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Dec 31, 2020
Fulgent Q4 2020 Earnings Report
Fulgent Genetics reported record fourth quarter financial results driven by COVID-19 testing and growth in core business.
Key Takeaways
Fulgent Genetics reported a record fourth quarter with revenue of $295.0 million, an increase of 3,400% year-over-year. GAAP income was $166.3 million, or $6.16 per share, and non-GAAP income was $167.5 million, or $6.20 per share.
Record Revenue of $295.0 million, growing more than 3,400% year-over-year
Record Billable tests delivered approximately 3.2 million, approximately 230 times the volume of fourth quarter of 2019
Record GAAP income of $166.3 million, or $6.16 per share
Non-COVID Revenue grew 43% year-over-year
Forward Guidance
The company expects to generate revenue of at least $325.0 million for the first quarter of 2021. For the full year 2021, the company expects revenue of approximately $800.0 million, with approximately $70.0 million from NGS testing and GAAP income of approximately $380.0 million, or more than $12.00 per share, and non-GAAP income of approximately $12.50 per share.
Positive Outlook
- Expects overall revenue of approximately $800.0 million in 2021, representing growth of 90% year-over-year
- Anticipates $70.0 million of NGS testing revenues in 2021, representing 92% growth year-over-year
- Expects GAAP income of approximately $12.00 per share in 2021
- Expects non-GAAP income of approximately $12.50 per share in 2021
- Expects to drive strong gross and operating margins by leveraging the company’s proprietary technology platform
Historical Earnings Impact
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Avg. Return Before/After Earnings
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