Fulgent Genetics (FLGT) investor relations material

Executive summary

• Q3 revenue was $90.412M, up 8% YoY; GAAP and non-GAAP losses narrowed QoQ but widened YoY.

• FY26 revenue guidance remained $330M–$340M; non-GAAP loss-per-share guidance improved to $1.65–$1.75.

Financial highlights

• Q3 revenue was $90.412M versus $84.069M a year earlier; nine-month revenue was $246.939M versus $239.335M.

• GAAP gross margin was 35.3% versus 42.2% YoY; non-GAAP gross margin was 36.3% versus 44.3%.

• Q3 GAAP net loss was $13.152M, or $0.48/share, versus $6.608M, or $0.21/share; non-GAAP loss was $2.407M, or $0.09/share.

• GAAP operating expenses were $54.5M versus $61.8M in Q2; non-GAAP operating expenses were $44.8M versus $49.2M.

• Q3 adjusted EBITDA loss was $7.467M versus income of $0.708M YoY; bad-debt recoveries were $3.2M.

Outlook and guidance

• FY26 revenue guidance remained $330M–$340M, representing stated YoY growth of 2.3%–5.4%; segment ranges are Precision Diagnostics $161M–$165M, Anatomic Pathology $146M–$150M and BioPharma Services $23M–$25M.

• FY26 non-GAAP loss guidance improved to $1.65–$1.75/share, or $46M–$50M; non-GAAP gross margin is expected in the mid-30% range.

• Year-end cash, restricted cash and marketable securities are projected at ~$630M, assuming $13M capital purchases and $21M therapeutic development spend; no further near-term repurchases are assumed.

• Billing-system customizations and improved collections are expected to support gross margin, though timing of further collection improvements remains uncertain.