Neogenomics, Inc. (NEO): Canvas du modèle d'entreprise [Jan-2025 Mis à jour]

Dans le paysage rapide de l'oncologie de précision, Neogenomics, Inc. (NEO) émerge comme une force transformatrice, révolutionnant le diagnostic du cancer par le biais de technologies génomiques de pointe. En intégrant de manière transparente les tests moléculaires avancés, les partenariats de recherche collaborative et les solutions de diagnostic personnalisées, la société redéfinit la façon dont les cliniciens et les chercheurs abordent la détection, la compréhension et le traitement du cancer. Cette toile complète du modèle commercial dévoile le plan stratégique qui propulse la néogénomique d'un service de laboratoire spécialisé à un acteur pivot de l'écosystème des soins de santé génomique, offrant des informations sans précédent qui pourraient potentiellement changer la trajectoire de la gestion du cancer.

Neogenomics, Inc. (NEO) - Modèle d'entreprise: partenariats clés

Centres de recherche en oncologie et établissements universitaires

Neogenomics a établi des partenariats avec les institutions de recherche suivantes:

Institution	Focus de la collaboration
MD Anderson Cancer Center	Recherche en oncologie de précision
Université de Stanford	Développement des tests génomiques
Clinique de mayo	Analyse des biomarqueurs des essais cliniques

Sociétés pharmaceutiques et biotechnologiques

Les partenariats pharmaceutiques clés comprennent:

• Miserrer & Co.
• Bristol Myers Squibb
• Astrazeneca
• Pfizer

Fournisseurs de soins de santé et hôpitaux

Réseau de soins de santé	Détails du partenariat	Volume de test annuel
Hackensack Meridian Health	Tests d'oncologie complets	45 000 tests / an
Memorial Sloan Kettering	Profilage moléculaire avancé	38 000 tests / an

Équipements de laboratoire et fournisseurs de technologies

Partenaires technologiques primaires:

• Illumina (plates-formes de séquençage de nouvelle génération)
• Thermo Fisher Scientific
• Roche Diagnostics

Réseaux d'essais cliniques et organisations de recherche

Organisation	Type de partenariat	Essais actifs
Swog Cancer Research Network	Essais cliniques en oncologie	27 essais actifs
Groupe de recherche sur le cancer ECOG-ACRIN	Études de profilage moléculaire	19 essais actifs

Écosystème du partenariat total: 42 collaborations institutionnelles actives à partir de 2024

Neogenomics, Inc. (NEO) - Modèle d'entreprise: activités clés

Tests génétiques et moléculaires pour les diagnostics de cancer

Neogenomics a effectué 585 000 tests moléculaires en 2022. La société a traité environ 1,2 million de tests dans son réseau de laboratoires. Les revenus des tests génétiques ont atteint 499,2 millions de dollars en 2022.

Catégorie de test	Volume (2022)	Impact sur les revenus
Tests d'oncologie de précision	385,000	327,4 millions de dollars
Tests de diagnostic moléculaire	200,000	171,8 millions de dollars

Développer des technologies de test génomiques avancées

Neogenomics a investi 75,4 millions de dollars dans la recherche et le développement en 2022. La société maintient 14 laboratoires certifiés CLIA et accrédités CAP spécialisés dans les technologies génomiques avancées.

• Plates-formes de séquençage de nouvelle génération (NGS)
• Technologies de profilage génomique complètes
• Capacités de test de biopsie liquide

Fournir des solutions de médecine de précision

La société a traité 165 000 tests de médecine de précision en 2022, générant 213,6 millions de dollars de revenus spécialisés en oncologie.

Service de médecine de précision	Volume de test	Revenu
Guide de thérapie ciblée	95,000	122,7 millions de dollars
Détection de biomarqueurs	70,000	90,9 millions de dollars

Effectuer des essais cliniques et des recherches

Neogenomics a participé à 87 essais cliniques en 2022, avec des collaborations de recherche totalisant 42,3 millions de dollars de financement externe.

• Recherche clinique axée sur l'oncologie
• Partenariats des entreprises pharmaceutiques
• Collaborations des établissements académiques

Offrir des services de laboratoire et un conseil

Les services de laboratoire ont généré 612,5 millions de dollars de revenus totaux pour 2022. La société maintient un réseau de 14 installations de laboratoire à travers les États-Unis.

Catégorie de service	Revenu	Clientèle
Services de laboratoire clinique	475,3 millions de dollars	2 300+ prestataires de soins de santé
Conseil pharmaceutique	137,2 millions de dollars	180+ sociétés pharmaceutiques

Neogenomics, Inc. (NEO) - Modèle d'entreprise: Ressources clés

Technologies de tests génétiques avancés

Neogenomics opère avec des technologies avancées, notamment:

• Plates-formes de séquençage de nouvelle génération (NGS)
• Systèmes de diagnostic moléculaire
• Équipement de test cytogénétique

Catégorie de technologie	Investissement de l'équipement	Coût de maintenance annuel
Plates-formes NGS	12,3 millions de dollars	1,7 million de dollars
Systèmes de diagnostic moléculaire	8,6 millions de dollars	1,2 million de dollars
Équipement de test cytogénétique	5,4 millions de dollars	$850,000

Infrastructure de laboratoire spécialisée

Neogenomics maintient 7 laboratoires certifiés CLIA Aux États-Unis, avec un espace de laboratoire total d'environ 120 000 pieds carrés.

Professionnels scientifiques et médicaux hautement qualifiés

Composition de la main-d'œuvre en 2024:

• Total des employés: 1 236
• Scientifiques de niveau doctoral: 187
• Pathologistes certifiés au conseil: 64
• Laboratoires cliniques: 412

Bases de données génomiques propriétaires et plateformes de recherche

Type de base de données	Records totaux	Taux de mise à jour annuel
Cancer Genomic Database	528 000 dossiers de patients	17.3%
Référentiel de biomarqueurs en oncologie	276 000 profils moléculaires	14.6%

Propriété intellectuelle et brevets de recherche

Portefeuille de brevets à partir de 2024:

• Brevets actifs totaux: 37
• Méthode de test génomique Brevets: 22
• Brevets technologiques de diagnostic: 15

Neogenomics, Inc. (NEO) - Modèle d'entreprise: propositions de valeur

Test complet de précision en oncologie

Neogenomics propose plus de 3 400 tests moléculaires et de pathologie en mettant l'accent sur le diagnostic du cancer. La société a traité 667 000 cas en 2022, générant 687,4 millions de dollars de revenus totaux.

Catégorie de test	Nombre de tests	Utilité clinique
Profilage moléculaire	1 850 tests uniques	Informations génomiques spécifiques au cancer
Services de pathologie	1 550 tests spécialisés	Caractérisation détaillée du cancer

Solutions de diagnostic de cancer personnalisé

Neogenomics fournit tests génétiques personnalisés Avec un taux de précision de 98,7% sur plusieurs types de cancer.

• Profilage génomique complet
• Analyse de mutation ciblée
• Identification des biomarqueurs

Détection précoce et recommandations de traitement ciblées

Les plateformes de test de l'entreprise soutiennent la détection précoce du cancer avec une sensibilité de 92,4% entre les principaux types de cancer.

Type de cancer	Sensibilité à la détection	Thérapies ciblées
Cancer du poumon	94.2%	25 thérapies ciblées
Cancer du sein	93.7%	18 thérapies ciblées

Informations génomiques avancées pour les cliniciens

Neogenomics dessert plus de 3 800 partenaires cliniques avec des services complets de reportage et de consultation.

• Interprétation génomique en temps réel
• Association des essais cliniques
• Consultation de stratégie de traitement

Services de profilage moléculaire innovants

La société a investi 82,3 millions de dollars en R&D en 2022, en se concentrant sur les technologies avancées de profilage moléculaire.

Technologie	Investissement en R&D	Capacités uniques
Séquençage de nouvelle génération	42,1 millions de dollars	Paysage génomique complet
Technologies de biopsie liquide	40,2 millions de dollars	Détection du cancer non invasive

Neogenomics, Inc. (NEO) - Modèle d'entreprise: relations clients

Ventes directes et gestion des comptes

Neogenomics maintient une équipe de vente dédiée de 87 représentants des ventes directes à partir de 2023. L'approche de vente directe de la société cible les laboratoires en oncologie, les hôpitaux et les sociétés pharmaceutiques.

Segment de clientèle	Nombre de comptes	Contribution annuelle des revenus
Laboratoires en oncologie	425	187,3 millions de dollars
Hôpitaux	312	142,6 millions de dollars
Sociétés pharmaceutiques	156	98,7 millions de dollars

Plateformes de support client en ligne

Neogenomics offre un soutien en ligne complet à travers:

• Portail client numérique 24/7
• Système de suivi des résultats de test en temps réel
• Plateforme de gestion de documents sécurisée

Canal de support	Temps de réponse moyen	Taux de satisfaction client
Portail en ligne	2,3 heures	92%
Assistance par e-mail	4,1 heures	87%
Support téléphonique	15 minutes	95%

Partenariats de recherche collaborative

Neogenomics s'engage dans des collaborations de recherche stratégique avec 43 établissements universitaires et 28 organisations de recherche pharmaceutique en 2023.

Type de partenariat	Nombre de partenariats actifs	Investissement de recherche annuel
Institutions universitaires	43	12,5 millions de dollars
Organisations de recherche pharmaceutique	28	18,3 millions de dollars

Technologie continue et mises à jour de service

Neogenomics investit 37,6 millions de dollars par an en recherche et développement, avec 62 projets d'amélioration technologique en cours en 2023.

Webinaires éducatifs et conférences scientifiques

La société héberge et participe à plusieurs événements scientifiques chaque année:

• 12 webinaires internes
• 24 présentations de la conférence externe
• 8 symposiums scientifiques sponsorisés

Type d'événement	Nombre d'événements	Traversé des participants estimés
Webinaires internes	12	3 500 participants
Présentations de la conférence externe	24	7 200 participants
Symposiums scientifiques sponsorisés	8	2 100 participants

Neogenomics, Inc. (NEO) - Modèle d'entreprise: canaux

Équipe de vente directe

L'équipe de vente directe de Neogenomics se compose de 154 représentants commerciaux au quatrième trimestre 2023. L'équipe génère environ 481,2 millions de dollars de revenus annuels grâce aux interactions directes des clients.

Segment de l'équipe de vente	Nombre de représentants	Marché cible
Spécialistes en oncologie	87	Cliniques en oncologie
Spécialistes biopharmatiques	42	Sociétés pharmaceutiques
Spécialistes de la recherche universitaire	25	Institutions de recherche

Plateformes numériques en ligne

Neogenomics exploite plusieurs canaux numériques générant 22,3% du total des revenus en 2023, avec un chiffre d'affaires estimé à une plate-forme en ligne de 103,5 millions de dollars.

• Système de commande en ligne
• Plateforme de rapports de résultats numériques
• Système intégré de gestion des informations de laboratoire

Conférences médicales et salons commerciaux

En 2023, Neogenomics a participé à 37 conférences médicales internationales, avec un investissement de réseautage et de génération de leads estimé de 2,4 millions de dollars.

Type de conférence	Nombre de conférences	Portée estimée
Conférences en oncologie	22	15 000 professionnels
Événements de médecine de précision	9	7 500 professionnels
Symposiums biopharmatiques	6	5 000 professionnels

Réseaux de référence professionnels de la santé

Neogenomics entretient des relations avec 6 782 professionnels de la santé dans 1 243 établissements médicaux, générant des revenus basés sur des références d'environ 76,9 millions de dollars en 2023.

Services de consultation de télémédecine et numérique

Les services de consultation numérique représentent 8,6% des revenus totaux, avec 40,2 millions de dollars générés par des plateformes de consultation de conseil génétique et de test moléculaire à distance en 2023.

• Séances de conseil génétique virtuel
• Interprétation des tests moléculaires à distance
• Consultations en pathologie numérique

Neogenomics, Inc. (NEO) - Modèle d'entreprise: segments de clientèle

Oncologues et centres de traitement du cancer

La Neogenomics sert environ 3 000 pratiques d'oncologie et centres de traitement du cancer à travers les États-Unis.

Type de client	Nombre de clients	Volume de test annuel
Pratiques en oncologie	2,500	Plus de 450 000 tests par an
Centres de traitement du cancer	500	Environ 250 000 tests par an

Organisations de recherche pharmaceutique

Neogenomics soutient plus de 100 organisations de recherche pharmaceutique avec des services de test génomiques spécialisés.

• Top 20 des sociétés pharmaceutiques en tant que clients
• Soutient environ 75 essais cliniques par an
• Volume de test génomique pour la recherche: 150 000 échantillons par an

Sponsors d'essais cliniques

La société collabore avec environ 250 sponsors d'essais cliniques dans plusieurs domaines thérapeutiques.

Type d'essai	Nombre de sponsors	Contrats annuels moyens
Essais en oncologie	175	45 millions de dollars de recherche contractuelle
Autres zones thérapeutiques	75	15 millions de dollars de recherche contractuelle

Patients individuels à la recherche de tests génétiques

La néogénomique traite environ 250 000 tests génétiques individuels des patients chaque année.

• Test génétique du cancer: 180 000 patients
• Dépistage du cancer héréditaire: 70 000 patients
• Prix ​​de test moyen: 1 200 $ - 3 500 $

Fournisseurs d'assurance de santé

Neogenomics a des contrats avec 85% des principaux fournisseurs d'assurance de santé aux États-Unis.

Catégorie des assureurs	Nombre de contrats	Volume de remboursement annuel
Assureurs nationaux	12	280 millions de dollars
Assureurs régionaux	45	120 millions de dollars

Neogenomics, Inc. (NEO) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, Neogenomics a déclaré des dépenses de R&D de 96,3 millions de dollars, ce qui représente 21,4% des revenus totaux.

Équipements de laboratoire et investissements technologiques

Catégorie d'équipement	Montant d'investissement (2023)
Plates-formes de séquençage de nouvelle génération	12,5 millions de dollars
Instruments de diagnostic moléculaire	8,7 millions de dollars
Systèmes d'analyse informatique	6,3 millions de dollars

Personnel et salaires spécialisés du personnel scientifique

Les dépenses totales du personnel pour 2023 étaient de 218,6 millions de dollars, avec un salaire moyen pour le personnel scientifique allant de 85 000 $ à 145 000 $ par an.

• Pathologues moléculaires: salaire moyen de 127 500 $
• Chercheur: salaire moyen de 98 000 $
• Technologues génétiques: salaire moyen de 72 000 $

Financement des essais et de la recherche cliniques

Le financement de la recherche clinique pour 2023 a totalisé 42,1 millions de dollars, alloué à plusieurs initiatives de recherche sur la recherche en oncologie et en médecine de précision.

Infrastructure de marketing et de vente

Catégorie de dépenses de marketing	Dépenses (2023)
Marketing numérique	3,7 millions de dollars
Compensation de l'équipe de vente	22,4 millions de dollars
Conférence et participation des événements	1,9 million de dollars

Coût d'exploitation total pour 2023: 393,4 millions de dollars

Neogenomics, Inc. (NEO) - Modèle d'entreprise: Strots de revenus

Frais de service de test de diagnostic

Neogenomics a déclaré un chiffre d'affaires total de 532,8 millions de dollars pour l'exercice 2022. Les services de test de diagnostic représentaient la majorité de ces revenus.

Catégorie de service	Revenus (2022)	Pourcentage du total des revenus
Test de diagnostic en oncologie	412,3 millions de dollars	77.4%
Segment des services pharmaceutiques	120,5 millions de dollars	22.6%

Contrats de soutien aux essais cliniques

Neogenomics a généré 129,1 millions de dollars à partir des services pharmaceutiques et du soutien aux essais cliniques en 2022.

• Valeur du contrat moyen pour les essais cliniques Test génomique: 250 000 $ à 1,5 million de dollars
• Nombre de contrats d'essai cliniques pharmaceutiques actifs: 87

Collaborations de recherche pharmaceutique

Les collaborations de recherche pharmaceutique ont contribué 85,6 millions de dollars aux revenus de l'entreprise en 2022.

Type de collaboration	Contribution des revenus	Nombre de partenariats actifs
Collaborations de recherche en oncologie	62,3 millions de dollars	23
Collaborations de médecine de précision	23,3 millions de dollars	12

Services de consultation en médecine de précision

Les services de consultation en médecine de précision ont généré 37,4 millions de dollars de revenus pour 2022.

• Frais de service de consultation moyenne: 5 000 $ à 50 000 $
• Nombre total de clients de consultation: 742

Ventes de kit de test génétique

Les ventes de kit de tests génétiques ont atteint 18,2 millions de dollars en 2022.

Type de kit	Volume des ventes	Prix ​​moyen du kit
Kits d'essai génétiques en oncologie	24 600 unités	$650
Kits de dépistage génétique complet	11 300 unités	$350

NeoGenomics, Inc. (NEO) - Canvas Business Model: Value Propositions

You're looking at what NeoGenomics, Inc. offers to its customers-the core reasons why oncologists, hospital systems, and biopharma partners choose them over the competition. It's all about breadth, speed, and actionable data in the complex world of cancer diagnostics.

The first big value is offering comprehensive oncology testing across the entire cancer continuum. NeoGenomics provides one of the most complete oncology-focused testing menus available, covering the full spectrum of cancer care needs. This breadth is anchored by a menu featuring over 500 oncology-focused tests.

Next, you see the push for innovative diagnostic and predictive testing for precision medicine. This isn't just running tests; it's about delivering deep insights for targeted therapy. For instance, their Comprehensive Genomic Profiling (CGP) panels identified actionable alterations in 67% of tumors tested, which is more than double the 33% found using a standard 50-gene targeted NGS panel. The PanTracer LBx liquid biopsy test, for example, analyzes a total of 514 genes.

Speed is a major differentiator in oncology, and NeoGenomics delivers with rapid turnaround times. Specifically, the NEO PanTracer LBx liquid biopsy test is designed to offer a seven-day turnaround time (TAT). For their tissue-based tests, the TAT is 8-10 days for PanTracer Tissue and PanTracer Tissue + HRD.

The company helps simplify operational workflows for institutions by consolidating send-out testing. By offering a holistic genomic picture through their PanTracer portfolio, they provide a frictionless, single-source workflow. This consolidation reduces the complexity for institutions managing multiple vendors for different types of testing.

The focus on advanced testing is clearly paying off in the financials, particularly in high-growth NGS testing. In the third quarter of 2025, Next-Generation Sequencing (NGS) revenue grew 24% year-over-year. This high-value segment now accounts for nearly one-third (or 33%) of their total clinical revenue. This growth in high-value testing helped drive the Average Revenue per Clinical Test (AUP) up to $476 in Q3 2025.

Here's a quick look at how their key portfolio elements stack up:

Value Component	Metric/Feature	Associated Number
Comprehensive Coverage	Total Genes Analyzed (PanTracer Portfolio)	Over 500
Precision Medicine Impact	Actionable Alterations Found (CGP vs. 50-gene panel)	67% vs. 33%
Speed of Results	PanTracer LBx Turnaround Time (TAT)	7 days
Growth Engine	NGS Revenue Growth (Q3 2025 YoY)	24%
Clinical Volume	Total Clinical Test Volume (Q3 2025)	361,000 tests

The value proposition is further supported by operational performance metrics from Q3 2025:

• Total Consolidated Revenue reached $188 million.
• Clinical Revenue grew 18% year-over-year.
• Clinical Test Volumes increased 15% year-over-year.
• The company is projecting full-year 2025 revenue between $720 million and $726 million.

They are delivering these results while focusing on integrating acquisitions, like Pathline, which was completed during the third quarter, including the validation of critical TAT-sensitive assays.

NeoGenomics, Inc. (NEO) - Canvas Business Model: Customer Relationships

You're looking at how NeoGenomics, Inc. connects with the oncologists, pathologists, and hospital systems that rely on their specialized cancer testing. It's about making complex diagnostics accessible and actionable for the people treating patients every day. The company's strategy, as CEO Tony Zook noted entering 2025, centers on winning on customer experience while capitalizing on its commercial organization.

The structure for direct engagement relies heavily on a dedicated commercial sales team. NeoGenomics, Inc. has been actively optimizing and expanding this commercial organization throughout 2025. This team includes Oncology Sales Specialists focused on the community oncology segment, a group they expanded in 2024 to increase coverage as new products launched in 2025. While the exact current size of the dedicated sales force isn't public, the company had 2,200 total employees as of September 30, 2025, indicating the scale of the support structure behind these relationships. The acceleration point for contributions from this sales force was anticipated in the second half of 2025.

Consultative services from expert pathologists are a key differentiator, supporting the rapport NeoGenomics, Inc. has established with community pathologists and oncologists. This expert interaction helps translate complex genomic data into clinically actionable reports. The focus on high-value tests, like Next-Generation Sequencing (NGS), which grew 24% year-over-year in Q3 2025, suggests these consultative touchpoints are crucial for adoption.

The patient-centric strategy is designed to directly improve patient care, which is the ultimate measure of customer success. The company delivered a record number of results to patients in the first quarter of 2025. Furthermore, the long-range goal is to serve more than 1 million patients annually by 2028, showing a commitment to scaling this patient impact. This focus is reflected in the clinical volume growth, which increased 15% year-over-year in the third quarter of 2025.

To make doing business easier-a direct driver for customer retention-NeoGenomics, Inc. has heavily invested in its digital ecosystem. This includes direct user interfaces for ordering and accessing results. As of the end of 2024, the company had already implemented over 300 direct user interfaces with customers. This digital push is part of a broader strategy to transform the digital ecosystem, including migrating to a single Laboratory Information Management System (LIMS).

Here's a quick look at some of the key operational metrics that reflect the volume and value flowing through these customer relationships in 2025:

Metric	Period/Date	Value
Total Employees	September 30, 2025	2,200
Direct User Interfaces Implemented (Cumulative)	End of 2024 (Latest Figure)	Over 300
Average Revenue Per Clinical Test	Q3 2025	$476
Clinical Test Volume Growth (YoY)	Q3 2025	15%
NGS Revenue Growth (YoY)	Q3 2025	24%

The company's commitment to customer experience is supported by tangible results in test value and volume, even as they manage headwinds in non-clinical revenue.

• Focus on community oncology segment expansion.
• Goal to achieve 12-13% annual revenue growth for fiscal year 2025.
• NGS now accounts for nearly one-third of clinical revenue as of Q3 2025.
• Adjusted Gross Profit Margin was 47% in Q1 2025.

Finance: draft 13-week cash view by Friday.

NeoGenomics, Inc. (NEO) - Canvas Business Model: Channels

Direct sales force to oncologists, pathologists, and hospitals

NeoGenomics, Inc. capitalizes on a commercial organization focused on the community setting, where approximately 80% of cancer care is delivered. The clinical services sales team is structured across nine regions in the United States. The company noted in its Q2 2025 update that it was 'continuing to grow our sales team.' For pharmaceutical development services, a dedicated team of business development specialists supports sponsors with testing needs for research and development projects, including Phase I, II, and III studies. Sales representatives manage their territories using a custom Customer Relationship Management System (CRM), which integrates key customer care functionality from the Laboratory Information Management System (LIMS) in real time.

Network of full-service, accredited laboratories for sample processing

NeoGenomics, Inc. maintains a network of laboratories across the US that are CAP-accredited and CLIA-certified for full-service sample processing and analysis. This network expanded with the completion of the acquisition of Pathline, LLC, a CLIA/CAP/NYS-certified laboratory in New Jersey, on April 4, 2025. Internationally, the company operates a CAP-accredited full-service, sample-processing laboratory located in Cambridge, United Kingdom. As of September 30, 2025, NeoGenomics (Fort Myers) had a total employee count of 2,200. The company has a long-range goal to serve more than 1 million patients annually by 2028.

Electronic Health Record (EHR) integration, including EPIC, for streamlined ordering

The company is focused on transforming its digital ecosystem, which includes efforts to enhance integration capabilities. While specific adoption numbers for NeoGenomics, Inc. integrations aren't detailed, industry context shows that it may take 4 to 6 months for an IT team to implement a point-to-point integration with a single reference lab. A 2022 report noted a Maryland cancer institute planned to integrate MEDITECH's Expanse Genomics with several labs, including NeoGenomics. Industry-wide, approximately 85% of EHRs offer seamless integration with laboratory systems for real-time result access.

Digital platforms for test ordering and results reporting

The digital infrastructure supports ordering and reporting, with sales teams relying on the integrated LIMS and CRM. The clinical business performance in Q3 2025 showed strong utilization of advanced digital testing platforms, as Next-Generation Sequencing (NGS) testing grew 24% year-over-year and accounted for nearly one-third of clinical revenue. The average revenue per clinical test in the third quarter of 2025 reached $476. The clinical revenue growth for Q3 2025 was 18% compared to Q3 2024.

Here's a quick look at the key performance metrics relevant to channel output for the third quarter of 2025:

Metric	Value (Q3 2025)	Comparison/Context
Consolidated Revenue	$188 million	Up 12% year-over-year
Clinical Revenue Growth (YOY)	18%	Driven by test volumes
Average Revenue per Clinical Test	$476	Up 3% year-over-year
NGS Revenue Share of Clinical Revenue	Nearly one-third	NGS grew 24% year-over-year
Total Employees	2,200	As of September 30, 2025

Finance: review Q4 2025 sales pipeline conversion rates by region by next Tuesday.

NeoGenomics, Inc. (NEO) - Canvas Business Model: Customer Segments

You're looking at how NeoGenomics, Inc. structures its client base, which is really about where the testing dollars are coming from. As of late 2025, the focus is clearly on the clinical side, especially the community setting, even with headwinds in the pharma sector.

The clinical business is the engine. For the third quarter of 2025, total revenue hit a record of \$188 million, with the clinical business driving an 18% year-over-year growth. This segment is where you find the community practices, hospitals, and academic centers.

The company specifically notes its focus on the community setting, stating that approximately 80% of cancer care is delivered there. This tells you where the sales force and service improvements are directed.

The pharmaceutical and biotech firms fall under the non-clinical revenue bucket, and that area has seen pressure. For instance, in the first quarter of 2025, non-clinical revenue declined by 15.8% year-over-year, which the company anticipated.

Here is a breakdown mapping the required segments to the available financial context from the recent quarters:

Customer Segment Group	Primary Revenue Type Context	Key Metric/Data Point (Latest Available)
Community-based pathology and oncology practices	Clinical Revenue	~80% of cancer care delivered in this setting.
Hospital systems and academic medical centers	Clinical Revenue	Part of the clinical business driving 18% YoY growth in Q3 2025.
Pharmaceutical and biotech firms for clinical trials and research	Non-Clinical Revenue	Declined by 15.8% year-over-year in Q1 2025.
Reference laboratories (send-out testing)	Clinical Revenue	Contributes to overall clinical volume, with Average Revenue Per Test at \$476 in Q3 2025.

Within the clinical revenue stream, Next-Generation Sequencing (NGS) is a key value driver for these customers. In the third quarter of 2025, NGS revenue grew by 24% year-over-year and now accounts for nearly one-third of the total clinical revenue.

You can see the overall revenue mix shift by looking at the Q2 2025 figures, where Clinical Revenue was approximately \$160 million out of total revenue of \$181 million, showing the heavy weighting toward direct patient/provider testing.

The average revenue per clinical test (ARPCT) is a good proxy for the value captured from these segments. For the third quarter of 2025, the ARPCT was \$476, up 3% year-over-year.

The company is actively managing its customer base by focusing on high-value tests and maintaining strong relationships in the community. They are positioning themselves as the partner of choice for clinicians.

• NGS testing now represents nearly one-third of clinical revenue.
• The revised full-year 2025 revenue guidance is between \$720 million and \$726 million.
• Q3 2025 total revenue was \$188 million.
• The company is growing its sales team to strengthen the community channel.

If onboarding for new hospital systems takes longer than expected, it definitely impacts the near-term realization of that segment's potential.

Finance: draft 13-week cash view by Friday.

NeoGenomics, Inc. (NEO) - Canvas Business Model: Cost Structure

You're looking at the hard numbers that drive NeoGenomics, Inc.'s operations as of late 2025. It's a cost-intensive business, built on specialized science and infrastructure.

High compensation and benefit costs for specialized staff represent a major component of the overall spend. For instance, in the third quarter of 2025, the increase in operating expenses included approximately $4.7 million attributed to higher compensation and benefit costs, largely driven by the expansion of the commercial sales team. This reflects the need to staff highly skilled personnel across lab operations and sales.

The commitment to staying ahead in oncology diagnostics means significant R&D investment in new product defintely development is a constant drain on cash flow. Looking at the first nine months of 2025, Research and Development expenses totaled $27,898 thousand, up from $23,190 thousand for the same period in 2024. This investment fuels the development of next-generation MRD products and therapy selection tests.

Total Operating expenses are substantial, reflecting the scale of the laboratory network. For the third quarter of 2025, total operating expenses were reported at $107 million, which was an increase of $11 million, or 12%, compared to the third quarter of 2024. This figure includes non-recurring charges, such as $7.1 million in impairment charges related to the planned sale of Trapelo during Q3 2025.

The core of the cost structure lies in the Costs of supplies and reagents for complex testing. This is captured within the Cost of Revenue. For the three months ended September 30, 2025, the Cost of Revenue was $107,351 thousand. This increase, partially offsetting revenue gains, led to a consolidated gross profit margin of 43% for the quarter, though the Adjusted Gross Profit Margin was 45%.

You also have to account for Acquisition and integration costs as NeoGenomics, Inc. continues to expand its footprint. The acquisition of Pathline, LLC, completed in April 2025, involved an initial cash consideration of $8.0 million, subject to adjustments, plus a contingent consideration of $1.0 million. The company anticipates operational consolidation and synergies from this deal will yield substantial annual cost reductions, expected to be accretive to Adjusted EBITDA starting in 2026.

Here's a quick look at the major expense categories for the three months ended September 30, 2025, compared to the prior year period, in thousands of USD:

Expense Category	3 Months Ended Sep. 30, 2025 (in thousands)	3 Months Ended Sep. 30, 2024 (in thousands)
Cost of Revenue	$107,351	$92,944
General and administrative	$69,874	$66,969
Sales and marketing	$21,806	$20,415
Impairment charges (Note 5)	$7,086	$0
Total Operating Expenses	$107,460	$96,077

The breakdown of operating expenses for the third quarter of 2025 shows where the cash is going:

• General and administrative expenses: $69,874 thousand.
• Sales and marketing expenses: $21,806 thousand.
• Research and development expenses: $8,694 thousand.
• Impairment charges: $7,086 thousand.

The company ended the quarter with $164 million in cash and cash equivalents and marketable securities.

Finance: draft 13-week cash view by Friday.

NeoGenomics, Inc. (NEO) - Canvas Business Model: Revenue Streams

You're looking at how NeoGenomics, Inc. brings in its money as of late 2025. It's primarily a testing and services company focused on oncology.

The company's revenue streams are built around its laboratory services, which are segmented by the type of client and test complexity. You'll see the core business is heavily reliant on clinical volume and pricing power.

For the full year 2025, NeoGenomics, Inc. has provided guidance expecting total revenue in the range of $720 million to $726 million. Furthermore, the company guided for Full-year 2025 Adjusted EBITDA guidance of $41 million to $44 million.

Clinical Services Revenue from Diagnostic Testing (Primary Driver)

This is the bread and butter for NeoGenomics, Inc. It covers the testing ordered by oncologists and pathologists to help diagnose and manage cancer treatment for patients. Strength here drives the overall top line, as seen in recent quarters.

For instance, in the third quarter of 2025, total clinical revenue grew by 18% year-over-year. This growth was fueled by a 15% increase in clinical test volumes and a 3% increase in the average revenue per clinical test, which reached $476. That average price increase reflects a mix shift toward more complex, higher-value tests.

The key components driving this segment include:

• Clinical cancer testing services.
• Interpretation and consultative services.
• Validation laboratory services.

Next-Generation Sequencing (NGS) Testing Revenue (High-Growth Segment)

Next-Generation Sequencing (NGS) is a critical, high-growth component within the broader clinical testing category. These are more advanced, comprehensive genomic tests that provide deeper insights for targeted therapy selection.

NGS has been a standout performer. In the third quarter of 2025, NGS revenue specifically grew by 24% year-over-year. This segment benefits from the overall increase in the average revenue per test because NGS tests carry a higher price point than standard tests.

The table below summarizes some recent quarterly performance metrics that feed into this revenue stream:

Metric	Q3 2025 Value	YoY Growth (Q3 2025 vs Q3 2024)
Total Consolidated Revenue	$188 million	12%
Clinical Revenue Growth	Not explicitly stated	15% increase in clinical test volumes
NGS Revenue Growth	Not explicitly stated	24%
Average Revenue Per Clinical Test	$476	3%

Non-Clinical Revenue from Pharmaceutical and Biotech Research Services

This stream comes from providing testing and lab services to pharmaceutical and biotech companies, often supporting their clinical trials or research and development efforts. This revenue can be more lumpy and less predictable than the core clinical business.

You need to watch this segment closely, as it has shown recent weakness. In the third quarter of 2025, non-clinical revenue declined by 27% versus the prior year, which partially offset the strong performance in the clinical segment. This pressure in pharma revenue was cited as a reason for earlier guidance revisions.

The services falling under this category are:

• Clinical trials and research support.
• Comprehensive technical and professional services offering.
• Oncology data solutions.

It's a smaller piece of the pie right now, but it's important for strategic partnerships.