Fulgent Genetics (FLGT)
NASDAQ:FLGT
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Fulgent Genetics
(NASDAQ:FLGT)
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Rating:52Neutral
Price Target:
$15.50
▼(-32.46% Downside)
Action:ReiteratedDate:05/05/26
The score is held back primarily by weak current financial performance (losses and significant cash burn) and bearish technical trends (below major moving averages, negative MACD). Offsetting factors include a very strong, low-debt balance sheet and management’s reiterated FY2026 growth outlook with expected H2 uplift from acquisitions, but profitability and cash-flow recovery remain key execution risks.
Positive Factors
Strong balance sheet / low leverage
Very low debt relative to equity gives Fulgent durable financial flexibility to fund operations, acquisitions, R&D and buybacks while absorbing operating losses. This cushion reduces refinancing and solvency risk over the next several quarters and supports strategic optionality.
Negative Factors
Sustained cash burn
Material negative operating and free cash flow signal ongoing cash consumption despite a strong headline cash balance. Persistent cash burn pressures liquidity over multiple quarters, forcing reliance on cash reserves and potentially constraining investments if revenue recovery stalls.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet / low leverage
Very low debt relative to equity gives Fulgent durable financial flexibility to fund operations, acquisitions, R&D and buybacks while absorbing operating losses. This cushion reduces refinancing and solvency risk over the next several quarters and supports strategic optionality.
Read all positive factors
Fulgent Genetics (FLGT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$423.74M
Dividend YieldN/A
Average Volume (3M)630.62K
Price to Earnings (P/E)―
Beta (1Y)0.39
Revenue Growth9.54%
EPS Growth-79.16%
CountryUS
Employees1,313
SectorHealthcare
Sector Strength45
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)-2.38
Shares Outstanding28,400,623
10 Day Avg. Volume458,816
30 Day Avg. Volume630,623
Financial Highlights & Ratios
PEG Ratio-0.34
Price to Book (P/B)0.73
Price to Sales (P/S)2.51
P/FCF Ratio-6.51
Enterprise Value/Market Cap1.03
Enterprise Value/Revenue1.36
Enterprise Value/Gross Profit3.58
Enterprise Value/Ebitda-6.49
Forecast
1Y Price Target
$18.50Price Target Upside-19.39% Downside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)-1.36
Revenue Forecast (FY)$349.46M
Fulgent Genetics Business Overview & Revenue Model
Company Description
Fulgent 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 an...
How the Company Makes Money
Fulgent Genetics makes money primarily by performing laboratory tests and delivering diagnostic results for paying customers. Its core revenue stream is test service revenue: healthcare providers, hospitals, health systems, and other institutional...
Fulgent Genetics Earnings Call Summary
Earnings Call Date:May 01, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Jul 31, 2026
Earnings Call Sentiment Neutral
The call presented a mixed picture: operational headwinds in Q1 (revenue declines, margin pressure, an ongoing transition of a large customer and short-term cash outflows for acquisition and buybacks) were balanced by strategic positives (completed acquisitions that expand pathology capacity and salesforce, strong cash balance, reiterated full-year revenue guidance, notable progress in the therapeutic pipeline with ASCO recognition, AI/product innovations and regulatory/pricing wins for PGx tests). Management expects normalization of margins and revenue growth in H2 driven by acquisition contribution and backlog clearance, but near-term volatility and losses remain evident.Positive Updates
Strategic Acquisitions Completed
Completed acquisition of Bako Diagnostics and StrataDx in Q1 2026, adding $2.6M of revenue in the quarter, more than doubling the pathology sales team, expanding Anatomic Pathology market presence, and expected to contribute ~ $53M to revenue in H2 2026.
Negative Updates
Quarterly Revenue Decline
Q1 2026 revenue was $71.1M, down 3.2% year-over-year and down 14.6% sequentially versus Q4 2025; decline driven primarily by lower volume from the company's largest customer (customer volumes decreased ~$6M QoQ).
Read all updates
Q1-2026 Updates
Positive
Negative
Strategic Acquisitions Completed
Completed acquisition of Bako Diagnostics and StrataDx in Q1 2026, adding $2.6M of revenue in the quarter, more than doubling the pathology sales team, expanding Anatomic Pathology market presence, and expected to contribute ~ $53M to revenue in H2 2026.
Read all positive updates
Company Guidance
Management reiterated full‑year 2026 revenue guidance of $350 million (≈8.5% year‑over‑year growth) with segment targets of roughly $168M for Precision Diagnostics, $162M for Anatomic Pathology and $20M for Biopharma Services, and said no single customer is expected to account for more than 10% of revenue; they estimate the Bako/StrataDx acquisition will contribute about $53M in the second half and expect quarterly revenues in excess of $90M in Q2–Q4. On margins and EPS, management expects full‑year non‑GAAP gross margin of ~39% (improving to ~42% by year‑end), a non‑GAAP operating margin of about -20%, and a full‑year non‑GAAP EPS loss of $1.59 based on an updated average diluted share count of ~29 million (down from ~32M, a $0.14 EPS effect). On cash and spend, they forecast ending cash of approximately $636M assuming $12M capex, ~$26M therapeutic R&D spend, $14.5M professional liability expense and receipt of a ~$106M tax refund; year‑to‑date share repurchases totaled ~3.1M shares (~$49M), leaving roughly $91M available under the buyback authorization.Fulgent Genetics Financial Statement Overview
Summary
Income Statement
26
Negative
Balance Sheet
78
Positive
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 320.35M | 322.67M | 283.47M | 289.21M | 618.97M | 992.58M |
| Gross Profit | 121.99M | 130.88M | 107.22M | 104.46M | 366.90M | 777.05M |
| EBITDA | -67.17M | -45.83M | -48.99M | -147.45M | 217.70M | 686.96M |
| Net Income | -73.81M | -60.51M | -42.71M | -167.82M | 143.40M | 507.36M |
Balance Sheet | ||||||
| Total Assets | 1.16B | 1.21B | 1.22B | 1.24B | 1.39B | 1.28B |
| Cash, Cash Equivalents and Short-Term Investments | 276.30M | 336.08M | 258.11M | 424.15M | 526.24M | 450.50M |
| Total Debt | 10.17M | 7.68M | 8.47M | 15.25M | 38.94M | 21.28M |
| Total Liabilities | 112.22M | 106.81M | 90.81M | 102.04M | 116.18M | 112.84M |
| Stockholders Equity | 1.05B | 1.11B | 1.13B | 1.14B | 1.27B | 1.16B |
Cash Flow | ||||||
| Free Cash Flow | -113.17M | -124.21M | -19.25M | 4.80M | 234.75M | 514.73M |
| Operating Cash Flow | -90.11M | -101.64M | 21.06M | 27.00M | 253.52M | 538.58M |
| Investing Cash Flow | 94.58M | 111.37M | -58.35M | 38.90M | -261.31M | -546.55M |
| Financing Cash Flow | -48.45M | -14.79M | -4.85M | -47.78M | -77.14M | 85.41M |
Fulgent Genetics Technical Analysis
Neutral
22.95
Price Trends
17.80
Negative
22.69
Negative
22.36
Negative
Market Momentum
-0.44
Negative
48.85
Neutral
76.44
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FLGT, the sentiment is Neutral. The current price of 22.95 is above the 20-day moving average (MA) of 15.95, above the 50-day MA of 17.80, and above the 200-day MA of 22.36, indicating a neutral trend. The MACD of -0.44 indicates Negative momentum. The RSI at 48.85 is Neutral, neither overbought nor oversold. The STOCH value of 76.44 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for FLGT.
Fulgent Genetics Risk Analysis
Fulgent Genetics disclosed 81 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
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
71 Outperform | $1.08B | 79.03 | -2.61% | ― | 19.17% | -111.99% | |
67 Neutral | $749.83M | -12.63 | -5.27% | ― | 3.66% | -229.24% | |
52 Neutral | $423.74M | -4.94 | -6.71% | ― | 9.54% | -79.16% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $378.07M | 0.70 | 17.29% | ― | -49.17% | ― | |
49 Neutral | $635.39M | -7.71 | -39.13% | ― | -17.69% | 33.47% | |
48 Neutral | $384.32M | -3.09 | -109.09% | ― | -0.28% | -286.80% |
* Healthcare Sector Average
FLGT
Fulgent Genetics
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Fulgent Genetics Corporate Events
Business Operations and StrategyStock BuybackFinancial Disclosures
Fulgent Genetics Posts Q1 Loss, Reaffirms 2026 Outlook
Negative
May 1, 2026
On May 1, 2026, Fulgent Genetics reported first-quarter 2026 results, posting revenue of $71.1 million, a GAAP net loss of $24.8 million, and a non-GAAP net loss of $11.0 million, while ending the period with $604.7 million in cash and investments...
Business Operations and StrategyM&A Transactions
Fulgent Genetics Expands Dermatology Footprint With Key Acquisitions
Positive
Mar 17, 2026
On March 17, 2026, Fulgent Genetics completed the previously announced acquisitions of Bako Diagnostics and StrataDx, paying a combined cash consideration of about $56.9 million, subject to post-closing adjustments. Through a purchase and sale agr...
Business Operations and StrategyFinancial Disclosures
Fulgent Genetics Posts 2025 Results and 2026 Outlook
Positive
Feb 27, 2026
Fulgent Genetics reported fourth quarter and full-year 2025 results on February 27, 2026, with annual revenue rising 14% year-over-year to $322.7 million and fourth quarter revenue up 9% to $83.3 million. Despite GAAP losses of $23.4 million in th...
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.