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Fulgent Genetics, Inc. provides clinical diagnostic and therapeutic development solutions to physicians and patients in the United States and internationally. The company's clinical diagnostic solutions include molecular diagnostic testing; genetic testing; anatomic pathology laboratory tests and testing services, such as gastrointestinal pathology, dermatopathology, urologic pathology, breast pathology, neuropathology, and hematopathology; oncology tests and testing services; and sequencer services related to hereditary cancer, reproductive health, and other diseases. Its therapeutic development solutions focus on developing drug candidates for treating a range of cancers using a nanoencapsulation and targeted therapy platform to enhance the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The company operates picture genetics platform, which includes gene probes, data suppression and comparison algorithms, adaptive learning software, and proprietary laboratory information management systems that helps customers to identify health markers in their personal DNA. It serves insurance, hospitals, medical institutions, other laboratories, governmental bodies, payors, large corporations, and patients. Fulgent Genetics, Inc. was formerly known as Fulgent Diagnostics, Inc. and changed its name to Fulgent Genetics, Inc. in August 2016. The company was founded in 2011 and is headquartered in El Monte, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $323M | $-46M | $-61M | $-124M | -5.5% | 13.8% | - |
| 2024 | $283M | $-49M | $-43M | $-19M | -3.8% | -2.0% | - |
| 2023 | $289M | $-147M | $-168M | $5M | -14.8% | -53.3% | -217.0% |
| 2022 | $619M | $218M | $143M | $235M | 11.3% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 618.97 | 289.21 | 283.47 | 322.67 |
| Cost Of Revenue | 252.07 | 184.76 | 176.25 | 191.80 |
| Gross Profit | 366.90 | 104.46 | 107.22 | 130.88 |
| Operating Expense | 185.40 | 179.75 | 181.13 | 221.97 |
| Operating Income | 181.50 | -75.30 | -73.92 | -91.10 |
| EBITDA | 217.70 | -147.45 | -48.99 | -45.83 |
| EBIT | 185.04 | -173.60 | -73.92 | -69.95 |
| Pretax Income | 184.03 | -174.09 | -51.96 | -70.03 |
| Tax Provision | 42.10 | 1.15 | -8.14 | -8.39 |
| Net Income | 143.40 | -167.82 | -42.71 | -60.51 |
| Net Income Common Stockholders | 143.40 | -167.82 | -42.71 | -60.51 |
| Total Expenses | 437.47 | 364.51 | 357.39 | 413.77 |
| Interest Expense | 1.01 | 0.49 | 0 | 0.07 |
| Interest Income | 5.62 | 21.61 | 31.47 | 30.92 |
| Research And Development | 28.91 | 41.44 | 48.82 | 53.91 |
| Selling General And Administration | 149.99 | 130.47 | 124.35 | 160.03 |
| Normalized EBITDA | 220.68 | -27.22 | -38.92 | -35.90 |
| Normalized Income | 145.70 | -72.84 | -34.26 | -51.78 |
| Basic EPS | 4.76 | -5.63 | -1.41 | -1.97 |
| Diluted EPS | 4.63 | -5.63 | -1.41 | -1.97 |
| Tax Effect Of Unusual Items | -0.68 | -25.25 | -1.62 | -1.19 |
| Tax Rate For Calcs | 0.23 | 0.21 | 0.16 | 0.12 |
| Total Unusual Items | -2.98 | -120.23 | -10.07 | -9.93 |
| Total Unusual Items Excluding Goodwill | -2.98 | -120.23 | -10.07 | -9.93 |
| Net Income From Continuing Operation Net Minority Interest | 143.40 | -167.82 | -42.71 | -60.51 |
| Reconciled Depreciation | 32.66 | 26.14 | 24.93 | 24.12 |
| Reconciled Cost Of Revenue | 225.90 | 166.46 | 159.29 | 175.70 |
| Net Interest Income | 4.61 | 21.12 | 31.47 | 30.84 |
| Net Income From Continuing And Discontinued Operation | 143.40 | -167.82 | -42.71 | -60.51 |
| Total Operating Income As Reported | 178.53 | -195.53 | -73.92 | -91.10 |
| Diluted Average Shares | 30.96 | 29.78 | 30.23 | 30.78 |
| Basic Average Shares | 30.10 | 29.78 | 30.23 | 30.78 |
| Diluted NI Availto Com Stockholders | 143.40 | -167.82 | -42.71 | -60.51 |
| Minority Interests | 1.48 | 7.41 | 1.11 | 1.12 |
| Net Income Including Noncontrolling Interests | 141.92 | -175.24 | -43.82 | -61.63 |
| Net Income Continuous Operations | 141.92 | -175.24 | -43.82 | -61.63 |
| Earnings From Equity Interest Net Of Tax | 0 | 0 | 0 | 0 |
| Other Income Expense | -2.09 | -119.91 | -9.51 | -9.77 |
| Other Non Operating Income Expenses | 0.89 | 0.32 | 0.56 | 0.15 |
| Special Income Charges | -2.98 | -120.23 | -10.07 | -9.93 |
| Write Off | 0 | 0 | 10.07 | 9.93 |
| Impairment Of Capital Assets | 0 | 120.23 | 0 | 0 |
| Restructuring And Mergern Acquisition | 2.98 | 0 | 0 | 0 |
| Net Non Operating Interest Income Expense | 4.61 | 21.12 | 31.47 | 30.84 |
| Interest Expense Non Operating | 1.01 | 0.49 | 0 | 0.07 |
| Interest Income Non Operating | 5.62 | 21.61 | 31.47 | 30.92 |
| Depreciation Amortization Depletion Income Statement | 6.50 | 7.84 | 7.96 | 8.03 |
| Depreciation And Amortization In Income Statement | 6.50 | 7.84 | 7.96 | 8.03 |
| Amortization | 6.50 | 7.84 | 7.96 | 8.03 |
| Amortization Of Intangibles Income Statement | 6.50 | 7.84 | 7.96 | 8.03 |
| Selling And Marketing Expense | 38.92 | 41.47 | 36.25 | 43.37 |
| General And Administrative Expense | 111.07 | 89 | 88.11 | 116.66 |
| Other Gand A | 111.07 | 89 | 88.11 | 116.66 |
| Salaries And Wages | 0 | 0 | 0 | 0 |
| Operating Revenue | 618.97 | 289.21 | 283.47 | 322.67 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Fulgent Genetics, Inc.this co. | FLGT | $427M | - | 0.41 | -5.5% | -1.98 |
| Atea Pharmaceuticals, Inc. | AVIR | $435M | - | 1.54 | -57.5% | -0.73 |
| REGENXBIO Inc. | RGNX | $434M | - | 4.16 | -188.7% | -3.19 |
| Evolent Health, Inc. | EVH | $432M | - | 1.02 | -128.7% | 14.29 |
| Aura Biosciences, Inc. | AURA | $432M | - |
| 3.13 |
| -77.6% |
| -2.73 |
| Vanda Pharmaceuticals Inc. | VNDA | $424M | - | 1.27 | -67.4% | -1.16 |
| Strata Critical Medical, Inc. | SRTA | $424M | - | 1.52 | 14.8% | -64.52 |
| Lexeo Therapeutics, Inc. | LXEO | $421M | - | 1.68 | -40.5% | -2.27 |
| Benitec Biopharma Inc. | BNTC | $416M | - | 2.22 | -39.0% | -4.75 |
| Peer Median | - | - | 1.61 | -62.4% | -2.50 | |