Slides
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Q2 2026 Financial Results July 28, 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, planned future operations and related expectations with respect to timing and performance, future financial position, future revenues, growth potential and expected growth drivers, projected costs and capital expenditures, prospects and plans, estimates of market size and position, 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 develop and commercialize new types of tests and toachieve projected increases in test adoption, to execute on its long-range strategic priorities and to otherwise implement its business plans, as well as general market conditions and competitive dynamics 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, 2025, and filed with the SEC on February 17, 2026, 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 considerationto 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 EBITDA margin, adjusted gross margin and adjusted gross profit, 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. The Company has provided reconciliations of such non-GAAP financial measures to their most directly comparable financial measures calculated in accordance with GAAP. Investors are encouraged to review the related GAAP financial measures and reconciliations of the non-GAAP financial measures to their most directly comparable GAAP financial measures set forth in this presentation.
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Mission We take cancer personally. We partner with physicians to deliver actionable insights that guide personalized treatment decisions and improve outcomes – through a comprehensive oncology portfolio, integrated customer solutions, and an unwavering commitment to excellence. Vision A world where every cancer treatment decision is as personal as the patient.
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NEO: Investment Thesis 4 Positioned to lead in precision oncology Pure-play oncology solutions provider Focused commercial engine drives rapid adoption Hematology leadership Lab consolidation drives testing volume with NEO Community oncology focus Differentiated from large reference labs and specialty diagnostic companies $20B+ MRD market entry RaDaR ST launch opens a fast-growing solid-tumor MRD segment Partner of choice Broadest test menu across the cancer care continuum Proven financial momentum Double-digit YOY revenue growth and positive AEBITDA
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70% 35% 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 | 7% CAGR Therapy Selection $13B | 13-15% CAGR MRD Recurrence Monitoring $20B | 30% CAGR <8% Flagship products: One Provider from Diagnosis to Recurrence Monitoring
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Strong Revenue and Adjusted EBITDA Growth Quarterly financial information is unaudited. Growth corresponds to prior year period. Adjusted EBITDA is a non -GAAP financial measure. See Adjusted EBITDA slide in the appendix for a reconciliation to net loss, the most directly comparable financial measure calculated in accordance with GAAP. Revenue ($M) Q2 2025 Q2 2026 $181M $202M 11% YoY growth Adj EBITDA ($M) Q2 2025 Q2 2026 $11M $14M 36% YoY growth
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Clinical Performance Drives Growth Quarterly financial information is unaudited. Growth corresponds to prior year period. Q2 2025 $187M Q3 2025 Q4 2025 Q1 2026 Q2 2026 $164M $172M$174M Q2 2025 346k 363k Q3 2025 Q4 2025 Q1 2026 Q2 2026 357k 361k 356k Q2 2025 $495 $515 Q3 2025 Q4 2025 Q1 2026 Q2 2026 $461 $476 $488 14% YoY Growth 12% YoY Growth 2% YoY Growth $171M Clinical Revenue Revenue per Test Volume (tests)
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NGS is the Performance Catalyst Quarterly financial information is unaudited. Growth corresponds to prior year period. Charts are for illustrative purposes only. Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 NGS Revenue ~1/3 of Clinical Revenue NGS Volume ~10% of Clinical Volume in Q2 Large NGS Panel >20% Volume Growth +26% NGS Revenue Expect mid-twenties YoY revenue growth in 2026 +14% NGS Volume Expect mid-teens YoY volume growth in 2026 26% 14%
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MARKET LEADERSHIP1 >25% Heme market share 200+ tests — diagnosis, therapy selection, and MRD SERVICE EXCELLENCE2 NPS 78 Heme NGS published TAT reduction 14 days → 8–11 days >20% faster published TAT GUIDELINE DRIVEN PORTFOLIO 500+ tests Covering Diagnostic, Therapy Selection & MRD continuum of care 40% of active providers order 5+ Neo tests Early integrations emphasizes revenue growth potential associated with Epic Winning in the Community Setting ~80% of cancer patients are treated in the community — where NeoGenomics is focused 1. Based on NeoGenomics internal estimates 2. Based on NPS study commissioned June 2026
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RaDaR® ST: A Strategic Growth Engine in MRD Tapping into the large, nascent, and rapidly growing MRD market for cancer recurrence monitoring TOTAL ADDRESSABLE MARKET COVERAGE1 Early Launch Insights2 – Expanding Indications Drive Revenue Growth ~30% Concurrent attachment rate Pull-through of NEO portfolio ~2/3 In-indication order rate Demand landing on approved indications ~1/3 Medicare coverage3 Reimbursement already in place 1. Neo Estimates. TAM estimates reflect revenue opportunity. 2. Orders from launch through July 10, 2026. 3. Approximately one-third of orders across all indications are for patients with Medicare coverage HPV- Head & Neck Subset of Breast 3 Pending Submissions Access to >40% of MRD TAM
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Sharpening our Commercial Focus Reorganized commercial team focused on Pathology and Oncology Pathology Dedicated ecosystem — core pathology business Oncology Dedicated ecosystem — MRD & therapy-selection growth 160+ targeted commercial representatives — on track to grow by Q3 2026 Building the Oncology Sales Specialist team ahead of additional RaDaR ST reimbursement approvals Each ecosystem includes dedicated Marketing, Medical Science Liaison & support functions Why the new structure • Simplifies execution • Strengthens accountability • Sustains growth across both businesses Looking ahead – Investment considerations • Overall market penetration, reach and frequency • Reimbursed MRD indications & new products • Progress with commercial payors
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01 Digital pathology Whole-slide imaging and digital diagnostic workflows 02 Automation & AI Automated processing and AI-assisted analysis 03 Instrument platform upgrades Next-generation sequencing and analyzer platforms 04 NEO LIMS implementation Unified laboratory information management system 05 Strategic procurement savings Optimized sourcing and supplier contracts 06 Lab footprint optimization Streamlined, efficient lab space and layout Lab of the Future – Modernizing our Infrastructure Six integrated initiatives to drive gross margin expansion
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48% We expect 100-150bps of adjusted GM expansion for full year 2026 Adj Gross Margin Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 FY 2025 FY 2026 Est +100-150bps 45% 46% 45% 46% 46% Adjusted Gross Margin Expanded 260bps in Q2 +260% Q2 Gross Margin ~260 bps AUP + Lab of the Future FY Outlook ~100-150 bps Robust Margin Expansion FY Outlook Adjusted gross profit and adjusted gross profit margin are non -GAAP financial measures. See adjusted gross profit and adjusted g ross profit margin slide in the appendix for reconciliations to gross profit and gross profit margin, respectively, the most directly comparable financial measures calculated in accordance with GAAP.
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Quarterly financial information is unaudited. Growth corresponds to prior year period. Adjusted EBITDA. See Adjusted EBITDA s lide in the appendix for a reconciliation to net loss and net loss margin, the most directly comparable financial measures calculated in accordance with GAAP. *Operating expense comparison excludes $20.0 million of non-recurring impairment charges recognized in the second quarter of 2025 **Retired $276M in Q2 2026 out of $345M convertible senior notes due in 2028 O P E R AT I N G E X P E N S E $102M (3%) YoY* AD J . E B I T D A $14M +36% YoY AD J . E B I T D A M AR G I N 7.2% +130 bps YoY T O T AL C AS H $146M Period-end OPERATING LEVERAGE • OpEx down (3%) YoY* to $102M, investments to Sales and R&D offset from G&A leverage • Adj. EBITDA up +36% YoY with +130 bps of margin expansion CASH POSITION • Generated $20M of operating cash flow in Q2, ending the quarter with $146M in cash and cash equivalents • Extended our convertible senior notes maturity from 2028 to 2032** Operating Expenses, Margins, and Cash Position
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Updating Full Year 2026 Guidance Growth corresponds to prior year period. Adjusted EBITDA is a non -GAAP financial measure. See Adjusted EBITDA 2026 Guidance slid e in the appendix for a reconciliation to net loss, the most directly comparable financial measure calculated in accordance with GAAP. April 28, 2026 ($ Millions) YoY% Growth $797–803 10% at midpoint $55–57 27–31% Guidance as of July 28, 2026 ($ Millions) YoY% Growth Assumptions $802–806 ~11% at midpoint • Clinical revenue to grow low-teens % • NGS to grow mid-twenties % • PanTracer LBx revenue in MSD millions • RaDaR ST revenue in MSD millions • Non-clinical down HSD % YoY $56–58 29–34% • Adj. gross margin expansion 100–150 bps YoY Guide Revenue Adj. EBITDA
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Sales force expansion Above market NGS growth Expanded indication reimbursement for RaDaR ST PanTracer LBx MolDx reimbursement RaDaR ST launch — HPV- Head & Neck, Breast subset Growth Catalysts 2026+ PROGRESS THROUGH Q2 | 3 GOALS ACHIEVED | 2 REMAIN ON TRACK 1 2 4 Achieved Achieved On Track Achieved 3 5 On Track
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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
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Appendix
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Balance Sheet June 30, 2026 (unaudited, in thousands)
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Income Statement June 30, 2026 (unaudited, in thousands)
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Statements of Cash Flows June 30, 2026 (unaudited, in thousands)
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_________________ (1) Cost of revenue adjustments for the three months ended June 30, 2026, include $4.6 million of amortization of acquired intangible assets and $0.4 million of stock - based compensation. Cost of revenue adjustments for the six months ended June 30, 2026, include $9.2 million of amortization of acquired intangible assets and $0.7 million of stock-based compensation. Cost of revenue adjustments for the three months ended June 30, 2025, include $4.8 million of amortization of acquired intangible assets and $0.3 million of stock-based compensation. Cost of revenue adjustments for the six months ended June 30, 2025, include $9.7 million of amortization of acquired intangible assets and $0.7 million of stock -based compensation. Adjusted Gross Margin June 30, 2026 (unaudited, in thousands)
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_________________ (1) For the three and six months ended June 30, 2026, leadership transition costs include executive retention costs. For the thre e months ended June 30, 2025, leadership transition costs include executive retention costs. For the six months ended June 30, 2025, leadership transition costs include executive severance co sts, executive retention costs, and executive search costs. (2) For the six months ended June 30, 2026, acquisition and integration related expenses include severance costs. There were no s uch costs for the three months ended June 30, 2026. For the three and six months ended June 30, 2025, acquisition and integration related expenses include consulting and legal fees, severance costs, and employee retention costs. (3) For the three and six months ended June 30, 2025, impairment charges include losses from InVisionFirst®-Lung intangible asset impairment and inventory write-off, and impairment of disposal groups held for sale. There were no such costs for the for the three and six months ended June 30, 2026. (4) For the three and six months ended June 30, 2026 and June 30, 2025, IP litigation costs include legal fees. (5) For the three and six months ended June 30, 2026, other significant expenses, net, includes severance costs. There were no su ch costs for the three and six months ended June 30, 2025. Adjusted EBITDA June 30, 2026 (unaudited, in thousands)
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Adjusted EBITDA 2026 Guidance (unaudited, in thousands) _________________ (1) This adjustment is for rounding and, in those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, also compensates for the effects of additional diluted shares included in adjusted diluted shares outstanding for t he treasury stock impact of outstanding stock options and restricted stock and the if -converted impact of convertible notes. (2) For those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, this adjustment includes any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighte d average number of shares that would be outstanding if the convertible notes were converted into common stock on the original issue da te based on the number of days such shares would have been outstanding in the reporting period, until the effect of these adjustments are anti-dilutive. GAAP net loss in 2026 will be impacted by certain charges, including: ( i) amortization, (ii) stock-based compensation, and (iii) other one -time expenses. These charges have been included in GAAP net loss available to stockholders and GAAP net loss per share; however, they have been removed from adjusted net loss and adjusted diluted net loss per share. The following table reconciles the Company’s 2026 outlook for net loss and EPS to the corresponding non-GAAP measures of adjusted net loss, adjusted EBITDA, and adjusted diluted EPS: