Why Is Cancer Genetics Test-Focused NeoGenomics Stock Trading Higher Today?

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Tuesday, NeoGenomics Inc (NASDAQ:NEO) reported fourth-quarter 2023 adjusted EPS of $0.03, a turnaround from a loss of $(0.06), beating the consensus of $(0.02).

The company reported sales of $155.55 million, up 12.1% Y/Y, beating the consensus of $152.54 million.

Clinical Services revenue of $130 million increased 20% Y/Y. Clinical test volume increased by 6%. Average revenue per clinical test increased by 13% to $441. 

Advanced Diagnostics revenue decreased by 17% to $25 million compared to the fourth quarter of 2022.

The adjusted gross profit margin reached 46.7%, up from 44.5% a year ago.

Also Read: US Court Prohibits NeoGenomics To Sell Type Of Diagnostic Kits To Detect Smaller Number Of Cancer Cells, Favoring …

Full story available on Benzinga.com


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