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Jun 30, 2021
Fulgent Q2 2021 Earnings Report
Reported a strong second quarter with substantial revenue growth and strategic expansions.
Key Takeaways
Fulgent Genetics reported a remarkable 790% year-over-year revenue increase, reaching $153.6 million, driven by growth in both core NGS business and COVID-19 testing. The company expanded its platform capabilities and reach through acquisitions and strategic agreements.
Revenue increased by 790% year-over-year to $153.6 million.
Core Revenue grew by 296% year-over-year to $25.7 million.
GAAP income was $79.8 million, or $2.59 per share.
Acquired CSI Laboratories and entered into a commercial agreement with Helio Health.
Revenue by Segment
Forward Guidance
For Q3 2021, Fulgent expects total revenue in the range of $125 to $150 million, representing 35% year-over-year growth at the midpoint, and core revenue of approximately $32 million, representing 213% year-over-year growth.
Positive Outlook
- Total Revenue in the range of $125 to $150 million, representing growth of 35% year over year at the midpoint
- Core Revenue of approximately $32 million, representing growth of 213% year over year
- Total Revenue of approximately $800 million, representing growth of 90% year over year
- Core Revenue of approximately $110 million versus previous guidance of $100 million, representing growth of 201% year over year
- GAAP income of approximately $12.00 per share
Historical Earnings Impact
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Avg. Return Before/After Earnings
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