Fulgent Genetics Financials
This page shows Fulgent Genetics (FLGT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 8 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Key Financial Metrics
Fulgent Genetics generated $283.5M in revenue in fiscal year 2024. This represents a decrease of 71.4% from the prior year.
Fulgent Genetics's EBITDA was -$49.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 107.1% from the prior year.
Fulgent Genetics generated -$19.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 103.7% from the prior year.
Fulgent Genetics reported -$42.7M in net income in fiscal year 2024. This represents a decrease of 108.4% from the prior year.
Fulgent Genetics earned $-1.41 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 108.6% from the prior year.
Fulgent Genetics held $55.1M in cash against $0 in long-term debt as of fiscal year 2024.
Fulgent Genetics had 31M shares outstanding in fiscal year 2024. This represents an increase of 2.3% from the prior year.
Fulgent Genetics's gross margin was 37.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is down 40.5 percentage points from the prior year.
Fulgent Genetics's operating margin was -26.1% in fiscal year 2024, reflecting core business profitability. This is down 94.2 percentage points from the prior year.
Fulgent Genetics's net profit margin was -15.1% in fiscal year 2024, showing the share of revenue converted to profit. This is down 66.2 percentage points from the prior year.
Fulgent Genetics's ROE was 11.3% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 32.2 percentage points from the prior year.
Fulgent Genetics invested $48.8M in research and development in fiscal year 2024. This represents an increase of 101.6% from the prior year.
Fulgent Genetics spent $225K on share buybacks in fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
Fulgent Genetics invested $40.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 69.3% from the prior year.
FLGT Income Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $84.1M+2.8% | $81.8M+11.4% | $73.5M+4.2% | $70.5M-16.7% | $84.7M+24.8% | $67.9M+2.5% | $66.2M-2.3% | $67.7M |
| Cost of Revenue | $48.6M+2.5% | $47.4M+5.0% | $45.1M-0.4% | $45.3M+1.0% | $44.8M-5.2% | $47.3M-0.2% | $47.4M-13.5% | $54.7M |
| Gross Profit | $35.5M+3.1% | $34.4M+21.5% | $28.3M+12.4% | $25.2M-36.7% | $39.8M+93.7% | $20.6M+9.4% | $18.8M+44.8% | $13.0M |
| R&D Expenses | $13.9M+2.8% | $13.5M+8.8% | $12.4M+3.7% | $12.0M+19.4% | $10.0M+3.3% | $9.7M-0.9% | $9.8M+15.0% | $8.5M |
| SG&A Expenses | $23.3M-11.6% | $26.4M+4.4% | $25.3M-20.2% | $31.7M+81.2% | $17.5M-2.8% | $18.0M-17.5% | $21.8M-24.3% | $28.8M |
| Operating Income | -$15.3M+22.1% | -$19.7M+0.4% | -$19.8M+86.9% | -$151.1M-70717.3% | $214K+101.1% | -$19.8M+20.2% | -$24.8M+32.1% | -$36.6M |
| Interest Expense | $28K+64.7% | $17K+21.4% | $14K-82.9% | $82K+17.1% | $70K-48.5% | $136K-32.0% | $200K-93.5% | $3.1M |
| Income Tax | -$683K+69.8% | -$2.3M-1385.8% | $176K+101.6% | -$10.9M-153.4% | $20.3M+753.6% | -$3.1M+40.2% | -$5.2M+44.6% | -$9.4M |
| Net Income | -$6.6M+65.7% | -$19.3M-61.8% | -$11.9M+90.7% | -$127.3M-871.1% | -$13.1M-13.1% | -$11.6M+26.9% | -$15.8M+33.5% | -$23.8M |
| EPS (Diluted) | $-0.21+66.1% | $-0.62-67.6% | $-0.37+91.4% | $-4.29-875.0% | $-0.44-15.8% | $-0.38+26.9% | $-0.52+35.0% | $-0.80 |
FLGT Balance Sheet
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $1.2B+1.2% | $1.2B-0.5% | $1.2B-2.4% | $1.2B-9.1% | $1.4B+0.3% | $1.4B-1.6% | $1.4B-0.7% | $1.4B |
| Current Assets | $507.4M+18.3% | $428.7M+2.9% | $416.8M-17.9% | $507.8M-7.6% | $549.9M+4.1% | $528.3M-9.0% | $580.7M-7.5% | $627.9M |
| Cash & Equivalents | $117.6M+33.9% | $87.9M+30.6% | $67.3M-31.0% | $97.5M+15.9% | $84.1M+44.1% | $58.3M-11.8% | $66.2M-16.8% | $79.5M |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $71.2M-7.8% | $77.2M+8.0% | $71.5M+39.8% | $51.1M+3.8% | $49.3M+41.6% | $34.8M-20.1% | $43.5M-17.4% | $52.7M |
| Goodwill | $25.1M+13.7% | $22.1M0.0% | $22.1M0.0% | $22.1M-84.5% | $141.8M-0.1% | $142.0M-0.8% | $143.1M+0.1% | $143.0M |
| Total Liabilities | $93.8M+6.4% | $88.2M+6.3% | $83.0M-18.7% | $102.0M+5.7% | $96.6M+5.8% | $91.3M-15.4% | $107.8M-7.2% | $116.2M |
| Current Liabilities | $72.4M+1.5% | $71.3M+8.2% | $65.9M-9.7% | $73.0M+18.9% | $61.4M-5.2% | $64.8M-20.9% | $81.9M-7.0% | $88.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $1.1B+1.3% | $1.1B-1.0% | $1.1B-0.9% | $1.1B-10.2% | $1.3B-0.1% | $1.3B-0.4% | $1.3B-0.1% | $1.3B |
| Retained Earnings | $553.4M-1.2% | $560.0M-3.3% | $578.9M-8.6% | $633.2M-16.8% | $761.3M-1.7% | $774.4M-1.4% | $785.7M-1.9% | $801.0M |
FLGT Cash Flow Statement
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | N/A | N/A | -$4.4M | N/A | N/A | N/A | -$7.9M | N/A |
| Capital Expenditures | N/A | N/A | $4.7M | N/A | N/A | N/A | $2.0M | N/A |
| Free Cash Flow | N/A | N/A | -$9.1M | N/A | N/A | N/A | -$9.9M | N/A |
| Investing Cash Flow | N/A | N/A | $27.7M | N/A | N/A | N/A | -$4.4M | N/A |
| Financing Cash Flow | N/A | N/A | -$11.2M | N/A | N/A | N/A | -$1.1M | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | $8.7M | N/A | N/A | N/A | N/A | N/A |
FLGT Financial Ratios
| Metric | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'22 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 42.2%+0.1pp | 42.1%+3.5pp | 38.6%+2.8pp | 35.8%-11.3pp | 47.0%+16.7pp | 30.3%+1.9pp | 28.4%+9.3pp | 19.2% |
| Operating Margin | -18.3%+5.8pp | -24.1%+2.9pp | -27.0%+187.4pp | -214.3%-214.6pp | 0.3%+29.4pp | -29.2%+8.3pp | -37.5%+16.5pp | -54.0% |
| Net Margin | -7.9%+15.7pp | -23.5%-7.3pp | -16.2%+164.3pp | -180.5%-165.0pp | -15.5%+1.6pp | -17.1%+6.9pp | -23.9%+11.2pp | -35.2% |
| Return on Equity | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 8.9% |
| Return on Assets | -0.5%+1.1pp | -1.6%-0.6pp | -1.0%+9.3pp | -10.3%-9.3pp | -1.0%-0.1pp | -0.9%+0.3pp | -1.1%+0.6pp | -1.7% |
| Current Ratio | 7.01+1.0 | 6.01-0.3 | 6.32-0.6 | 6.96-2.0 | 8.95+0.8 | 8.15+1.1 | 7.09-0.0 | 7.13 |
| Debt-to-Equity | 0.080.0 | 0.080.0 | 0.07-0.0 | 0.09+0.0 | 0.080.0 | 0.07-0.0 | 0.090.0 | 0.09 |
| FCF Margin | N/A | N/A | -12.4% | N/A | N/A | N/A | -15.0% | N/A |
Financial Health Signals
Based on FY2024 annual data. Scores normalized against common benchmarks.
Financial strength trend (9 signals). 7-9 = strong, 0-3 = weak.
Operating cash flow vs net income. Above 1.0x = cash-backed earnings.
Operating income vs interest expense. Above 5x = safe, below 2x = risky.
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Frequently Asked Questions
What is Fulgent Genetics's annual revenue?
Fulgent Genetics (FLGT) reported $283.5M in total revenue for fiscal year 2024. This represents a -71.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Fulgent Genetics's revenue growing?
Fulgent Genetics (FLGT) revenue declined by 71.4% year-over-year, from $992.6M to $283.5M in fiscal year 2024.
Is Fulgent Genetics profitable?
No, Fulgent Genetics (FLGT) reported a net income of -$42.7M in fiscal year 2024, with a net profit margin of -15.1%.
What is Fulgent Genetics's earnings per share (EPS)?
Fulgent Genetics (FLGT) reported diluted earnings per share of $-1.41 for fiscal year 2024. This represents a -108.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.
What is Fulgent Genetics's EBITDA?
Fulgent Genetics (FLGT) had EBITDA of -$49.0M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.
What is Fulgent Genetics's gross margin?
Fulgent Genetics (FLGT) had a gross margin of 37.8% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.
What is Fulgent Genetics's operating margin?
Fulgent Genetics (FLGT) had an operating margin of -26.1% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.
What is Fulgent Genetics's net profit margin?
Fulgent Genetics (FLGT) had a net profit margin of -15.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.
What is Fulgent Genetics's return on equity (ROE)?
Fulgent Genetics (FLGT) has a return on equity of 11.3% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.
What is Fulgent Genetics's free cash flow?
Fulgent Genetics (FLGT) generated -$19.3M in free cash flow during fiscal year 2024. This represents a -103.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Fulgent Genetics's operating cash flow?
Fulgent Genetics (FLGT) generated $21.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.
What are Fulgent Genetics's total assets?
Fulgent Genetics (FLGT) had $1.2B in total assets as of fiscal year 2024, including both current and long-term assets.
What are Fulgent Genetics's capital expenditures?
Fulgent Genetics (FLGT) invested $40.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.
How much does Fulgent Genetics spend on research and development?
Fulgent Genetics (FLGT) invested $48.8M in research and development during fiscal year 2024.
Does Fulgent Genetics buy back shares?
Yes, Fulgent Genetics (FLGT) spent $225K on share buybacks during fiscal year 2024, returning capital to shareholders by reducing shares outstanding.
How many shares does Fulgent Genetics have outstanding?
Fulgent Genetics (FLGT) had 31M shares outstanding as of fiscal year 2024.
What is Fulgent Genetics's current ratio?
Fulgent Genetics (FLGT) had a current ratio of 4.85 as of fiscal year 2024, which is generally considered healthy.
What is Fulgent Genetics's debt-to-equity ratio?
Fulgent Genetics (FLGT) had a debt-to-equity ratio of 0.08 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Fulgent Genetics's return on assets (ROA)?
Fulgent Genetics (FLGT) had a return on assets of -3.5% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.
What is Fulgent Genetics's Piotroski F-Score?
Fulgent Genetics (FLGT) has a Piotroski F-Score of 2 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals.
Are Fulgent Genetics's earnings high quality?
Fulgent Genetics (FLGT) has an earnings quality ratio of -0.49x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation.
Can Fulgent Genetics cover its interest payments?
Fulgent Genetics (FLGT) has an interest coverage ratio of -434.8x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline.
How financially healthy is Fulgent Genetics?
Fulgent Genetics (FLGT) scores 41 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks.