10-Q Filing

NEOGENOMICS INC CIK: 1077183 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001077183-18-000017`
Period End Date	20180331
Filing Date	20180508
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	neo-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 82 Income Statement 44 Cash Flow Statement 58 Comprehensive Income 10

Balance Sheet 82 line items

Line Item	Tag	Value	Unit	Period
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$40.53M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$44.02M	USD	Point-in-time
Redeemable Convertible Preferred Stock, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Redeemable Convertible Preferred Stock, par value (in dollars per share)	`TemporaryEquityParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.53M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.04M	USD	Point-in-time
Redeemable Convertible Preferred Stock, shares authorized	`TemporaryEquitySharesAuthorized`	50.00M	shares	Point-in-time
Redeemable Convertible Preferred Stock, shares authorized	`TemporaryEquitySharesAuthorized`	50.00M	shares	Point-in-time
Redeemable Convertible Preferred Stock, shares issued	`TemporaryEquitySharesIssued`	6.86M	shares	Point-in-time
Redeemable Convertible Preferred Stock, shares issued	`TemporaryEquitySharesIssued`	6.86M	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$58.13M	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$60.43M	USD	Point-in-time
Inventories	`InventoryNet`	$7.47M	USD	Point-in-time
Inventories	`InventoryNet`	$7.51M	USD	Point-in-time
Redeemable Convertible Preferred Stock, shares outstanding	`TemporaryEquitySharesOutstanding`	6.86M	shares	Point-in-time
Redeemable Convertible Preferred Stock, shares outstanding	`TemporaryEquitySharesOutstanding`	6.86M	shares	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$5.15M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.95M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.77M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$85.88M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.46M	shares	Point-in-time
Property and equipment (net of accumulated depreciation of $44,024 and $40,530, respectively.	`PropertyPlantAndEquipmentNet`	$40.41M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	80.57M	shares	Point-in-time
Property and equipment (net of accumulated depreciation of $44,024 and $40,530, respectively.	`PropertyPlantAndEquipmentNet`	$36.50M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$74.17M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$72.75M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.57M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	80.46M	shares	Point-in-time
Goodwill	`Goodwill`	$147.02M	USD	Point-in-time
Goodwill	`Goodwill`	$147.02M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$891.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$1.32M	USD	Point-in-time
Total assets	`Assets`	$344.45M	USD	Point-in-time
Total assets	`Assets`	$349.27M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.05M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$10.45M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$9.48M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$10.16M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.55M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$9.88M	USD	Point-in-time
Short-term portion of capital leases and car loans	`CapitalLeaseObligationsandAutoLoansCurrent`	$5.99M	USD	Point-in-time
Short-term portion of capital leases and car loans	`CapitalLeaseObligationsandAutoLoansCurrent`	$5.24M	USD	Point-in-time
Short-term portion of loans	`SecuredDebtCurrent`	$4.22M	USD	Point-in-time
Short-term portion of loans	`SecuredDebtCurrent`	$3.75M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$36.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$43.30M	USD	Point-in-time
Long-term portion of capital leases and car loans	`CapitalLeaseObligationsAndAutoLoansNoncurrent`	$5.30M	USD	Point-in-time
Long-term portion of capital leases and car loans	`CapitalLeaseObligationsAndAutoLoansNoncurrent`	$6.51M	USD	Point-in-time
Long-term portion of loans, net	`SecuredLongTermDebt`	$66.62M	USD	Point-in-time
Long-term portion of loans, net	`SecuredLongTermDebt`	$65.21M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$24.52M	USD	Point-in-time
Revolving credit facility, net	`LongTermLineOfCredit`	$19.11M	USD	Point-in-time
Long-term pharma contract liability	`ContractWithCustomerLiabilityNoncurrent`	$283.00K	USD	Point-in-time
Long-term pharma contract liability	`ContractWithCustomerLiabilityNoncurrent`	$522.00K	USD	Point-in-time
Deferred income tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$6.59M	USD	Point-in-time
Deferred income tax liability, net	`DeferredIncomeTaxLiabilitiesNet`	$6.69M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$103.41M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$97.95M	USD	Point-in-time
Total liabilities	`Liabilities`	$141.26M	USD	Point-in-time
Total liabilities	`Liabilities`	$139.88M	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Series A Redeemable Convertible Preferred Stock, $0.001 par value, (50,000,000 shares authorized; 6,864,000 shares issued and outstanding)	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$32.62M	USD	Point-in-time
Series A Redeemable Convertible Preferred Stock, $0.001 par value, (50,000,000 shares authorized; 6,864,000 shares issued and outstanding)	`RedeemableNoncontrollingInterestEquityPreferredCarryingAmount`	$35.47M	USD	Point-in-time
Common stock, $0.001 par value, (250,000,000 shares authorized; 80,568,453 and 80,462,574 shares issued and outstanding, respectively)	`CommonStockValueOutstanding`	$80.00K	USD	Point-in-time
Common stock, $0.001 par value, (250,000,000 shares authorized; 80,568,453 and 80,462,574 shares issued and outstanding, respectively)	`CommonStockValueOutstanding`	$81.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$230.03M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$232.04M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$499.00K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$274.00K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-58.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-60.07M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$172.54M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$171.96M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$349.27M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$344.45M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Clinical testing	`ClinicalTestingRevenue`	$56.97M	USD	1 Quarter
Clinical testing	`ClinicalTestingRevenue`	$52.91M	USD	1 Quarter
Pharma Services	`PharmaServices`	$6.45M	USD	1 Quarter
Pharma Services	`PharmaServices`	$4.52M	USD	1 Quarter
Total Revenue	`SalesRevenueServicesNet`	$57.43M	USD	1 Quarter
Total Revenue	`SalesRevenueServicesNet`	$63.42M	USD	1 Quarter
COST OF REVENUE	`CostOfServices`	$36.12M	USD	1 Quarter
COST OF REVENUE	`CostOfServices`	$34.48M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$27.30M	USD	1 Quarter
GROSS PROFIT	`GrossProfit`	$22.95M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.07M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$17.02M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$956.00K	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$862.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$6.78M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.65M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$23.53M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$24.80M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$2.50M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-580.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.49M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.36M	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	-	USD	1 Quarter
Other income	`OtherNonoperatingIncome`	$63.00K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.08M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.94M	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$438.00K	USD	1 Quarter
Income tax (benefit) expense	`IncomeTaxExpenseBenefit`	$-779.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$644.00K	USD	1 Quarter
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$1.00M	USD	1 Quarter
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$894.00K	USD	1 Quarter
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$1.67M	USD	1 Quarter
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$1.85M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-3.73M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-2.21M	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.03	USD	1 Quarter
Basic (in dollars per share)	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.05	USD	1 Quarter
Diluted (in dollars per share)	`IncomeLossFromContinuingOperationsPerDilutedShare`	$-0.03	USD	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	78.65M	shares	1 Quarter
Basic (in shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	80.51M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	78.65M	shares	1 Quarter
Diluted (in shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	80.51M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$644.00K	USD	1 Quarter
Depreciation	`Depreciation`	$3.63M	USD	1 Quarter
Depreciation	`Depreciation`	$3.98M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.41M	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.73M	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$110.00K	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$113.00K	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfBusiness`	-	USD	1 Quarter
Gain on sale of assets	`GainLossOnSaleOfBusiness`	$7.00K	USD	1 Quarter
Non-cash stock based compensation	`ShareBasedCompensation`	$1.13M	USD	1 Quarter
Non-cash stock based compensation	`ShareBasedCompensation`	$1.62M	USD	1 Quarter
(Increase) decrease in accounts receivable, net of write-offs	`IncreaseDecreaseInAccountsReceivable`	$5.74M	USD	1 Quarter
(Increase) decrease in accounts receivable, net of write-offs	`IncreaseDecreaseInAccountsReceivable`	$-2.30M	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$-283.00K	USD	1 Quarter
(Increase) decrease in inventories	`IncreaseDecreaseInInventories`	$41.00K	USD	1 Quarter
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.32M	USD	1 Quarter
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$1.99M	USD	1 Quarter
(Increase) decrease in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$-6.00K	USD	1 Quarter
(Increase) decrease in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$158.00K	USD	1 Quarter
Increase (decrease) in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-692.00K	USD	1 Quarter
Increase (decrease) in accounts payable, accrued and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$6.78M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.69M	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$14.31M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$4.67M	USD	1 Quarter
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-3.01M	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.67M	USD	1 Quarter
Advances from revolving credit facility, net	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Advances from revolving credit facility, net	`ProceedsFromLinesOfCredit`	$5.01M	USD	1 Quarter
Repayment of capital lease obligations, loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.39M	USD	1 Quarter
Repayment of capital lease obligations, loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.26M	USD	1 Quarter
Repayment of term loan and revolving credit facility, net	`RepaymentsOfLongTermLinesOfCredit`	$6.34M	USD	1 Quarter
Repayment of term loan and revolving credit facility, net	`RepaymentsOfLongTermLinesOfCredit`	$932.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$505.00K	USD	1 Quarter
Issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$483.00K	USD	1 Quarter
Payments of equity issue costs	`PaymentsOfStockIssuanceCosts`	-	USD	1 Quarter
Payments of equity issue costs	`PaymentsOfStockIssuanceCosts`	$112.00K	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-7.25M	USD	1 Quarter
Net cash (used in) provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.20M	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	$-45.00K	USD	1 Quarter
Effects of foreign exchange rate changes on cash and cash equivalents	`EffectOfExchangeRateOnCashAndCashEquivalents`	-	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.35M	USD	1 Quarter
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.49M	USD	1 Quarter
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.53M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and cash equivalents, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$11.04M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.53M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$15.17M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$12.82M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$11.04M	USD	Point-in-time
Interest paid	`InterestPaid`	$1.40M	USD	1 Quarter
Interest paid	`InterestPaid`	$1.26M	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$5.00K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	$7.00K	USD	1 Quarter
Equipment acquired under capital lease/loan obligations	`CapitalLeaseObligationsIncurred`	$3.35M	USD	1 Quarter
Equipment acquired under capital lease/loan obligations	`CapitalLeaseObligationsIncurred`	$1.90M	USD	1 Quarter

Comprehensive Income 10 line items

Line Item	Tag	Value	Unit	Period
NET INCOME/LOSS	`NetIncomeLoss`	$-1.17M	USD	1 Quarter
NET INCOME/LOSS	`NetIncomeLoss`	$644.00K	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Foreign currency translation adjustments	`OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToParent`	$-124.00K	USD	1 Quarter
Gain on effective cash flow hedge	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	$623.00K	USD	1 Quarter
Gain on effective cash flow hedge	`OtherComprehensiveIncomeDerivativesQualifyingAsHedgesNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	$499.00K	USD	1 Quarter
Total other comprehensive income, net of tax	`OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent`	-	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$1.14M	USD	1 Quarter
COMPREHENSIVE INCOME (LOSS)	`ComprehensiveIncomeNetOfTax`	$-1.17M	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.