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Mar 31, 2023
Fulgent Q1 2023 Earnings Report
Fulgent Genetics reported a loss in Q1 2023, but core revenue grew significantly.
Key Takeaways
Fulgent Genetics reported a GAAP loss of $15.3 million, or $0.52 per share, and a non-GAAP loss of $6.5 million, or $0.22 per share. However, core revenue grew 150% year-over-year to $62.7 million, and total revenue was $66.2 million. The company raised its full-year 2023 core revenue guidance to $250 million.
Total revenue was $66.2 million.
Core revenue grew 150% year-over-year to $62.7 million.
GAAP loss was $15.3 million, or $0.52 per share.
Non-GAAP loss was $6.5 million, or $0.22 per share.
Revenue by Segment
Forward Guidance
Fulgent expects core revenue of approximately $62 million for the second quarter of 2023 and now expects core revenue of approximately $250 million for the full year 2023. The company also expects a GAAP loss of approximately $2.50 per share and a non-GAAP loss of approximately $1.25 per share for the full year 2023.
Positive Outlook
- Core Revenue of approximately $62 million for Q2 2023
- Core Revenue of approximately $250 million for full year 2023
Challenges Ahead
- GAAP loss of approximately $2.50 per share for full year 2023
- Non-GAAP loss of approximately $1.25 per share for full year 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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