Strong Revenue Growth
Core revenue reached $81.7 million, up 16% year-over-year and 11% sequentially, driven by growth in Precision Diagnostics (7%), Biopharma Services (54%), and Anatomic Pathology (11%).
Positive Updates in Clinical Trials
FID-007 is progressing well in Phase II trials, with 32 patients enrolled. Patient enrollment is expected to complete by the end of 2025. FID-022's Phase I trial has also begun with the first patient cohort enrolled.
New Product Launches and CE Mark Certification
Launched a new whole genome sequencing service with advanced features. Received CE Mark for Fulgent exome and Fulgent Pipeline Manager, facilitating expansion into European markets.
Managed Care Expansion
Since January, over 20 new agreements were executed, adding over 35 million new covered lives to in-network contracts.
Improved Financial Guidance
Increased annual revenue guidance for 2025 from $310 million to $320 million, representing a 14% year-over-year growth. Expected improvements in non-GAAP EPS and operating margins.