NeoGenomics Inc (NEO)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 290,100 | 244,604 | 187,896 | 187,060 | 185,893 |
| Revenue | US$ in thousands | 660,566 | 591,643 | 509,728 | 484,329 | 444,448 |
| Gross profit margin | 43.92% | 41.34% | 36.86% | 38.62% | 41.83% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $290,100K ÷ $660,566K
= 43.92%
The gross profit margin of NeoGenomics Inc has shown a decreasing trend from 2020 to 2022, dropping from 41.83% to 36.86%. However, there was a significant improvement in 2023, with the margin rising to 41.34%, and further increasing to 43.92% in 2024. This indicates that the company was able to effectively manage its cost of goods sold and improve its profitability over the period. The steady improvement in gross profit margin suggests that NeoGenomics Inc may have implemented strategies to enhance operational efficiency and pricing strategies to increase profitability.