NeoGenomics Pours Money Into Next-Generation Sequencing Capabilities
Another quarter, another 50% year-over-year increase in revenue.
NeoGenomics (NASDAQ: NEO) kept up its impressive streak of growth in the third quarter of 2019 with another solid operating performance. The cancer-focused genetic testing provider continued to reap rewards from its clinical services division, which was responsible for over 88% of total revenue. But the company also hinted that its pharmaceutical services segment is poised for significant growth of its own.
The strong quarterly performance allowed management to increase full-year 2019 guidance for three financial metrics. It also gave NeoGenomics confidence to invest heavily in its next-generation sequencing (NGS) capabilities, which will help to provide even more value to customers. Here's what investors need to know about the company's latest operating results.
Source Fool.com
