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Mar 31, 2021
Fulgent Q1 2021 Earnings Report
Fulgent Genetics had a record first quarter, driven by strong demand for COVID-19 testing and growth in NGS test volumes.
Key Takeaways
Fulgent Genetics reported record first quarter revenue of $359.4 million, a 4,500% increase year-over-year. The company's GAAP income was $200.7 million, or $6.52 per share, and non-GAAP income was $202.9 million, or $6.59 per share.
Record revenue of $359.4 million, growing more than 4,500% year-over-year.
Approximately 3.8 million billable tests were delivered, 290 times the volume of Q1 2020.
GAAP income of $200.7 million, or $6.52 per share was achieved.
Non-GAAP income of $202.9 million, or $6.59 per share was achieved.
Forward Guidance
Fulgent Genetics raises full year total revenue outlook to $830 million from $800 million, representing growth of 97% year over year. Expects GAAP income of approximately $12.00 per share; non-GAAP income of approximately $12.50 per share in 2021
Positive Outlook
- Full year total revenue outlook raised to $830 million from $800 million, representing growth of 97% year over year
- NGS revenue outlook raised to $100 million from $70 million, representing growth of 174% year over year
- Expects GAAP income of approximately $12.00 per share
- Expects non-GAAP income of approximately $12.50 per share in 2021
- Expects revenue of approximately $200 million for the second quarter of 2021
Historical Earnings Impact
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Avg. Return Before/After Earnings
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