Fulgent Genetics, Inc. FLGT
We are a technology-based company with a well-established laboratory services business and a therapeutic development business. Our laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Our therapeutic development business is focused on developing product 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, or PK profile, of new and existing cancer drugs.
Founded in 2011, Fulgent began with two simple ideas: flexibility and affordability. We offer and develop flexible and affordable diagnostic and genetic tests and laboratory services designed to improve patient care and quality of life. We strive to provide the most effective and wide-ranging genetic and diagnostic testing menu on the market. Our long-term vision is to transform from a diagnostic business into a fully integrated precision medicine company.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $322.7M | $283.5M | $289.2M | $619.0M | $992.6M | $421.7M | $32.5M | $21.4M | $18.7M | $18.3M |
| Cost of revenue | $191.8M | $176.3M | $184.8M | $252.1M | $215.5M | $89.8M | $14.1M | $10.7M | $8.6M | $6.7M |
| Gross profit | $130.9M | $107.2M | $104.5M | $366.9M | $777.1M | $331.9M | $18.4M | $10.7M | $10.2M | $11.6M |
| R&D | $53.9M | $48.8M | $41.4M | $28.9M | $24.2M | $11.6M | $6.5M | $5.5M | $4.2M | $3.6M |
| SG&A | $116.7M | $88.1M | $89.0M | $111.1M | $50.7M | $15.2M | $6.4M | $5.5M | $5.2M | $4.6M |
| Total operating expenses | $222.0M | $181.1M | $300.0M | $188.4M | $101.1M | $41.7M | $18.8M | $15.7M | $13.7M | $10.6M |
| Operating income | -$91.1M | -$73.9M | -$195.5M | $178.5M | $676.0M | $290.2M | -$428.0K | -$5.1M | -$3.5M | $918.0K |
| Interest expense | $75.0K | $170.0K | $488.0K | $1.0M | $117.0K | $20.0K | — | — | — | — |
| Pre-tax income | -$70.0M | -$52.0M | -$174.1M | $184.0M | $677.3M | $291.7M | $409.0K | -$4.6M | -$3.0M | -$4.5M |
| Income tax | $8.4M | $8.1M | $1.2M | $42.1M | $174.8M | $72.5M | $43.0K | $36.0K | $1.0M | $920.0K |
| Net income | -$60.5M | -$42.7M | -$167.8M | $143.4M | $507.4M | $214.3M | -$411.0K | -$5.6M | -$2.5M | -$5.3M |
| Shares, diluted (wtd. avg.) | 30.8M | 30.2M | 29.8M | 31.0M | 31.0M | 24.1M | 18.7M | 18.0M | 17.7M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $50.2M | $55.1M | $97.5M | $79.5M | $164.9M | $87.4M | $12.0M | $6.7M | $6.5M | $7.9M |
| Short-term investments | $285.9M | $203.0M | — | — | — | $211.9M | $16.3M | $24.3M | $20.0M | — |
| Receivables | $84.8M | $69.0M | $51.1M | $52.7M | $138.9M | $183.9M | $6.6M | $5.9M | $4.0M | $4.4M |
| Total current assets | $550.5M | $353.6M | $507.8M | $627.9M | $612.0M | $523.6M | $37.1M | $39.5M | $32.9M | $26.1M |
| Property, plant and equipment | $112.5M | $105.5M | $83.5M | $81.4M | $62.3M | $40.2M | $6.0M | $6.4M | $7.3M | $6.2M |
| Goodwill | $25.1M | $22.1M | $22.1M | $143.0M | $50.9M | — | — | — | — | — |
| Other intangibles | $133.3M | $135.0M | $143.1M | $150.6M | $35.9M | — | — | — | — | — |
| Total assets | $1.21B | $1.22B | $1.24B | $1.39B | $1.28B | $700.5M | $88.8M | $53.9M | $57.2M | $58.0M |
| Accounts payable | $18.7M | $18.4M | $15.4M | $23.1M | $20.5M | $26.5M | $1.6M | $1.3M | $2.1M | $2.8M |
| Total current liabilities | $85.0M | $72.9M | $73.0M | $88.1M | $105.3M | $130.1M | $3.7M | $2.7M | $3.0M | $3.3M |
| Total liabilities | $106.8M | $90.8M | $102.0M | $116.2M | $112.8M | $131.1M | $6.0M | $2.8M | $3.0M | $3.6M |
| Retained earnings | $530.0M | $590.5M | $633.2M | $801.0M | $657.6M | $150.9M | -$63.4M | -$63.0M | -$57.7M | -$55.2M |
| Total equity | $1.11B | $1.13B | $1.13B | $1.27B | $1.17B | $569.4M | $82.8M | $51.2M | $54.2M | $54.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$101.6M | $21.1M | $27.0M | $253.5M | $538.6M | $140.6M | $5.5M | -$675.0K | $1.3M | $4.4M |
| Depreciation and amortisation | $24.1M | $24.9M | $26.1M | $32.7M | $11.0M | $3.0M | $2.1M | $2.2M | $1.7M | — |
| Stock-based compensation | $39.6M | $44.5M | $42.9M | $32.6M | $15.9M | $8.2M | $3.2M | $2.3M | $2.1M | $4.7M |
| Capital expenditure | $22.6M | $40.3M | $22.2M | $18.8M | $23.8M | $35.1M | $1.2M | $2.3M | $2.9M | $3.8M |
| Investing cash flow | $111.4M | -$58.4M | $38.9M | -$261.3M | -$546.5M | -$326.4M | -$29.0M | $950.0K | -$2.0M | -$42.8M |
| Financing cash flow | -$14.8M | -$4.8M | -$47.8M | -$77.1M | $85.4M | $261.3M | $28.8M | $15.0K | -$770.0K | $45.8M |
| Buybacks | $10.9M | $225.0K | $25.1M | $74.3M | — | $62.0K | $21.0K | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001193125-26-079169.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $18.3M | $18.7M | $21.4M | $32.5M | $421.7M | $992.6M | $619.0M | $289.2M | $283.5M | $322.7M |
| Gross profit | $11.6M | $10.2M | $10.7M | $18.4M | $331.9M | $777.1M | $366.9M | $104.5M | $107.2M | $130.9M |
| Net income | -$5.3M | -$2.5M | -$5.6M | -$411.0K | $214.3M | $507.4M | $143.4M | -$167.8M | -$42.7M | -$60.5M |
Recent filings and events
- Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
- Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Other event Item 8.01
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Results announced Item 2.02
- Regulation FD disclosure Item 7.01
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Acquisition or disposal completed A purchase or sale of a significant business or asset has closed. Item 2.01
- Regulation FD disclosure Item 7.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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