secwatch.observer — SEC 8-K summary
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Issuer:     Fulgent Genetics, Inc. (FLGT)
CIK:        0001674930
Form:       8-K
Filed at:   2022-05-03T23:59:59+00:00
Accession:  0000950170-22-007059
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fulgent Genetics Q1 revenue $320.3M, core revenue up 59%, raises FY outlook to $660M
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- Revenue $320.3M (down from $359.4M Q1 2021); GAAP net income $154M ($4.93/share).
- Core revenue ex-COVID NGS $25.1M (+59% YoY); billable tests ~3.2M vs 3.8M.
- Non-GAAP net income $158.7M ($5.08/share); Adjusted EBITDA $213.5M.
- Raises FY 2022 revenue outlook to $660M from $600M; core revenue outlook to $180M from $175M.
- Cash & investments $1.1B at March 31; closed $170M acquisition of Inform Diagnostics on April 26.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1674930/000095017022007059/0000950170-22-007059-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1674930/000095017022007059/flgt-20220503.htm
  HTML page:      https://secwatch.observer/filing/0000950170-22-007059

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer