Fulgent Genetics, Inc. (FLGT) came out with quarterly earnings of $0.04 per share, beating the Zacks Consensus Estimate of a loss of $0.19 per share. This compares to loss of $0.01 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 121.05%. A quarter ago, it was expected that this company would post a loss of $0.12 per share when it actually produced earnings of $0.04, delivering a surprise of 133.33%.Over the last four quarters, ...

Fulgent Genetics (FLGT) Q1 2025 Earnings Call May 02, 2025 08:30 AM ET Speaker0 a reminder, this conference is being recorded. It's now my pleasure to turn the call over to Melanie Solomon, Investor Relations. Please go ahead. Speaker1 Thank you, Kevin. Good morning, and welcome to the Fulgent first quarter twenty twenty five financial results conference call. On the call are Ming Hsieh, Chief Executive Officer Paul Kim, Chief Financial Officer and Brandon Perthews, Chief Commercial Officer. The company's p ...

This presentation contains forward-looking statements, which are statements other than those of historical facts and which represent the estimates and expectations of Fulgent Genetics, Inc. (the "Company" or "Fulgent") about future events based on current views and assumptions. Examples of forward-looking statements made in this presentation include, among others, those related to long-term upside or value, management of risk, anticipated growth and positioning, addressable market estimates, the Company's m ...

Revenue Performance - Revenue for the three months ended March 31, 2025, was $73.5 million, an increase of $9.0 million or 14% from $64.5 million in the same period of 2024[118]. - Revenue from precision diagnostics increased by $6.7 million, or 18%, from $37.4 million in Q1 2024 to $44.1 million in Q1 2025[119]. - Revenue from BioPharma services rose by $1.4 million, or 53%, from $2.7 million in Q1 2024 to $4.1 million in Q1 2025[119]. - Revenue from non-U.S. sources decreased by $1.0 million, or 15%, from $6.6 million in Q1 2024 to $5.6 million in Q1 2025[123]. - One customer accounted for $17.6 million, or 24%, of total revenue in Q1 2025, compared to $12.6 million, or 20%, in Q1 2024, indicating revenue concentration risk[122]. Profitability and Expenses - Gross profit increased by $6.2 million, or 28%, from $22.1 million in Q1 2024 to $28.3 million in Q1 2025, with gross margin improving from 34% to 39%[125]. - Cost of revenue increased by $2.7 million, or 7%, from $42.4 million in Q1 2024 to $45.1 million in Q1 2025, while the cost of revenue as a percentage of revenue decreased from 66% to 61%[124]. - Net loss attributable to Fulgent for Q1 2025 was $11.5 million, a decrease of $1.9 million or 14% from a net loss of $13.5 million in Q1 2024[118]. - Consolidated selling and marketing expenses decreased by $0.5 million, or 6%, from $9.0 million to $8.5 million for the same period[131]. - Consolidated general and administrative expenses increased by $3.8 million, or 18%, from $21.5 million to $25.3 million for the three months ended March 31, 2024, and 2025 respectively[132]. Research and Development - Research and development expenses totaled $12.4 million for Q1 2025, up $961,000 or 8% from $11.4 million in Q1 2024[126]. - Therapeutic development research and development expenses increased by $1.2 million, or 29%, from $4.1 million in Q1 2024 to $5.3 million in Q1 2025[128]. - Research and development expenses for the therapeutic development segment increased by $1.2 million, or 29%, from $4.1 million to $5.3 million for the three months ended March 31, 2024, and 2025 respectively[129]. - The company expects research and development expenses to continue increasing as clinical trials progress for FID-007, FID-022, and other preclinical studies[130]. Cash Flow and Financial Position - Cash used in operating activities was $(4.4) million for the three months ended March 31, 2025, compared to $7.3 million provided in the same period in 2024[143]. - Cash provided by investing activities was $27.7 million for the three months ended March 31, 2025, primarily from maturities of marketable securities[146]. - Cash used in financing activities was $11.2 million for the three months ended March 31, 2025, primarily related to stock repurchases[148]. - As of March 31, 2025, the company had $814.6 million in cash, cash equivalents, restricted cash, and marketable securities[138]. - The company repurchased 0.5 million shares of common stock at an aggregate cost of $7.9 million during the three months ended March 31, 2025[152]. Other Income - Other income, net, primarily comprised of interest income, was $8.0 million for the three months ended March 31, 2025, compared to $7.4 million for the same period in 2024[134].

Exhibit 99.1 Fulgent Reports First Quarter 2025 Financial Results EL MONTE, CA, May 2, 2025 — Fulgent Genetics, Inc. (NASDAQ: FLGT) ("Fulgent," or the "Company"), a technology-based company with a well-established laboratory services business and a therapeutic development business, today announced financial results for its first quarter ended March 31, 2025. First Quarter 2025 Results: Note: 1) Core Revenue is revenue calculated in accordance with GAAP minus revenue from COVID-19 testing products and servic ...

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Financial Data and Key Metrics Changes - Full-year core revenue totaled $281.2 million, a growth of 7% compared to $262.1 million in 2023, slightly exceeding the guidance of $280 million [31] - Fourth-quarter revenue was $76.2 million, compared to $70.5 million in Q4 2023, with core business revenue totaling $76 million [32] - GAAP gross margin was 41.8%, while non-GAAP gross margin was 44.2%, showing improvement over the year [32] Business Line Data and Key Metrics Changes - Anatomic pathology grew sequentially by 9% due to a revised go-to-market plan, focusing on dermatopathology [17][56] - Precision diagnostics delivered fourth-quarter growth of 23% year over year, with significant contributions from the Beacon expanded carrier screening product [20] - Biopharma services experienced a 56% growth quarter over quarter, increasing from $3.9 million in Q3 to $6.1 million in Q4 [27] Market Data and Key Metrics Changes - The company expects total core revenue to be approximately $310 million for 2025, representing a 10% year-over-year growth [36] - Expected revenues for 2025 are estimated as follows: $187 million from Precision Diagnostics, $106 million from anatomic pathology, and $17 million from biopharma services [39] Company Strategy and Development Direction - The company is focused on expanding its laboratory capabilities and sales team to drive growth in its core business [28][39] - There is an emphasis on strategic partnerships, such as the collaboration with Foundation Medicine for germline oncology testing [25][70] - The company is also evaluating opportunities for mergers and acquisitions to enhance its market position [29] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth in laboratory services and therapeutic development, highlighting the potential of their clinical pipeline [8][14] - The anticipated cash burn for the therapeutic development business is approximately $25 million for 2025, indicating a strategic investment in R&D [40][100] - Management expects variability in revenue from anatomic pathology and biopharma services due to dependence on healthcare provider treatments and pharmaceutical partners [38] Other Important Information - The company ended the fourth quarter with approximately $828.6 million in cash and marketable securities, indicating a strong financial position [35] - The company has repurchased approximately 185,000 shares at an aggregated cost of $3.1 million, with $147 million remaining for future stock repurchases [35] Q&A Session Summary Question: Key milestones for FID-007 and trial costs - The clinical trial for FID-007 is expected to cost around $10 million, with enrollment of approximately 46 patients [44][45] Question: Dynamics behind Q4 growth - There were no one-time events affecting Q4 growth; the company gained market share through consistent performance [47][50] Question: Revised plan for anatomic pathology - The sequential growth of 9% in anatomic pathology was driven by a focus on dermatopathology and improved turnaround times [53][56] Question: Guidance for 2025 and new partnerships - The guidance for 2025 is based on current visibility, with potential upside from new partnerships not yet included in the revenue forecast [68][70] Question: VA hospital contract revenue expectations - Revenue from the VA hospital contract is still early to disclose, but progress has been positive [72] Question: Sales team scaling in anatomic pathology - The sales team is currently subscale, and the company plans to continue expanding it to capture more market share [74][76] Question: Cash utilization for clinical trials - The expected cash burn for the therapeutic development unit is around $25 million for 2025, reflecting efficient use of funds [99][100]

Fulgent Genetics, Inc. (NASDAQ:FLGT) Q4 2024 Earnings Conference Call February 27, 2025 8:30 AM ET Company Participants Melanie Solomon - IR Ming Hsieh - Chairman and CEO Brandon Perthuis - Chief Commercial Officer Paul Kim - CFO Conference Call Participants David Westenberg - Piper Sandler Lu Li - UBS Andrew Cooper - Raymond James Operator Greetings, and welcome to the Fulgent Genetics, Inc. Q4 2024 Conference Call and Webcast. At this time, all participants are in a listen-only mode. A question and answer ...

Core Viewpoint - Fulgent Genetics, Inc. is conducting its Q4 2024 earnings conference call to discuss financial results and future expectations [1][3]. Group 1: Company Overview - The conference call features key executives including Ming Hsieh (CEO), Paul Kim (CFO), and Brandon Perthuis (Chief Commercial Officer) [3]. - The financial results press release is accessible on the company's Investor Relations website [4]. Group 2: Forward-Looking Statements - Management will provide forward-looking statements during the call, which are based on current views and expectations that may change [5]. - The company does not commit to updating any forward-looking statements to reflect actual results or changes in expectations [6].

Core Insights - Fulgent Genetics, Inc. (FLGT) reported quarterly earnings of $0.04 per share, exceeding the Zacks Consensus Estimate of a loss of $0.12 per share, representing an earnings surprise of 133.33% [1] - The company achieved revenues of $76.21 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 1.90% and showing an increase from $70.51 million year-over-year [2] - Fulgent Genetics has outperformed consensus EPS estimates in four consecutive quarters and has topped consensus revenue estimates three times in the last four quarters [2] Earnings Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and future earnings expectations [3] - The current consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $74.8 million, and for the current fiscal year, it is -$0.09 on revenues of $326.34 million [7] Industry Context - The Medical Info Systems industry, to which Fulgent Genetics belongs, is currently ranked in the top 35% of over 250 Zacks industries, indicating a favorable outlook compared to lower-ranked industries [8] - Another company in the same industry, TruBridge (TBRG), is expected to report quarterly earnings of $0.58 per share, reflecting a year-over-year increase of 61.1% [9]