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Fulgent Genetics Inc (FLGT)
NASDAQ:FLGT
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Earnings Data
Report Date
Feb 27, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.12Last Year’s EPS
$0.28Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 08, 2024
|% Change Since: -16.71%
|Next Earnings Date:Feb 27, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture. While there are significant achievements in precision diagnostics growth, new contracts, and advancements in therapeutic development, challenges remain with declining total revenue, impairment charges, and operating margin pressures. The company's strong balance sheet and strategic initiatives provide a positive outlook for future growth.Company Guidance
During the Fulgent Genetics Q3 2024 earnings call, the management provided guidance on several key metrics and business strategies. The company reported a total revenue of $71.7 million for the quarter, driven primarily by growth in its Precision Diagnostics, Anatomic Pathology, and Pharma Services segments. The Precision Diagnostics segment saw an 18.8% year-over-year increase in revenue, with significant contributions from reproductive health and hereditary cancer screening, including a new $99 million contract over five years with VA hospitals. The company maintained a strong GAAP gross margin of 37.3%, or 40% on a non-GAAP basis, and improved its non-GAAP operating margin by approximately two percentage points sequentially. For the full year 2024, Fulgent reiterated its core revenue guidance of approximately $280 million, with non-GAAP gross margins expected in the high-30% range, reaching around 40% in the last quarter. Additionally, the company anticipates ending the year with approximately $800 million in cash and marketable securities. The management also highlighted a strategic focus on leveraging its strong balance sheet to explore M&A opportunities, aiming to support long-term growth and operational efficiency across its business lines.Precision Diagnostics Growth
Precision Diagnostics saw an 18.8% year-over-year revenue increase, driven by strong demand in reproductive health and hereditary cancer screening.
VA Contract Achievement
Secured a significant VA contract for hereditary cancer and germline tests, with a potential value of up to $99 million over 5 years.
Anatomic Pathology Improvement
Reported improved performance in Anatomic Pathology due to enhanced sales strategies, faster turnaround times, and increased digital pathology adoption.
Therapeutic Development Milestones
Initiated Phase II clinical trial for FID-007 and progressed with FID-022 towards IND application, showcasing promising preclinical results.
Strong Balance Sheet
Ending the quarter with approximately $815.4 million in cash and equivalents, indicating financial robustness.
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FLGT Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FLGT Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 08, 2024 | $22.02 | $19.43 | -11.76% |
| Aug 02, 2024 | $23.57 | $25.06 | +6.32% |
| May 03, 2024 | $21.24 | $21.50 | +1.22% |
| Feb 28, 2024 | $25.48 | $23.40 | -8.16% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Fulgent Genetics Inc (FLGT) report earnings?
Fulgent Genetics Inc (FLGT) is schdueled to report earning on Feb 27, 2025, TBA Not Confirmed.
What is Fulgent Genetics Inc (FLGT) earnings time?
Fulgent Genetics Inc (FLGT) earnings time is at Feb 27, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FLGT EPS forecast?
FLGT EPS forecast for the fiscal quarter 2024 (Q4) is -$0.12.
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