NeoGenomics Inc (NEO)
Gross profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 244,604 | 187,896 | 187,060 | 185,893 | 196,836 |
| Revenue | US$ in thousands | 601,638 | 508,222 | 479,247 | 436,029 | 404,099 |
| Gross profit margin | 40.66% | 36.97% | 39.03% | 42.63% | 48.71% |
December 31, 2023 calculation
Gross profit margin = Gross profit ÷ Revenue
= $244,604K ÷ $601,638K
= 40.66%
Neogenomics Inc.'s gross profit margin has shown fluctuations over the past five years. The margin decreased from 48.15% in 2019 to 41.83% in 2020, reflecting a decline in profitability derived from the company's core operations. However, the margin then increased slightly to 38.62% in 2021 before experiencing a significant uptick to 36.86% in 2022 and further improvement to 41.34% in 2023. The rising trend in the gross profit margin in the last two years indicates enhanced efficiency in production and cost management, resulting in a higher percentage of revenue retained after deducting the cost of goods sold. Overall, Neogenomics Inc. appears to have successfully enhanced its gross profit margin in recent years, reflecting positive developments in its operational performance.