Fulgent Genetics (NASDAQ:FLGT) Issues Earnings Results

Key Points

• Fulgent Genetics reported a quarterly loss of $0.09 per share, beating analyst estimates of a $0.65 loss, while revenue of $90.4 million also topped expectations.
• Revenue rose 8% year over year, led by growth in Anatomic Pathology and BioPharma Services, partly from integrating Bako and StrataDx; Precision Diagnostics revenue fell 18%.
• The company narrowed its 2026 non-GAAP loss-per-share outlook to $1.65–$1.75 and expects about $630 million in year-end cash and marketable securities, largely reflecting a federal tax refund and interest.

Fulgent Genetics (NASDAQ:FLGT - Get Free Report) announced its earnings results on Thursday. The company reported ($0.09) earnings per share for the quarter, topping analysts' consensus estimates of ($0.65) by $0.56, FiscalAI reports. Fulgent Genetics had a negative return on equity of 4.93% and a negative net margin of 26.05%. The business had revenue of $90.41 million for the quarter, compared to analyst estimates of $86.30 million.

Here are the key takeaways from Fulgent Genetics' conference call:

• Third-quarter revenue rose 8% year over year to $90.4 million, with Anatomic Pathology up 57% and BioPharma Services up 5%; growth was primarily driven by the integration of Bako and StrataDx. Precision Diagnostics declined 18% year over year.
• Management reported improving collections after billing-system customizations helped lift third-quarter revenue and gross margin sequentially. The transition is not complete, however, and management said further work is needed before collections return to historical levels.
• Fulgent narrowed its 2026 non-GAAP loss-per-share outlook to $1.65–$1.75 from $2.22–$2.35, and raised its projected year-end cash, restricted cash, and marketable securities to about $630 million. The cash increase chiefly reflects a $112.3 million federal tax refund and related interest.
• The company reported progress in its oncology pipeline: FID-007’s Phase II is mostly complete, with a Phase III study in preparation, while FID-022 is in Phase I dose escalation. These programs remain clinical-stage and their commercial prospects are uncertain.
• Fulgent’s AI platform analyzed about 255,000 slide images in Q3, up 23% sequentially, and analysis failures fell to 0.01%; five additional AI applications are planned for Q4. Management said the technology could improve quality and productivity, though it did not quantify a current financial benefit.

Fulgent Genetics Trading Up 27.2%

Shares of FLGT traded up $5.08 during midday trading on Friday, reaching $23.74. The stock had a trading volume of 1,097,340 shares, compared to its average volume of 274,766. The company's 50-day moving average is $20.80 and its 200 day moving average is $19.31. Fulgent Genetics has a 12-month low of $13.46 and a 12-month high of $31.04. The company has a market capitalization of $653.09 million, a price-to-earnings ratio of -7.68 and a beta of 1.00.

Insider Activity

In related news, insider Hanlin Gao sold 1,673 shares of the firm's stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total transaction of $32,891.18. Following the transaction, the insider directly owned 986,117 shares of the company's stock, valued at approximately $19,387,060.22. This trade represents a 0.17% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,127 shares of the business's stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $19.66, for a total value of $41,816.82. Following the completion of the sale, the chief operating officer owned 359,924 shares of the company's stock, valued at $7,076,105.84. The trade was a 0.59% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,932 shares of company stock worth $117,156 over the last quarter. Corporate insiders own 36.18% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Weiss Ratings raised Fulgent Genetics from a "sell (e+)" rating to a "sell (d-)" rating in a report on Thursday, August 27th. Piper Sandler raised their target price on shares of Fulgent Genetics from $15.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen raised shares of Fulgent Genetics from a "sell" rating to a "hold" rating in a research note on Saturday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $27.50.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc is a technology-driven clinical diagnostics company that develops and performs genetic testing. Its testing platform uses next-generation sequencing and other molecular technologies to analyze DNA and support the diagnosis, screening and management of inherited and acquired diseases.

The company offers a range of tests, including panels for hereditary cancer, reproductive health and inherited disorders, as well as tumor profiling and other specialized clinical testing services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.