FLGT
Fulgent Genetics, Inc.27.16
+0.24+0.89%
Dec 16, 4:00:01 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Details customer loss, offsets, margins
Q&A quantified the largest customer's ramp-down from $70.8M in 2025 to $11.8M in 2026—a $59M hit—with solid contractual visibility and offsets via $50-55M from Bako/StrataDx plus organic Precision Diagnostics growth from RNA-WGS, MolDX-approved Lumira, DPYD testing, and sales team expansion. Gross margins will dip four points in Q1 and two in Q2 but rebound above 41% by Q4 on back-half momentum. No other customer tops 10%. Bako adds 20-30 reps for cross-selling synergies. Beacon screening stays robust organically. Management calls it a one-time event, holding headcount flat. Confident tone; watch Precision Dx traction.
Key Stats
Market Cap
839.58MP/E (TTM)
-Basic EPS (TTM)
-1.40Dividend Yield
0%Recent Filings
8-K
Closes $56.9M pathology deals
Fulgent Genetics closed its $56.9 million cash acquisition of Bako Diagnostics assets and StrataDx equity on March 17, 2026, bolstering dermatopathology and podiatric pathology capabilities. Deal includes PSA payment of ~$13.5 million and APA payment of ~$43.4 million, plus lease assumption for 29,099 sq ft Alpharetta lab through 2032. Integration risks loom.
10-K
FY2025 results
Fulgent Genetics posted FY2025 revenue of $322.7M, up 14% y/y, with precision diagnostics +14%, anatomic pathology +10%, and BioPharma services +55%—yet Q4 saw testing volume soften from its largest lab customer (22% of sales), which plans to internalize tests into 2026. Gross margins expanded to 41% from 38% via lab efficiencies, but operating loss widened to $91.1M on $28.6M higher G&A (provision for credit losses, legal accruals) and R&D ramp for FID-007 Phase 2 (enrollment complete, interim data June 2026) and FID-022 Phase 1. Cash pile sits at $705.5M after $99.5M tax credit buy and $10.9M buybacks; Bako/StrataDx deals ($55.5M) set for H1 2026 close. DOJ CIDs loom over billing practices.
8-K
Q4 revenue up 9%, guides $350M
Fulgent Genetics reported Q4 revenue of $83.3 million, up 9% year-over-year, and full-year revenue of $322.7 million, up 14%, yet posted GAAP losses from a $14.5 million professional liability expense. Non-GAAP income hit $5.2 million in Q4, $13.2 million annually. Guides 2026 revenue to $350 million despite major customer in-sourcing, banking $705.5 million cash. Acquisitions pending.
8-K
Fulgent buys pathology labs
Fulgent Genetics' subsidiary signed deals on December 20, 2025, to buy Dermatopathology Experts equity for $12.5M cash and Bako entities' dermatopathology/podiatric pathology assets for $43M cash, both subject to adjustments and linked closings. Deals target H1 2026 close pending healthcare regulatory nods and customary conditions, including three-year non-solicits. Cash deals bolt on specialized pathology testing.
8-K
Q3 revenue up 17%
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