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Dec 31, 2019
Fulgent Q4 2019 Earnings Report
Fulgent Genetics reported a 48% increase in revenue and a non-GAAP income for Q4 2019.
Key Takeaways
Fulgent Genetics announced its Q4 and Full Year 2019 financial results, with Q4 revenue reaching $8.4 million, a 48% increase year-over-year. The company reported a GAAP loss of $296,000, or $0.01 per share, and a non-GAAP income of $778,000, or $0.04 per share for the quarter.
Revenue totaled $8.4 million, growing 48% year over year.
Billable tests delivered totaled 13,977, growing 118% year over year.
Gross Margin improved more than 5 percentage points year over year and cost per test improved approximately 40% year over year.
Adjusted EBITDA was $1.1 million.
Forward Guidance
Fulgent Genetics will provide a formal update on its guidance regarding certain financial measures during its investment community conference call to shortly follow the issuance of this press release.
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