Abstract

NeoGenomics will report fourth-quarter results on February 17, 2026 Pre-Market; this preview synthesizes company guidance and market expectations for revenue, profitability, and EPS alongside recent analyst commentary.

Market Forecast

Market expectations point to fourth-quarter revenue of $188.05 million, implying approximately 8.59% year-over-year growth, with an estimated adjusted EPS of $0.04 and forecast EBIT of -$17.42 million; detailed gross margin, net profit margin, and adjusted EPS YoY are anticipated but not provided in the consensus feed. NeoGenomics projects continued momentum in core testing volumes with a steady mix shift toward higher-value assays in oncology diagnostics, while the liquid- and solid-tumor testing franchises are seen as the most promising with revenue concentration in direct-bill channels and an improving payer mix.

Last Quarter Review

NeoGenomics reported last quarter revenue of $187.80 million, a gross profit margin of 42.84%, GAAP net loss attributable to shareholders of $27.13 million with a net profit margin of -14.45%, and adjusted EPS of $0.03; year-over-year revenue growth for the quarter was 11.90%. The net loss narrowed quarter over quarter by 39.84%, reflecting cost controls and operational leverage despite investment in growth initiatives. Main business revenue mix was led by direct-billing customers at $132.29 million, followed by commercial insurance at $32.47 million and Medicare/government at $22.97 million, indicating concentration in direct channels and a stabilizing reimbursement landscape.

Current Quarter Outlook (with major analytical insights)

Core Oncology Testing as the Primary Revenue Engine

The company’s core clinical oncology diagnostics remain the principal revenue driver, with volumes underpinned by steady physician ordering and expanding indications in solid tumor profiling and hematologic malignancies. Given the last quarter’s gross margin of 42.84% and a forecast swing to an EBIT loss of -$17.42 million, the key tension is whether mix improvement and throughput can offset fixed-cost absorption and reagent inflation. Revenue guidance near $188.05 million suggests stable sequential trends and high-single-digit year-over-year expansion, implying continued demand resilience. If utilization of high-complexity assays rises, throughput efficiencies can help sustain gross margins near the low-40% range, yet any bottlenecks or lower reimbursement in specific payers could pressure contribution margins. Monitoring test mix, average revenue per test, and rejection rates will be critical to assessing margin trajectory this quarter.

High-Value Assays and Pharma Services as the Growth Catalyst

The most promising business line lies in higher-value precision oncology offerings and associated biopharma services that monetize complex genomic insight. While the prior quarter’s revenue mix showed $132.29 million in direct-bill channels (indicative of clinician-ordered testing), the incremental upside this quarter likely depends on the share of advanced profiling and companion diagnostic assays capturing higher pricing. Year-over-year revenue growth of 8.59% implies sustained demand, and if companion diagnostic volumes accelerate alongside clinical trial-related work, the revenue per requisition could lift. The gross margin of 42.84% provides a base, but leverage will depend on equipment utilization and reagent efficiency in next-generation sequencing workflows. Should a greater portion of volumes shift to premium assays, the EBIT trajectory could improve faster than revenue growth, reducing the gap to breakeven.

Key Stock Price Swing Factors This Quarter

Investor attention will center on the balance of revenue growth versus profitability, especially in light of the forecast EBIT loss and modest positive adjusted EPS. A demonstration of consistent gross margin near the low-40% range, combined with disciplined operating expense growth, would likely support re-rating potential. Conversely, any sign of reimbursement pressure in commercial or government channels—given last quarter’s $32.47 million from commercial insurance and $22.97 million from Medicare/government—could weigh on net revenue per test and compress margins. Additionally, clarity on volume growth in direct-bill channels ($132.29 million last quarter) and any new test launches or partnerships can affect sentiment. The spread between GAAP net loss and adjusted EPS will also be scrutinized to assess the sustainability and quality of earnings adjustments.

Analyst Opinions

Most recent analyst commentary tilts cautiously optimistic, emphasizing steady revenue growth and improving mix while acknowledging the path to sustained profitability remains a work in progress. The majority view expects NeoGenomics to meet or slightly exceed revenue expectations around $188.05 million and deliver adjusted EPS near $0.04, with attention on execution in complex genomic testing and operating leverage. Prominent institutions highlight the importance of maintaining gross margins around the historical low-40% range and managing opex growth to tighten the EBIT loss. They also point to potential upside from higher adoption of companion diagnostics and biopharma-related services that could enhance revenue per test and drive better incremental margins. On balance, the cautious optimism rests on visibility into volumes, payer dynamics, and the cadence of higher-value assay uptake, which together can validate the trajectory toward improved profitability.