NeoGenomics Posts $186.7M Q1 Revenue, Raises 2026 Guidance

NeoGenomics, the cancer diagnostics company headquartered in Fort Myers with laboratory and clinical operations that serve oncology patients across South and Central Florida, reported $186.7 million in first-quarter 2026 revenue — an 11% increase year over year — and raised its full-year guidance after a stronger-than-expected start to the year.

The clinical testing division, which drives the bulk of the company's business, generated $171.2 million in the quarter, growing 14% from the same period in 2025. Growth came from two directions: test volumes climbed six percent while the average price per test rose eight percent. This combination signals both higher demand and a deliberate shift toward more sophisticated, higher-value genomic panels.

For cancer patients on the Treasure Coast, many of whom rely on oncology networks that route specialized genomic testing to outside laboratories, the company's performance reflects broader momentum in precision diagnostics that increasingly shapes treatment decisions at cancer centers throughout the region.

Next-generation sequencing revenue grew 26% year over year and now represents roughly one-third of all clinical revenue, outpacing the overall NGS market. NeoGenomics also secured Medicare coverage approval in March for its PanTracer Liquid blood-based cancer test and completed the full clinical launch of RADAR ST, a molecular residual disease assay targeting head and neck and certain breast cancers.

Adjusted EBITDA for the quarter reached nine million dollars, up 27% year over year, while cash reserves stood at $146 million at quarter's end. Operating cash outflows shrank to $8.1 million from $25.3 million in the prior-year period.

Headwinds remain. Non-clinical revenue fell 15% to $15.5 million, driven by weakness in pharmaceutical partnerships. Adjusted gross margin slipped 80 basis points to 46%, partly reflecting costs from the Pathline acquisition and the PanTracer Liquid launch before Medicare reimbursement was secured. Higher freight and fuel costs tied to global shipping pressures also trimmed margins.

Management raised full-year 2026 revenue guidance to a range of $797 million to $803 million and said it plans to add approximately 25 sales representatives by the third quarter to support new product launches.

This article was generated with AI assistance using publicly available information. It was reviewed and approved by a human editor before publication. TC Sentinel uses AI writing tools in accordance with FTC guidelines.