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Sep 30, 2024
Fulgent Q3 2024 Earnings Report
Fulgent's Q3 2024 financial results were reported, showing core revenue growth and improved full-year EPS guidance.
Key Takeaways
Fulgent Genetics reported a total revenue of $71.7 million for Q3 2024, with core revenue growing 9% year-over-year. The company's GAAP loss was $14.6 million, or ($0.48) per share, while non-GAAP income was $9.4 million, or $0.31 per share. Fulgent is reiterating its full-year 2024 core revenue guidance of $280 million and improving its earnings per share guidance for 2024.
Total revenue reached $71.7 million.
Core revenue grew 9% year-over-year, reaching $71.7 million.
GAAP loss was reported at $14.6 million, or ($0.48) per share.
Non-GAAP income amounted to $9.4 million, or $0.31 per share.
Forward Guidance
For the full year 2024, Fulgent expects core revenue of approximately $280 million, GAAP loss improvement from approximately ($1.95) per share to approximately ($1.70) per share, non-GAAP loss improvement from approximately ($0.30) loss per share to approximately $0.33 income per share, and cash, cash equivalents, and investments in marketable securities of approximately $800 million as of December 31, 2024.
Positive Outlook
- Core Revenue of approximately $280 million
- GAAP loss improvement from approximately ($1.95) per share to approximately ($1.70) per share
- Non-GAAP loss improvement from approximately ($0.30) loss per share to approximately $0.33 income per share
- Cash, cash equivalents, and investments in marketable securities of approximately $800 million as of December 31, 2024
- Good momentum in business with Laboratory Services fueling initiatives
Challenges Ahead
- Cash expenditures may be higher or lower than currently estimated due to a variety of factors
- Ongoing stock repurchase program or other expenditures outside the ordinary course of business may affect cash
Historical Earnings Impact
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Avg. Return Before/After Earnings
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