10-Q Filing

NEOGENOMICS INC CIK: 1077183 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001564590-16-023004`
Period End Date	20160630
Filing Date	20160805
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	neo-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 80 Cash Flow Statement 56

Balance Sheet 70 line items

Line Item	Tag	Value	Unit	Period
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$4.76M	USD	Point-in-time
Accounts receivable, allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$9.20M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$26.53M	USD	Point-in-time
Property and equipment, accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$33.86M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$23.42M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$32.95M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$21.79M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$33.69M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $9,197 and $4,759, respectively)	`AccountsReceivableNetCurrent`	$53.51M	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	250.00M	shares	Point-in-time
Accounts receivable (net of allowance for doubtful accounts of $9,197 and $4,759, respectively)	`AccountsReceivableNetCurrent`	$48.94M	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	75.82M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	77.88M	shares	Point-in-time
Inventories	`InventoryNet`	$5.54M	USD	Point-in-time
Inventories	`InventoryNet`	$5.11M	USD	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$6.67M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	77.88M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.82M	shares	Point-in-time
Other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$4.89M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$87.51M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$82.36M	USD	Point-in-time
Property and equipment (net of accumulated depreciation of $33,858 and $26,534, respectively)	`PropertyPlantAndEquipmentNet`	$34.58M	USD	Point-in-time
Property and equipment (net of accumulated depreciation of $33,858 and $26,534, respectively)	`PropertyPlantAndEquipmentNet`	$33.58M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$87.80M	USD	Point-in-time
Intangible assets, net	`FiniteLivedIntangibleAssetsNet`	$84.16M	USD	Point-in-time
Goodwill	`Goodwill`	$146.18M	USD	Point-in-time
Goodwill	`Goodwill`	$146.42M	USD	Point-in-time
Goodwill	`Goodwill`	$2.93M	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$129.00K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$129.00K	USD	Point-in-time
Total assets	`Assets`	$351.29M	USD	Point-in-time
Total assets	`Assets`	$351.56M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$13.44M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.46M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$8.58M	USD	Point-in-time
Accrued compensation	`EmployeeRelatedLiabilitiesCurrent`	$6.22M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.37M	USD	Point-in-time
Accrued expenses and other liabilities	`AccruedLiabilitiesAndOtherLiabilities`	$7.60M	USD	Point-in-time
Revolving credit facility, net	`LineOfCredit`	$8.87M	USD	Point-in-time
Short-term portion of capital leases	`CapitalLeaseObligationsCurrent`	$4.69M	USD	Point-in-time
Short-term portion of capital leases	`CapitalLeaseObligationsCurrent`	$4.53M	USD	Point-in-time
Short-term portion of loans	`LongTermDebtCurrent`	$646.00K	USD	Point-in-time
Short-term portion of loans	`LongTermDebtCurrent`	$600.00K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$40.06M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$34.95M	USD	Point-in-time
Long-term portion of capital leases	`CapitalLeaseObligationsNoncurrent`	$4.75M	USD	Point-in-time
Long-term portion of capital leases	`CapitalLeaseObligationsNoncurrent`	$5.04M	USD	Point-in-time
Long-term portion of loans, net	`LongTermDebtNoncurrent`	$52.34M	USD	Point-in-time
Long-term portion of loans, net	`LongTermDebtNoncurrent`	$52.24M	USD	Point-in-time
Deferred income tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$16.25M	USD	Point-in-time
Deferred income tax liability, net	`DeferredTaxLiabilitiesNoncurrent`	$15.74M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$73.23M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$73.12M	USD	Point-in-time
Total liabilities	`Liabilities`	$108.19M	USD	Point-in-time
Total liabilities	`Liabilities`	$113.17M	USD	Point-in-time
Commitments and contingencies - see Note I	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies - see Note I	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock, $0.001 par value, (250,000,000 shares authorized; 77,882,016 and 75,820,307 shares issued and outstanding, respectively)	`CommonStockValueOutstanding`	$76.00K	USD	Point-in-time
Common stock, $0.001 par value, (250,000,000 shares authorized; 77,882,016 and 75,820,307 shares issued and outstanding, respectively)	`CommonStockValueOutstanding`	$78.00K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$236.18M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$231.38M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-21.94M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.63M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$203.63M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$209.51M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$351.56M	USD	Point-in-time
Total liabilities, redeemable convertible preferred stock and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$351.29M	USD	Point-in-time

Income Statement 80 line items

Line Item	Tag	Value	Unit	Period
Clinical testing revenue	`ClinicalTestingRevenue`	$24.05M	USD	1 Quarter
Clinical testing revenue	`ClinicalTestingRevenue`	$110.94M	USD	2 Qtrs
Clinical testing revenue	`ClinicalTestingRevenue`	$46.89M	USD	2 Qtrs
Clinical testing revenue	`ClinicalTestingRevenue`	$56.32M	USD	1 Quarter
BioPharma & research revenue	`BioPharmaAndResearchRevenue`	$11.90M	USD	2 Qtrs
BioPharma & research revenue	`BioPharmaAndResearchRevenue`	$6.81M	USD	1 Quarter
BioPharma & research revenue	`BioPharmaAndResearchRevenue`	$502.00K	USD	2 Qtrs
BioPharma & research revenue	`BioPharmaAndResearchRevenue`	$315.00K	USD	1 Quarter
Total Revenue, net	`SalesRevenueServicesNet`	$24.37M	USD	1 Quarter
Total Revenue, net	`SalesRevenueServicesNet`	$63.13M	USD	1 Quarter
Total Revenue, net	`SalesRevenueServicesNet`	$47.40M	USD	2 Qtrs
Total Revenue, net	`SalesRevenueServicesNet`	$122.83M	USD	2 Qtrs
COST OF REVENUE	`CostOfServices`	$13.56M	USD	1 Quarter
COST OF REVENUE	`CostOfServices`	$34.52M	USD	1 Quarter
COST OF REVENUE	`CostOfServices`	$27.04M	USD	2 Qtrs
COST OF REVENUE	`CostOfServices`	$67.06M	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$20.36M	USD	2 Qtrs
GROSS MARGIN	`GrossProfit`	$28.61M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$10.81M	USD	1 Quarter
GROSS MARGIN	`GrossProfit`	$55.78M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$36.78M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$7.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$13.60M	USD	2 Qtrs
General and administrative	`GeneralAndAdministrativeExpense`	$18.78M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$2.75M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$1.31M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.47M	USD	2 Qtrs
Research and development	`ResearchAndDevelopmentExpense`	$803.00K	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$5.82M	USD	2 Qtrs
Sales and marketing	`SellingAndMarketingExpense`	$6.33M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$2.91M	USD	1 Quarter
Sales and marketing	`SellingAndMarketingExpense`	$12.13M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$51.66M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$10.79M	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$20.89M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$26.41M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$28.00K	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-534.00K	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$4.11M	USD	2 Qtrs
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$2.19M	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-3.04M	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-384.00K	USD	2 Qtrs
Interest expense, net	`InterestIncomeExpenseNet`	$-189.00K	USD	1 Quarter
Interest expense, net	`InterestIncomeExpenseNet`	$-1.45M	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-918.00K	USD	2 Qtrs
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$745.00K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-161.00K	USD	1 Quarter
Income (loss) before taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$1.07M	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$332.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$505.00K	USD	2 Qtrs
Income tax expense	`IncomeTaxExpenseBenefit`	$15.00K	USD	1 Quarter
Income tax expense	`IncomeTaxExpenseBenefit`	$19.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-937.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$568.00K	USD	2 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-176.00K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$413.00K	USD	1 Quarter
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$1.84M	USD	1 Quarter
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$3.68M	USD	2 Qtrs
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$7.45M	USD	2 Qtrs
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$3.73M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-176.00K	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-10.56M	USD	2 Qtrs
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-5.15M	USD	1 Quarter
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-937.00K	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	$-0.14	USD	2 Qtrs
Basic	`EarningsPerShareBasic`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	-	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.14	USD	2 Qtrs
Diluted	`EarningsPerShareDiluted`	$-0.07	USD	1 Quarter
Diluted	`EarningsPerShareDiluted`	$-0.02	USD	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.35M	shares	2 Qtrs
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	77.45M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	60.42M	shares	1 Quarter
Basic	`WeightedAverageNumberOfSharesOutstandingBasic`	76.76M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	76.76M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.42M	shares	1 Quarter
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	60.35M	shares	2 Qtrs
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	77.45M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-937.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$568.00K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-176.00K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$413.00K	USD	1 Quarter
Depreciation	`Depreciation`	$3.25M	USD	2 Qtrs
Depreciation	`Depreciation`	$7.33M	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$190.00K	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$97.00K	USD	1 Quarter
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$3.64M	USD	2 Qtrs
Amortization of intangibles	`AmortizationOfIntangibleAssets`	$1.60M	USD	1 Quarter
Amortization of debt issue costs	`AmortizationOfFinancingCosts`	$358.00K	USD	2 Qtrs
Stock based compensation options, restricted stock and warrants	`ShareBasedCompensationAndWarrants`	$2.34M	USD	2 Qtrs
Stock based compensation options, restricted stock and warrants	`ShareBasedCompensationAndWarrants`	$1.02M	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$1.30M	USD	2 Qtrs
Provision for bad debts	`ProvisionForDoubtfulAccounts`	$5.43M	USD	2 Qtrs
(Increase) in accounts receivable, net of write-offs	`IncreaseDecreaseInAccountsReceivable`	$1.96M	USD	2 Qtrs
(Increase) in accounts receivable, net of write-offs	`IncreaseDecreaseInAccountsReceivable`	$10.00M	USD	2 Qtrs
(Increase) in inventories	`IncreaseDecreaseInInventories`	$800.00K	USD	2 Qtrs
(Increase) in inventories	`IncreaseDecreaseInInventories`	$437.00K	USD	2 Qtrs
(Increase) in prepaid expenses	`IncreaseDecreaseInPrepaidExpense`	$602.00K	USD	2 Qtrs
(Increase) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$129.00K	USD	2 Qtrs
Increase (Decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$-41.00K	USD	2 Qtrs
Increase (Decrease) in accounts payable and other liabilities	`IncreaseDecreaseInAccountsPayableAndOtherOperatingLiabilities`	$3.48M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$1.90M	USD	2 Qtrs
Net cash provided by operating activities	`NetCashProvidedByUsedInOperatingActivitiesContinuingOperations`	$12.10M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$1.18M	USD	2 Qtrs
Purchases of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$3.42M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-1.18M	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivitiesContinuingOperations`	$-3.42M	USD	2 Qtrs
Repayment of revolving credit facility	`RepaymentsOfLinesOfCredit`	$10.04M	USD	2 Qtrs
Repayment of capital lease obligations/loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$1.83M	USD	2 Qtrs
Repayment of capital lease obligations/loans	`RepaymentsOfLongTermDebtAndCapitalSecurities`	$2.61M	USD	2 Qtrs
Proceeds from the exercise of options, warrants and ESPP shares, net of transaction expenses	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$2.35M	USD	2 Qtrs
Proceeds from the exercise of options, warrants and ESPP shares, net of transaction expenses	`ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions`	$379.00K	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-1.45M	USD	2 Qtrs
Net cash used in financing activities	`NetCashProvidedByUsedInFinancingActivitiesContinuingOperations`	$-10.30M	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-737.00K	USD	2 Qtrs
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-1.63M	USD	2 Qtrs
Cash and cash equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$23.42M	USD	Point-in-time
Cash and cash equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$32.95M	USD	Point-in-time
Cash and cash equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$21.79M	USD	Point-in-time
Cash and cash equivalent, beginning of period	`CashAndCashEquivalentsAtCarryingValue`	$33.69M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$23.42M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$32.95M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$21.79M	USD	Point-in-time
Cash and cash equivalents, end of period	`CashAndCashEquivalentsAtCarryingValue`	$33.69M	USD	Point-in-time
Interest paid	`InterestPaid`	$417.00K	USD	2 Qtrs
Interest paid	`InterestPaid`	$2.69M	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$20.00K	USD	2 Qtrs
Income taxes paid	`IncomeTaxesPaid`	$222.00K	USD	2 Qtrs
Equipment acquired under capital lease/loan obligations	`CapitalLeaseObligationsIncurred`	$3.40M	USD	2 Qtrs
Equipment acquired under capital lease/loan obligations	`CapitalLeaseObligationsIncurred`	$2.58M	USD	2 Qtrs
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$1.84M	USD	1 Quarter
Deemed dividends on preferred stock	`RedeemablePreferredStockDividends`	$3.68M	USD	2 Qtrs
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$7.45M	USD	2 Qtrs
Amortization of preferred stock beneficial conversion feature	`AmortizationOfPreferredStockBeneficialConversionFeature`	$3.73M	USD	1 Quarter

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