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Fulgent Genetics Inc (FLGT)
NASDAQ:FLGT
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Fulgent Genetics
(NASDAQ:FLGT)
51Neutral
Fulgent Genetics (FLGT) vs. S&P 500 (SPY)
Market Cap
$537.97M
Dividend YieldN/A
Average Volume (3M)372.24K
Price to Earnings (P/E)―
Beta (1Y)0.35
Revenue Growth-1.99%
EPS Growth74.89%
CountryUS
Employees1,184
SectorHealthcare
Sector Strength78
IndustryMedical Diagnostics & Screening
Share Statistics
EPS (TTM)-1.42
Shares Outstanding30,829,454
10 Day Avg. Volume648,608
30 Day Avg. Volume372,240
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)1.90
Price to Cash Flow (P/CF)5.40
P/FCF Ratio5.40
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$18.00Price Target Upside2.97% Upside
Rating ConsensusHold
Number of Analyst Covering2
Fulgent Genetics Business Overview & Revenue Model
Company DescriptionFulgent Genetics (FLGT) is a technology-based company in the healthcare sector, specializing in providing comprehensive genetic testing services. The company offers a wide range of testing solutions across various areas such as oncology, reproductive health, and rare diseases. Through its advanced proprietary technology platform, Fulgent Genetics aims to deliver high-quality, cost-effective testing services to healthcare providers, researchers, and patients globally.
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 a challenging financial trajectory with declining revenues and profitability. While the balance sheet is strong, with low debt, the income statement and cash flow scores highlight issues with revenue decline and reduced operational cash generation.Income Statement
Fulgent Genetics has seen a decline in revenue and profitability in recent years, with total revenue decreasing from $992.6M in 2021 to $283.5M in 2024. The company has struggled with negative EBIT and net income for the last two years, indicating challenges in operational efficiency and cost management. However, it has maintained a positive gross profit margin, suggesting some level of cost control at the production level.45
Neutral
Balance Sheet
The balance sheet remains relatively robust, with a strong equity base and low levels of debt, evidenced by a debt-to-equity ratio significantly below 1. Stockholders' equity has remained steady, and the company has maintained a healthy equity ratio, indicating financial stability despite recent operational challenges.65
Positive
Cash Flow
Operating cash flow has dropped dramatically from $253.5M in 2022 to $27M in 2024, reflecting reduced operational cash generation. Free cash flow remains positive but significantly lower than peak levels, suggesting potential issues with liquidity if revenue and profits do not recover.50
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 283.47M | 289.21M | 618.97M | 992.58M | 421.71M | Gross Profit |
| 107.22M | 104.46M | 366.90M | 777.05M | 331.90M | EBIT |
| -73.92M | -72.69M | 178.53M | 675.95M | 290.16M | EBITDA |
| -73.92M | -46.55M | 221.59M | 675.95M | 290.16M | Net Income Common Stockholders |
| -42.71M | -167.82M | 143.40M | 507.36M | 214.31M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 258.11M | 424.15M | 852.88M | 935.55M | 431.87M | Total Assets |
| 1.22B | 1.24B | 1.39B | 1.28B | 700.46M | Total Debt |
| 412.00K | 15.25M | 20.64M | 21.28M | 15.85M | Net Debt |
| -54.73M | -82.22M | -58.87M | -143.61M | -71.57M | Total Liabilities |
| 90.81M | 102.04M | 116.18M | 112.84M | 131.07M | Stockholders Equity |
| 1.13B | 1.14B | 1.27B | 1.17B | 569.39M |
| Cash Flow | Free Cash Flow | |||
| -19.25M | 4.80M | 234.75M | 514.73M | 104.12M | Operating Cash Flow |
| 21.06M | 27.00M | 253.52M | 538.58M | 140.63M | Investing Cash Flow |
| 38.90M | 38.90M | -261.31M | -546.55M | -326.44M | Financing Cash Flow |
| -47.78M | -47.78M | -77.14M | 85.39M | 261.25M |
Fulgent Genetics Technical Analysis
Positive
17.48
Price Trends
17.12
Positive
18.25
Negative
19.96
Negative
Market Momentum
0.09
Negative
54.70
Neutral
56.50
Neutral
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 17.48 is above the 20-day moving average (MA) of 16.67, above the 50-day MA of 17.12, and below the 200-day MA of 19.96, indicating a neutral trend. The MACD of 0.09 indicates Negative momentum. The RSI at 54.70 is Neutral, neither overbought nor oversold. The STOCH value of 56.50 is Neutral, 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 75 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 (49)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | $8.54B | 105.65 | 2.27% | ― | 0.66% | ― | |
53 Neutral | $8.52B | ― | -37.09% | ― | 10.37% | -389.98% | |
53 Neutral | $5.26B | ― | -4584.47% | ― | 31.04% | 16.91% | |
51 Neutral | $537.97M | ― | -3.76% | ― | -1.99% | 74.89% | |
51 Neutral | $935.92M | ― | -17.15% | ― | 12.15% | 61.33% | |
49 Neutral | $13.39B | ― | -30.11% | ― | -2.93% | -4.69% | |
49 Neutral | $6.90B | 0.02 | -54.05% | 2.46% | 24.91% | -3.14% |
* Healthcare Sector Average
Performance Comparison
FLGT
Fulgent Genetics
17.48
-5.57
-24.16%
EXAS
Exact Sciences
46.35
-14.73
-24.12%
ILMN
Illumina
84.20
-44.84
-34.75%
MYGN
Myriad Genetics
10.41
-11.12
-51.65%
QGEN
Qiagen
39.40
-4.88
-11.02%
GH
Guardant Health
43.10
24.10
126.84%
Fulgent Genetics Earnings Call Summary
Earnings Call Date: Feb 28, 2025 | % Change Since: 11.41% | Next Earnings Date: May 2, 2025
Earnings Call Sentiment Positive
Fulgent Genetics showed strong revenue growth in the fourth quarter and made significant progress in clinical trials and strategic partnerships. However, the company reported a GAAP loss and expects lower operating margins due to continued investment in growth. Despite these challenges, the company is optimistic about future opportunities and growth potential.Highlights
Record Fourth Quarter Growth
Fulgent Genetics delivered a fourth-quarter revenue growth of 14% year over year and 6% sequentially, exceeding annual core revenue guidance of $280 million.
Successful Clinical Trials
In 2024, Fulgent Genetics began a phase two clinical trial of FID-007 with encouraging preliminary results. They also submitted an IND for FID-022, cleared by the FDA, with the first patient enrollment expected in Q2 2025.
Strong Biopharma Services Growth
Biopharma services grew 56% quarter over quarter, from $3.9 million in Q3 to $6.1 million in Q4.
Significant Partnerships
Fulgent Genetics announced a partnership with Foundation Medicine to launch two tests using Fulgent's proprietary technology.
Improved Operational Efficiency
Fulgent Genetics relocated their lab to Coppell, Texas, and consolidated their New York lab, improving operational efficiency.
Lowlights
GAAP Loss for 2024
The company reported a GAAP loss of $42.7 million or a loss of $1.41 per share for the year.
Lower Operating Margins Expected
Non-GAAP operating margins are expected to decrease to approximately minus 15% for 2025 as the company continues to invest in growth.
Seasonal and Weather Impacts
The company anticipates Q1 2025 revenue to be slightly down from Q4 2024 due to healthcare benefit resets and adverse weather events in Texas.
Company Guidance
During the Fulgent Genetics Q4 2024 earnings call, the company provided guidance and key metrics for their business outlook. They are anticipating a 10% year-over-year growth in core revenue for 2025, estimating total core revenue to be approximately $310 million, with $187 million from Precision Diagnostics, $106 million from anatomic pathology, and $17 million from biopharma services. The company expects non-GAAP gross margins to slightly exceed 40% and anticipates a GAAP EPS loss of approximately $1.95 per share. Additionally, they project a cash burn of around $25 million for their therapeutics development business. Fulgent's management expressed optimism about their clinical pipeline, including the phase two trial of FID-007 and the initiation of a phase one trial for FID-022, with total clinical trial costs estimated at $18 million combined. They also highlighted strategic partnerships that could drive future growth but are not yet fully factored into their guidance.Fulgent Genetics Corporate Events
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.