NeoGenomics is a specialized oncology testing laboratory operating a network of labs across the U.S. and U.K. The company performs diagnostic and molecular testing exclusively for cancer, serving community oncologists, pathologists, hospitals, and cancer centers, as well as pharmaceutical and biotech companies. NeoGenomics positions itself as a non-competitive partner to community-based providers — a physician orders a test, NeoGenomics performs the lab work, and either party interprets the results depending on the arrangement. Clinical testing accounts for roughly 90% of revenue; the remaining ~10% comes from pharma services, including clinical trial support and biomarker analysis, a business currently in decline due to weak pharma spending. NeoGenomics offers over 500 oncology tests spanning three phases of cancer care: diagnostics (cytogenetics, flow cytometry, FISH, IHC), therapy selection via next-generation sequencing (NGS), and molecular residual disease (MRD) testing. NGS is the fastest-growing category, representing roughly a third of clinical revenue, and includes the PanTracer portfolio for solid tumors and Neo Comprehensive panels for heme cancers. MRD — detecting residual cancer cells after treatment — is an emerging growth area; NeoGenomics' RaDaR ST solid tumor assay entered clinical launch in early 2026, with additional indications pending Medicare reimbursement approval. About 71% of clinical revenue is billed directly to client institutions, with the balance split between commercial insurance and Medicare. Revenue growth is driven by test volume, mix shift toward higher-value NGS and MRD tests, new product launches, and reimbursement coverage expansion.