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Fulgent Genetics Inc (FLGT)
NASDAQ:FLGT
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Fulgent Genetics
(NASDAQ:FLGT)
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Rating:63Neutral
Price Target:
$23.00
▲(1.81% Upside)
Fulgent Genetics' overall stock score is driven by strong technical indicators and positive earnings call highlights, such as revenue growth and product expansion. However, financial performance challenges, particularly in profitability and cash flow, and a negative valuation score due to losses, weigh down the overall score.
Fulgent Genetics (FLGT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$691.46M
Dividend YieldN/A
Average Volume (3M)222.25K
Price to Earnings (P/E)―
Beta (1Y)0.54
Revenue Growth4.31%
EPS Growth69.57%
CountryUS
Employees1,313
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)0.07
Shares Outstanding30,609,043
10 Day Avg. Volume258,213
30 Day Avg. Volume222,252
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.46
Enterprise Value/Revenue1.05
Enterprise Value/Gross Profit2.61
Enterprise Value/Ebitda-7.25
Forecast
1Y Price Target
$24.75Price Target Upside9.56% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering4
Fulgent Genetics Business Overview & Revenue Model
Company DescriptionFulgent Genetics, Inc., together with its subsidiaries, provides COVID-19, molecular diagnostic, and genetic testing services to physicians and patients in the United States and internationally. The company offers genetic tests comprising Focus and Comprehensive oncology panels tests; Beacon carrier screening panels test for inherited conditions; solid tumor molecular profiling for somatic cancer testing; rapid whole genome testing for children in NICU and PICU; newborn genetic analysis panel; single front-line test to detect ataxia-related variants and repeat expansions through sequencing; picture genetics, a patient-initiated genetic testing; whole exome and clinical exome panel tests; whole genome, mutation, and repeat expansion testing services, as well as research service tests. It also provides next generation sequencing and reverse transcription polymerase chain reaction-based tests, as well as antigen-based diagnostic tests for the detection of SARS-CoV-2. In addition, the company offers flow cytometry, a cell analysis technique providing diagnosis, prognosis, and monitoring of malignancies; fluorescence in-situ hybridization for detecting and locating a specific DNA sequence on a chromosome; immunohistochemistry, an imaging technique used to visualize antigens in cells; cytogenetics, which analyzes the chromosome set for numerical and structural abnormalities; and molecular testing that includes hematopoietic and solid tumor molecular assays. The company serves insurance, hospitals, medical institutions, other laboratories, governmental bodies, payors, municipalities and large corporations, and patients. Fulgent Genetics has strategic partnership with Helio Health, Inc. to commercialize blood-based early cancer detection tests. The company was formerly known as Fulgent Diagnostics, Inc. and changed its name to Fulgent Genetics, Inc. in August 2016. Fulgent Genetics, Inc. was founded in 2011 and is headquartered in Temple City, California.
How the Company Makes MoneyFulgent Genetics generates revenue primarily through its genetic testing services. The company's revenue model is based on the fees charged for its diagnostic tests, which include both routine and custom genomic tests. Key revenue streams include individual tests for hereditary cancer, infectious diseases, and other genetic conditions, as well as partnerships with healthcare institutions and laboratories that utilize Fulgent's testing capabilities. Additionally, Fulgent has established collaborations with pharmaceutical companies and research institutions, which contribute to its earnings by providing specialized testing services and insights for clinical trials and drug development. The company's ability to innovate and adapt its testing offerings to meet the evolving needs of the healthcare market also plays a significant role in sustaining its revenue growth.
Fulgent Genetics Earnings Call Summary
Earnings Call Date:Aug 01, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted strong revenue growth and product expansions, including a significant increase in core revenue and successful market expansions. However, increased operating expenses and sustained losses, alongside anticipated seasonal slowdowns, present challenges. Overall, the positive aspects slightly outweigh the negatives.Q2-2025 Updates
Positive Updates
Strong Revenue Growth
Core revenue reached $81.7 million, representing a 16% year-over-year increase and an 11% sequential increase. Precision Diagnostics was up 7%, Biopharma Services surged by 54%, and Anatomic Pathology increased by 11%.
Product and Market Expansion
Launched a new whole genome sequencing service with enhanced features. Received CE Mark for Fulgent exome and Fulgent Pipeline Manager, expanding availability in Europe. Executed over 20 new managed care agreements, adding 35 million new covered lives.
Improved Financial Outlook
Increased annual revenue guidance for 2025 from $310 million to $320 million, representing a 14% year-over-year growth.
Therapeutic Development Progress
FID-007 progressing through Phase II clinical trial with 32 patients enrolled. FID-022 Phase I trial underway, with promising potential for treating various cancers.
Negative Updates
Operating Expenses and Losses
Non-GAAP operating expenses increased to $43.9 million, and GAAP loss was $19 million due to a $9.9 million impairment charge. Adjusted EBITDA loss was approximately $3 million.
Non-GAAP Operating Margin
Non-GAAP operating margin remained negative at minus 9.4%, despite improvements.
Anatomic Pathology Seasonality
Anticipated seasonality in Anatomic Pathology could lead to reduced revenues in the latter half of the year, especially in dermatological procedures.
Company Guidance
During the Fulgent Genetics Q2 2025 Conference Call, the company provided updated guidance and insights into its financial performance and strategic initiatives. The company reported $81.8 million in total revenue for Q2 2025, with core revenue (excluding COVID-19 testing) at $81.7 million, reflecting a 16% year-over-year increase. Gross margin on a non-GAAP basis was 44.2%, while GAAP gross margin was 42.1%. Operating expenses on a non-GAAP basis were $43.9 million, with GAAP operating expenses at $54.1 million. A GAAP loss of $19 million was recorded, impacted by a $9.9 million non-cash impairment charge. The company raised its full-year revenue guidance for 2025 to $320 million, representing a 14% year-over-year growth. Non-GAAP EPS guidance improved from a loss of $0.65 to $0.35 per share. The company also highlighted the progress in its therapeutic pipeline, with FID-007 in Phase II trials, expected to cost $30 million, and FID-022 entering Phase I trials, expected to cost $8 million. The company emphasized its strong cash position, ending the quarter with $777.5 million in cash and marketable securities.Fulgent Genetics Financial Statement Overview
Summary
Fulgent Genetics is facing financial challenges with declining profitability and cash flow issues, despite a strong balance sheet with low leverage. The company needs to address operational inefficiencies and improve revenue generation to stabilize its financial performance.Income Statement
Fulgent Genetics has faced declining revenues and profitability in recent years. The TTM data indicates a negative EBIT and net profit margin, reflecting operational challenges. Despite a slight revenue growth in the TTM period compared to 2024, the company struggles to maintain profitability with gross and net profit margins significantly reduced from previous years.45
Neutral
Balance Sheet
The company maintains a strong equity position with a high equity ratio and low leverage, as indicated by a minimal debt-to-equity ratio. However, the return on equity has turned negative in recent periods, highlighting profitability issues. The overall financial stability remains robust due to substantial stockholders' equity and low debt.65
Positive
Cash Flow
The cash flow statement shows a deterioration in free cash flow and operating cash flow in the TTM period, resulting in negative free cash flow growth. Operating cash flow to net income ratio is unfavorable due to negative net income. The company needs to improve cash flow generation to support operations and potential growth.50
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 303.22M | 283.47M | 289.21M | 618.97M | 992.58M | 421.71M |
| Gross Profit | 121.40M | 107.22M | 104.46M | 366.90M | 777.05M | 331.90M |
| EBITDA | -43.78M | -48.99M | -46.55M | 221.59M | 686.96M | 293.12M |
| Net Income | -51.02M | -42.71M | -167.82M | 143.40M | 507.36M | 214.31M |
Balance Sheet | ||||||
| Total Assets | 1.20B | 1.22B | 1.24B | 1.39B | 1.28B | 700.46M |
| Cash, Cash Equivalents and Short-Term Investments | 292.93M | 258.11M | 424.15M | 852.88M | 935.55M | 431.87M |
| Total Debt | 7.39M | 9.23M | 15.25M | 20.64M | 21.28M | 15.85M |
| Total Liabilities | 88.20M | 90.81M | 102.04M | 116.18M | 112.84M | 131.07M |
| Stockholders Equity | 1.12B | 1.13B | 1.14B | 1.27B | 1.17B | 569.39M |
Cash Flow | ||||||
| Free Cash Flow | -59.95M | -19.25M | 4.80M | 234.75M | 514.73M | 104.12M |
| Operating Cash Flow | -25.09M | 21.06M | 27.00M | 253.52M | 538.58M | 140.63M |
| Investing Cash Flow | 62.66M | -58.35M | 38.90M | -261.31M | -546.55M | -326.44M |
| Financing Cash Flow | -14.70M | -4.85M | -47.78M | -77.14M | 85.39M | 261.25M |
Fulgent Genetics Technical Analysis
Positive
22.59
Price Trends
20.85
Positive
20.46
Positive
19.05
Positive
Market Momentum
0.31
Positive
61.83
Neutral
65.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLGT, the sentiment is Positive. The current price of 22.59 is above the 20-day moving average (MA) of 22.13, above the 50-day MA of 20.85, and above the 200-day MA of 19.05, indicating a bullish trend. The MACD of 0.31 indicates Positive momentum. The RSI at 61.83 is Neutral, neither overbought nor oversold. The STOCH value of 65.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FLGT.
Fulgent Genetics Risk Analysis
Fulgent Genetics disclosed 80 risk factors in its most recent earnings report. Fulgent Genetics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Fulgent Genetics Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $691.46M | ― | -4.54% | ― | 4.31% | 69.57% | |
59 Neutral | $658.78M | -63.85 | -2.08% | ― | 20.40% | -165.41% | |
59 Neutral | $1.80B | -3.86 | -80.97% | ― | 22.37% | 86.08% | |
52 Neutral | $716.44M | -1.80 | -101.83% | ― | 3.83% | -137.31% | |
52 Neutral | $535.61M | -4.75 | -47.85% | ― | 0.36% | 22.13% | |
48 Neutral | $496.59M | -4.06 | -28.38% | ― | 13.17% | 64.50% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% |
* Healthcare Sector Average
Performance Comparison
FLGT
Fulgent Genetics
22.59
0.86
3.96%
LAB
Standard BioTools
1.30
-0.63
-32.64%
MYGN
Myriad Genetics
7.70
-19.69
-71.89%
CDNA
CareDx
14.93
-16.29
-52.18%
PSNL
Personalis
6.04
0.66
12.27%
CSTL
Castle Biosciences
22.71
-5.81
-20.37%
Fulgent Genetics Corporate Events
Business Operations and StrategyFinancial Disclosures
Fulgent Genetics Reports Q2 2025 Financial Results
Neutral
Aug 1, 2025
On August 1, 2025, Fulgent Genetics announced its financial results for the second quarter of 2025, reporting a 16% year-over-year growth in core revenue to $81.7 million. Despite a GAAP loss of $19.0 million, the company raised its full-year core revenue guidance to $320 million, reflecting strong momentum and strategic progress in its laboratory services and therapeutic development businesses.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.