Fulgent Genetics Reports 2024 Financial Results

Fulgent Genetics ( (FLGT) ) has released its Q4 earnings. Here is a breakdown of the information Fulgent Genetics presented to its investors.

Fulgent Genetics, Inc. is a technology-driven company operating in the laboratory services and therapeutic development sectors, focusing on precision medicine and cancer treatment innovations. The company recently announced its financial results for the fourth quarter and full year of 2024, highlighting 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 for the year, Fulgent reported a non-GAAP income of $15.0 million, showcasing its ability to manage costs effectively. The company ended the year with a strong cash position of $828.6 million, which is expected to support its growth initiatives in 2025. Fulgent’s laboratory services business showed significant growth, and its therapeutic development arm is advancing with clinical trials for its drug candidates. Looking ahead, Fulgent projects core revenue of approximately $310 million for 2025, with a continued focus on expanding its laboratory services and therapeutic pipeline.