Fulgent Genetics to acquire Inform Diagnostics for $170M; prelim Q1 revenue ~$300M, above guidance

Fulgent Genetics, Inc.

Acquisition of Inform Diagnostics for ~$170M cash; expected to close Q2 2022, funded from cash on hand.
Preliminary Q1 total revenue ~$300M, exceeding prior guidance of $245M; core rev excl. COVID at least $22M.
FY2022 core revenue guidance raised to ~$175M from $120M, including expected acquisition contribution.
Acquisition adds pathology services (GI, derm, heme, etc.), 1,300 clients, 2,700 physicians, 300M+ covered lives.
Transaction expected to contribute to core revenue and be accretive to pro forma EBITDA.

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