NeoGenomics (NEO) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates

Zacks Equity Research
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For the quarter ended June 2023, NeoGenomics (NEO) reported revenue of $146.92 million, up 17.5% over the same period last year. EPS came in at -$0.05, compared to -$0.16 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $138.22 million, representing a surprise of +6.29%. The company delivered an EPS surprise of +50.00%, with the consensus EPS estimate being -$0.10.

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: 295116 versus the two-analyst average estimate of 285575.7.

  • Clinical - Average revenue/test: $0.42 compared to the $0.41 average estimate based on two analysts.

  • Revenue- Advanced Diagnostics: $23.76 million compared to the $22.94 million average estimate based on four analysts. The reported number represents a change of +22.3% year over year.

  • Revenue- Clinical Services: $123.16 million compared to the $114.18 million average estimate based on four analysts. The reported number represents a change of +16.6% year over year.

  • Gross Profit- Advanced Diagnostics: $8.48 million versus $8.22 million estimated by two analysts on average.

  • Gross Profit- Clinical Services: $51.41 million compared to the $52.18 million average estimate based on two analysts.

View all Key Company Metrics for NeoGenomics here>>>

Shares of NeoGenomics have returned -6.8% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.

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