Fulgent Genetics Q3 core revenue up 110% to $56M; acquires Fulgent Pharma for ~$100M

Fulgent Genetics, Inc.

Q3 revenue $105.7M (down 54% YoY due to COVID decline); GAAP EPS $0.06, non-GAAP EPS $0.32.
Core revenue (ex-COVID) grew 110% YoY to $56.0M; adjusted EBITDA $19.7M.
Acquired Fulgent Pharma for ~$100M (cash + stock), a clinical-stage therapeutics company with nano-drug delivery platform.
Lead candidate FID-007 for head & neck cancer; combined company offers vertically integrated oncology precision medicine.
Cash, cash equivalents and investments of $918.0M as of Sep 30, 2022.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Fulgent Genetics, Inc. reported third quarter ended September 30, 2022 results: revenue $105.7 million, net income $1.7 million, EPS $0.06 per share.

Period: third quarter ended September 30, 2022
Revenue: $105.7 million
Net income: $1.7 million
EPS: $0.06 per share
Result: reported results

Exact text from the filing

Exhibit 99.1 to this Current Report on Form 8-K. --- EX-99.1 (EX-99.1) --- EX-99.1 Exhibit 99.1 Fulgent Genetics Reports Third Quarter 2022 Financial Results • Revenue totals $105.7 million • Core Revenue grows 110% year-over-year to $56.0 million TEMPLE CITY, CA, November 7, 2022 —Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics”, “Fulgent”, or the

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Source: SEC EDGAR

accession 0000950170-22-022604

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