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Sep 30, 2022
Fulgent Q3 2022 Earnings Report
Fulgent Genetics' financial performance declined due to decrease in COVID-19 testing revenue, but core revenue grew significantly.
Key Takeaways
Fulgent Genetics reported a revenue of $105.7 million for Q3 2022, a decrease compared to $227.9 million in Q3 2021. However, core revenue, excluding COVID-19 testing, grew 110% year-over-year to $56.0 million. The company reported a GAAP income of $1.7 million, or $0.06 per share, and a non-GAAP income of $9.8 million, or $0.32 per share.
Revenue totaled $105.7 million.
Core Revenue grew 110% year-over-year to $56.0 million.
GAAP income was $1.7 million, or $0.06 per share.
Non-GAAP income reached $9.8 million, or $0.32 per share.
Revenue by Segment
Forward Guidance
For the fourth quarter of 2022, Fulgent Genetics expects total revenue of approximately $60 million and core revenue of approximately $52 million, representing growth of 86% year-over-year.
Positive Outlook
- Total Revenue of approximately $60 million
- Core Revenue of approximately $52 million, representing growth of 86% year-over-year
Historical Earnings Impact
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Avg. Return Before/After Earnings
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