Adjusted EBITDA was $10.7 million, down 2% from prior year, impacted by Pathline acquisition ramp; excluding Pathline, adjusted EBITDA grew 13%.
Adjusted gross profit improved by $4.6 million or 6% over prior year.
Cash flow from operations was positive $20 million, up 44% year-over-year, with cash and marketable securities ending at $164 million.
Clinical revenue grew 16% year-over-year with organic clinical revenue up 13%, driven by a 10% increase in test volumes and a 3% increase in average unit price (AUP).
NeoGenomics reported Q2 2025 revenue of $181 million, representing 10% year-over-year growth but slightly below guidance.
NGS testing accounted for 32% of total clinical revenue and grew 23%, slightly below the 25% target but above market growth rates.
Nonclinical revenue declined 26% year-over-year due to weakness in pharma and biotech customer demand.
The company retired $201 million of convertible notes in Q2, significantly reducing debt.
A $3 million gain was recorded from the sale of the Kv7 asset to Angelini Pharma, partially offset by an increase in CBR liability.
Cash balance at quarter-end was $41.6 million with $2 million cash used during the quarter.
Net loss for Q2 2025 was $15.9 million or $0.15 per share, compared to a net loss of $13.6 million or $0.13 per share in Q2 2024.
OmniAb reported Q2 2025 revenue of $3.9 million, down from $7.6 million in Q2 2024, primarily due to lower milestone achievements and service revenue declines.
Operating expenses decreased to $20.1 million from $23.9 million year-over-year, driven by reductions in R&D and G&A expenses.
Adjusted net income for Q2 was $20.5 million or $0.26 per share, compared to $19.3 million or $0.25 per share in the prior year quarter.
Net debt increased to $1.9 billion at June 30, 2025, primarily due to $100 million cash paid to terminate the Rotech acquisition, with operating cash flow improving to $38 million in Q2.
Second quarter 2025 revenue was $682 million, up 3.3% year-over-year, with adjusted EBITDA of $96.6 million representing a 14.2% margin, improved from 13.8% in Q2 2024.
Year-to-date revenue reached $1.36 billion, a 4.5% increase over the first half of 2024, driven by strong growth in sleep, ostomy, and urology categories.
Veracyte delivered approximately 25,500 Decipher tests in Q2, on track to exceed 100,000 tests annually, marking a significant milestone.
Decipher volume grew 28% year-over-year, with 13 consecutive quarters of over 25% growth, driven by strong execution and expanding clinical utility.
The metastatic prostate cancer test launch in June has generated increased physician interest, especially in high-risk NCCN patients, contributing to halo effects and future growth potential.
The company expects Decipher to maintain double-digit growth driven by market share gains, incidence growth, and expanding clinical evidence, including ongoing prospective trials and guideline updates.
Dafinchi