$NEO

NEOGENOMICS INC

CIK:0001077183|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
NET REVENUE	$ 201,656	$ 181,330	$ 388,328	$ 349,365
COST OF REVENUE	109,778	104,072	215,586	198,861
GROSS PROFIT	91,878	77,258	172,742	150,504
Operating expenses:
General and administrative	63,613	71,747	129,354	139,954
Research and development	10,761	9,023	20,295	19,204
Sales and marketing	27,275	24,075	51,105	46,758
Impairment charges (Note 5)	0	20,041	0	20,041
Total operating expenses	101,649	124,886	200,754	225,957
LOSS FROM OPERATIONS	(9,771)	(47,628)	(28,012)	(75,453)
Interest income	1,214	2,263	2,487	5,984
Interest expense	(781)	(933)	(1,379)	(2,551)
Other (expense) income, net	(17)	482	(29)	547
Gain on extinguishment of debt (Note 6)	11,181	0	11,181	0
Income (loss) before taxes	1,826	(45,816)	(15,752)	(71,473)
Income tax benefit	412	724	884	458
Net income (loss)	$ 2,238	$ (45,092)	$ (14,868)	$ (71,015)
NET INCOME (LOSS) PER SHARE
Basic (in dollars per share)	$ 0.02	$ (0.35)	$ (0.11)	$ (0.56)
Diluted (in dollars per share)	$ 0.02	$ (0.35)	$ (0.11)	$ (0.56)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic (in shares)	129,628	127,949	129,398	127,664
Diluted (in shares)	130,831	127,949	129,398	127,664

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (14,868)	$ (71,015)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation	17,356	18,506
Amortization of intangibles	15,267	16,486
Stock-based compensation	17,852	22,968
Non-cash operating lease expense	3,226	3,346
Non-cash finance lease amortization	322	7
Amortization of debt issue costs	20	69
Amortization of convertible debt discount	753	1,164
Gain on debt extinguishment	(11,181)	0
Impairment charges	0	20,041
Other adjustments	(15)	(340)
Changes in assets and liabilities, net
Accounts receivable, net	(16,163)	397
Inventories	1,429	(7,147)
Prepaid and other assets	(2,852)	(1,136)
Operating lease liabilities	(2,599)	(187)
Finance lease liabilities	70	0
Deferred income tax liabilities, net	(1,395)	(1,534)
Accrued compensation	8,685	(14,340)
Accounts payable and other liabilities	(4,085)	7,718
Net cash provided by (used in) operating activities	11,822	(4,997)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities of marketable securities	0	11,060
Purchases of property and equipment	(13,219)	(10,823)
Business acquisition, net of cash acquired	0	(5,991)
Purchase of convertible note	(100)	0
Net cash used in investing activities	(13,319)	(5,754)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible debt, net of discount	305,434	0
Repayment of convertible debt	(262,890)	(201,250)
Premiums paid for capped call confirmations	(28,747)	0
Proceeds received from capped call terminations	77	0
Repurchases of common stock	(25,000)	0
Repayment of financing leases	(1,313)	(7)
Proceeds from issuance of common stock under employee stock purchase plan	1,752	2,266
Proceeds from issuance of common stock upon exercise of stock options	1,273	74
Employee taxes paid related to net share settlement of restricted stock	(3,168)	(2,567)
Net cash used in financing activities	(12,582)	(201,484)
Net change in cash and cash equivalents, including cash classified within current assets held for sale	(14,079)	(212,235)
Less: net change in cash classified within current assets held for sale	0	(54)
Net change in cash and cash equivalents	(14,079)	(212,289)
Cash and cash equivalents, beginning of period	159,618	367,012
Cash and cash equivalents, end of period	145,539	154,723
Supplemental disclosure of cash flow information:
Interest paid	732	1,258
Income taxes paid	711	458
Supplemental disclosure of non-cash investing and financing information:
Purchases of property and equipment included in accounts payable	$ 1,929	$ 915

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 145,539	$ 159,618
Accounts receivable, net	175,405	159,242
Inventories	27,137	28,566
Prepaid assets	23,590	21,443
Other current assets	9,807	7,417
Total current assets	381,478	376,286
Property and equipment (net of accumulated depreciation of $223,479 and $209,057, respectively)	80,938	84,834
Operating lease right-of-use assets	78,606	78,444
Financing lease right-of-use assets	6,653	54
Intangible assets, net	271,262	286,528
Goodwill	523,995	524,344
Other assets	9,311	9,340
Total non-current assets	970,765	983,544
Total assets	1,352,243	1,359,830
Current liabilities
Accounts payable	20,953	23,090
Accrued compensation	56,265	47,580
Accrued expenses and other liabilities	23,045	11,975
Current portion of operating lease liabilities	3,722	4,776
Current portion of finance lease liabilities	1,704	28
Contract liabilities	194	851
Total current liabilities	105,883	88,300
Long-term liabilities
Operating lease liabilities	64,671	62,822
Finance lease liabilities	4,030	27
Convertible senior notes, net (Note 6)	374,241	341,858
Deferred income tax liabilities, net	16,824	18,219
Other long-term liabilities	862	12,042
Total long-term liabilities	460,628	434,968
Total liabilities	566,511	523,268
Commitments and contingencies (Note 12)
Stockholders’ equity
Common stock, $0.001 par value, (250,000,000 shares authorized; 130,301,168 and 128,989,152 shares issued, respectively; 127,917,946 and 128,989,152 shares outstanding, respectively)	130	129
Treasury stock, at cost, (2,383,222 and 0 shares, respectively) (Note 7)	(25,000)	0
Additional paid-in capital	1,259,272	1,270,235
Accumulated other comprehensive income	4	4
Accumulated deficit	(448,674)	(433,806)
Total stockholders' equity	785,732	836,562
Total liabilities and stockholders’ equity	$ 1,352,243	$ 1,359,830