Slides
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Q4 and FY 2025 Financial Results February 17, 2026 Nasdaq: NEO
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Safe Harbor Statements This presentation has been prepared by NeoGenomics, Inc. (“we,” ”us,” “our,” “NeoGenomics” or the “Company”). Statements contained herein are made as of the date of this presentation unless stated otherwise. This presentation includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as “anticipate,” “expect,” “plan,” “could,” “would,” “may,” “will,” “believe,” “estimate,” “forecast,” “goal,” “project,” “guidance,” “plan,” “potential” and other words of similar meaning, although not all forward-looking statements include these words. These forward-looking statements address various matters, including the Company’s strategy, future operations, future financial position, future revenues, changing reimbursement levels from government payers and private insurers, expected synergies of the PathlineAcquisition, the timing, performance and anticipated benefits of collaboration, partnership and licensing activities, projected costs and capital expenditures, prospects and plans, and objectives of Management. Each forward-looking statement contained in this presentation is subject to a number of risks and uncertainties that could cause actual results todiffer materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company’s ability to identify and implement appropriate financial and operational initiatives to improve performance, to assemble and maintain an effective executive team, to continue gaining new customers, offer new typesof tests, integrate its acquisitions, manage the effects of seasonality, execute on its long-range strategic priorities, and otherwise implement its business plans, and the risks identified under the heading “Risk Factors” contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2024, and filed with the SEC on February 18, 2025, as well as subsequently filed Quarterly Reports on Form 10-Q and the Company's other filings with the Securities and Exchange Commission. We caution investorsnot to place undue reliance on the forward- looking statements contained in this presentation. You are encouraged to read our filings with the SEC, available at www.sec.gov and on our website at www.neogenomics.com, for a discussion of these and other risks and uncertainties. The forward-looking statements in this presentation speak only as of the date of this presentation (unless another date is indicated), and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties. Information contained in this presentation concerning our industry and the markets in which we operate, including our generalexpectations and market position, market opportunity and market size, is based on information from various sources, on assumptions that we have made that are based onsuch information and other similar sources and on our knowledge of, and expectations about, the markets for our service offerings. This information involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. In order to provide greater transparency regarding our operating performance, the financial results and financial guidance inthis presentation refer to certain non-GAAP financial measures, such as adjusted EBITDA, adjusted gross margin, adjusted gross profit, adjusted gross profit margin, adjusted diluted EPS and adjusted net income, that involve adjustments to GAAP results. These non-GAAP financial measures exclude certain income and/or expense items that management believes are not directly attributable to the Company’s core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. Management believes that the presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors by facilitating the analysis of the Company’s core test-level operating results across reporting periods. These non-GAAP financial measures may also assist investors in evaluating future prospects. Management also uses non-GAAP financial measures for financial and operational decision making, planning and forecasting purposes and to manage the business. These non-GAAP financial measures do not replace the presentation of financial information in accordance with U.S. GAAP financial results, should not be considered measures of liquidity, and are unlikely to be comparable to non-GAAP financial measures provided by other companies.
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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.
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01 A foundation enabling momentum A “pure play” oncology solutions provider driving rapid dissemination and adoption of innovation through its best-in-class commercial organization Leadership position in hematology creates enhanced test demand as pathologists and oncologists consolidate the number of labs they use Differentiated from large reference labs and specialty diagnostic companies via a relentless focus on the community oncology setting 05 04 Entering the rapidly-growing $20+ billion solid tumor MRD (minimum residual disease) cancer monitoring market with the launch of RaDaR ST Breadth of test menu along the cancer care continuum makes NEO a “partner of choice” among hospitals and community practices Double-digit revenue growth and ten consecutive quarters of positive adjusted EBITDA 02 03 04 05 06
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70% 35% One provider from diagnosis to recurrence monitoring Sources: SEER, NCCN, NHS, NSF, NIH, UN, WHO, Precedence Research, primary market research, Precision for Medicine analysis, N EO internal estimates. All figures are approximations. For illustrative purposes only. Penetration: Diagnostic Testing $12B Therapy Selection $13B MRD Recurrence Monitoring $20B <8% Flagship products:
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Strong revenue growth in 2025 Q4 Revenue ($M) Q4 2024 Q4 2025 $172M $190M 11% YoY growth FY’25 Revenue ($M) FY 2024 FY 2025 $661M $727M 10% YoY growth Quarterly financial information is unaudited. Growth corresponds to prior year period. Reference non- GAAP reconciliation slides in quarterly filings for details.
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Launching RaDaR® ST for MRD in Feb’26 Tapping into the large, nascent, & rapidly growing cancer recurrence monitoring market 1 NEO estimates 2 Favorable MolDX reimbursement decision received in October 2025 for subsets of head & neck and breast cancer 3. Sensitivity demonstrated across four independent analytical and clinical validation studies, with detection down to 1 part per m illion (ppm) under study-specific conditions. Data on file. RaDaR ST Next-Gen MRD • Based on Whole Genome Sequencing (WGS) • Capable of Ultra-Sensitive Detection • Proof-of-concept work published at ISLB 2025 • Multiple Patents Granted • 2026 & 2027: Development & MolDx SubmissionDetection as low as 1ppm3 Indication New Diagnosis Prevalence Head and neck 20K 60K Breast HR+/HER2- 210K 1.1M Submitted indications 597K 1.3M MolDx reimbursement secured Specialized salesforce Revenue ramping 2H’26 into 2027
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Expanding the PanTracer portfolio with Pro Eliminating order complexity, PanTracer Pro delivers the right tests at the right time, and accelerates therapy decision-making with timely, relevant results to improve patient outcomes. Reduces delays in treatment planning with results in 8-10 days Includes over 12 companion diagnostic IHC tests available through Neo Optimized workflow with a single order Actionable information for therapy selection and clinical trial matching
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Sales force expansion driving accelerated penetration 6,000+ 7,000+ 8,000+ 65 90 140 165 2023 2024 2025 2026 NEO Community Oncologist NPI and Sales Headcount Trends, 2023-2025 NEO community oncologists ordering 5+ tests NEO sales headcount Demonstrated ability of taking market share even with later product introductions due to our strengths in the community channel Five products launched in 2023 represent 25% of total 2025 Clinical revenue Breadth of test portfolio, including Heme, is a key differentiator ~75% of community oncologists new to NEO in 2025 order 5+ tests *2026 figures are estimates 9,000*+
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Business levers for accelerated financial performance Commercial Execution • Sales force expansion • Pricing and Revenue Cycle Management initiatives • Payer coverage expansion • EMR integrations and bi-directional interfaces Operations • Digital pathology • Use of automation & AI • Instrument platform upgrades • Single LIMS implementation • Strategic procurement savings • Lab footprint optimization Product • RaDaR ST adoption in Head and Neck, Breast • RaDaR ST indication expansion • PanTracer Family adoption • Product upgrades
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4Q’25 Highlights Key Takeaways • NGS revenue grew 23% over prior year • Adjusted EBITDA of $13M is the 10th consecutive quarter of positive earnings • Adjusted Gross Profit of $88M or 7% growth from prior year Revenue $190M | 11% growth Clinical Volume 356K | 11% growth Adj. Gross Profit $88M | 7% growth Adj. EBITDA $13M | 13% growth Same Store excluding Pathline Reported including Pathline Quarterly financial information is unaudited. Growth corresponds to prior year period. Reference non- GAAP reconciliation slides in quarterly filings for details. Clinical Revenue Volume Rev/Test Reported 16% 11% 5% Same store 14% 6% 7%
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FY 2025 Highlights Revenue $727M | 10% growth Clinical Volume 1.4M | 12% growth Adj. Gross Profit $335M | 8% growth Adj. EBITDA $43M | 9% growth Same Store excluding Pathline Reported including Pathline Growth corresponds to prior year period. Reference non- GAAP reconciliation slides in quarterly filings for details. Key Takeaways • NGS revenue grew 22% over prior year • Adjusted EBITDA of $43M or 9% growth from prior year • Adjusted Gross Profit of $335M or 8% growth from prior year • Free Cash Flow improved $12M or 36% from prior year Clinical Revenue Volume Rev/Test Reported 15% 12% 3% Same store 13% 9% 4%
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Initiating Full Year 2026 Guidance Guidance as of February 17th, 2026 Guide ($ Millions) YoY% Growth Assumptions Revenue $793 - $801 ~10% at midpoint • Continued momentum in NGS • RaDaR revenue in MSD millions • Modest revenue contribution from PanTracer LBx • Non-clinical down LSD-MSD YoY Adj. EBIDTA $55 - $57 27 - 31% • Margin expansion of approximately 100 basis points YoY
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Upcoming key catalysts 1 RaDaR ST launch for HPV- Head & Neck, subset of Breast 2 PanTracer LBx MolDx reimbursement 3 Expanded indication reimbursement for RaDaR ST 4 Above market NGS growth
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© 2026 NeoGenomics Laboratories, Inc. All rights reserved. All other trademarks are the property of their respective owners. Rev. 02.17.2026