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Fulgent Reports Third Quarter 2024 Financial Results

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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.

Positive
  • 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
Negative
  • 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 9% year-over-year to $71.7 million, demonstrating organic growth in the laboratory services segment. However, the company posted a GAAP loss of $14.6 million ($0.48 per share), while maintaining a strong cash position of $815.4 million.

The improved full-year 2024 guidance is particularly noteworthy, with management raising EPS expectations from a loss of $1.95 to $1.70 per share and non-GAAP metrics shifting from a $0.30 loss to $0.33 income per share. The company's substantial cash reserves provide significant operational flexibility and potential for strategic investments.

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 $280 million, Improves Earnings Per Share Guidance for 2024

EL MONTE, Calif.--(BUSINESS WIRE)-- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent,” or the “Company”), a technology-based company with a well-established laboratory services business and a therapeutic development business, today announced financial results for its third quarter ended September 30, 2024.

Third Quarter 2024 Results:

  • Total Revenue of $71.7 million
  • Core Revenue1 grew 9% year-over-year to $71.7 million
  • GAAP loss of $14.6 million, or ($0.48) per share
  • Non-GAAP income of $9.4 million, or $0.31 per share
  • Adjusted EBITDA income of $0.4 million
  • Cash, cash equivalents, restricted cash, and investments in marketable securities of $815.4 million as of September 30, 2024
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 ($1.95) per share to approximately ($1.70) per share
  • Non-GAAP loss improvement from approximately ($0.30) loss per share to approximately $0.33 income per share
  • Cash, cash equivalents, and investments in marketable securities of approximately $800 million as of December 31, 2024*

*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 the United States of America, or GAAP, plus amortization of intangible assets, plus equity-based compensation expenses, plus impairment of available-for-sale debt securities, plus or minus the non-GAAP tax effect, and plus or minus other charges or gains, as identified, that management believes are not representative of the Company’s operations. The non-GAAP tax effect was calculated by excluding from the GAAP provision the impact of the amortization of intangible assets, equity-based compensation expenses, and impairment of available-for-sale debt securities. Fulgent defines adjusted EBITDA income (loss) as GAAP income (loss) plus or minus interest (expense) income, plus or minus provisions (benefits) for income taxes, plus equity-based compensation expenses, plus depreciation and amortization, plus impairment of available-for-sale debt securities, and plus or minus other charges or gains, as identified, that management believes are not representative of the Company’s operations. Fulgent defines non-GAAP gross profit as gross profit calculated in accordance with GAAP plus equity-based compensation included in cost of revenue as shown in the table below. Fulgent defines non-GAAP gross margin by taking non-GAAP gross profit and dividing it by GAAP revenue. Fulgent defines non-GAAP operating profit (loss) by taking GAAP operating profit (loss) and adding equity-based compensation and amortization of intangible assets. Non-GAAP operating margin is calculated by taking non-GAAP operating profit (loss) and dividing by GAAP revenue. Fulgent may continue to incur expenses similar to the items added to or subtracted from GAAP income (loss) to calculate non-GAAP income (loss) and adjusted EBITDA income (loss); accordingly, the exclusion of these items in the presentation of these non-GAAP financial measures should not be construed as an implication that these items are unusual, infrequent or non-recurring. Management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measure of net income (loss), gross profit and margin, and operating income (loss) and margin, in evaluating the Company’s operating performance. Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in conformity with GAAP, and non-GAAP financial measures as reported by Fulgent may not be comparable to similarly titled metrics reported by other companies.

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 U.S. Securities and Exchange Commission, or the SEC, including its annual report on Form 10-K for the fiscal year ended December 31, 2023, filed with the SEC on February 28, 2024, and the other reports it files from time to time, including subsequently filed annual, quarterly and current reports, are made available on the Company’s website upon their filing with the SEC. These reports contain more information about the Company, its business and the risks affecting its business, as well as its results of operations for the periods covered by the financial results included in this press release.

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
September 30,

 

Nine Months Ended
September 30,

 

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
September 30,

Nine Months Ended
September 30,

 

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
September 30,

 

Nine Months Ended
September 30,

 

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
September 30,

Nine Months Ended
September 30,

 

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

%

 

Investor Relations Contact:

The Blueshirt Group

Melanie Solomon, melanie@blueshirtgroup.com

Source: Fulgent Genetics, Inc.

FAQ

What was Fulgent's (FLGT) revenue in Q3 2024?

Fulgent reported total revenue of $71.7 million in Q3 2024, representing a 9% year-over-year growth in core revenue.

What is Fulgent's (FLGT) full-year 2024 revenue guidance?

Fulgent maintains its full-year 2024 core revenue guidance of approximately $280 million.

What was Fulgent's (FLGT) Q3 2024 earnings per share?

Fulgent reported a GAAP loss of $0.48 per share and non-GAAP income of $0.31 per share in Q3 2024.

How much cash and investments does Fulgent (FLGT) have?

As of September 30, 2024, Fulgent had $815.4 million in cash, cash equivalents, restricted cash, and investments in marketable securities.

Fulgent Genetics, Inc.

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Diagnostics & Research
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