NeoGenomics’ NGS business exceeds $250M in revenue, growing 26%

CEO Tony Zook said NGS makes up about 10% of test volume but around one-third of clinical revenue. NGS revenue has surpassed $250 million and is growing 26%, with larger panels, revenue-cycle improvements, and payer actions expected to support future growth.

The company is also targeting community oncology providers, where about 80% of patients receive treatment. COO Warren Stone said NeoGenomics offers nearly 500 tests covering diagnosis, therapy selection, MRD, solid tumours, and blood cancers.

Coverage for RaDaR ST’s immuno-oncology applications is expected to expand the addressable market by about $4 billion. PanTracer LBx is also expected to become a major contributor in 2027–2028.

Chief Financial Officer Abhishek Jain said NGS revenue grew 26% in the first half of 2026. Test volumes increased in the mid-teens, with the remaining growth coming from revenue-cycle management initiatives.

Larger NGS panels are growing more than 20% as more customers move away from single-gene and targeted panels. This shift has affected both test volumes and average pricing.

NeoGenomics introduced the XiFin billing system in the third quarter of 2026 to improve collections and operational efficiency as the company expands its NGS and MRD testing business.

About NeoGenomics

Founded in 2002, NeoGenomics is a provider of cancer-focused diagnostic testing and contract research services. The company operates clinical laboratories that support doctors, hospitals, and other healthcare organisations with testing used to diagnose, classify, and monitor cancer.

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