Neogen Corporation
neogen.comWhat Do They Do?
Sells food-safety testing products and animal-health products and services to food and feed producers, processors, laboratories, veterinarians and livestock producers.
10-K for FY2026, filed Jul 30, 2026Neogen Corporation and its subsidiaries develop, manufacture and market a diverse line of products and services dedicated to food and…View ↗
Neogen’s Animal Safety segment is engaged in the development, manufacture, marketing and distribution of veterinary instruments…View ↗
Neogen’s Food Safety segment is primarily engaged in the manufacturing and marketing of diagnostic solutions, test kits, consumables, and…View ↗
Neogen’s Animal Safety segment encompasses a broad portfolio of products and services aimed at enhancing animal health, agricultural…View ↗
How Do They Make Money?
Customers pay for shipped diagnostic kits, culture media and animal-care products, and for genomic and other laboratory services; payment terms are generally 30 to 90 days.
10-K for FY2026, filed Jul 30, 2026Product revenue consists primarily of shipments of:View ↗
Diagnostic test kits, culture media and related products used by food producers and processors to detect harmful natural toxins, foodborne…View ↗
Consumable products marketed to veterinarians, retailers, livestock producers and animal health product distributors; andView ↗
Genomic identification and related interpretive bioinformatic services; andView ↗
Other commercial laboratory services.View ↗
Payment terms for products and services are generally 30 to 90 days.View ↗
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10-K for FY2026, filed Jul 30, 2026
FY2026 revenue by product or service ↗
$870.4M
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10-K for FY2026, filed Jul 30, 2026
$870.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Product Revenues
Sold outright
10-K for FY2026, filed Jul 30, 2026 |
88%
FY2023: 87%
|
Product Revenues, FY2026
$768.2M Sources
|
Sold outright |
|
Service Revenues
|
12%
FY2023: 13%
|
Service Revenues, FY2026
$102.2M Sources
|
Who Are Their Customers?
Food and feed producers, processors, and laboratories are served by sales staff and distributors. Animal-safety products go directly to consumers, dealers and veterinarians, as well as through distributors.
10-K for FY2026, filed Jul 30, 2026Neogen’s Food Safety segment is primarily engaged in the manufacturing and marketing of diagnostic solutions, test kits, consumables, and…View ↗
To reach each customer and prospect with expertise and experience, Neogen has a staff of specialized food safety sales and technical…View ↗
Neogen’s staff of specialized animal safety sales, marketing, customer and technical service representatives sell our products and services…View ↗
Neogen maintains locations outside of the United States in 28 other countries to provide a direct sales presence. We also maintain a…View ↗
Other distributor partners: Outside of our physical locations, Neogen uses our own sales managers in both the Food Safety and Animal Safety…View ↗
Do Revenues Turn Into Profits?
Not on paper. It lost $7.9M in FY2026, but brought in more cash than it spent: $31.9M of free cash flow.
10-K for FY2026, filed Jul 30, 2026
−$21.6MView ↗
10-K for FY2026, filed Jul 30, 2026
−$7.9MView ↗
10-K for FY2026, filed Jul 30, 2026
$31.9MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q1 FY2027, filed Oct 7, 2026
−$11.9MView ↗
- ▼ Now a loss
- vs $36.3M in Q1 FY2026
10-Q for Q1 FY2027, filed Oct 7, 2026
Open tableView ↗
Growing. Revenue grew 65% in 4 years, from $527.2M in FY2022 to $870.4M in FY2026, about 13% a year.
Cleaner portfolio divested
The earlier report included cleaners and disinfectants among Animal Safety offerings; the latest says Neogen divested its global Cleaners and Disinfectants business.
10-K for FY2023, filed Aug 15, 2023 10-K for FY2026, filed Jul 30, 2026Neogen’s Animal Safety segment is engaged in the development, manufacture, marketing, and distribution of veterinary instruments…View ↗
Neogen’s Animal Safety segment is engaged in the development, manufacture, marketing and distribution of veterinary instruments…View ↗
Genomics sale planned
The earlier report listed genomics testing services in Animal Safety; the latest says Neogen agreed to sell its Genomics business to Zoetis.
10-K for FY2023, filed Aug 15, 2023 10-K for FY2026, filed Jul 30, 2026Neogen’s Animal Safety segment is engaged in the development, manufacture, marketing, and distribution of veterinary instruments…View ↗
On March 2, 2026, Neogen Corporation announced that it had entered into a definitive agreement to sell its Genomics business to Zoetis Inc.…View ↗
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