By Connor Hart
Shares of NeoGenomics fell to their lowest price in more than two years after the company widened its net loss of the fourth quarter and guided for continued unprofitably in the current year.
The stock sank 23%, to $11.11, in early afternoon trading Tuesday. Shares are down 32% since the beginning of the year.
Before the bell, the oncology testing-services company reported a net loss of $15.3 million, or 12 cents a share, compared with a loss of $14.3 million, or 11 cents a share, a year earlier.
Adjusted per-share earnings came in at 4 cents, just ahead of the 3 cents that analysts surveyed by FactSet expected.
Revenue increased 11% to $172 million but missed the $173.2 million that Wall Street had modeled.
Chief Executive Chris Smith, who is set to retire on April 1, said he believes the company is well positioned for long-term growth, citing its upcoming product launches and focus on disciplined capital deployment.
In 2025, the company guided for a loss of $85 million to $76 million, missing analyst views for a loss of $56.5 million. Its top-line outlook of $735 million to $745 million came in ahead of the $733.1 million that analysts were looking for.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
February 18, 2025 13:17 ET (18:17 GMT)
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