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NeoGenomics sees Q3 revenue of $63.1M, $2.8M shy of consensus; shares ease 1% after hours

Published 10/12/2017, 04:30 PM
© Reuters.  NeoGenomics sees Q3 revenue of $63.1M, $2.8M shy of consensus; shares ease 1% after hours
NEO
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  • On a preliminary basis, NeoGenomics (NASDAQ:NEO) expects Q3 revenue of $63.1M, up 4% yoy but shy of consensus of $65.9M.
  • Non-GAAP EBITDA should be ~$6.0M. Clinical genetic test volume should be ~162.5K.
  • The company says Hurricanes Harvey and Irma depressed revenue $1.0M and non-GAAP EBITDA $1.2M in the quarter. It also expects to record a one-time $1.3M charge to revenue to reflect a change in the process for estimating revenue for unbilled tests at quarter-end.
  • Q3 revenue will be ~$1.3M less than Q2 as a result of the PathLogic divestiture.
  • Preliminary Q4 guidance: Revenue: $65M - 67M; non-GAAP EBITDA: $9M - 10M.
  • Shares are down 1% after hours on increased volume.
  • Now read: BioTime readies stock offering; shares down 3% after hours


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