NeoGenomics, Inc.

Good afternoon, and welcome to the Neogenomics First Quarter 2026 Financial Results Call. Please be advised that today's conference is being recorded. I will now turn the call over to Priya Viduraman, Senior Vice President of Finance.

Thank you, Matthew, and good afternoon, everyone. Welcome to Neogenomics First Quarter 2026 Financial Results Call. With me today to discuss the results are Tony Zook, Chief Executive Officer of Abhishek Jain, Chief Financial Officer, and Warren Stone, President and Chief Operating Officer. Additional members of the management team will be available for the Q&A portion of our call. This call is being simultaneously webcast. You will know that we will be advancing through a brief slide presentation to accompany today's call, and we have also made the presentation available on the investor tab of our website at ir.neogenomics.com. During this call, we will make forward-looking statements regarding our future financial and business performance, planned future operations, and related expectations with respect to timing and performance, future financial position, future revenue, growth potential, and expected growth drivers, projected cost and capital expenditure, prospects and plans, estimated market size and position, and objectives of management and financial guidance. We caution you that the actual events or results could differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements made during the call speak only as of the original date of this call, and we undertake no obligation to update or revise any of these statements. Please refer to the information disclosed on the Safe Harbor Statement slide in the deck posted on our website, as well as the information under the heading Risk Factors in our most recent forms, 10-K, 10-Q, 8-K that we file with the SEC to identify important risks and other factors that may cause our actual results to differ materially from the forward-looking statements. These documents can be found in the investor section of our website or on the SEC's website. During this call, we also refer to certain non-GAAP financial measures that involve adjustments to GAAP results. The non-GAAP financial measures presented should not be considered an alternative to the financial measures required by GAAP, should not be considered measures of liquidity, and are unlikely to be comparable to non-GAAP financial measures provided by other companies. Any non-GAAP financial measures referenced on this call are referentialized to the most directly comparable GAAP financial measures in a table available in the press release we issued this afternoon. and in the slide deck available in the investor section of our website. I will now turn the call over to Tom.

Thank you, Priya, and welcome, everyone. For those of you who are relatively new to the neogenomics story, let me review our investment thesis. We're a pure-play oncology solutions company, leveraging our strong heritage in hematology with pathologists and community hospitals, where we enjoy a leading 25% share across diagnostics and therapy selections. We believe we're highly differentiated from large reference labs as well as specialty diagnostic companies in two regards, the depth and breadth of our portfolio and a relentless focus in the community setting. We believe in the power of our portfolio and see it as a point of competitive distinction and advantage. We re-entered the MRD space with RadarST, which we will discuss momentarily, allowing us to address a $20 billion market opportunity where we will continue to leverage our ambition to be a partner of choice among community practices. And importantly, we believe we're well poised to deliver consistent double-digit revenue growth. As mentioned, it's our desire to be a partner of choice in the community from diagnosis to recurrence monitoring. Our foundation and strength in hematology and diagnostic testing affords us a strong platform for growth. We have and will continue to be purposeful with our portfolio transformation as evidenced by our product launches enabling our penetration into the $13 billion therapy selection market. And now with RadarST, we've reentered the $20 billion MRD market, both of which are enjoying robust growth but are still relatively modest in penetration rates. This portfolio transformation is evident in our selling performance. The five NGS products we launched in 2023 that we have consistently tracked contributed 25% of our clinical revenue in Q1. So with that, let's highlight some of our key performance metrics for Q1. During the first quarter, we again delivered double-digit revenue growth, reflecting our ability to generate consistent and predictable sales. Total revenue for Q1 was $186.7 million, representing 11 percent growth year-over-year, exceeding our guidance. Adjusted EBITDA of $9 million increased 27 percent over the first quarter of 2025, and the adjusted EBITDA margin increased approximately 60 basis points year over year. Our clinical business continued its robust growth, with revenue increasing 14% year over year to $171 million. Clinical performance was driven by effective execution of our commercial strategy, enabling volume growth and share gains in all segments of our business. In this quarter, we again saw an improvement in AUP, which reflected an 8% year over year growth and volumes growing 6% year-over-year. Turning to NGS, revenue grew 26%, well ahead of the NGS market growth rate, driven by strong volume and AUP growth. Our NGS business now represents about a third of our total clinical revenue. Moving forward, we believe the addition of Pantracer Liquid Biopsy to the Pantracer family, combined with ongoing investments in our field force size and capabilities, will help us staying above market growth for this part of our portfolio. The momentum with which we exited 2025 continued into the first quarter. As we have shared, we continue to see above market growth with our non-NGS clinical business, which should continue to grow in the mid-single-digit range as we take share across all modalities. Importantly, and in line with our overall strategy, our NGS business is scaling at a rate that is three to four times faster than our core clinical business. We're often asked, how do we win in the community setting, and is the growth sustainable? I'm going to ask Warren to step you through our commercial strategy and give you some insight into our early launch experiences with the Pantracer family and RadarST.