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Mar 31, 2022
Fulgent Q1 2022 Earnings Report
Fulgent Genetics reported first quarter results exceeding expectations for both core revenue and COVID-19 revenue.
Key Takeaways
Fulgent Genetics reported a revenue of $320.3 million for Q1 2022, with core revenue excluding COVID-19 NGS testing growing 59% year-over-year to $25.1 million. The company has raised its full-year revenue outlook to $660 million and core revenue outlook to $180 million.
Revenue totaled $320.3 million.
Core Revenue excluding COVID-19 NGS testing grew 59% year-over-year to $25.1 million.
Full year revenue outlook raised to $660 million from previously announced $600 million.
Full year core revenue outlook raised to $180 million from previously announced $175 million.
Revenue by Segment
Forward Guidance
For the second quarter of 2022, Fulgent Genetics expects total revenue of approximately $125 million and core revenue of approximately $40 million, representing growth of 78% year-over-year. For the full year 2022, the company now expects total revenue of approximately $660 million and core revenue of approximately $180 million, with Non-GAAP income of approximately $6.00 per share.
Positive Outlook
- Total Revenue of approximately $125 million for Q2 2022.
- Core Revenue of approximately $40 million for Q2 2022, representing growth of 78% year-over-year.
- Total Revenue of approximately $660 million for the full year 2022.
- Core Revenue of approximately $180 million for the full year 2022.
- Non-GAAP income of approximately $6.00 per share for the full year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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