Compared to Estimates, NeoGenomics (NEO) Q3 Earnings: A Look at Key Metrics

Zacks Equity Research
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NeoGenomics (NEO) reported $151.95 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 18%. EPS of $0.00 for the same period compares to -$0.14 a year ago.

The reported revenue represents a surprise of +6.90% over the Zacks Consensus Estimate of $142.15 million. With the consensus EPS estimate being -$0.06, the EPS surprise was +100.00%.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how NeoGenomics performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Clinical - Number of tests performed: 289,637 versus 286,725 estimated by three analysts on average.

  • Clinical - Average revenue/test: $0.44 compared to the $0.41 average estimate based on three analysts.

  • Revenue- Advanced Diagnostics: $24.40 million compared to the $23.55 million average estimate based on four analysts. The reported number represents a change of +7.9% year over year.

  • Revenue- Clinical Services: $127.55 million versus the four-analyst average estimate of $118.81 million. The reported number represents a year-over-year change of +20.2%.

  • Gross Profit- Advanced Diagnostics: $8.75 million versus the three-analyst average estimate of $8.77 million.

  • Gross Profit- Clinical Services: $53.56 million compared to the $52.28 million average estimate based on three analysts.

View all Key Company Metrics for NeoGenomics here>>>

Shares of NeoGenomics have returned +26.6% over the past month versus the Zacks S&P 500 composite's +3.1% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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