Fulgent Genetics Q2 core revenue rises 48% to $67M; raises FY2023 guidance to $260M

Fulgent Genetics, Inc.

Total revenue $68M; core revenue $67M, up 48% YoY.
GAAP net loss $11.2M ($0.38/share); Non-GAAP loss $2.4M ($0.08/share).
Adjusted EBITDA loss $2.7M; cash flow from operations $9.7M.
Raises full-year 2023 core revenue guidance to $260M, narrows expected loss.
Cash, cash equivalents, and investments $846.8M as of June 30, 2023.

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 second quarter ended June 30, 2023 results: revenue $68 million, net income GAAP loss of $11.2 million, or $0.38 per share, EPS $0.38 per share. Guidance raised.

Period: second quarter ended June 30, 2023
Revenue: $68 million
Net income: GAAP loss of $11.2 million, or $0.38 per share
EPS: $0.38 per share
Guidance: raised
Result: reported results

Exact text from the filing

X-99.1 Exhibit 99.1 Fulgent Reports Second Quarter 2023 Financial Results • Total Revenue of $68 million • Record Core Revenue of $67 million, growth of 48% year-over-year • Raises Full Year 2023 Core Revenue Guidance to $260 million and Narrows Expected Loss EL MONTE, CA, August 4, 2023 — Fulgent Genetics, Inc.

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Source: SEC EDGAR

accession 0000950170-23-038312

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