Fulgent Reports Third Quarter 2024 Financial Results
Fulgent Genetics (NASDAQ: FLGT) reported Q3 2024 financial results with total revenue of $71.7 million, representing a 9% year-over-year growth in core revenue. The company posted a GAAP loss of $14.6 million (-$0.48 per share) and non-GAAP income of $9.4 million ($0.31 per share). The company maintains strong liquidity with $815.4 million in cash and investments.
Fulgent reiterates its full-year 2024 core revenue guidance of $280 million and improves its GAAP loss guidance from -$1.95 to -$1.70 per share. The company also revised its non-GAAP outlook from a loss of $0.30 per share to an income of $0.33 per share.
Fulgent Genetics (NASDAQ: FLGT) ha riportato i risultati finanziari per il terzo trimestre del 2024 con un fatturato totale di 71,7 milioni di dollari, che rappresenta una crescita del 9% rispetto all'anno precedente nel fatturato core. L'azienda ha registrato una perdita GAAP di 14,6 milioni di dollari (-0,48 dollari per azione) e un reddito non-GAAP di 9,4 milioni di dollari (0,31 dollari per azione). L'azienda mantiene una forte liquidità con 815,4 milioni di dollari in contante e investimenti.
Fulgent ribadisce la sua guida per il fatturato core dell'intero anno 2024 di 280 milioni di dollari e migliora la sua guida sulla perdita GAAP da -1,95 a -1,70 dollari per azione. L'azienda ha anche rivisto le sue previsioni non-GAAP, passando da una perdita di 0,30 dollari per azione a un reddito di 0,33 dollari per azione.
Fulgent Genetics (NASDAQ: FLGT) reportó resultados financieros para el tercer trimestre de 2024 con un ingresos total de 71.7 millones de dólares, lo que representa un crecimiento del 9% interanual en los ingresos fundamentales. La compañía tuvo una pérdida GAAP de 14.6 millones de dólares (-0.48 dólares por acción) y un ingreso no-GAAP de 9.4 millones de dólares (0.31 dólares por acción). La empresa mantiene una sólida liquidez con 815.4 millones de dólares en efectivo e inversiones.
Fulgent reitera su guía de ingresos fundamentales para todo el año 2024 de 280 millones de dólares y mejora su guía de pérdida GAAP de -1.95 a -1.70 dólares por acción. La empresa también revisó su perspectiva no-GAAP de una pérdida de 0.30 dólares por acción a un ingreso de 0.33 dólares por acción.
풀전트 유전학 (NASDAQ: FLGT)은 2024년 3분기 재무 결과를 발표하며 총 수익이 7170만 달러에 달하고, 이는 핵심 수익 기준으로 전년 대비 9% 성장한 수치입니다. 이 회사는 GAAP 기준으로 1460만 달러의 손실(-0.48 달러 주당)을 기록하며 비GAAP 기준으로 940만 달러의 수익(0.31 달러 주당)을 올렸습니다. 이 회사는 8억 1540만 달러의 현금 및 투자로 강력한 유동성을 유지하고 있습니다.
풀전트는 2024년 전체 연도 핵심 수익 가이던스를 2억 8000만 달러로 재확인하고, GAAP 손실 가이던스를 -1.95에서 -1.70 달러 주당으로 개선했습니다. 또한 비GAAP 전망을 주당 0.30 달러의 손실에서 0.33 달러의 수익으로 수정했습니다.
Fulgent Genetics (NASDAQ: FLGT) a publié les résultats financiers du troisième trimestre 2024, avec un chiffre d'affaires total de 71,7 millions de dollars, représentant une croissance de 9 % d'une année sur l'autre dans le chiffre d'affaires principal. L'entreprise a enregistré une perte GAAP de 14,6 millions de dollars (-0,48 dollar par action) et un revenu non-GAAP de 9,4 millions de dollars (0,31 dollar par action). L'entreprise maintient une forte liquidité avec 815,4 millions de dollars en espèces et investissements.
Fulgent réitère sa prévision de chiffre d'affaires principal pour l'année complète 2024 de 280 millions de dollars et améliore sa prévision de perte GAAP de -1,95 à -1,70 dollar par action. L'entreprise a également révisé ses prévisions non-GAAP d'une perte de 0,30 dollar par action à un revenu de 0,33 dollar par action.
Fulgent Genetics (NASDAQ: FLGT) hat die finanziellen Ergebnisse für das 3. Quartal 2024 bekannt gegeben, mit einem Gesamtumsatz von 71,7 Millionen US-Dollar, was einem Wachstum von 9% im Vergleich zum Vorjahr im Kerngeschäft entspricht. Das Unternehmen meldete einen GAAP-Verlust von 14,6 Millionen US-Dollar (-0,48 US-Dollar pro Aktie) und ein Non-GAAP-Einkommen von 9,4 Millionen US-Dollar (0,31 US-Dollar pro Aktie). Das Unternehmen verfügt über eine starke Liquidität mit 815,4 Millionen US-Dollar in Bargeld und Investitionen.
Fulgent bekräftigt die Umsatzprognose für das gesamte Jahr 2024 von 280 Millionen US-Dollar im Kerngeschäft und verbessert die GAAP Verlustprognose von -1,95 auf -1,70 US-Dollar pro Aktie. Das Unternehmen hat auch die Non-GAAP-Aussichten von einem Verlust von 0,30 US-Dollar pro Aktie auf ein Einkommen von 0,33 US-Dollar pro Aktie angepasst.
- 9% year-over-year growth in core revenue to $71.7 million
- Strong liquidity position with $815.4 million in cash and investments
- Improved earnings guidance for 2024
- Sequential growth in all three areas of Laboratory Services
- GAAP loss of $14.6 million in Q3 2024
- Projected full-year GAAP loss, despite improvement in guidance
Insights
The Q3 2024 results show mixed performance with notable metrics. Core revenue grew
The improved full-year 2024 guidance is particularly noteworthy, with management raising EPS expectations from a loss of
The company's therapeutic development pipeline shows promising advancement, particularly with FID-007's Phase 2 clinical trial in Head and Neck Cancer reporting encouraging preliminary results. The progression of FID-022 through preclinical studies toward IND application indicates momentum in the drug development segment. The sequential growth across all three areas of Laboratory Services suggests successful diversification beyond their historical COVID-19 testing focus.
-
Total Revenue of
$71.7 million -
Core Revenue grows
9% year-over-year to$71.7 million -
Reiterates Full Year 2024 Core Revenue Guidance of
, Improves Earnings Per Share Guidance for 2024$280 million
Third Quarter 2024 Results:
-
Total Revenue of
$71.7 million -
Core Revenue1 grew
9% year-over-year to$71.7 million -
GAAP loss of
, or ($14.6 million ) per share$0.48 -
Non-GAAP income of
, or$9.4 million per share$0.31 -
Adjusted EBITDA income of
$0.4 million -
Cash, cash equivalents, restricted cash, and investments in marketable securities of
as of September 30, 2024$815.4 million
Note: | |
1) Core Revenue is revenue calculated in accordance with GAAP minus revenue from COVID-19 testing products and services including COVID-19 NGS testing revenue, each as calculated in accordance with GAAP. |
Non-GAAP income (loss), non-GAAP income (loss) per share, adjusted EBITDA income (loss), non-GAAP gross profit and margin, and non-GAAP operating income (loss) and margin, are described below under “Note Regarding Non-GAAP Financial Measures” and are reconciled to the most directly comparable GAAP financial measure, GAAP income (loss), GAAP gross profit and margin, and GAAP operating income (loss) and margin, in the accompanying tables.
Ming Hsieh, Chairperson of the Board of Directors and Chief Executive Officer, said, “We continue to see good momentum in our business, with Laboratory Services fueling our initiatives and exhibiting sequential growth in all three areas of our Laboratory Services business for the quarter. In Therapeutics Development, we are encouraged by the preliminary results we are seeing from initial patients being treated in our Phase 2 clinical trial of FID-007 in Head and Neck Cancer, and we continue to move our next candidate, FID-022, through preclinical studies toward an Investigational New Drug (IND) application.”
Paul Kim, Chief Financial Officer, said, “We are pleased with our financial performance in the third quarter and our trajectory for the remainder of 2024, as we continue to grow core revenue and improve operations.”
Outlook:
For the full year 2024, Fulgent expects:
-
Core Revenue of approximately
$280 million -
GAAP loss improvement from approximately (
) per share to approximately ($1.95 ) per share$1.70 -
Non-GAAP loss improvement from approximately (
) loss per share to approximately$0.30 income per share$0.33 -
Cash, cash equivalents, and investments in marketable securities of approximately
as of December 31, 2024*$800 million
*Cash expenditures may be higher or lower than currently estimated due to a variety of factors and circumstances, including as a result of the Company’s ongoing stock repurchase program or other expenditures outside the ordinary course of business.
Conference Call Information
Fulgent will host a conference call for the investment community today at 8:30 AM ET (5:30 AM PT) to discuss its third quarter 2024 results. The call may be accessed through a live audio webcast in the Investor Relations section of the Company’s website, http://ir.fulgentgenetics.com. An audio replay will be available at the same location.
Note Regarding Non-GAAP Financial Measures
Certain information set forth in this press release and/or to be discussed on the Company’s earnings call, including non-GAAP income (loss), non-GAAP income (loss) per share, adjusted EBITDA income (loss), non-GAAP gross profit and margin, and non-GAAP operating income (loss) and margin are non-GAAP financial measures. Fulgent believes this information is useful to investors because it provides a basis for measuring the performance of the Company’s business, excluding certain income or expense items that management believes are not directly attributable to the Company’s operating results. Fulgent defines non-GAAP income (loss) as net income (loss) calculated in accordance with accounting principles generally accepted in
About Fulgent
Fulgent is a technology-based company with a well-established laboratory services business and a therapeutic development business. Fulgent’s laboratory services business, which was formerly referred to as the clinical diagnostic business, includes technical laboratory services and professional interpretation of laboratory results by licensed physicians. Fulgent’s therapeutic development business is focused on developing drug candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The Company aims to transform from a genomic diagnostic business into a fully integrated precision medicine company.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements in this press release include statements about, among other things: future performance; guidance, including guidance regarding expected quarterly and annual financial results, core revenues, GAAP loss, non-GAAP loss, and cash, cash equivalents and investments in marketable securities; evaluations and judgments regarding the stability of certain revenue sources, the Company’s cash position and sufficiency of its resources, momentum, trajectory, vision, future opportunities and future growth of the Company’s testing and laboratory services, technologies and expansion; the Company’s research and development efforts, including any implications that the results of earlier clinical trials will be representative or consistent with later clinical trials, the expected timing of enrollment and regulatory filings for these trials and the availability of data or results of these trials, including any implication that interim or preliminary data will be representative of final data; the Company’s identification and evaluation of opportunities and its ability to capitalize on opportunities, capture market share, or expand its presence in certain markets; and the Company’s ability to continue to grow its business.
Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the Company’s future performance, and they are based on management’s current assumptions, expectations, and beliefs concerning future developments and their potential effect on the Company’s business. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. These risks and uncertainties include, among others: the market potential for, and the rate and degree of market adoption of, the Company’s tests; its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the Company’s ability to maintain the low internal costs of its business model; the Company’s ability to maintain an acceptable margin; risks related to volatility in the Company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the Company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the Company’s revenue; the Company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests and testing services; the Company’s level of success in establishing and obtaining the intended benefits from partnerships, strategic investments, joint ventures, acquisitions, or other relationships; the success of the Company’s development efforts, including the Company’s ability to progress its candidates through clinical trials on the timelines expected; the Company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; and the Company’s ability to protect its proprietary technology and intellectual property. As a result of these risks and uncertainties, forward-looking statements should not be relied on or viewed as predictions of future events.
The forward-looking statements made in this press release speak only as of the date of this press release, and the Company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law.
The Company’s reports filed with the
FULGENT GENETICS, INC. |
|||||||||
Condensed Consolidated Balance Sheet Data |
|||||||||
September 30, 2024 and December 31, 2023 |
|||||||||
(in thousands) |
|||||||||
|
|
|
|
|
|
||||
|
|
September 30, 2024 |
|
|
December 31, 2023 |
||||
ASSETS: |
|
|
|
|
|
||||
Cash and cash equivalents |
|
$ |
58,042 |
|
|
|
$ |
97,473 |
|
Investments in marketable securities |
|
|
757,259 |
|
|
|
|
750,252 |
|
Accounts receivable, net |
|
|
57,315 |
|
|
|
|
51,132 |
|
Property, plant, and equipment, net |
|
|
106,810 |
|
|
|
|
83,464 |
|
Other assets |
|
|
254,337 |
|
|
|
|
253,007 |
|
Total assets |
|
$ |
1,233,763 |
|
|
|
$ |
1,235,328 |
|
LIABILITIES & EQUITY: |
|
|
|
|
|
||||
Accounts payable, accrued liabilities and other liabilities |
|
$ |
98,865 |
|
|
|
$ |
102,042 |
|
Total stockholders’ equity |
|
|
1,134,898 |
|
|
|
|
1,133,286 |
|
Total liabilities & equity |
|
$ |
1,233,763 |
|
|
|
$ |
1,235,328 |
|
FULGENT GENETICS, INC. |
||||||||||||||||
Condensed Consolidated Statement of Operations Data |
||||||||||||||||
Three and Nine Months Ended September 30, 2024 and 2023 |
||||||||||||||||
(in thousands, except per share data) |
||||||||||||||||
(unaudited) |
||||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Revenue |
$ |
71,743 |
|
$ |
84,687 |
|
$ |
207,256 |
|
$ |
218,708 |
|
||||
Cost of revenue (1) |
|
44,972 |
|
|
44,843 |
|
|
131,890 |
|
|
139,481 |
|
||||
Gross profit |
|
26,771 |
|
|
39,844 |
|
|
75,366 |
|
|
79,227 |
|
||||
Operating expenses: |
|
|
|
|
|
|
|
|
||||||||
Research and development (1) |
|
11,783 |
|
|
10,014 |
|
|
36,703 |
|
|
29,488 |
|
||||
Selling and marketing (1) |
|
9,124 |
|
|
10,161 |
|
|
26,708 |
|
|
30,967 |
|
||||
General and administrative (1) |
|
20,950 |
|
|
17,498 |
|
|
63,765 |
|
|
57,293 |
|
||||
Amortization of intangible assets |
|
1,993 |
|
|
1,957 |
|
|
5,973 |
|
|
5,887 |
|
||||
Total operating expenses |
|
43,850 |
|
|
39,630 |
|
|
133,149 |
|
|
123,635 |
|
||||
Operating (loss) income |
|
(17,079 |
) |
|
214 |
|
|
(57,783 |
) |
|
(44,408 |
) |
||||
Interest income |
|
8,090 |
|
|
6,472 |
|
|
23,181 |
|
|
15,802 |
|
||||
Interest expense |
|
(14 |
) |
|
(70 |
) |
|
210 |
|
|
(625 |
) |
||||
Impairment of available-for-sale debt securities |
|
(10,073 |
) |
|
— |
|
|
(10,073 |
) |
|
— |
|
||||
Other income, net |
|
544 |
|
|
244 |
|
|
554 |
|
|
342 |
|
||||
Total other (expense) income, net |
|
(1,453 |
) |
|
6,646 |
|
|
13,872 |
|
|
15,519 |
|
||||
(Loss) income before income taxes |
|
(18,532 |
) |
|
6,860 |
|
|
(43,911 |
) |
|
(28,889 |
) |
||||
(Benefit from) provision for income taxes |
|
(3,838 |
) |
|
20,326 |
|
|
(6,281 |
) |
|
12,016 |
|
||||
Net loss from consolidated operations |
|
(14,694 |
) |
|
(13,466 |
) |
|
(37,630 |
) |
|
(40,905 |
) |
||||
Net loss attributable to noncontrolling interests |
|
46 |
|
|
359 |
|
|
810 |
|
|
1,229 |
|
||||
Net loss attributable to Fulgent |
$ |
(14,648 |
) |
$ |
(13,107 |
) |
$ |
(36,820 |
) |
$ |
(39,676 |
) |
||||
|
|
|
|
|
|
|
|
|
||||||||
Net loss per common share attributable to Fulgent: |
|
|||||||||||||||
Basic |
$ |
(0.48 |
) |
$ |
(0.44 |
) |
$ |
(1.22 |
) |
$ |
(1.33 |
) |
||||
Diluted |
$ |
(0.48 |
) |
$ |
(0.44 |
) |
$ |
(1.22 |
) |
$ |
(1.33 |
) |
||||
Weighted-average common shares: |
|
|
|
|
|
|
|
|
||||||||
Basic |
|
30,416 |
|
|
30,013 |
|
|
30,095 |
|
|
29,789 |
|
||||
Diluted |
|
30,416 |
|
|
30,013 |
|
|
30,095 |
|
|
29,789 |
|
||||
|
|
|
|
|
|
|
|
|
||||||||
(1) Equity-based compensation expense was allocated as follows: |
|
|||||||||||||||
Cost of revenue |
$ |
1,940 |
|
$ |
2,621 |
|
$ |
5,948 |
|
$ |
7,374 |
|
||||
Research and development |
|
3,583 |
|
|
3,782 |
|
|
11,563 |
|
|
10,900 |
|
||||
Selling and marketing |
|
931 |
|
|
1,189 |
|
|
2,983 |
|
|
3,644 |
|
||||
General and administrative |
|
4,466 |
|
|
3,310 |
|
|
13,579 |
|
|
9,572 |
|
||||
Total equity-based compensation expense |
$ |
10,920 |
|
$ |
10,902 |
|
$ |
34,073 |
|
$ |
31,490 |
|
||||
FULGENT GENETICS, INC. |
||||||||||||||||
Non-GAAP Income (Loss) Reconciliation |
||||||||||||||||
Three and Nine Months Ended September 30, 2024 and 2023 |
||||||||||||||||
(in thousands, except per share data) |
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
Nine Months Ended
|
||||||||||||||
|
2024 |
2023 |
2024 |
2023 |
||||||||||||
Net loss attributable to Fulgent |
$ |
(14,648 |
) |
$ |
(13,107 |
) |
$ |
(36,820 |
) |
$ |
(39,676 |
) |
||||
Amortization of intangible assets |
|
1,993 |
|
|
1,957 |
|
|
5,973 |
|
|
5,887 |
|
||||
Equity-based compensation expense |
|
10,920 |
|
|
10,902 |
|
|
34,073 |
|
|
31,490 |
|
||||
Impairment of available-for-sale debt securities |
|
10,073 |
|
|
— |
|
|
10,073 |
|
|
— |
|
||||
Non-GAAP tax effect (1) |
|
1,100 |
|
|
(11,402 |
) |
|
569 |
|
|
(18,267 |
) |
||||
Non-GAAP income (loss) attributable to Fulgent |
$ |
9,438 |
|
$ |
(11,650 |
) |
$ |
13,868 |
|
$ |
(20,566 |
) |
||||
|
|
|
|
|
|
|
|
|
||||||||
Net loss per common share attributable to Fulgent: |
|
|||||||||||||||
Basic |
$ |
(0.48 |
) |
$ |
(0.44 |
) |
$ |
(1.22 |
) |
$ |
(1.33 |
) |
||||
Diluted |
$ |
(0.48 |
) |
$ |
(0.44 |
) |
$ |
(1.22 |
) |
$ |
(1.33 |
) |
||||
|
|
|
|
|
|
|
|
|
||||||||
Non-GAAP income (loss) per common share attributable to Fulgent: |
|
|||||||||||||||
Basic |
$ |
0.31 |
|
$ |
(0.39 |
) |
$ |
0.46 |
|
$ |
(0.69 |
) |
||||
Diluted |
$ |
0.31 |
|
$ |
(0.39 |
) |
$ |
0.46 |
|
$ |
(0.69 |
) |
||||
|
|
|
|
|
|
|
|
|
||||||||
Weighted average common shares: |
|
|||||||||||||||
Basic |
|
30,416 |
|
|
30,013 |
|
|
30,095 |
|
|
29,789 |
|
||||
Diluted |
|
30,679 |
|
|
30,013 |
|
|
30,404 |
|
|
29,789 |
|
(1) Tax rates as follows: |
|
During the three and nine months ended September 30, 2024 and 2023, the Company calculated an income tax provision on a non-GAAP basis. |
FULGENT GENETICS, INC. |
||||||||||||||||
Non-GAAP Adjusted EBITDA Reconciliation |
||||||||||||||||
Three and Nine Months Ended September 30, 2024 and 2023 |
||||||||||||||||
(in thousands) |
|
|||||||||||||||
|
Three Months Ended
|
|
Nine Months Ended
|
|||||||||||||
|
2024 |
|
2023 |
|
2024 |
|
2023 |
|||||||||
Net loss attributable to Fulgent |
$ |
(14,648 |
) |
$ |
(13,107 |
) |
$ |
(36,820 |
) |
$ |
(39,676 |
) |
||||
Interest income, net |
|
(8,076 |
) |
|
(6,402 |
) |
|
(23,391 |
) |
|
(15,177 |
) |
||||
(Benefit from) provision for income taxes |
|
(3,838 |
) |
|
20,326 |
|
|
(6,281 |
) |
|
12,016 |
|
||||
Equity-based compensation expense |
|
10,920 |
|
|
10,902 |
|
|
34,073 |
|
|
31,490 |
|
||||
Depreciation and amortization |
|
5,920 |
|
|
6,419 |
|
|
18,736 |
|
|
19,610 |
|
||||
Impairment of available-for-sale debt securities |
|
10,073 |
|
|
— |
|
|
10,073 |
|
|
— |
|
||||
Adjusted EBITDA |
$ |
351 |
|
$ |
18,138 |
|
$ |
(3,610 |
) |
$ |
8,263 |
|
FULGENT GENETICS, INC. |
||||||||||||||||
Non-GAAP Operating Margin |
||||||||||||||||
Three and Nine Months Ended September 30, 2024 and 2023 |
||||||||||||||||
(in thousands) |
|
|
|
|
|
|
|
|
||||||||
|
Three Months Ended
|
Nine Months Ended
|
||||||||||||||
|
2024 |
2023 |
2024 |
2023 |
||||||||||||
Revenue |
$ |
71,743 |
|
$ |
84,687 |
|
$ |
207,256 |
|
$ |
218,708 |
|
||||
Cost of revenue |
|
44,972 |
|
|
44,843 |
|
|
131,890 |
|
|
139,481 |
|
||||
Gross profit |
|
26,771 |
|
|
39,844 |
|
|
75,366 |
|
|
79,227 |
|
||||
Gross margin |
|
37.3 |
% |
|
47.0 |
% |
|
36.4 |
% |
|
36.2 |
% |
||||
|
|
|
|
|
|
|
|
|
||||||||
Equity-based compensation included in cost of revenue |
|
1,940 |
|
|
2,621 |
|
|
5,948 |
|
|
7,374 |
|
||||
Non-GAAP gross profit |
|
28,711 |
|
|
42,465 |
|
|
81,314 |
|
|
86,601 |
|
||||
Non-GAAP gross margin |
|
40.0 |
% |
|
50.1 |
% |
|
39.2 |
% |
|
39.6 |
% |
||||
|
|
|
|
|
|
|
|
|
||||||||
Operating expenses |
|
43,850 |
|
|
39,630 |
|
|
133,149 |
|
|
123,635 |
|
||||
Equity-based compensation included in operating expenses |
|
8,980 |
|
|
8,281 |
|
|
28,125 |
|
|
24,116 |
|
||||
Amortization of intangible assets |
|
1,993 |
|
|
1,957 |
|
|
5,973 |
|
|
5,887 |
|
||||
Non-GAAP operating expenses |
|
32,877 |
|
|
29,392 |
|
|
99,051 |
|
|
93,632 |
|
||||
Non-GAAP operating loss |
$ |
(4,166 |
) |
$ |
13,073 |
|
$ |
(17,737 |
) |
$ |
(7,031 |
) |
||||
Non-GAAP operating margin |
|
-5.8 |
% |
|
15.4 |
% |
|
-8.6 |
% |
|
-3.2 |
% |
View source version on businesswire.com: https://www.businesswire.com/news/home/20241107037183/en/
Investor Relations Contact:
The Blueshirt Group
Melanie Solomon, melanie@blueshirtgroup.com
Source: Fulgent Genetics, Inc.
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