Fulgent Genetics (NASDAQ:FLGT) Issues Quarterly Earnings Results

Fulgent Genetics (NASDAQ:FLGT) issued its earnings results on Thursday. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12), FiscalAI reports. The company had revenue of $85.39 million during the quarter, compared to the consensus estimate of $94.00 million. Fulgent Genetics had a negative return on equity of 3.24% and a negative net margin of 23.04%. Fulgent Genetics updated its FY 2026 guidance to -2.350–2.220 EPS.

Here are the key takeaways from Fulgent Genetics’ conference call:

• Revenue-cycle management issues pressured results: Q2 revenue was $85.4 million, but delayed billing and lower collection rates reduced recognized revenue and pushed GAAP gross margin to 30.1%.
• Full-year guidance was reduced. Fulgent now expects 2026 revenue of $330 million–$340 million, versus prior guidance of $350 million, with non-GAAP EPS projected at a loss of $2.22–$2.35 and operating margin in the negative mid-20% range.
• The Bako Diagnostics and StrataDx acquisitions contributed $16.9 million in Q2 revenue and are expected to contribute approximately $53 million in the second half of 2026; management also cited successful integration and a significantly expanded anatomic pathology sales force.
• Revenue from Fulgent’s largest customer declined $4.6 million sequentially as the customer brings testing in-house, and management expects further declines in the second half, although it expects acquisition revenue to partially or fully offset the loss.
• Fulgent reported progress in its therapeutic pipeline, including encouraging Phase II FID-007 data, an FDA end-of-Phase-II meeting planned for later this summer, and a target to begin a Phase III registration trial in the first half of 2027; FID-022 also advanced through Phase I dose escalation.

Fulgent Genetics Stock Up 2.9%

FLGT stock traded up $0.57 during trading on Thursday, hitting $20.21. 259,193 shares of the company’s stock traded hands, compared to its average volume of 221,130. The firm has a market capitalization of $573.96 million, a P/E ratio of -8.46 and a beta of 0.89. Fulgent Genetics has a 1 year low of $13.46 and a 1 year high of $31.04. The business has a fifty day simple moving average of $19.32 and a two-hundred day simple moving average of $19.27.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FLGT shares. Wall Street Zen upgraded Fulgent Genetics from a “strong sell” rating to a “sell” rating in a report on Saturday, May 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Fulgent Genetics in a report on Monday, July 6th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $15.00 target price (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Fulgent Genetics presently has a consensus rating of “Hold” and an average price target of $27.00.

Insider Buying and Selling at Fulgent Genetics

In related news, insider Hanlin Gao sold 1,688 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $30,198.32. Following the sale, the insider owned 990,374 shares of the company’s stock, valued at $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the transaction, the chief operating officer owned 367,605 shares of the company’s stock, valued at $6,576,453.45. This represents a 0.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,980 shares of company stock worth $106,360 in the last ninety days. Insiders own 36.18% of the company’s stock.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Brevan Howard Capital Management LP acquired a new stake in shares of Fulgent Genetics in the 3rd quarter worth $509,000. Counterpoint Mutual Funds LLC purchased a new stake in Fulgent Genetics in the fourth quarter valued at about $506,000. Engineers Gate Manager LP raised its stake in Fulgent Genetics by 24.1% in the fourth quarter. Engineers Gate Manager LP now owns 16,994 shares of the company’s stock valued at $446,000 after buying an additional 3,299 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in Fulgent Genetics in the third quarter worth about $437,000. Finally, Legal & General Group Plc boosted its holdings in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after acquiring an additional 2,599 shares in the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

About Fulgent Genetics

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.