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Jun 30, 2022
Fulgent Q2 2022 Earnings Report
Fulgent Genetics' financial performance declined due to decrease in COVID-19 testing revenue, while core revenue grew significantly.
Key Takeaways
Fulgent Genetics reported a revenue of $125.3 million for Q2 2022, a decrease from $153.6 million in Q2 2021. However, core revenue grew by 102% year-over-year to $45.3 million. GAAP income was $11.5 million, or $0.37 per share, and non-GAAP income was $24.3 million, or $0.78 per share.
Revenue totaled $125.3 million.
Core Revenue grew 102% year-over-year to $45.3 million.
GAAP income was $11.5 million, or $0.37 per share.
Non-GAAP income was $24.3 million, or $0.78 per share.
Revenue by Segment
Forward Guidance
For Q3 2022, Fulgent Genetics expects total revenue of approximately $105 million and core revenue of approximately $54 million, representing a growth of 101% year-over-year. For the full year 2022, the company expects total revenue of approximately $665 million, core revenue of approximately $185 million, and non-GAAP income of approximately $6.00 per share.
Positive Outlook
- Total Revenue of approximately $105 million
- Core Revenue of approximately $54 million, representing growth of 101% year-over-year
- Total Revenue of approximately $665 million for the full year
- Core Revenue of approximately $185 million for the full year
- Non-GAAP income of approximately $6.00 per share for the full year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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