Slides
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NeoGenomics (Nasdaq: NEO) JP Morgan Healthcare Conference Investor Presentation January 2026
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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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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, planned future operations and related expectations with respect to timing and performance, future financial position, future revenues, growth potential and expected growth drivers, 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 to differ 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 execute on its strategic priorities, to enter new markets and increase market share in both current and new markets, to assemble and maintain an effective executive team, to continue gaining new customers, develop and commercialize new types of 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 Reporton 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 investors not 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 on such 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 ofoperating 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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01 NEO: Investment highlights An oncology “pure play” lab 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 nine consecutive quarters of positive adjusted EBITDA 02 03 04 05 06
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1: American Cancer Society (ACS), NHS UK, Cancer Research UK, National Cancer Institute (NCI) Cancer prevalence continues to rise 1 in 2 men and 1 in 3 women will develop cancer in their lifetime
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80% of cancer patients receive care in the community setting1 Majority of patients choose to be treated close to home Treatment in the Community setting offers: • Proximity to home and loved ones • More personalized care through long-standing patient-provider relationships • Cost-effectiveness among insured, underinsured, and out-of-pocket patients • Health equity and efforts to reduce cancer disparities ~70% of patients live over one hour from an NCI-designated cancer center2 NEO enables precision oncology in the community setting comparable to NCI designated cancer centers (1) NIH National Library of Medicine “Geographic differences in community oncology provider and practice location characteris tics in the central United States” September 2023; JAMA Network “Comparison of US Oncologist Rurality by Practice Setting and Patients Served“ January 2024; ASCO (2) American Cancer Society “Population-based geographic access to parent and satellite National Cancer Institute Cancer Center Facilities.” May 2017
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Majority of our business today Future / where we are investing ~$4B ~$13B Penetration: CAGR: ~8% ~20% ~45% ~10% ~70% ~7% ~35% ~13-15% <8% ~30% Diagnostic testing ~$12B Therapy selection ~$13B MRD Cancer Monitoring ~$20+B Sources: SEER, NCCN, NHS, NSF, NIH, UN, WHO, Precedence Research, primary market research, Precision for Medicine analysis ,N EO internal estimates. For illustrative purposes only. All figures are approximations Strategic Direction: Moving Beyond Diagnostics into Therapy Selection and MRD
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Make targeted investments to drive top-line growth and margin expansion Evolving to meet the needs of pathologists and oncologists in the community setting, where ~80% of cancer care is delivered Formula for Success (1) NIH National Library of Medicine “Geographic differences in community oncology provider and practice location characteris tics in the central United States” September 2023; JAMA Network “Comparison of US Oncologist Rurality by Practice Setting and Patients Served“ January 2024; ASCO (2) American Cancer Society “Population-based geographic access to parent and satellite National Cancer Institute Cancer Center Facilities.” May 2017 Leverage leadership position in hematology/ diagnostics to expand into solid tumor therapy selection and MRD
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Make targeted investments to drive top-line growth and margin expansion Evolving to meet the needs of pathologists and oncologists in the community setting, where ~80% of cancer care is delivered Formula for Success (1) NIH National Library of Medicine “Geographic differences in community oncology provider and practice location characteris tics in the central United States” September 2023; JAMA Network “Comparison of US Oncologist Rurality by Practice Setting and Patients Served“ January 2024; ASCO (2) American Cancer Society “Population-based geographic access to parent and satellite National Cancer Institute Cancer Center Facilities.” May 2017 Leverage leadership position in hematology/ diagnostics to expand into solid tumor therapy selection and MRD
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2024 2025 Leveraging leadership position in hematology To expand in Solid Tumor Therapy Selection and MRD markets Source: Company estimates >25% Hematology market share Across diagnostics and therapy selection (excluding MRD) Represents >40% of total active pathologists/oncologists Total pathologists and oncologists ordering 5+ NEO tests +14%
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The PanTracer Tissue for Therapy Selection Strong ability to quickly penetrate the community setting with new high-value tests 2023 2024 2025 PanTracer Tissue: Volume and AUP Trends 2023-2025 Volume AUP ~75% of community oncologists new to NEO in 2025 order 5+ tests
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RaDaR® ST Launch Anticipated in Q1 2026 Tapping into the large, nascent, & rapidly growing MRD market for cancer recurrence monitoring 1 NEO estimates 2 Favorable MolDX reimbursement decision received in October 2025 for subsets of head & neck and breast cancer 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 Submission~10ppm sensitivity Indication New Diagnosis Prevalence Head and neck 20K 60K Breast HR+/Her2- 210K 1.1M Submitted indications 597K 1.3M MRD Opportunity A $20+ billion addressable market, growing at a 30% CAGR, and less than 10% penetrated1
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Make targeted investments to drive top-line growth and margin expansion Evolving to meet the needs of pathologists and oncologists in the community setting, where ~80% of cancer care is delivered Formula for Success (1) NIH National Library of Medicine “Geographic differences in community oncology provider and practice location characteris tics in the central United States” September 2023; JAMA Network “Comparison of US Oncologist Rurality by Practice Setting and Patients Served“ January 2024; ASCO (2) American Cancer Society “Population-based geographic access to parent and satellite National Cancer Institute Cancer Center Facilities.” May 2017 Leverage leadership position in hematology/ diagnostics to expand into solid tumor therapy selection and MRD
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Community oncologists choose partners that remove friction, enabling confident treatment decisions under time, economic and operational pressures How we win in the community Community oncologists are guideline-driven and focused on certainty Why community oncologists use NEO: 1. Ease of ordering 2. Simplicity of test reports 3. Turnaround time 4. Access to medical expertise 5. Offers a comprehensive test menu 78 Net Promoter Score (NPS) reflects strong physician satisfaction 1. Three recent Scientific Advisory Boards (SABs) and independent market research commissioned by the Company
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Increasing penetration among community oncologists Sales team expansion drives accelerated penetration of community oncologists Even as a “fast follower,” NEO can successfully pull through new products Five products launched in 2023 represent ~24% of total 2025 Clinical revenue Breadth of test portfolio, including Heme is a key differentiator 2023 2024 2025 NEO Community Oncologist NPI and Sales Headcount Trends, 2023-2025 NEO community oncologists ordering 5+ tests NEO sales headcount
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Make targeted investments to drive top-line growth and margin expansion Evolving to meet the needs of pathologists and oncologists in the community setting, where ~80% of cancer care is delivered Formula for Success (1) NIH National Library of Medicine “Geographic differences in community oncology provider and practice location characteris tics in the central United States” September 2023; JAMA Network “Comparison of US Oncologist Rurality by Practice Setting and Patients Served“ January 2024; ASCO (2) American Cancer Society “Population-based geographic access to parent and satellite National Cancer Institute Cancer Center Facilities.” May 2017 Leverage leadership position in hematology/ diagnostics to expand into solid tumor therapy selection and MRD
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Digital Pathology Platform upgrades Investment levers for improved financial performance New products – PanTracer Family, RaDaR ST RCM and Pricing Commercial investment, productivity and effectiveness New Market Penetration – Community Oncology and Solid Tumor Gross MarginRevenue Automation & Process Improvements Digital Pathology Platform upgrades LIMS RCM & Price Site consolidation Procurement
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Core growth drivers 1 2 3 4 5 Operating efficiencies Increase Northeast penetration Revenue Cycle Management (RCM) Enhanced salesforce execution Above-market NGS growth
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Preliminary Q4’25 and FY’25 Revenue 1 Preliminary unaudited results as disclosed in the company’s January 12, 2026, press release $661 $727 Full-Year 2025 Revenue FY 2024 FY 2025 $172 $190 Fourth Quarter 2025 Revenue Q4 2024 Q4 2025 1 ($ in millions) ($ in millions) 11% YoY growth 10% YoY growth
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01 NEO: Investment highlights An oncology “pure play” lab 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 nine consecutive quarters of positive adjusted EBITDA 02 03 04 05 06
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