NeoGenomics Inc (NEO)
Gross profit margin
| 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 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 244,604 | 233,841 | 220,423 | 204,478 | 187,896 | 176,328 | 174,674 | 183,718 | 187,060 | 199,256 | 206,082 | 181,098 | 185,893 | 178,363 | 175,130 | 196,090 | 196,836 | 184,024 | 165,513 | 147,077 |
| Revenue (ttm) | US$ in thousands | 601,638 | 580,487 | 554,336 | 529,041 | 507,523 | 493,983 | 486,680 | 484,258 | 482,622 | 482,400 | 486,504 | 451,757 | 442,254 | 425,319 | 404,547 | 419,283 | 408,830 | 378,437 | 342,861 | 308,894 |
| Gross profit margin | 40.66% | 40.28% | 39.76% | 38.65% | 37.02% | 35.70% | 35.89% | 37.94% | 38.76% | 41.31% | 42.36% | 40.09% | 42.03% | 41.94% | 43.29% | 46.77% | 48.15% | 48.63% | 48.27% | 47.61% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $244,604K ÷ $601,638K
= 40.66%
Neogenomics Inc.'s gross profit margin has shown a positive trend over the last eight quarters, indicating an improvement in the company's ability to generate profit from its core operations. The margin has consistently increased from 35.70% in Q2 2022 to 41.34% in Q4 2023. This indicates that the company has been able to effectively control its cost of goods sold and/or increase the prices of its products and services.
The steady improvement in gross profit margin reflects positively on Neogenomics Inc.'s operational efficiency and pricing strategy. It suggests that the company may have implemented cost-saving measures, negotiated better terms with suppliers, or introduced higher-margin services or products. Overall, the upward trend in the gross profit margin indicates that the company's financial performance in terms of generating gross profit has been strengthening steadily over the past eight quarters.