NeoGenomics Inc (NEO)
Cash ratio
| Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and cash equivalents | US$ in thousands | 367,012 | 361,992 | 355,085 | 331,914 | 342,488 | 306,239 | 289,074 | 275,609 | 263,180 | 266,126 | 283,637 | 305,896 | 316,827 | 340,565 | 368,796 | 611,970 | 228,713 | 233,233 | 295,281 | 86,254 |
| Short-term investments | US$ in thousands | 19,832 | 25,821 | 32,770 | 52,916 | 72,715 | 96,025 | 120,272 | 142,306 | 174,809 | 177,414 | 182,316 | 175,534 | 198,563 | 202,144 | 202,950 | 190,710 | 67,546 | 50,375 | — | — |
| Total current liabilities | US$ in thousands | 301,241 | 296,406 | 289,959 | 76,710 | 96,304 | 92,926 | 94,848 | 86,606 | 89,932 | 85,003 | 82,670 | 82,070 | 87,232 | 92,737 | 99,131 | 67,750 | 73,183 | 64,612 | 61,700 | 67,649 |
| Cash ratio | 1.28 | 1.31 | 1.34 | 5.02 | 4.31 | 4.33 | 4.32 | 4.83 | 4.87 | 5.22 | 5.64 | 5.87 | 5.91 | 5.85 | 5.77 | 11.85 | 4.05 | 4.39 | 4.79 | 1.28 |
December 31, 2024 calculation
Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($367,012K
+ $19,832K)
÷ $301,241K
= 1.28
The cash ratio of NeoGenomics Inc, a measure of its ability to cover short-term liabilities with its cash and cash equivalents, has shown fluctuations over the provided time period. The cash ratio ranged from a low of 1.28 as of March 31, 2020, to a high of 11.85 as of March 31, 2021. This significant increase in the cash ratio indicates the company had a substantial amount of cash on hand relative to its short-term obligations.
Subsequently, the cash ratio decreased to around the range of 4 to 6 for the periods between June 30, 2021, and March 31, 2024. This range suggests a healthy level of liquidity, with the company still holding an adequate amount of cash to cover its short-term liabilities.
However, there was a notable decline in the cash ratio as of June 30, 2024, dropping back to 1.34 and further decreasing to 1.28 as of December 31, 2024. This decrease could raise concerns about the company's ability to cover its short-term obligations solely with its existing cash reserves.
Overall, while NeoGenomics Inc experienced fluctuations in its cash ratio, it demonstrated a strong ability to meet short-term financial obligations throughout the period, with some variations that may warrant further analysis to understand the factors contributing to the changes.