In This Article:
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Long-Range Plan reflects 12-13% revenue growth annually
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Presentation and webcast at 43rd Annual J.P. Morgan Healthcare Conference today, Wednesday, January 15, at 1:30 p.m. PT / 4:30 p.m. ET
FT. MYERS, Fla., January 15, 2025--(BUSINESS WIRE)--NeoGenomics, Inc. ("NeoGenomics" or the "Company") (NASDAQ:NEO), a leading oncology testing services company, today provided financial guidance for fiscal year 2025 and updated its Long-Range Financial Plan.
"We enter 2025 with our patient-centric strategy in place, focusing on product innovation, further optimization and expansion of our commercial organization, and enhancing operational efficiencies," said Chris Smith, chief executive officer of NeoGenomics. "Building on the strong momentum of double-digit revenue growth and margin expansion we have delivered over the last few years, we are updating our Long-Range Plan and now expect revenue growth of 12-13% annually, while expanding our leadership position in oncology testing."
2025 Financial Guidance
NeoGenomics is providing financial guidance1 for 2025. The Company expects total revenues in the range of $735 million to $745 million and adjusted EBITDA in the range of $55 million to $58 million.
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| FY 2024 Guidance |
| FY 2025 Guidance |
| YoY % Change from FY'24 | ||||
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| ($ millions) |
| Midpoint |
| Low |
| High |
| Low |
| High |
| Total Revenue |
| $661 |
| $735 |
| $745 |
| 11% |
| 13% |
| Adj. EBITDA |
| $38.5 |
| $55 |
| $58 |
| 43% |
| 51% |
With a strong cash position, we currently expect to retire the 2025 convertible notes maturing on May 1, 2025, with cash on hand.
Long-Range Growth Plan
The Long-Range Plan builds upon the successful execution of the previous three years. NeoGenomics intends to achieve the following:
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12-13% revenue growth annually, including NGS growth of ~25% per year2
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Gross margin expansion of 100-150 bps per year
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Adjusted EBITDA improvement of 250-300 bps per year
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Positive cash flow from operations in 2025 and beyond
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Serving more than 1 million patients annually by 2028 and beyond
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1 The Company reserves the right to adjust this guidance at any time based on the ongoing execution of its business plan. Current and prospective investors are encouraged to perform their own due diligence before buying or selling any of the Company’s securities, and are reminded that the foregoing estimates should not be construed as a guarantee of future performance.
2 Revenue growth excludes MRD
About NeoGenomics
NeoGenomics, Inc. is a premier cancer diagnostics company specializing in cancer genetics testing and information services. We offer one of the most comprehensive oncology-focused testing menus across the cancer continuum, serving oncologists, pathologists, hospital systems, academic centers, and pharmaceutical firms with innovative diagnostic and predictive testing to help them diagnose and treat cancer. Headquartered in Fort Myers, FL, NeoGenomics operates a network of CAP-accredited and CLIA-certified laboratories for full-service sample processing and analysis services throughout the US and a CAP-accredited full-service sample-processing laboratory in Cambridge, United Kingdom.