Total revenue increased 11% YoY to $202 million

Clinical services revenue grew 14%, with NGS revenue growth of 26%

Company raises full-year 2026 revenue and adjusted EBITDA guidance

NeoGenomics, Inc. (NASDAQ:NEO) (the "Company"), a leading provider of oncology diagnostic solutions that enable precision medicine, today announced its second-quarter results for the period ended June 30, 2026.

Financial Highlights

For the three-month period ended June 30, 2026, as compared to the same period in 2025:

Increased total revenue by 11% to $202 million

Increased clinical revenue by 14% to $187 million driven by robust NGS growth of 26%

Recorded GAAP net income of $2 million, including a gain on extinguishment of debt of $11 million

Delivered adjusted EBITDA⁽¹⁾ of $14 million, an increase of 36%

Generated $20 million from cash from operations to end the quarter with $146 million of cash, cash equivalents, and short-term investments

Business Highlights

Sharpened commercial strategy and go-to-market execution by launching a dedicated pathology and oncology commercial team

Submitted new RaDaR ST evidence to MolDx supporting Medicare reimbursement for a new indication. This marks the third RaDaR ST submission to MolDx pending approval

Strengthened capital structure through the completion of a $316 million private offering of 0.75% convertible senior notes due 2032

Finalized a civil settlement with the Department of Justice resolving a self-disclosed matter and investigation concerning consulting services provided by the Company

"Our second quarter results reflect the consistent operating and financial performance investors expect from this team," said Tony Zook, Chief Executive Officer of NeoGenomics. "Revenue growth of 11% year-over-year exceeded our outlook, with NGS revenue growth of 26% reflecting a continued mix shift to more advanced testing modalities. This revenue growth is being coupled with our focus on disciplined margin expansion, as evidenced by adjusted EBITDA increasing by 36%. Looking ahead, I remain confident that we are well positioned to deliver long-term profitable growth, while investing in our business and expanding our suite of on-market testing solutions for patients and providers."

Second-Quarter Results

Consolidated revenue for the second quarter of 2026 was $202 million, an increase of 11% over the same period in 2025. Clinical volume increased by 2%, while average revenue per clinical test increased by 12% to $515.

Consolidated gross profit for the second quarter of 2026 was $92 million, an increase of 19% compared to the second quarter of 2025. Consolidated gross profit margin, including amortization of acquired intangible assets and stock-based compensation expense, was 46%. Adjusted Gross Profit Margin⁽¹⁾, excluding amortization of acquired intangible assets and stock-based compensation expense, was 48%, an increase of 260 bps versus the same period in 2025.

Operating expenses for the second quarter of 2026 were $102 million, a decrease of $23 million, or 19%, compared to the second quarter of 2025. The decrease in operating expenses was primarily due to $20 million of impairment charges taken in the second quarter of 2025.

Net income for the quarter was $2 million compared to net loss of $45 million for the second quarter of 2025. Net income for the quarter includes a gain on extinguishment of debt of $11 million.

Adjusted EBITDA⁽¹⁾ for the second quarter of 2026 increased by 36% to $14 million, compared to $11 million in the second quarter of 2025. Adjusted Net Income⁽¹⁾was $7 million compared to Adjusted Net Income⁽¹⁾ of $4 million in the second quarter of 2025.

Cash and cash equivalents totaled $146 million at quarter end. This reflects the net effects from the completion of the company’s $316 million private offering of 0.75% convertible senior notes due 2032. As part of the transaction, the Company repurchased approximately $276 million aggregate principal amount of the Company’s existing 0.25% convertible senior notes due 2028 and entry into capped call transactions intended to reduce potential dilution upon conversion. Company also repurchased shares of its common stock for an aggregate purchase price of $25 million.

⁽¹⁾

The Company has provided adjusted financial information that has not been prepared in accordance with GAAP, including Adjusted EBITDA, Adjusted Gross Profit Margin, Adjusted Net (Loss) Income, and Adjusted Diluted EPS. Each of these measures is defined in the section of this press release entitled "Use of Non-GAAP Financial Measures." See also the tables reconciling such measures to their closest GAAP equivalent.

2026 Financial Guidance

The Company is revising its full-year 2026 guidance, as shown below (in millions).

	FY 2025	Previous FY 2026 Guidance		Updated FY 2026 Guidance		YOY % Change from FY 2025
(in millions)	Actual	Low	High	Low	High	Low	High
Consolidated revenue	$727	$797	$803	$802	$806	10%	11%
Net loss	$(108)	$(63)	$(50)	$(42)	$(34)	61%	69%
Adjusted EBITDA	$43	$55	$57	$56	$58	29%	34%

Conference Call

The Company has scheduled a webcast and conference call to discuss its second quarter 2026 results on Tuesday, July 28, 2026 at 4:30 p.m. Eastern Time. To access the live call via telephone, interested investors should dial (888) 506-0062 (domestic) or (973) 528-0011 (international) at least five minutes prior to the call. The participant access code provided for this call is 968605. The live webcast may be accessed by visiting the Investor Relations section of our website at ir.neogenomics.com. A replay of the webcast will be available shortly after the conclusion of the call and will be archived on the Company’s website.

About NeoGenomics, Inc.

NeoGenomics, Inc. is a premier cancer diagnostics company specializing in cancer genetics testing and information services. We offer one of the most comprehensive oncology-focused testing menus across the cancer continuum, serving oncologists, pathologists, hospital systems, academic centers, and pharmaceutical firms with innovative diagnostic and predictive testing to help them diagnose and treat cancer. Headquartered in Fort Myers, FL, NeoGenomics operates a network of CAP-accredited and CLIA-certified laboratories for full-service sample processing and analysis services throughout the US and a CAP-accredited full-service sample-processing laboratory in Cambridge, United Kingdom.

We routinely post information that may be important to investors on our website at https://www.neogenomics.com. Information on, or accessible through, our website is not incorporated by reference into, and is not a part of, this release or any other report or document that we may file with the Securities and Exchange Commission ("SEC").

Forward Looking Statements

This press release includes forward-looking statements. These forward-looking statements generally can be identified by the use of words such as "anticipate," "expect," "plan," "could," "would," "may," "will," "believe," "estimate," "forecast," "goal," "project," "guidance," "enable," "potential" and other words of similar meaning, although not all forward-looking statements include these words. These forward-looking statements include statements regarding the Company’s strategy, planned future operations and related expectations with respect to timing and performance, capital structure and future financial position, future operating and financial performance, growth potential and expected growth drivers, projected costs and capital expenditures, prospects and plans, and estimates of market size and position, as well as statements regarding the objectives of management. Each forward-looking statement contained in this press release is subject to a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others, the Company's ability to identify and implement appropriate financial and operational initiatives to execute on its strategic priorities, to enter new markets and increase market share in both current and new markets, to continue gaining new customers, develop and commercialize new types of tests, manage the effects of seasonality, execute on its long-range strategic priorities and otherwise implement its business plans, as well as the potential impact of evolving regulatory requirements related to laboratory developed tests, the impact of tariffs and trade policy uncertainty on the Company's supply chain and costs, and any potential reimbursement changes by the government and commercial payors, and the risks identified under the heading "Risk Factors" contained in the Company's Annual Report on Form 10-K for the year ended December 31, 2025 and filed with the SEC on February 17, 2026, as well as subsequently filed Quarterly Reports on Form 10-Q and the Company's other filings with the SEC.

We caution investors not to place undue reliance on the forward-looking statements contained in this press release. You are encouraged to read our filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date of this document (unless another date is indicated), and we undertake no obligation to update or revise any of these statements. Our business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.


NeoGenomics, Inc. CONDENSED CONSOLIDATED BALANCE SHEETS (in thousands)

	June 30, 2026 (unaudited)		December 31, 2025
ASSETS
Current assets
Cash and cash equivalents	$	145,539	$	159,618
Accounts receivable, net		175,405		159,242
Inventories		27,137		28,566
Prepaid assets		23,590		21,443
Other current assets		9,807		7,417
Total current assets		381,478		376,286
Property and equipment, net		80,938		84,834
Operating lease right-of-use assets		78,606		78,444
Financing lease right-of-use assets		6,653		54
Intangible assets, net		271,262		286,528
Goodwill		523,995		524,344
Other assets		9,311		9,340
Total non-current assets		970,765		983,544
Total assets	$	1,352,243	$	1,359,830

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable and other current liabilities	$	100,457	$	83,496
Current portion of operating lease liabilities		3,722		4,776
Current portion of finance lease liabilities		1,704		28
Total current liabilities		105,883		88,300
Long-term liabilities
Operating lease liabilities		64,671		62,822
Finance lease liabilities		4,030		27
Convertible senior notes, net		374,241		341,858
Deferred income tax liabilities, net		16,824		18,219
Other long-term liabilities		862		12,042
Total long-term liabilities		460,628		434,968
Total liabilities	$	566,511	$	523,268
Stockholders’ equity
Total stockholders' equity	$	785,732	$	836,562
Total liabilities and stockholders’ equity	$	1,352,243	$	1,359,830


NeoGenomics, Inc. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (in thousands, except per share amounts) (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
NET REVENUE	$	201,656		$	181,330		$	388,328		$	349,365

COST OF REVENUE		109,778			104,072			215,586			198,861

GROSS PROFIT		91,878			77,258			172,742			150,504
Operating expenses:
General and administrative		63,613			71,747			129,354			139,954
Research and development		10,761			9,023			20,295			19,204
Sales and marketing		27,275			24,075			51,105			46,758
Impairment charges		—			20,041			—			20,041
Total operating expenses		101,649			124,886			200,754			225,957
LOSS FROM OPERATIONS		(9,771	)		(47,628	)		(28,012	)		(75,453	)
Interest income		1,214			2,263			2,487			5,984
Interest expense		(781	)		(933	)		(1,379	)		(2,551	)
Other (expense) income, net		(17	)		482			(29	)		547
Gain on extinguishment of debt		11,181			—			11,181			—
Income (loss) before taxes		1,826			(45,816	)		(15,752	)		(71,473	)
Income tax benefit		412			724			884			458
NET INCOME (LOSS)	$	2,238		$	(45,092	)	$	(14,868	)	$	(71,015	)

NET INCOME (LOSS) PER SHARE
Basic	$	0.02		$	(0.35	)	$	(0.11	)	$	(0.56	)
Diluted	$	0.02		$	(0.35	)	$	(0.11	)	$	(0.56	)

WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic		129,628			127,949			129,398			127,664
Diluted		130,831			127,949			129,398			127,664


NeoGenomics, Inc. CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (in thousands) (unaudited)

	Six Months Ended June 30,
		2026			2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(14,868	)	$	(71,015	)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation		17,356			18,506
Amortization of intangibles		15,267			16,486
Stock-based compensation		17,852			22,968
Non-cash operating lease expense		3,226			3,346
Non-cash finance lease amortization		322			7
Amortization of debt issue costs		20			69
Amortization of convertible debt discount		753			1,164
Gain on debt extinguishment		(11,181	)		—
Impairment charges		—			20,041
Other adjustments		(15	)		(340	)
Changes in assets and liabilities, net		(16,910	)		(16,229	)
Net cash provided by (used in) operating activities		11,822			(4,997	)
CASH FLOWS FROM INVESTING ACTIVITIES
Proceeds from maturities of marketable securities		—			11,060
Purchases of property and equipment		(13,219	)		(10,823	)
Business acquisition, net of cash acquired		—			(5,991	)
Purchase of convertible note		(100	)		—
Net cash used in investing activities		(13,319	)		(5,754	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of convertible debt, net of discount		305,434			—
Repayment of convertible debt		(262,890	)		(201,250	)
Premiums paid for capped call confirmations		(28,747	)		—
Proceeds received from capped call terminations		77			—
Repurchases of common stock		(25,000	)		—
Repayment of financing leases		(1,313	)		(7	)
Proceeds from issuance of common stock under employee stock purchase plan		1,752			2,266
Proceeds from issuance of common stock upon exercise of stock options		1,273			74
Employee taxes paid related to net share settlement of restricted stock		(3,168	)		(2,567	)
Net cash used in financing activities		(12,582	)		(201,484	)
Net change in cash and cash equivalents, including cash classified within current assets held for sale		(14,079	)		(212,235	)
Less: net change in cash classified within current assets held for sale		—			(54	)
Net change in cash and cash equivalents		(14,079	)		(212,289	)
Cash and cash equivalents, beginning of period		159,618			367,012
Cash and cash equivalents, end of period	$	145,539		$	154,723

Use of Non-GAAP Financial Measures

The Company reports its financial results in accordance with generally accepted accounting principles in the United States ("GAAP"). However, in order to provide greater transparency regarding our operating performance, the financial results and financial guidance in this press release refer to certain non-GAAP financial measures that involve adjustments to GAAP results. Non-GAAP financial measures exclude certain income and/or expense items that management believes are not directly attributable to the Company’s core operating results and/or certain items that are inconsistent in amounts and frequency, making it difficult to perform a meaningful evaluation of our current or past operating performance. Management believes that the presentation of operating results using non-GAAP financial measures provides useful supplemental information to investors by facilitating the analysis of the Company’s core test-level operating results across reporting periods. These non-GAAP financial measures may also assist investors in evaluating future prospects. Management also uses non-GAAP financial measures for financial and operational decision making, planning and forecasting purposes and to manage the business. These non-GAAP financial measures do not replace the presentation of financial information in accordance with U.S. GAAP financial results and may exclude items that are significant to understanding and assessing the Company's financial results. Therefore, these measures should not be considered measures of liquidity or considered in isolation or as an alternative to other measures of the Company's profitability or performance under GAAP. The Company's presentation of non-GAAP financial measures is unlikely to be comparable to similarly-titled non-GAAP financial measures provided by other companies.

Definitions of Non-GAAP Financial Measures

Non-GAAP Adjusted EBITDA

"Adjusted EBITDA" is defined by NeoGenomics as net (loss) income from continuing operations before: (i) interest income, (ii) interest expense, (iii) income tax (benefit) or expense, (iv) depreciation and amortization expense, (v) stock-based compensation expense, and, if applicable in a reporting period, (vi) leadership transition costs, (vii) acquisition and integration related expenses, (viii) impairment charges, (ix) intellectual property ("IP") litigation costs, (x) gain on extinguishment of debt, (xi) adjustment to contingency for regulatory matter, and (xii) other significant or non-operating (income) or expenses, net.

Non-GAAP Adjusted Cost of Revenue, Adjusted Gross Profit and Adjusted Gross Profit Margin

"Adjusted cost of revenue" is defined by NeoGenomics as cost of revenue before: (i) amortization, and (ii) stock-based compensation expense.

"Adjusted gross profit" is defined by NeoGenomics as total revenue less adjusted cost of revenue.

"Adjusted gross profit margin" is defined by NeoGenomics as adjusted gross profit divided by total revenue.

Non-GAAP Adjusted Net (Loss) Income

"Adjusted net (loss) income" is defined by NeoGenomics as net (loss) income from continuing operations plus: (i) amortization, (ii) stock-based compensation expense, and, if applicable in a reporting period, (iii) leadership transition costs, (iv) acquisition and integration related expenses, (v) impairment charges, (vi) IP litigation costs, (vii) gain on extinguishment of debt, (viii) adjustment to contingency for regulatory matter, and (ix) other significant or non-operating (income) or expenses, net. If GAAP net (loss) income is negative and adjusted net (loss) income is positive, adjusted net (loss) income will also be adjusted to reverse any recognized interest expense (including any amortization of discounts) on the convertible notes using the if-converted method unless the effect of this adjustment on both the adjusted net (loss) income and weighted average diluted common shares outstanding would be anti-dilutive. If GAAP net (loss) income is positive and adjusted net (loss) income is negative, adjusted net (loss) income will also be adjusted to reverse any recognized interest expense (including any amortization of discounts) on the convertible notes using the if-converted method.

Non-GAAP Adjusted Diluted EPS

"Adjusted diluted EPS" is defined by NeoGenomics as adjusted net (loss) income divided by adjusted diluted shares outstanding. If GAAP net (loss) income is negative and adjusted net (loss) income is positive, adjusted diluted shares outstanding will also include any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of common shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such common shares would have been outstanding in the reporting period, until the effect of these adjustments are anti-dilutive. If GAAP net (loss) income is positive and adjusted net (loss) income is negative, adjusted diluted shares outstanding will exclude any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of common shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such common shares would have been outstanding in the reporting period.

The following tables present reconciliations of the Company's non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP.


Reconciliation of GAAP Net Loss to Non-GAAP EBITDA and Adjusted EBITDA (in thousands) (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Net income (loss) (GAAP)	$	2,238		$	(45,092	)	$	(14,868	)	$	(71,015	)
Adjustments to net income (loss):
Interest income		(1,214	)		(2,263	)		(2,487	)		(5,984	)
Interest expense		781			933			1,379			2,551
Income tax benefit		(412	)		(724	)		(884	)		(458	)
Depreciation		8,577			9,140			17,357			18,506
Amortization		7,974			8,124			15,607			16,486
EBITDA (non-GAAP)	$	17,944		$	(29,882	)	$	16,104		$	(39,914	)
Further adjustments to EBITDA:
Leadership transition costs⁽¹⁾		245			637			563			2,831
Acquisition and integration related expenses⁽²⁾		—			3,204			806			4,376
Stock-based compensation expense		8,216			12,215			17,852			22,968
Gain on extinguishment of debt		(11,181	)		—			(11,181	)		—
Impairment charges⁽³⁾		—			20,041			—			20,041
IP litigation costs⁽⁴⁾		81			4,460			165			7,443
Adjustment to contingency for regulatory matter		(1,155	)		—			(1,155	)		—
Other significant expenses, net⁽⁵⁾		317			—			317			—
Adjusted EBITDA (non-GAAP)	$	14,467		$	10,675		$	23,471		$	17,745

____________________
⁽¹⁾	For the three and six months ended June 30, 2026, leadership transition costs include executive retention costs. For the three months ended June 30, 2025, leadership transition costs include executive retention costs. For the six months ended June 30, 2025, leadership transition costs include executive severance costs, executive retention costs, and executive search costs.
⁽²⁾	For the six months ended June 30, 2026, acquisition and integration related expenses include severance costs. There were no such costs for the three months ended June 30, 2026. For the three and six months ended June 30, 2025, acquisition and integration related expenses include consulting and legal fees, severance costs, and employee retention costs.
⁽³⁾	For the three and six months ended June 30, 2025, impairment charges include losses from InVisionFirst®-Lung intangible asset impairment and inventory write-off, and impairment of disposal groups held for sale. There were no such costs for the three and six months ended June 30, 2026.
⁽⁴⁾	For the three and six months ended June 30, 2026 and June 30, 2025, IP litigation costs include legal fees.
⁽⁵⁾	For the three and six months ended June 30, 2026, other significant expenses, net, include severance costs. There were no such costs for the three and six months ended June 30, 2025.


Reconciliation of Consolidated GAAP Cost of Revenue, Gross Profit and Gross Profit Margin to Non-GAAP Adjusted Cost of Revenue, Adjusted Gross Profit and Adjusted Gross Profit Margin (dollars in thousands) (unaudited)

	Three Months Ended June 30,								Six Months Ended June 30,
		2026			2025		% Change			2026			2025		% Change
Consolidated:
Total revenue (GAAP)	$	201,656		$	181,330		11.2	%	$	388,328		$	349,365		11.2	%

Cost of revenue (GAAP)	$	109,778		$	104,072		5.5	%	$	215,586		$	198,861		8.4	%
Adjustments to cost of revenue⁽¹⁾		(5,021	)		(5,114	)				(9,972	)		(10,439	)
Adjusted cost of revenue (non-GAAP)	$	104,757		$	98,958		5.9	%	$	205,614		$	188,422		9.1	%

Gross profit (GAAP)	$	91,878		$	77,258		18.9	%	$	172,742		$	150,504		14.8	%
Adjusted gross profit (non-GAAP )	$	96,899		$	82,372		17.6	%	$	182,714		$	160,943		13.5	%

Gross profit margin (GAAP)		45.6	%		42.6	%				44.5	%		43.1	%
Adjusted gross profit margin (non-GAAP)		48.1	%		45.4	%				47.1	%		46.1	%

____________________

⁽¹⁾

Cost of revenue adjustments for the three months ended June 30, 2026, include $4.6 million of amortization of acquired intangible assets and $0.4 million of stock-based compensation. Cost of revenue adjustments for the six months ended June 30, 2026, include $9.2 million of amortization of acquired intangible assets and $0.7 million of stock-based compensation. Cost of revenue adjustments for the three months ended June 30, 2025, include $4.8 million of amortization of acquired intangible assets and $0.3 million of stock-based compensation. Cost of revenue adjustments for the six months ended June 30, 2025, include $9.7 million of amortization of acquired intangible assets and $0.7 million of stock-based compensation.


Reconciliation of GAAP Net Income (Loss) to Non-GAAP Adjusted Net Income and GAAP EPS to Non-GAAP Adjusted EPS (in thousands, except per share amounts) (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2026			2025			2026			2025
Net income (loss) (GAAP)	$	2,238		$	(45,092	)	$	(14,868	)	$	(71,015	)
Adjustments to net income (loss) net of tax:
Amortization		7,974			8,124			15,607			16,486
Leadership transition costs⁽¹⁾		245			637			563			2,831
Acquisition and integration related expenses⁽²⁾		—			3,204			806			4,376
Stock-based compensation expense		8,216			12,215			17,852			22,968
Gain on extinguishment of debt		(11,181	)		—			(11,181	)		—
Impairment charges⁽³⁾		—			20,041			—			20,041
IP litigation costs⁽⁴⁾		81			4,460			165			7,443
Adjustment to contingency for regulatory matter		(1,155	)		—			(1,155	)		—
Other significant expenses, net⁽⁵⁾		317			—			317			—
Adjusted net income (non-GAAP)	$	6,735		$	3,589		$	8,106		$	3,130

Net income (loss) per common share (GAAP)
Diluted EPS	$	0.02		$	(0.35	)	$	(0.11	)	$	(0.56	)
Adjustments to diluted net income (loss) per share:
Amortization		0.06			0.06			0.12			0.13
Leadership transition costs⁽¹⁾		—			—			—			0.02
Acquisition and integration related expenses⁽²⁾		—			0.03			0.01			0.03
Stock-based compensation expense		0.06			0.10			0.14			0.18
Gain on extinguishment of debt		(0.09	)		—			(0.09	)		—
Impairment charges⁽³⁾		—			0.16			—			0.16
IP litigation costs⁽⁴⁾		—			0.03			—			0.06
Adjustment to contingency for regulatory matter		(0.01	)		—			(0.01	)		—
Other significant expenses, net⁽⁵⁾		—			—			—			—
Rounding and impact of diluted shares in adjusted diluted shares⁽⁶⁾		0.01			—						—
Adjusted diluted EPS (non-GAAP)	$	0.05		$	0.03		$	0.06		$	0.02

Weighted average shares used in computation of adjusted diluted EPS:
Diluted common shares (GAAP)		130,831			127,949			129,398			127,664
Dilutive effect of options, restricted stock, and converted shares⁽⁷⁾⁽⁸⁾		—			—			1,396			—
Adjusted diluted shares outstanding (non-GAAP)		130,831			127,949			130,794			127,664

____________________
⁽¹⁾	For the three and six months ended June 30, 2026, leadership transition costs include executive retention costs. For the three months ended June 30, 2025, leadership transition costs include executive retention costs. For the six months ended June 30, 2025, leadership transition costs include executive severance costs, executive retention costs, and executive search costs.
⁽²⁾	For the six months ended June 30, 2026, acquisition and integration related expenses include severance costs. There were no such costs for the three months ended June 30, 2026. For the three and six months ended June 30, 2025, acquisition and integration related expenses include consulting and legal fees, severance costs, and employee retention costs.
⁽³⁾	For the three and six months ended June 30, 2025, impairment charges include losses from InVisionFirst®-Lung intangible asset impairment and inventory write-off, and impairment of disposal groups held for sale. There were no such costs for the three and six months ended June 30, 2026.
⁽⁴⁾	For the three and six months ended June 30, 2026 and June 30, 2025, IP litigation costs include legal fees.
⁽⁵⁾	For the three and six months ended June 30, 2026, other significant expenses, net, include severance costs. There were no such costs for the three and six months ended June 30, 2025.
⁽⁶⁾	This adjustment is for rounding and, in those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive or GAAP net (loss) income is positive and adjusted net (loss) income is negative, also compensates for the effects of additional diluted shares included or excluded in adjusted diluted shares outstanding for the treasury stock impact of outstanding stock options and restricted stock and the if-converted impact of convertible notes.
⁽⁷⁾	In those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, this adjustment includes any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of common shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such common shares would have been outstanding in the reporting period, until the effect of these adjustments are anti-dilutive.
⁽⁸⁾	In those periods in which GAAP net (loss) income is positive and adjusted net (loss) income is negative, this adjustment excludes any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of common shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such common shares would have been outstanding in the reporting period.

Reconciliation of Non-GAAP Financial Guidance to Corresponding GAAP Measures

(in thousands, except per share amounts)

(unaudited)

GAAP net loss in 2026 will be impacted by certain charges, including: (i) amortization, (ii) stock-based compensation, and (iii) other one-time expenses. These charges have been included in GAAP net loss available to stockholders and GAAP net loss per share; however, they have been removed from adjusted net loss and adjusted diluted net loss per share

The following table reconciles the Company’s 2026 outlook for net loss and EPS to the corresponding non-GAAP measures of adjusted net loss, adjusted EBITDA, and adjusted diluted EPS:

	Year Ended December 31, 2026
	Low Range			High Range
Net loss (GAAP)	$	(42,000	)	$	(34,000	)
Amortization		32,000			32,000
Stock-based compensation expenses		37,000			35,000
Other one-time expenses		(5,000	)		(7,000	)
Adjusted net income (non-GAAP)		22,000			26,000
Interest and taxes		(2,000	)		(2,000	)
Depreciation		36,000			34,000
Adjusted EBITDA (non-GAAP)	$	56,000		$	58,000

Net loss per diluted share (GAAP)	$	(0.32	)	$	(0.26	)
Adjustments to net loss per diluted share:
Amortization		0.25			0.25
Stock-based compensation expenses		0.28			0.27
Other one-time expenses		(0.04	)		(0.05	)
Rounding and impact of diluted shares in adjusted diluted shares⁽¹⁾		—			(0.01	)
Adjusted diluted EPS (non-GAAP)	$	0.17		$	0.20

Weighted average assumed shares outstanding in 2026:
Diluted shares (GAAP)		130,000			130,000
Options, restricted stock, and converted shares not included in diluted shares⁽²⁾		—			—
Adjusted diluted shares outstanding (non-GAAP)		130,000			130,000

____________________
⁽¹⁾	This adjustment is for rounding and, in those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, also compensates for the effects of additional diluted shares included in adjusted diluted shares outstanding for the treasury stock impact of outstanding stock options and restricted stock and the if-converted impact of convertible notes.
⁽²⁾	For those periods in which GAAP net (loss) income is negative and adjusted net (loss) income is positive, this adjustment includes any options or restricted stock that would be outstanding as dilutive instruments using the treasury stock method and the weighted average number of shares that would be outstanding if the convertible notes were converted into common stock on the original issue date based on the number of days such shares would have been outstanding in the reporting period, until the effect of these adjustments are anti-dilutive.

Supplemental Information Clinical Tests Performed and Revenue (unaudited)

	Three Months Ended June 30,						Six Months Ended June 30,
		2026		2025	% Change			2026		2025	% Change
Clinical⁽¹⁾:
Number of tests performed		363,498		356,630	1.9	%		709,177		682,793	3.9	%
Average revenue/test	$	515	$	461	11.7	%	$	505	$	460	9.8	%

____________________
⁽¹⁾	Excludes tests and revenue related to non-clinical activity.

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