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Neogenomics vs UL Solutions: revenue, profit, margins and growth compared

Neogenomics brought in $727.3M of revenue in fiscal 2025, UL Solutions $3.1B in fiscal 2025. Revenue changed by +10.1% at Neogenomics and +6.4% at UL Solutions on the year before, so Neogenomics grew faster. Neogenomics kept -14.9% of its revenue as net profit, UL Solutions 10.6%. Free cash flow was -$21.8M at Neogenomics and $403M at UL Solutions.

Side by side, latest fiscal year

NEOULS
Fiscal year endedFY2025 (December 31, 2025)FY2025 (December 31, 2025)
Revenue$727.3M$3.1B
Revenue growth+10.1%+6.4%
Net income-$108M$325M
Net margin-14.9%10.6%
Free cash flow-$21.8M$403M
Free cash flow margin-3.0%13.2%
Earnings per share (diluted)n/a$1.60
Cash$159.6M$295M
Debt$341.9M$491M
Price to earningsn/a41.3
Market value$2.5B$13.3B
Dividend yieldn/a0.79%
Rank by revenue in sector#170 of 523 · Health care#85 of 523 · Health care

Over the years

Revenue
NEO FY2018: $276.7MNEO FY2019: $408.8MNEO FY2020: $444.4MNEO FY2021: $484.3MNEO FY2022: $509.7MNEO FY2023: $591.6MNEO FY2024: $660.6MNEO FY2025: $727.3MULS FY2022: $2.5BULS FY2024: $2.7BULS FY2024: $2.9BULS FY2025: $3.1BFY18FY19FY20FY21FY22FY23FY24FY25
NEO $727.3MULS $3.1B
Net income
NEO FY2018: $2.6MNEO FY2019: $8MNEO FY2020: $4.2MNEO FY2021: -$8.3MNEO FY2022: -$144.3MNEO FY2023: -$88MNEO FY2024: -$78.7MNEO FY2025: -$108MULS FY2022: $293MULS FY2024: $260MULS FY2024: $326MULS FY2025: $325MFY18FY19FY20FY21FY22FY23FY24FY25
NEO -$108MULS $325M
Net margin
NEO FY2018: 1.0%NEO FY2019: 2.0%NEO FY2020: 0.9%NEO FY2021: -1.7%NEO FY2022: -28.3%NEO FY2023: -14.9%NEO FY2024: -11.9%NEO FY2025: -14.9%ULS FY2022: 11.6%ULS FY2024: 9.7%ULS FY2024: 11.4%ULS FY2025: 10.6%FY18FY19FY20FY21FY22FY23FY24FY25
NEO -14.9%ULS 10.6%
Revenue growth
NEO FY2019: +47.7%NEO FY2020: +8.7%NEO FY2021: +9.0%NEO FY2022: +5.2%NEO FY2023: +16.1%NEO FY2024: +11.6%NEO FY2025: +10.1%ULS FY2024: +6.3%ULS FY2024: +7.2%ULS FY2025: +6.4%FY19FY20FY21FY22FY23FY24FY25
NEO +10.1%ULS +6.4%
Free cash flow
NEO FY2018: $30.5MNEO FY2019: $3.3MNEO FY2020: -$27.6MNEO FY2021: -$90.9MNEO FY2022: -$96.9MNEO FY2023: -$30.7MNEO FY2024: -$34MNEO FY2025: -$21.8MULS FY2022: $208MULS FY2024: $252MULS FY2024: $287MULS FY2025: $403MFY18FY19FY20FY21FY22FY23FY24FY25
NEO -$21.8MULS $403M

Fiscal years as each company reports them; the two may end in different months.

Questions about Neogenomics and UL Solutions

Which is bigger by revenue, Neogenomics or UL Solutions?

UL Solutions is bigger by revenue: $3.1B in fiscal 2025, against $727.3M for Neogenomics in fiscal 2025.

Which keeps more of its revenue as profit, Neogenomics or UL Solutions?

Neogenomics had a net margin of -14.9% in fiscal 2025; UL Solutions had 10.6% in fiscal 2025.

Which grew revenue faster, Neogenomics or UL Solutions?

In their latest fiscal years revenue changed by +10.1% at Neogenomics and +6.4% at UL Solutions.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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