a 15% decline in revenue year-over-year, primarily due to softness in the pharma sector.
- Adjusted gross margin decreased by 80 basis points compared to last year, impacted by the Pathline acquisition and PanTracer liquid launch.
- High freight costs and fuel surcharges due to geopolitical situations negatively affected margins.
- The company is exiting a high-volume, low-value contract, which may impact volume growth in the short term.
- There is uncertainty around the timing of commercial payer rates for new products like RaDaR ST and PanTracer liquid biopsy.
Good afternoon and welcome to the Neogenomics first quarter 2026 financial results call.
Please be advised that today's conference is being recorded.
I will now turn the call over to Priya Vedaraman, Senior Vice President of Finance.
Thank you, Matthew, and good afternoon, everyone. Welcome to Neogenomics first quarter 2026 financial results call.
With me today to discuss the results are Tony Zook, Chief Executive Officer; Abhishek Jain, Chief Financial Officer; and Warren Stone, President and Chief Operating Officer.
Additional members of the management team will be available for the Q&A portion of our call.
This call is being simultaneously webcast. You will know that we will be advancing through a brief slide presentation to accompany today's call. We have also made the presentation available on the Investors tab of our website at ir.neogenomics.com.
During this call, we will make forward-looking statements regarding our future
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