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Dec 31, 2022
Fulgent Q4 2022 Earnings Report
Fulgent's financial performance declined in Q4 2022 due to decreased revenue, but core revenue grew. The company is transitioning into a fully integrated precision medicine company.
Key Takeaways
Fulgent Genetics reported a decline in total revenue for Q4 2022, with a GAAP loss of $23.8 million and a non-GAAP loss of $14.2 million. However, core revenue grew by 97% year-over-year. The company is focused on transforming into a precision medicine company.
Total revenue for Q4 2022 was $67.7 million.
Core revenue grew 97% year-over-year to $55.0 million.
GAAP loss was $23.8 million, or $0.80 per share.
Non-GAAP loss was $14.2 million, or $0.48 per share.
Revenue by Segment
Forward Guidance
For the first quarter of 2023, Fulgent expects total revenue of approximately $56.0 million. For the full year 2023, Fulgent expects total revenue of approximately $240.0 million, GAAP loss of approximately $2.50 per share, and non-GAAP loss of approximately $1.25 per share.
Positive Outlook
- Total Revenue of approximately $56.0 million for Q1 2023
- Total Revenue of approximately $240.0 million for FY 2023
Challenges Ahead
- GAAP loss of approximately $2.50 per share for FY 2023
- Non-GAAP loss of approximately $1.25 per share for FY 2023
Historical Earnings Impact
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Avg. Return Before/After Earnings
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