Shares of NeoGenomics (NASDAQ: NEO) were up 23.52% Thursday afternoon after the company released its full-year and fourth-quarter report. The company, which focuses on oncology testing, has seen its shares rise more than 79% so far this year.

The healthcare company operates under two segments: pharma services and clinical services. This past summer, NeoGenomics appeared to be struggling with reduced revenue and earnings, but now appears to be on the road to recovery. The company reported fourth-quarter revenue of $139 million, up 10% year over year and up 8% sequentially. Both of the company's segments rose with clinical services reporting $108 million in sales, up 4% over the same period last year and pharma services jumping 41% year over year to $31 million in quarterly revenue. The company said the reasons for the improved numbers include improved revenue per test, testing volume, and better pharma services revenue.

The company said it had 2022 revenue of $510 million, up 5%. It did lose $142.3 million in net income in 2022, compared to a loss of $8.3 million the year before. However, the company only lost $23 million in the quarter compared to the $42 million it lost in the same period in 2021. 

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Source Fool.com