Neogenomics Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Neogenomics Inc. has filed its annual 10-K report for the fiscal year ended December 31, 2023.</b>

AI Summary

NEOGENOMICS INC (NEO) filed a Annual Report (10-K) with the SEC on February 20, 2024. Neogenomics Inc. filed its 2023 Form 10-K on February 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company is incorporated in Nevada. Its principal business address is 9490 Neogenomics Way, Fort Myers, FL 33912. The SIC code for Neogenomics Inc. is 8734 (Services-Testing Laboratories).

Why It Matters

For investors and stakeholders tracking NEOGENOMICS INC, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial performance, business operations, and risk factors for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: medium — NEOGENOMICS INC shows moderate risk based on this filing. The company's financial performance and future prospects are subject to various risks detailed in the 10-K, including market conditions and operational challenges.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Neogenomics Inc.'s performance and outlook for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-02-20 — Filing Date (Date of submission)
• 001-35756 — SEC File Number (Company's SEC file number)
• 742897368 — IRS Number (Company's IRS number)

Key Players & Entities

• NEOGENOMICS INC (company) — Filer name
• 2024-02-20 (date) — Filing date
• 2023-12-31 (date) — Fiscal year end
• 8734 (industry_code) — Standard Industrial Classification
• NV (state) — State of incorporation
• 9490 NEOGENOMICS WAY, FORT MYERS, FL 33912 (address) — Business address
• AMERICAN COMMUNICATIONS ENTERPRISES INC (company) — Former company name
• 1999-01-20 (date) — Date of name change

FAQ

Industry Context

Neogenomics Inc. operates in the testing laboratories industry, providing diagnostic testing services.

Regulatory Implications

The company is subject to SEC regulations for its public filings, including the annual 10-K report.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics.
2. Review the risk factors section for potential challenges and uncertainties.
3. Examine management's discussion and analysis for insights into business strategy and outlook.

Key Dates

• 2024-02-20: 10-K Filing — Annual report submission for fiscal year 2023
• 2023-12-31: Fiscal Year End — End date of the reporting period

Year-Over-Year Comparison

This is the initial filing of the 2023 Form 10-K, providing the latest annual financial and operational data.

Key Financial Figures

• $0.001 — ch registered: Common Stock, par value $0.001 per share NEO The Nasdaq Stock Market L
• $16.07 — ice of the registrant's common stock of $16.07 per share on June 30, 2023. The number

Filing Documents

• neo-20231231.htm (10-K) — 2227KB
• exhibit211listofsubsidiari.htm (EX-21.1) — 4KB
• exhibit23112312023.htm (EX-23.1) — 3KB
• exhibit31112312023.htm (EX-31.1) — 8KB
• exhibit31212312023.htm (EX-31.2) — 8KB
• exhibit32112312023.htm (EX-32.1) — 9KB
• exhibit97112312023.htm (EX-97.1) — 36KB
• neo-20231231_g1.jpg (GRAPHIC) — 88KB
• 0001077183-24-000011.txt (&nbsp;) — 11265KB
• neo-20231231.xsd (EX-101.SCH) — 58KB
• neo-20231231_cal.xml (EX-101.CAL) — 131KB
• neo-20231231_def.xml (EX-101.DEF) — 326KB
• neo-20231231_lab.xml (EX-101.LAB) — 857KB
• neo-20231231_pre.xml (EX-101.PRE) — 579KB
• neo-20231231_htm.xml (XML) — 1825KB

Business

Business 5 Item 1A.

Risk Factors

Risk Factors 17 Item 1B. Unresolved Staff Comments 39 Item 1C. Cybersecurity 39 Item 2.

Properties

Properties 39 Item 3.

Legal Proceedings

Legal Proceedings 40 Item 4. Mine Safety Disclosures 40 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 40 Item 6. [RESERVED] 41 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 42 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 52 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 88 Item 9A.

Controls and Procedures

Controls and Procedures 88 Item 9B. Other Information 91 Item 9C. Disclosure Regarding Foreign Jurisdictions That Prevent Inspections 91 PART III Item 10. Directors, Executive Officers and Corporate Governance 91 Item 11.

Executive Compensation

Executive Compensation 91 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 91 Item 13. Certain Relationships and Related Transactions, and Director Independence 91 Item 14. Principal Accounting Fees and Services 91 PART IV Item 15. Exhibits and Financial Statement Schedules 91 Item 16. Form 10-K Summary 94

SIGNATURES

SIGNATURES 95 2 Table of Contents NEOGENOMICS, INC.

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "believe," "could," "estimate," "expect," "forecast," "goal," "intends," "may," "plan," "potential," "project," "will," "would," and similar expressions, although not all forward-looking statements contain these identifying words. These forward-looking statements address various matters, including the Company's strategy, future operations, future financial position, future revenues, changing reimbursement levels from government payers and private insurers, projected costs, prospects and plans, and objectives of management. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements and you should not place undue reliance on our forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties that could cause our actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, the risks set forth below under "Risk Factors Summary" and "Risk Factors" in Part I, Item 1A in this Annual Report on Form 10-K as filed with the Securities and Exchange Commission (the "SEC"). The forward-looking statements included in this Annual Report on Form 10-K speak only as of the date of this report, and the Company undertakes no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made or to reflect the occurrence of unanticipated events. New factors emerge from time to time and it is not possible for management to predict all of such factors, nor can it assess the impact of each such factor on the business or the extent to which any factor, or combination of factors, may cause actual results to differ materia

BUSINESS

ITEM 1. BUSINESS NeoGenomics, Inc., a Nevada corporation (referred to individually as the "Parent Company" or collectively with its subsidiaries as "NeoGenomics", "we", "us", "our", or the "Company" in this Annual Report on Form 10-K) is the registrant for SEC reporting purposes. Our common stock is listed on The Nasdaq Stock Market LLC ("Nasdaq") under the symbol "NEO". Overview NeoGenomics provides a wide range of oncology diagnostic testing and consultative services which includes technical laboratory services and professional interpretation of laboratory test results by licensed physicians who specialize in pathology and oncology. We operate a network of cancer-focused testing laboratories in the United States and the United Kingdom. Our mission is to save lives by improving patient care. Our vision is to become the world's leader in cancer testing, information, and decision support by providing uncompromising quality, exceptional service, and innovative solutions. As of December 31, 2023, the Company operated College of American Pathologists ("CAP") accredited and Clinical Laboratory Improvement Amendments of 1988 ("CLIA") certified laboratories in Fort Myers, Florida; Aliso Viejo and San Diego, California; Research Triangle Park, North Carolina; and Houston, Texas; and a CAP accredited full-service, sample-processing laboratory in Cambridge, United Kingdom. We also have several, small, non-processing laboratory locations across the United States for providing analysis services. We currently offer the following types of testing services: Cytogenetics ("karyotype analysis") – the study of normal and abnormal chromosomes and their relationship to disease. Cytogenetics involves analyzing the chromosome structure to identify changes from patterns seen in normal chromosomes. Cytogenetic studies are often performed to provide diagnostic, prognostic and occasionally predictive information for patients with hematological malignancies. Fluorescence In-Situ Hybridi

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View this 10-K filing on SEC EDGAR