NEOGENOMICS Reports 17.5% Year-Over-Year Increase in FY 2023 Second Quarter Revenue of $146.9 Million
August 10, 2023
☀️Earnings Overview
For the Fiscal Year 2023 Second Quarter ending June 30 2023, NEOGENOMICS ($NASDAQ:NEO) reported a total revenue of USD 146.9 million, an increase of 17.5% when compared to the same period in the previous year.
Analysis
GoodWhale has conducted a thorough analysis of NEOGENOMICS‘ fundamentals and have determined it to be a high risk investment, both financially and business-wise. Through our Risk Rating system, we have detected three risk warnings on the company’s income sheet, balance sheet, and cashflow statement. To find out more about these risks, become a registered user today and unlock our full range of financial analysis tools. With GoodWhale, you can be sure that you’re making the safest investment decisions possible. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Neogenomics. More…
| Total Revenues | Net Income | Net Margin |
| 551.62 | -114.67 | -18.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Neogenomics. More…
| Operations | Investing | Financing |
| -34.2 | 33.43 | 6.2 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Neogenomics. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.7k | 738.92 | 7.49 |
Key Ratios Snapshot
Some of the financial key ratios for Neogenomics are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 10.9% | 29.1% | -22.4% |
| FCF Margin | ROE | ROA |
| -11.6% | -8.0% | -4.5% |
Peers
Its competitors include Dr Lalchandani Labs Ltd, Eurofins Scientific SE, and Quest Diagnostics Inc.
– Dr Lalchandani Labs Ltd ($BSE:541299)
Lalchandani Labs Ltd is a pharmaceutical company with a market cap of 134.33M as of 2022. The company has a Return on Equity of 10.86%. The company manufactures and markets generic drugs and pharmaceuticals.
– Eurofins Scientific SE ($LTS:0MV5)
Eurofins Scientific is a global leader in food, environmental, pharmaceutical and cosmetics products testing. With a network of over 800 laboratories in 47 countries, Eurofins offers a comprehensive range of services to clients globally. The company’s products and services are used by clients in the food, pharmaceutical, cosmetics, environmental, and consumer goods industries. Eurofins has a market cap of 12.5B as of 2022 and a ROE of 12.32%. The company’s products and services are used by clients in the food, pharmaceutical, cosmetics, environmental, and consumer goods industries.
– Quest Diagnostics Inc ($NYSE:DGX)
Quest Diagnostics is a medical testing company with a market cap of $16.36B as of 2022 and a ROE of 17.57%. The company provides diagnostic testing, information and services to patients, physicians and other healthcare providers. Quest Diagnostics is a leading provider of diagnostic testing, information and services. The company’s diagnostic testing helps to detect, diagnose and treat conditions and diseases. Quest Diagnostics also provides information and services to patients, physicians and other healthcare providers.
Summary
NEOGENOMICS reported strong second quarter financial results ending June 30 2023, with total revenue of USD 146.9 million, a 17.5% year over year increase. Net income for the quarter was reported at USD -24.3 million, a marked improvement over the prior year’s figure of USD -35.3 million. Despite these results, the stock price declined on the same day, indicating that investors may be expecting more out of the company in terms of profitability or performance. Nevertheless, NEOGENOMICS remains an attractive investment option for those seeking exposure to the diagnostics industry.
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