NeoGenomics sees Q3 revenue $63.1M, consensus 4c
Sees Q3 adjusted EBITDA $6.0M. Estimates that Hurricanes Harvey and Irma depressed revenue by approximately $1.0M in Q3. The company also expects to record a one-time, $1.3M revenue adjustment to reflect a change in the process for estimating revenue for unbilled tests at quarter end. In addition, as a result of the divestiture of PathLogic, Q3 revenue will be approximately $1.3M less than in Q2. Believes impact to Adjusted EBITDA from hurricanes was approximately $1.2M as a result of the lost revenue and overtime charges incurred to process re-routed specimens in laboratory facilities not affected by the storms. Adjusted EBITDA will also be impacted by the one-time, $1.3 M change in unbilled revenue estimate and by higher bad debt expense, partially offset by an increase resulting from the divestiture of PathLogic.