NeoGenomics

NEO

Medical - Diagnostics & Research · Healthcare

Price

$16.98

+0.45 (+2.72%)

Market Cap

$436.3M

Exchange

NASDAQ

Winston Score

Winston is worried

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Weak

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Data not available

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Share count rising — dilution

+6.8% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 24.0M (2021) → 25.6M (2025)

Winston Score History

The full picture

NeoGenomics is a cancer testing company. It runs specialized laboratories that analyze tumor samples to help doctors figure out what type of cancer a patient has and which treatments might work best. Its main customers are hospitals, oncologists, and pharmaceutical companies, and it focuses entirely on oncology — making it one of the largest dedicated cancer genetics testing networks in the United States.

The company earns money by charging for each test it performs, with revenue coming from insurers, hospitals, and drug companies running clinical trials. NeoGenomics operates primarily across the US, with some international presence, and its competitive edge comes from its deep specialization in cancer diagnostics and its established relationships with oncology practices. However, the company is currently unprofitable, with negative operating and returns on capital, so its main challenge is scaling test volumes and controlling costs enough to reach sustainable profitability before its financial position becomes a concern.

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Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+11.2% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+105.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$37M/ year

↑ Rising (+19% vs prior year)

5.1% of revenue

Below sector average (18%)

R&D investment increasing — building for the future

Insider Activity

9.2%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Position

Cash flow positive

$146M cash & investments

Quarterly Free Cash Flow

↓ Burn rate worsening

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

NeoGenomics is a rare growth stock that's already generating positive cash flow while growing at 11%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

45.6%

Healthy — 45.6% gross margin

Profit after running costs

Operating Margin

-4.8%

Losing money on operations — -4.8%

Return on the money invested

ROCE

-5.4%

Weak — -5.4% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

+11.2%

Steady sales growth (+11.2% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

Data not available

Spare cash per sale

FCF Margin

-1.0%

Burning cash (-1.0%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

0.57

Conservative — low debt load (0.57)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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