Fulgent Genetics Inc

FLGT

Equity

ISIN US3596641098 / Valor 33851033

NASDAQ (2024-11-22)

USD 17.87+5.43%

Fulgent Genetics Inc
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About company

Fulgent Genetics Inc, founded in 2011, is a leading genomic testing company in the United States, offering a wide range of genetic testing services including single gene tests, rare disease tests, whole genome sequencing, copy number variation analysis, mitochondrial sequencing, and quality sequencing services. With 7 CLIA-certified and CAP-accredited labs across the country, Fulgent maintains high standards in diagnostic testing. In addition to its testing services, the company is also involved in therapeutic development, focusing on developing drug candidates for various cancers using innovative nanoencapsulation and targeted therapy approaches. By combining its expertise in testing and drug development, Fulgent aims to become a fully integrated precision medicine company, with a focus on transforming patient care in oncology, anatomic pathology, infectious and rare diseases, and reproductive health.

Summarized from source with an LLMView SourceSector: Technology

Total Revenue

Fulgent Genetics Inc. reported total revenue of $64.5 million for the first quarter of 2024. This figure reflects the company's overall financial performance and includes all sources of income for the period ending March 31, 2024.

Core Revenue Growth

Fulgent Genetics Inc. saw its core revenue grow by 1% year-over-year, reaching $63.2 million in the first quarter of 2024. Core revenue excludes income from COVID-19 testing products and services, highlighting the company's performance in its primary business areas.

GAAP and Non-GAAP Losses

For the first quarter of 2024, Fulgent Genetics Inc. reported a GAAP loss of $13.5 million, or $0.45 per share. On a non-GAAP basis, the company experienced a much smaller loss of $269,000, or $0.01 per share, indicating adjustments for certain expenses and income items.

Cash Position

As of March 31, 2024, Fulgent Genetics Inc. had cash, cash equivalents, and investments in marketable securities totaling $846.2 million. This strong cash position underscores the company's financial stability and ability to fund future operations and growth initiatives.

Full Year 2024 Outlook

Fulgent Genetics Inc. reiterated its full-year 2024 guidance, expecting core revenue of approximately $280 million. The company also anticipates a GAAP loss of around $2.25 per share and a non-GAAP loss of about $1.05 per share, maintaining a robust cash position by year-end.

Summarized from source with an LLMView Source

Key figures

-35.0%1Y

-80.5%3Y

47.3%5Y

Performance

38.3%1Y

47.2%3Y

81.0%5Y

Volatility