Fulgent Genetics (NASDAQ:FLGT) Releases Quarterly Earnings Results, Misses Estimates By $0.12 EPS

Fulgent Genetics (NASDAQ:FLGT) posted its quarterly earnings data on Thursday. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.46) by ($0.12), FiscalAI reports. The company had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. Fulgent Genetics had a negative net margin of 23.04% and a negative return on equity of 3.24%. Fulgent Genetics updated its FY 2026 guidance to -2.350–2.220 EPS.

Here are the key takeaways from Fulgent Genetics’ conference call:

• Revenue-cycle management issues pressured results: Q2 revenue was $85.4 million, but delayed billing and lower collection rates reduced recognized revenue and pushed GAAP gross margin to 30.1%.
• Full-year guidance was reduced. Fulgent now expects 2026 revenue of $330 million–$340 million, versus prior guidance of $350 million, with non-GAAP EPS projected at a loss of $2.22–$2.35 and operating margin in the negative mid-20% range.
• The Bako Diagnostics and StrataDx acquisitions contributed $16.9 million in Q2 revenue and are expected to contribute approximately $53 million in the second half of 2026; management also cited successful integration and a significantly expanded anatomic pathology sales force.
• Revenue from Fulgent’s largest customer declined $4.6 million sequentially as the customer brings testing in-house, and management expects further declines in the second half, although it expects acquisition revenue to partially or fully offset the loss.
• Fulgent reported progress in its therapeutic pipeline, including encouraging Phase II FID-007 data, an FDA end-of-Phase-II meeting planned for later this summer, and a target to begin a Phase III registration trial in the first half of 2027; FID-022 also advanced through Phase I dose escalation.

Fulgent Genetics Stock Up 2.9%

Shares of Fulgent Genetics stock traded up $0.57 on Thursday, reaching $20.21. 259,193 shares of the stock were exchanged, compared to its average volume of 221,130. Fulgent Genetics has a twelve month low of $13.46 and a twelve month high of $31.04. The firm has a market capitalization of $573.96 million, a price-to-earnings ratio of -8.46 and a beta of 0.89. The business has a 50 day moving average price of $19.32 and a two-hundred day moving average price of $19.27.

Insider Buying and Selling

In other Fulgent Genetics news, COO Jian Xie sold 2,146 shares of Fulgent Genetics stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $38,391.94. Following the completion of the sale, the chief operating officer directly owned 367,605 shares in the company, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Hanlin Gao sold 1,688 shares of the company’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the completion of the sale, the insider directly owned 990,374 shares in the company, valued at $17,717,790.86. This trade represents a 0.17% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 5,980 shares of company stock valued at $106,360 over the last three months. 36.18% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Fulgent Genetics

Hedge funds have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC purchased a new position in shares of Fulgent Genetics during the 4th quarter valued at about $801,000. Alps Advisors Inc. boosted its stake in shares of Fulgent Genetics by 74.6% in the fourth quarter. Alps Advisors Inc. now owns 25,386 shares of the company’s stock worth $667,000 after buying an additional 10,847 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Fulgent Genetics by 2.4% in the second quarter. Rhumbline Advisers now owns 33,139 shares of the company’s stock worth $659,000 after buying an additional 785 shares during the last quarter. XTX Topco Ltd grew its holdings in Fulgent Genetics by 33.1% during the fourth quarter. XTX Topco Ltd now owns 22,195 shares of the company’s stock worth $583,000 after acquiring an additional 5,523 shares during the period. Finally, Brevan Howard Capital Management LP acquired a new stake in Fulgent Genetics during the third quarter worth about $509,000. 48.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Wall Street Zen raised shares of Fulgent Genetics from a “strong sell” rating to a “sell” rating in a research report on Saturday, May 30th. Piper Sandler reaffirmed a “neutral” rating and issued a $15.00 price target (down from $30.00) on shares of Fulgent Genetics in a report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of Fulgent Genetics in a research note on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $27.00.

Fulgent Genetics Company Profile

Fulgent Genetics, Inc (NASDAQ: FLGT) is a California-based company specializing in high-complexity genetic testing and diagnostic services. Operating from its headquarters in Temple City, Fulgent leverages next-generation sequencing (NGS) technologies and advanced bioinformatics to deliver a broad range of clinical and research assays. The company’s infrastructure includes CAP- and CLIA-certified laboratories, enabling it to process large volumes of samples with rapid turnaround times.

Fulgent’s product portfolio encompasses hereditary cancer panels, rare disease and neuromuscular disorder testing, pharmacogenomic screenings, non-invasive prenatal tests, and infectious disease assays including COVID-19 diagnostics.