Slide 1: 4Q 2024 Earnings Results
4Q 2024 Earnings Results Nasdaq: NEO February 18, 20251
Slide 2: Safe Harbor Statements
Safe Harbor Statements This presentation has been prepared by NeoGenomics, Inc. (“we,” ”us,” “our,” “NeoGenomics” or the “Company”) and is made for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy securities, nor shall there be any sale of any
Slide 3: Mission and Vision
Mission We save lives by improving patient care. Vision We are becoming the world’s leading provider of comprehensive cancer testing, data and solutions through uncompromising quality, exceptional customer experience, and innovative products and services. 3
Slide 4: Momentum Continues
Momentum Continues Clinical Volume (unit thousands) 322 9% Clinical Revenue Per Test 5% $465 $463 4Q 2024 Highlights 312 315 $454 • Double digit revenue growth 301 $447 • Testing volumes increased 9% vs prior year $441 295 • Adjusted Gross Margin increased to 48% • 24% growth in Clinical NGS revenue
Slide 5: Updating Long Range Financial Plan
Updating Long Range Financial Plan 2025 LRP Accelerate Top Line Growth • Annual Base Revenue growth 12-13%, including 12-13% * NGS growth of ~25% per year JPM Update • Continued investment in Sales and Marketing to drive top line growth FY'24 Guidance • Accelerated investments in R&D, including MRD
Slide 6: Cancer prevalence continues to rise
Cancer prevalence continues to rise 80% of cancer patients 1 in 2 men and receive care in the community setting2 1 in 3 women will develop cancer in their lifetime1 1: American Cancer Society (ACS), NHS UK, Cancer Research UK, National Cancer Institute (NCI) 2: NIH National Library of Medicine “Geog
Slide 7: Sustainable Growth – Clinical
Sustainable Growth – Clinical Key Growth Profitably Grow Clinical Revenue Drivers Clinical Revenue in 4Q ’24) • Q4 volume grew 9% $millions 4Q ’22 – R( CAG $150 • NGS grew 24% nue $146 Reve $141 • Expansion of 18% $130 $135 $128 Commercial $123 Organization with $115 focus on community $108 oncology
Slide 8: Sustainable Growth – Commercial Investments
Sustainable Growth – Commercial Investments Clinical Nonclinical • 300+ New customer interfaces, 3x • New sales model aligns with Pharma increase over 2023 buying process to shorten sales cycles • 11% Annual improvement in TAT • New Go-To-Market strategy aligns with • 74 Net Promoter Score, up from
Slide 9: Sustainable Growth – Innovation
Sustainable Growth – Innovation PRODUCTS STUDIES RESEARCH Expanding Breadth of Menu Generating Clinical Evidence Developing a Dedicated • Launching new tests to further NGS • Participating in outcomes-based clinical MRD Research Program growth and gain market share: studies that help drive adoption
Slide 10: Sustainable Growth – Margin Expansion
Sustainable Growth – Margin Expansion Executing the Adjusted Gross Margin 47.9% Strategy 46.3% 45.5% • Drove 240 bps of gross margin improvement in 43.8% the second half of 2024 43.2% over prior year through productivity and the use of automation • Combining Clinical and 37.9% Pharma workflow • Auto
Slide 11: 4Q 2024 Financial Results
(NEO GENOMICS. 4Q 2024 Financial Results
Slide 12: 4th Quarter 2024 Financial Highlights
4th Quarter 2024 Financial Highlights • Total Quarter Revenue Revenue Adj. Gross Profit Increased 11% Up 11% Up 14% • 24% revenue growth in Clinical NGS to $172M to $83M • Adjusted Gross Margin increased to 48% an improvement of 128 bps • Adjusted EBITDA increased Clinical Volume Adj. EBITDA to posi
Slide 13: 4th Quarter Revenue Results
4th Quarter Revenue Results 172 • Revenue Grew 11% to $172M 168 • Clinical Revenue per Test 165 Improved 5% Due to Mix and Pricing 156 156 152 • RCM Initiatives Contributing to Revenue Growth 147 137 Q1 Q2 Q3 Q4 2023 Revenue 2024 Revenue Quarterly financial information is unaudited. Growth correspon
Slide 14: 4th Quarter Financial Overview
4th Quarter Financial Overview Financial Statement In $Millions 4Q’23 4Q’24 %vPY Revenue $155.6 $172.0 10.6% Adjusted Gross Profit $72.7 $82.5 13.6% Adjusted Gross Margin 46.7% 48.0% 128 bps Adjusted EBITDA $9.3 $11.9 27.0% Adjusted EBITDA Margin 6.0% 6.9% 89 bps Cash and cash equivalents $342.5 $36
Slide 15: Full Year 2024 Financial Highlights
Full Year 2024 Financial Highlights • Total Annual Revenue Revenue Adj. Gross Profit Increased 12% Up 12% Up 18% • 34% revenue growth in Clinical NGS to $661M to $311M • Adjusted Gross Margin increased to 47.1% an improvement of 245 bps Cash Flow from Adj. EBITDA • Adjusted EBITDA increased Operatio
Slide 16: FY 2025 Guidance
FY 2025 Guidance Low High Guide ($ Millions) YoY% Growth ($ Millions) YoY% Growth Revenue $735 11% $745 13% Adj. EBIDTA $55 38% $58 45% Strategic Focus to Drive Long-Term Sustainable Growth AEBITDA Growth Exceeds Revenue Growth Due to Improving Gross Profit and Operating Leverage Continue to Invest
Slide 17: Summary
Summary • Momentum continues with a strong quarter; revenue growth of 11%, volume growth of 9%, and 27% Adj. EBITDA improvement. • 2024 Full Year revenue growth was 12% and Adj. EBITDA was $40M. • Increased focus in 2025 on R&D and Business Development to drive innovation • Key strategic initiatives
Slide 18: All rights reserved
© 2024 NeoGenomics Laboratories, Inc. All rights reserved. All other trademarks are the property of their respective owners. Rev. MMDDYY 18
Slide 19: Appendix
Appendix 19
Slide 20: Balance Sheet
December 31, 2024 December 31, 2023 ASSETS Current assets Balance Cash and cash equivalents $ 367,012 $ 342,488 Marketable securities, at fair value 19,832 72,715 Accounts receivable, net 150,540 131,227 Sheet Inventories Prepaid assets Other current assets 26,748 20,165 11,722 24,156 17,987 8,239 D
Slide 21: Income Statement
Three Months Ended December 31, Years Months Ended December 31, 2024 2023 2024 2023 NET REVENUE $ 172,000 $ 155,552 $ 660,566 $ 591,643 Income COST OF REVENUE 94,743 87,964 370,466 347,039 Statement GROSS PROFIT Operating expenses: General and administrative 77,257 63,643 67,588 59,758 290,100 259,7
Slide 22: Statements of Cash Flows
Years Ended December 31, 2024 2023 CASH FLOWS FROM OPERATING ACTIVITIES Statements of Net loss $ (78,726) $ (87,968) Adjustments to reconcile net loss to net cash provided by operating activities: Cash Flows Depreciation 39,101 37,450 Amortization of intangibles 33,446 35,133 December 31, 2024 Stock
Slide 23: Adjusted Gross Margin
Three Months Ended December 31, Years Ended December 31, % % 2024 2023 Change 2024 2023 Change Adjusted Consolidated: Total revenue (GAAP) $ 172,000 $ 155,552 10.6 % $ 660,566 $ 591,643 11.6 % Gross Margin Cost of revenue (GAAP) $ 94,743 $ 87,964 7.7 % $ 370,466 $ 347,039 6.8 % Adjustments to cost o
Slide 24: Adjusted EBITDA
Three Months Ended December 31, Years Ended December 31, Adjusted 2024 2023 2024 2023 EBITDA Net loss (GAAP) $ (15,324) $ (14,326) $ (78,726) $ (87,968) Adjustments to net loss: December 31, 2024 Interest income (4,328) (4,845) (18,427) (16,902) (unaudited, in thousands) Interest expense 1,624 1,681
Slide 25: Adjusted EBITDA 2025 Guidance
Year Ended December 31, 2025 Low Range High Range Adjusted Net loss (GAAP) $ (85,000) $ (76,000) Amortization of intangibles 34,000 34,000 EBITDA Stock-based compensation 50,000 46,000 Other one-time expenses 20,000 20,000 2025 Guidance Adjusted net loss (non-GAAP) Interest and taxes 19,000 (7,000)