On this page of StockholderLetter.com we present the latest annual shareholder letter from NEOGENOMICS INC — ticker symbol NEO. Reading current and past NEO letters to shareholders can bring important insights into the investment thesis.

 •  4/8/2024 Letter Continued (Full PDF)
 •  4/7/2023 NEO Stockholder Letter
 •  More "Diagnostics" Category Stockholder Letters
 •  NEO Benford's Law Stock Score = 94

NEO Shareholder/Stockholder Letter Transcript:

2023 ANNUAL REPORT
Serving patients. Saving lives.
neogenomics.com


Statement from the Chair
of the Board of Directors
Dear NeoGenomics Shareholders    
I would like to express the Board   s appreciation for
your continued support and trust in our mission
to save lives by improving patient care. Your
commitment has been foundational in propelling our
company forward.
2023 was a strong year of execution and growth for NeoGenomics. On
behalf of the Board of Directors, we are pleased with management   s
ability to stabilize the company and lead by example with strong cultural
values. The company   s turnaround is ahead of schedule and we anticipate
more operating leverage in 2024.
Neo   s mission and values continue to be at the forefront, and we
believe the management team and all Neo employees are committed to
delivering quality and customer service. We are particularly proud of
the strides made in advancing our diagnostic technologies, expanding
our product portfolio, and optimizing our sales force to enhance our
market presence. These accomplishments underscore our unwavering
commitment to delivering solutions that empower healthcare professionals
in the fight against cancer.
Looking ahead, the Board is filled with optimism as we set our sights on
the opportunities that lie before us in 2024. With a focus on operational
excellence and patient care, we are well-positioned to continue our
efforts to deliver long-term, sustainable, profitable growth to stakeholders.
We are very fortunate to have investors who also believe in our mission.
Thank you for your continued support of our company.
Sincerely,
Lynn Tetrault
Chair of the Board of Directors

Becoming the World   s Leading Cancer
Testing and Information Company
MISSIO
ON
We save livves by improving patient care.
VISION
We are becom
ming
g th
he world   s leaading cancer
testing, inforrmaation, and decision support
co
ompany by proviiding uncompromising quality,
exceptional ser vice, and innovativve solu
utions.
OUR VALUES
Qualityy, Inte
egrity, Accounttabilit y,
Teamwork, and Innovatio
on
2023 Summary

Strong FY   23 financial results with improvements across all key metrics including revenue,
average unit price, gross margin, and adjusted EBITDA.

Launched 12 new or updated assays for clinical use.

Introduced software solutions to support providers in their clinical decisions and inform
their patients with up-front benefits checks, as well as identify patients who may
be biomarker eligible for a new therapy or clinical trial.

Issued inaugural ESG Report recapping 2023 metrics.

Expanded our Board of Directors with the appointment of three new independent board
members with more than 50 years of executive experience in digital technologies,
cybersecurity, global marketing, and molecular diagnostics.

Continued belief that we are well positioned to execute on our key strategic priorities
in 2024 and deliver long-term, sustainable, profitable growth.
2     NeoGenomics Laboratories

Revenue, Net Loss, and
Adjusted EBITDA
$ in Thousands
1
2021
2022
2023
Revenue
$484,329
$509,728
$591,643
% Growth
9.0%
5.2%
16.1%
Net Loss
$(8,347)
$(144,250)
$(87,968)
% Growth/Decline
(300.1%)
(1,628.2%)
39.0%
Adjusted EBITDA (non-GAAP)1
$(4,161)
$(48,010)
$3,486
% Growth/Decline
(111.9%)
(1,053.8%)
107.3%
For a reconciliation to the comparable GAAP measure and definition of Adjusted EBITDA, see Form 10-K for the year ended December 31, 2023.
Aiming to serve 1 million
patients annually by 2028
2022
2023
~540k
~600k
2024
2025
2026
2027
2028
1 million
2023 Annual Report     3



 4/8/2024 Letter Continued (Full PDF)