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Fulgent Genetics Inc (FLGT)
NASDAQ:FLGT
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Fulgent Genetics
(NASDAQ:FLGT)
59Neutral
Fulgent Genetics (FLGT) vs. S&P 500 (SPY)
Market Cap
$619.53M
Dividend YieldN/A
Average Volume (3M)396.18K
Price to Earnings (P/E)―
Beta (1Y)0.55
Revenue Growth1.71%
EPS Growth76.00%
CountryUS
Employees1,313
SectorHealthcare
Sector Strength41
IndustryMedical - Diagnostics & Research
Share Statistics
EPS (TTM)0.04
Shares Outstanding30,443,596
10 Day Avg. Volume383,697
30 Day Avg. Volume396,182
Financial Highlights & Ratios
PEG Ratio-2.63
Price to Book (P/B)0.54
Price to Sales (P/S)0.00
P/FCF Ratio-18.97
Enterprise Value/Market Cap0.87
Enterprise Value/Revenue0.47
Enterprise Value/Gross Profit4.85
Enterprise Value/Ebitda-2.60
Forecast
1Y Price Target
$22.67Price Target Upside6.83% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
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 offers a diverse array of tests that cater to multiple segments, including oncology, reproductive health, infectious diseases, and rare genetic conditions. Revenue is driven by the volume of tests processed and the complexity of the testing services provided. Fulgent Genetics collaborates with healthcare providers, insurance companies, and research institutions to expand its customer base and increase test adoption. Significant partnerships with hospitals and research organizations also contribute to revenue growth, as they help the company reach a broader audience and secure large-scale testing contracts. Furthermore, Fulgent's emphasis on innovation and technology investment aids in maintaining competitive pricing and operational efficiency, which supports its profitability.
Fulgent Genetics Financial Statement Overview
Summary
Fulgent Genetics faces revenue and profitability challenges with declining trends since 2021. While the balance sheet is strong with high equity and low leverage, cash flow issues persist, impacting financial flexibility.Income Statement
Fulgent Genetics has experienced a declining revenue trend from 2021 to TTM (Trailing-Twelve-Months) 2025. Gross profit margin is decreasing, and both EBIT and EBITDA margins are negative, indicating operational challenges. The company is operating at a net loss, with no clear signs of profitability in the short term.45
Neutral
Balance Sheet
The balance sheet showcases strong equity levels with an equity ratio above 90%, indicating financial stability. The company maintains low debt levels, resulting in a favorable debt-to-equity ratio. However, the return on equity is negative due to net losses, which diminishes the attractiveness of the equity.70
Positive
Cash Flow
Cash flow from operations has decreased significantly from prior years, affecting financial flexibility. The free cash flow is negative, indicating cash outflows from capital expenditures exceed operating cash inflows. The operating cash flow to net income ratio reveals operational challenges, though cash reserves remain strong.55
Neutral
| Breakdown | |||||
| TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|
| Income Statement | Total Revenue | ||||
| 292.45M | 283.47M | 289.21M | 618.97M | 992.58M | 421.71M | Gross Profit |
| 111.47M | 107.22M | 104.46M | 366.90M | 777.05M | 331.90M | EBIT |
| -64.02M | -73.92M | -72.69M | 178.53M | 675.95M | 290.16M | EBITDA |
| -47.19M | -48.99M | -46.55M | 221.59M | 675.95M | 290.16M | Net Income Common Stockholders |
| -40.78M | -42.71M | -167.82M | 143.40M | 507.36M | 214.31M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||||
| 320.32M | 258.11M | 424.15M | 852.88M | 935.55M | 431.87M | Total Assets |
| 1.21B | 1.22B | 1.24B | 1.39B | 1.28B | 700.46M | Total Debt |
| 7.66M | 8.47M | 15.25M | 20.64M | 21.28M | 15.85M | Net Debt |
| -59.62M | -46.68M | -82.22M | -58.87M | -143.61M | -71.57M | Total Liabilities |
| 82.97M | 90.81M | 102.04M | 116.18M | 112.84M | 131.07M | Stockholders Equity |
| 1.13B | 1.13B | 1.14B | 1.27B | 1.17B | 569.39M |
| Cash Flow | Free Cash Flow | ||||
| -31.61M | -19.25M | 4.80M | 234.75M | 514.73M | 104.12M | Operating Cash Flow |
| 9.36M | 21.06M | 27.00M | 253.52M | 538.58M | 140.63M | Investing Cash Flow |
| 16.56M | -58.35M | 38.90M | -261.31M | -546.55M | -326.44M | Financing Cash Flow |
| -13.21M | -4.85M | -47.78M | -77.14M | 85.39M | 261.25M |
Fulgent Genetics Technical Analysis
Positive
21.22
Price Trends
18.12
Positive
17.66
Positive
19.30
Positive
Market Momentum
0.69
Negative
65.03
Neutral
87.66
Negative
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 21.22 is above the 20-day moving average (MA) of 19.20, above the 50-day MA of 18.12, and above the 200-day MA of 19.30, indicating a bullish trend. The MACD of 0.69 indicates Negative momentum. The RSI at 65.03 is Neutral, neither overbought nor oversold. The STOCH value of 87.66 is Negative, 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 (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $1.44B | ― | -62.22% | ― | 30.47% | -26.63% | |
65 Neutral | $473.51M | 30.59 | -1.20% | ― | 38.43% | 86.19% | |
59 Neutral | $619.53M | ― | -3.61% | ― | 1.71% | 76.00% | |
57 Neutral | $437.21M | ― | -51.25% | ― | 15.57% | 31.82% | |
52 Neutral | $5.19B | 3.04 | -44.64% | 2.82% | 16.45% | -0.53% | |
51 Neutral | $380.69M | ― | -13.84% | ― | 12.15% | 61.33% | |
50 Neutral | $410.21M | ― | -25.73% | ― | 33.86% | 64.34% |
* Healthcare Sector Average
Performance Comparison
FLGT
Fulgent Genetics
21.22
-0.52
-2.39%
LAB
Standard BioTools
1.05
-1.53
-59.30%
MYGN
Myriad Genetics
4.43
-20.58
-82.29%
PSNL
Personalis
5.02
3.56
243.84%
CSTL
Castle Biosciences
16.40
-8.54
-34.24%
GRAL
GRAIL Inc
38.23
23.93
167.34%
Fulgent Genetics Earnings Call Summary
Earnings Call Date:May 02, 2025
(Q1-2025)
| % Change Since: 23.01%|
Next Earnings Date:Aug 01, 2025
Earnings Call Sentiment Neutral
The earnings call presented a mix of positive developments and challenges. The company reported significant year-over-year growth in key segments and successful new initiatives, positioning itself well in digital pathology. However, sequential declines in some areas, operating margin issues, and a projected cash burn for therapeutic development were notable concerns. Despite these challenges, the company remains financially stable and confident in its strategic outlook.Q1-2025 Updates
Positive Updates
Increase in Laboratory Services Revenue
Fulgent Genetics reported year-over-year growth in laboratory services with precision diagnostics up by $6.7 million or 17.8%, anatomic pathology up by $2.2 million or 9.5%, and biopharma services up by $1.4 million or 51.3%.
Successful New Initiatives
Progress in new initiatives such as hereditary cancer testing with the VA and a partnership with Foundation Medicine, showing promising results and potential upside for the year.
Digital Pathology Advancements
Investments in digital pathology resulted in over 85% of slides being digitized and over $1 million in digital billing for Q1, positioning the company ahead in this area.
Strong Financial Position
Company ended the first quarter with $114.6 million in cash and reiterated its 2025 outlook, expecting a 10% year-over-year growth in core revenue.
Repurchase Program Success
Stock repurchase program continued with approximately 646,000 shares repurchased at an aggregated cost of $10.9 million.
Negative Updates
Sequential Decline in Anatomic Pathology and Biopharma
Anatomic pathology was down approximately 3.9% sequentially, and biopharma was down 33.7% sequentially due to the nature of the business and timing of contracts.
Operating Margin Challenges
Non-GAAP operating margin decreased by approximately five percentage points sequentially to minus 10% due to lower revenue and gross margin.
Adjusted EBITDA Loss
Reported an adjusted EBITDA loss for the first quarter of approximately $2.9 million, though an improvement compared to a loss of $3.2 million in Q1 2024.
Potential Cash Burn
Anticipated cash burn for therapeutics development business of approximately $25 million for the year, impacting EPS and cash guidance.
Company Guidance
During the Fulgent Genetics Q1 2025 conference call, management provided financial guidance and performance metrics for the year. The company reported a total revenue of $73.5 million, with core business revenue matching this figure as COVID-19 testing revenue was negligible. Non-GAAP gross margin stood at 41%, reflecting improved efficiencies. The guidance for 2025 remains unchanged, projecting core revenue of approximately $310 million, a 10% year-over-year growth. Non-GAAP gross margins are expected to slightly exceed 40% for the full year, while non-GAAP operating margins are anticipated to be approximately minus 15%. The company also expects a non-GAAP net loss of 65¢ per share, with an associated cash burn for the therapeutics development business of $25 million. The year-end cash position is projected to be around $770 million, after accounting for stock repurchases totaling $10.9 million year-to-date.Fulgent Genetics Corporate Events
Shareholder MeetingsBusiness Operations and Strategy
Fulgent Genetics Holds Annual Stockholders Meeting
Neutral
May 15, 2025
On May 15, 2025, Fulgent Genetics held its Annual Meeting of Stockholders, where approximately 82% of eligible shares were represented. Key decisions included the election of directors, ratification of Deloitte & Touche LLP as the independent auditor, and approval of executive compensation, reflecting the company’s ongoing governance and operational strategies.
The most recent analyst rating on (FLGT) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Fulgent Genetics stock, see the FLGT Stock Forecast page.
Spark’s Take on FLGT Stock
According to Spark, TipRanks’ AI Analyst, FLGT is a Neutral.
Fulgent Genetics scores moderately due to financial challenges and valuation concerns, despite a robust balance sheet and positive momentum in certain technical indicators. The earnings call provided optimism with strong growth figures and strategic initiatives, but operational inefficiencies and cash flow issues need addressing for a more favorable outlook.
To see Spark’s full report on FLGT stock, click here.
Stock BuybackFinancial Disclosures
Fulgent Genetics Reports Strong Q1 2025 Financial Results
Positive
May 2, 2025
On May 2, 2025, Fulgent Genetics reported its financial results for the first quarter of 2025, highlighting a 16% year-over-year growth in core revenue, amounting to $73.5 million. Despite a GAAP loss of $11.5 million, the company achieved a non-GAAP income of $1.2 million. Fulgent reiterated its full-year 2025 core revenue guidance of $310 million and ended the quarter with $814.6 million in cash and investments. The company repurchased approximately 516,000 shares at a cost of $8.7 million. CEO Ming Hsieh expressed satisfaction with the results and the momentum in 2025, while CFO Paul Kim noted the strong start to the year with growth across all core business areas.
Spark’s Take on FLGT Stock
According to Spark, TipRanks’ AI Analyst, FLGT is a Neutral.
Fulgent Genetics scores moderately due to financial challenges marked by declining revenues and profitability, which impact liquidity. While the balance sheet is strong, the valuation remains unattractive with a negative P/E ratio. Technical analysis shows limited momentum. However, the earnings call provided some optimism with strong revenue growth and promising strategic partnerships.
To see Spark’s full report on FLGT stock, click here.
Business Operations and StrategyFinancial Disclosures
Fulgent Genetics Reports 2024 Financial Results and 2025 Outlook
Neutral
Feb 28, 2025
On February 28, 2025, Fulgent Genetics announced its financial results for the fourth quarter and full year of 2024. The company reported a total revenue of $283.5 million for the year, with core revenue growing by 7% year-over-year. Despite a GAAP loss of $42.7 million, Fulgent achieved a non-GAAP income of $15.0 million. The company ended the year with $828.6 million in cash and investments, and its laboratory services exhibited strong growth. Looking ahead, Fulgent projects core revenue of approximately $310 million for 2025, while continuing to advance its clinical pipeline in therapeutic development.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
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.