- NeoGenomics Inc (NASDAQ:NEO) reported Q4 revenues of $138.71 million, +10.3% Y/Y beating the consensus of $129.97 million but aligned with William Blair estimates.
- William Blair reiterated Outperform rating on the stock.
- Clinical Services revenue was $108.2 million (+4%) (compared to William Blair’s estimate of $109.3 million), driven by a volume of 278,089 and an average price of $389.
- Pharma Services revenue was $30.5 million.
- William Blair says the quarter showed strong underlying improvement, improved margins, and adjusted EBITDA (-$1.2 million versus our estimate of -$10.2 million).
- The analyst says that fourth-quarter results represent another data point that shows management is beginning to appropriately address the operational issues which plagued the company over the last several years.
- Outlook: NeoGenomics forecasts FY23 revenues Of $545 million – $555 million as against the $535.08 million estimate.
- It sees the guidance as being set at an appropriately conservative level, coming ahead of expectations, and leaving room for potential upside from the clinical turnaround and RaDaR launch.
- Price Action: NEO shares are up 21.8% at $16.27 on the last check Thursday.
Starbreeze To Develop And Publish Game Based On The Dungeons & Dragons IP
Starbreeze Entertainment today announces that it has licensed the world's greatest roleplaying game - Dungeons & Dragons® - to be used in the upcoming Project Baxter game. Starbreeze licenses the IP from Wizards
