NeoGenomics Inc (NEO)

Cash ratio

		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	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash and cash equivalents	US$ in thousands	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	173,016	178,891	167,436	13,195
Short-term investments	US$ in thousands	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	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	63,904	68,907	59,162	72,703
Cash ratio		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	2.71	2.60	2.83	0.18

December 31, 2023 calculation

Cash ratio = (Cash and cash equivalents + Short-term investments) ÷ Total current liabilities
= ($342,488K + $72,715K) ÷ $96,304K
= 4.31

Neogenomics Inc.'s cash ratio measures its ability to cover short-term liabilities with its cash and cash equivalents. The cash ratio has shown a decreasing trend over the quarters, declining from 6.29 in Q1 2022 to 4.58 in Q4 2023. Although the ratio remains above 1, indicating the company can meet its short-term obligations, the decreasing trend warrants attention. The company may be using its cash for investments or other activities instead of maintaining higher levels for liquidity. Further analysis of the company's cash management practices and liquidity position is recommended to assess the potential impact of the decreasing cash ratio on Neogenomics Inc.'s financial health and operational capabilities.