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Fulgent Genetics, Inc. (FLGT) stock

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NASDAQ: FLGT Nasdaq Life Sciences Tools & Services Next results ~November 5, 2026

C Fundamentals grade

Fulgent Genetics, Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: valuation models disagree too widely to rate.

Price vs value

Under review: valuation models disagree too widely to rate. We'll show the comparison once resolved.

Fulgent Genetics, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 2 selling0 purchases and 15 sales by directors and officers, last 12 monthsInsider trades
  • Funds60 adding, 90 cuttingOf 31 active managers that changed their stake, 18 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter Fulgent Genetics files

Where Fulgent Genetics stands after its latest 10-Q

Revenue for the twelve months to June 2026 was $324m, up 6.8% on a year earlier, slower than the 9.5% growth a quarter earlier. Free-cash-flow margin fell to -32.0% from -19.8% a year earlier. Operating margin narrowed to -37.7% from -24.0%. Against its peers on growth, profitability, cash generation and balance sheet, it grades D. It passes 5 of our 7 financial-health checks.

Our model value for Fulgent Genetics is under review, so past values are not shown until it is resolved.

Source: 10-Q filed July 30, 2026 on SEC EDGAR · Financials · Valuation

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

Next results ~November 5, 2026 (estimated)

Fulgent Genetics, Inc.'s trailing-twelve-month revenue grew 6.8% year on year, with a free-cash-flow margin of -32.0%. Where it stands out: long-term debt as % of assets of 0.1% ranks 4 of 35 life sciences tools & services companies we cover.

Current signal Gross margin compressing: TTM gross margin fell to 35.6%, down 4.5pp year over year.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

  • Shrinking share count. Diluted shares fell 1.5% in a year, so each share owns more of the business.

Things to watch

  • Results due soon. Results are expected around 6 November; the share price can move sharply on the day.
  • Loss-making. Operating margin is -37.7%: costs exceed revenue.
  • Margins narrowing. Operating margin is down 13.8 points on a year ago.
  • Burning cash. Free cash flow was -32.0% of revenue over the last 12 months.
  • Volatile shares. Over the past year the shares showed annualised volatility of 61% and a beta of 0.9 against the S&P 500.
  • Growth easing. The growth rate is 2.7 points lower than a quarter earlier.

Latest results: FY2026 Q2

Filed July 30, 2026
Earnings per share
-$0.58 against an average estimate of -$0.44: missed by 32.2%
Revenue
$85m, up 4.4% on a year earlier
Share reaction
-15.7% in the first session after the results on July 30, 2026, against +2.4% for the S&P 500
Guidance given
revenue $330m to $340m (full year 2026); non-GAAP loss $63m to $67m (full year 2026)
Next report
November 5, 2026; average EPS estimate -$0.65

Fulgent Genetics' figures from its SEC filings and results release; estimates are the analysts' average. Not a recommendation.

Price chart

  • 1 day-6.5%
  • 1 week-4.6%
  • 1 month-10.2%
  • This year-26.6%
  • 1 year-14.1%
  • 5 years-78.1%
  • S&P 500 this year+11.2%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$324M
Operating margin
-37.7%
Net margin
-26.0%
EPS (TTM, diluted)
$-2.80

Growth

Revenue growth
+6.8%
Change in growth rate
−2.7 pts
Share count change
−1.5%

Cash

Free cash flow (TTM)
-$104M
FCF margin
-32.0%
Stock pay % of revenue
11.6%

Earnings

Last results
July 30, 2026
Next results (est.)
November 6, 2026

News & updates

Updated October 31, 2026

Company announcements, filed results and changes that matter to shareholders.

  1. Results
  2. Guidance

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

Fulgent Genetics, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: valuation models disagree too widely to rate: held for review.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value Fulgent Genetics, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 8.4%: the 10-year Treasury yield (4.9%) plus a beta of 0.77 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$5.1 ~$4.2–$6.3 Primary model, counts double
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. ~$8.4 ~$4.5–$15 Included
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$16 ~$22–$78 Included, half weight
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare Fulgent Genetics, Inc. with Life Sciences Tools & Services in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Valuation multiples over time Market data may be delayed

At fiscal year end 2016201720182019202020212022202320242025Now
Share price$11.57$4.38$3.17$12.90$52.10$100.59$29.78$28.91$18.47$26.27$19.29
Market value$159m$78m$57m$241m$1.3bn$3.1bn$922m$861m$558m$809m$582m
+ Net debt (− = net cash)−$8m−$6m−$7m−$12m−$87m−$153m−$70m−$93m−$52m−$48m−$24m
Enterprise value$151m$71m$50m$229m$1.2bn$3.0bn$852m$768m$506m$761m$557m
Multiples
Price / sales 8.7x4.1x2.7x7.4x3.0x3.1x1.5x3.0x2.0x2.5x1.8x
Price / earnings ————5.8x6.1x6.4x————
Price / free cash flow n/m——55.7x11.9x6.1x3.9x179.5x———
EV / EBITDA 72.2x——136.6x4.0x4.3x4.0x————

Market value uses the period's diluted share count; figures for each fiscal year use that year's results and the price at year end. "Now" uses today's price and the last twelve months.

Moat

23 /100

Weak moat

How hard Fulgent Genetics's competitive advantage looks for rivals to wear away, judged from 10 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 0 / 20

    Cash operating profit has been a median 1.9% of total assets over 10 years.

  • Pricing power 9 / 20

    Gross margin has been a median 49.3%, moving by 13.8 percentage points (standard deviation) across 10 years.

  • Durability 10 / 20

    Operating margin has been a median -18.8%; its worst year was -65.9%.

  • Cash conversion 5 / 20

    Free cash flow was positive in 5 of 10 years, at a median 0.0% of revenue.

  • Discipline 5 / 20

    The diluted share count rose 6.4% over five years; stock-based pay has been a median 11.8% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (28 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Next results: November 5, 2026, after the close. Analysts expect revenue of $86m and EPS of −$0.65 (range −$0.65 to −$0.65) for the quarter.

Analysts' consensus

Fiscal yearEPSGrowthRevenueGrowth
Current −$2.27 −641% $332m +3%
Next −$1.38 +39% $383m +15%

How the EPS forecast has moved

In the last 30 days, 0 analysts raised Fulgent Genetics, Inc.'s forecast and 1 cut it.

Consensus EPS forecast Fulgent Genetics, Inc., last 90 days
−$3.00 −$2.00 −$1.00 $0.00 60 days ago 30 days ago 7 days ago Now Current fiscal year, 60 days ago: −$1.55 Current fiscal year, 30 days ago: −$1.55 Current fiscal year, 7 days ago: −$1.55 Current fiscal year, Now: −$2.27 −$2.27 Next fiscal year, 60 days ago: −$1.15 Next fiscal year, 30 days ago: −$1.15 Next fiscal year, 7 days ago: −$1.15 Next fiscal year, Now: −$1.38 −$1.38

Average of analysts' published estimates (third-party data).

View chart data
Period Current fiscal yearNext fiscal year
60 days ago −$1.55−$1.15
30 days ago −$1.55−$1.15
7 days ago −$1.55−$1.15
Now −$2.27−$1.38

Earnings against estimates

Quarter toEstimateActualSurprise
Jun 2026 −$0.44 −$0.58 −32.2%
Mar 2026 −$0.35 −$0.36 −3.4%
Dec 2025 $0.03 $0.16 +436.4%
Sept 2025 −$0.22 $0.14 +162.5%

Adjusted EPS as companies report it, against the average analyst estimate.

Management guidance

Earnings release, July 30, 2026
  • Revenue full year 2026 $330m to $340m Lowered
    “Revenue to be in the range of $330.0-$340.0 million” source
  • Non-GAAP loss per share full year 2026 $2.22 to $2.35 Non-GAAP
    “Non-GAAP loss of approximately $2.22-$2.35 per share, which includes the impact of a reduction of 4.1 million shares used for the stock repurchase program, year to date as of June 30, 2026” source
  • Non-GAAP loss full year 2026 $63m to $67m Non-GAAP
    “Non-GAAP loss of approximately $63.0-$67.0 million” source
  • Cash, cash equivalents, restricted cash, and investments in marketable securities full year 2026 about $610m
    “Cash, cash equivalents, restricted cash, and investments in marketable securities of approximately $610.0 million, which includes $63.9 million cash used for the stock repurchase program, year to date as of June 30, 2026*” source
  • Capital purchases full year 2026 about $12m
    “This number further assumes receipt of approximately $106.1 million in tax refunds prior to December 31, 2026, which have been delayed as a result of constrained resources at the IRS; and assumes capital purchases of $12 million, no further repurchases under the stock repurchase program, and spend on the therapeutic development business of $26 million.” source
  • Spend on the therapeutic development business full year 2026 about $26m
    “This number further assumes receipt of approximately $106.1 million in tax refunds prior to December 31, 2026, which have been delayed as a result of constrained resources at the IRS; and assumes capital purchases of $12 million, no further repurchases under the stock repurchase program, and spend on the therapeutic development business of $26 million.” source

Figures and quotations are management's, copied from the company's own press release (SEC 8-K exhibit) and checked word for word against it. Forward-looking statements are the company's expectations, not ours and not advice; guidance can change or be missed.

Analyst recommendations

1 analysts, Oct 2026
Buy00%
Hold1100%
Sell00%

Monthly trend

  1. Oct 202611
  2. Sep 202611

Counts of recommendations published by analysts covering Fulgent Genetics, Inc., by month. Source: Aggregated broker recommendations (third-party data). Aggregated counts only: we do not reproduce any firm's recommendation or price target, and these are not Fundamentalytics ratings.

Positioning

Short interest
12.4%
of tradable shares
Days to cover
6.84
at average volume
Short interest, 1 month
−8%
to October 15, 2026
Held by institutions
58%
of shares
Held by insiders
37.7%
of shares
Employees
1,315
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

What moved the share price

Last 12 months −14.1%

$22.45 on October 31, 2025 to $19.29

ThenNowEffect
Revenue (last 12 months) $303m $324m +6.8%
P/S multiple 2.3x 1.8x −20.8%
Share count 31m 30m +1.5%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

Last 3 years −28.4%

$26.94 on November 3, 2023 to $19.29

ThenNowEffect
Revenue (last 12 months) $307m $324m +5.4%
P/S multiple 2.6x 1.8x −32.1%
Share count 30m 30m +0.1%

Biggest factor: p/s multiple. Loss-making at one end, so the split uses price/sales.

The effects multiply back to the price change exactly. Results are the last 12 months as known on each date (filings assumed public 45 days after quarter end).

Return and risk by year

Calendar year 202120222023202420252026 to date
Return
FLGT+93%−70%−3%−36%+42%−27%
Industry peers (median)+4%−51%−3%−13%−7%+16%
S&P 500+29%−18%+26%+25%+18%+11%
Months that ended higher
FLGT42%33%42%25%50%46%
S&P 50075%42%67%75%75%46%
Largest fall from a high during the year
FLGT−64%−71%−42%−43%−21%−52%
S&P 500−5%−25%−10%−8%−19%−9%

Worst fall since September 29, 2016: 93% from February 9, 2021 to March 3, 2026. Getting back needed a 1233% gain, and the shares have not yet recovered.

Price behaviour

52-week range
$13.79 – $30.85
From 52-week high
−37.5%
vs 50-day average
−7.1%
vs 200-day average
−0.2%
Volatility (1 year)
61%
Beta vs S&P 500
0.90

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

Share price after results

Next day
6 up, 6 down
typical move ±11.6%
After a week
8 up, 4 down
typical move ±14.7%
After a month
6 up, 6 down
typical move ±15.4%
Results releasedNext dayS&P 500 next day5 days21 days
July 30, 2026 −15.7% +2.4% −5.5% −0.2%
May 1, 2026 −0.5% −0.1% +5.1% +23.1%
February 27, 2026 −42.6% −0.4% −40.9% −36.9%
November 7, 2025 +21.7% +1.7% +30.4% +23.1%
August 1, 2025 +6.9% −0.1% +18.5% +29.9%
May 2, 2025 +13.4% +0.9% +14.2% +22.7%
February 28, 2025 −2.6% −0.2% +18.5% +7.7%
November 8, 2024 −9.0% +0.5% −21.4% −8.1%
August 2, 2024 +0.4% −4.7% +1.5% −7.3%
May 3, 2024 +1.2% +2.3% +2.4% −2.2%
February 28, 2024 −11.5% +0.2% −8.4% −14.8%
November 3, 2023 +14.0% +1.1% +10.1% +9.1%

From the close before the release date to the close 1, 5 and 21 trading days after it, so releases before the open and after the close are both captured. Past moves don't predict future ones.

Fulgent Genetics, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) Fulgent Genetics, Inc.
$260M $280M $300M $320M $340M FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue (TTM), FY23 Q3: $286.4M Revenue (TTM), FY23 Q4: $289.2M Revenue (TTM), FY24 Q1: $287.5M Revenue (TTM), FY24 Q2: $290.7M Revenue (TTM), FY24 Q3: $277.8M Revenue (TTM), FY24 Q4: $283.5M Revenue (TTM), FY25 Q1: $292.4M Revenue (TTM), FY25 Q2: $303.2M Revenue (TTM), FY25 Q3: $315.5M Revenue (TTM), FY25 Q4: $322.7M Revenue (TTM), FY26 Q1: $320.3M Revenue (TTM), FY26 Q2: $323.9M $323.9M

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue (TTM)
FY23 Q3 $286.4M
FY23 Q4 $289.2M
FY24 Q1 $287.5M
FY24 Q2 $290.7M
FY24 Q3 $277.8M
FY24 Q4 $283.5M
FY25 Q1 $292.4M
FY25 Q2 $303.2M
FY25 Q3 $315.5M
FY25 Q4 $322.7M
FY26 Q1 $320.3M
FY26 Q2 $323.9M
Revenue growth, TTM YoY Fulgent Genetics, Inc.
-80% -60% -40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Revenue growth, TTM YoY, FY23 Q3: -64.3% Revenue growth, TTM YoY, FY23 Q4: -53.3% Revenue growth, TTM YoY, FY24 Q1: -21.2% Revenue growth, TTM YoY, FY24 Q2: -5.4% Revenue growth, TTM YoY, FY24 Q3: -3.0% Revenue growth, TTM YoY, FY24 Q4: -2.0% Revenue growth, TTM YoY, FY25 Q1: 1.7% Revenue growth, TTM YoY, FY25 Q2: 4.3% Revenue growth, TTM YoY, FY25 Q3: 13.6% Revenue growth, TTM YoY, FY25 Q4: 13.8% Revenue growth, TTM YoY, FY26 Q1: 9.5% Revenue growth, TTM YoY, FY26 Q2: 6.8% 6.8%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Revenue growth, TTM YoY
FY23 Q3 -64.3%
FY23 Q4 -53.3%
FY24 Q1 -21.2%
FY24 Q2 -5.4%
FY24 Q3 -3.0%
FY24 Q4 -2.0%
FY25 Q1 1.7%
FY25 Q2 4.3%
FY25 Q3 13.6%
FY25 Q4 13.8%
FY26 Q1 9.5%
FY26 Q2 6.8%
Operating margin (TTM) Fulgent Genetics, Inc.
-80% -60% -40% -20% 0% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 Operating margin (TTM), FY23 Q3: -28.3% Operating margin (TTM), FY23 Q4: -67.6% Operating margin (TTM), FY24 Q1: -67.0% Operating margin (TTM), FY24 Q2: -65.9% Operating margin (TTM), FY24 Q3: -75.2% Operating margin (TTM), FY24 Q4: -26.1% Operating margin (TTM), FY25 Q1: -24.6% Operating margin (TTM), FY25 Q2: -24.0% Operating margin (TTM), FY25 Q3: -22.5% Operating margin (TTM), FY25 Q4: -28.2% Operating margin (TTM), FY26 Q1: -33.1% Operating margin (TTM), FY26 Q2: -37.7% -37.7%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period Operating margin (TTM)
FY23 Q3 -28.3%
FY23 Q4 -67.6%
FY24 Q1 -67.0%
FY24 Q2 -65.9%
FY24 Q3 -75.2%
FY24 Q4 -26.1%
FY25 Q1 -24.6%
FY25 Q2 -24.0%
FY25 Q3 -22.5%
FY25 Q4 -28.2%
FY26 Q1 -33.1%
FY26 Q2 -37.7%
FCF margin (TTM) Fulgent Genetics, Inc.
-40% -20% 0% 20% FY23 Q3 FY24 Q2 FY25 Q1 FY26 Q2 FCF margin (TTM), FY23 Q3: 7.5% FCF margin (TTM), FY23 Q4: 1.7% FCF margin (TTM), FY24 Q1: 6.2% FCF margin (TTM), FY24 Q2: 4.0% FCF margin (TTM), FY24 Q3: -10.3% FCF margin (TTM), FY24 Q4: -6.8% FCF margin (TTM), FY25 Q1: -10.8% FCF margin (TTM), FY25 Q2: -19.8% FCF margin (TTM), FY25 Q3: -6.3% FCF margin (TTM), FY25 Q4: -38.5% FCF margin (TTM), FY26 Q1: -35.3% FCF margin (TTM), FY26 Q2: -32.0% -32.0%

Source: SEC EDGAR filings. Retrieved October 29, 2026.

View chart data
Period FCF margin (TTM)
FY23 Q3 7.5%
FY23 Q4 1.7%
FY24 Q1 6.2%
FY24 Q2 4.0%
FY24 Q3 -10.3%
FY24 Q4 -6.8%
FY25 Q1 -10.8%
FY25 Q2 -19.8%
FY25 Q3 -6.3%
FY25 Q4 -38.5%
FY26 Q1 -35.3%
FY26 Q2 -32.0%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 10-K, 10-Q. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2014 Dec 2014 2015 Dec 2015 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025 LTM Jun 2026
Income
Revenue 1 10 18 19 21 33 422 993 619 289 283 323 324
Gross profit 0 5 12 10 11 18 332 777 367 104 107 131 115
EBITDA −1 −4 2 −2 −3 2 293 687 211 −169 −49 −67 −101
Operating income −1 −5 1 −3 −5 −0 290 676 179 −196 −74 −91 −122
Net income −4 −8 −5 −3 −6 −0 214 507 143 −168 −43 −61 −84
Diluted EPS — — — — — — — — — — — — −$2.80
Growth (year on year)
Revenue — +649.3% +90.9% +2.5% +14.0% +52.3% +>999% +135.4% −37.6% −53.3% −2.0% +13.8% +6.8%
EBITDA — — — −184.0% — — +>999% +134.4% −69.3% −180.2% — — —
Operating income — — — −479.3% — — — +133.0% −73.6% −209.5% — — —
Net income — — — — — — — +136.7% −71.7% −217.0% — — —
Margins
Gross margin 26.8% 47.1% 63.2% 54.3% 49.9% 56.6% 78.7% 78.3% 59.3% 36.1% 37.8% 40.6% 35.6%
EBITDA margin −62.1% −46.3% 11.4% −9.4% −13.6% 5.2% 69.5% 69.2% 34.1% −58.6% −17.3% −20.8% −31.3%
Operating margin −77.5% −52.3% 5.0% −18.6% −23.7% −1.3% 68.8% 68.1% 28.8% −67.6% −26.1% −28.2% −37.7%
Net margin −335.1% −86.8% −29.3% −13.4% −26.3% −1.3% 50.8% 51.1% 23.2% −58.0% −15.1% −18.8% −26.0%
Free-cash-flow margin −401.3% −32.0% 3.4% −8.4% −14.0% 13.3% 25.0% 51.9% 37.9% 1.7% −6.8% −38.5% −32.0%
Cash flow
Cash from operations −4 −1 4 1 −1 6 141 539 254 27 21 −102 −84
Capital spending 1 2 4 3 2 1 35 24 19 22 40 23 20
Free cash flow −5 −3 1 −2 −3 4 105 515 235 5 −19 −124 −104
Stock-based pay — 8 5 2 2 3 8 16 33 43 44 40 38
Free cash flow after stock pay — −11 −4 −4 −5 1 97 499 202 −38 −64 −164 −141
Balance sheet
Cash — 0 8 6 7 12 87 165 80 97 55 50 26
Total debt — 0 0 0 0 0 0 12 9 4 3 2 2
Net debt (negative = net cash) — −0 −8 −6 −7 −12 −87 −153 −70 −93 −52 −48 −24
Diluted shares — 12m 14m 18m 18m 19m 24m 31m 31m 30m 30m 31m 30m
Returned to shareholders
Buybacks — — 12 — — 0 0 — 74 25 0 11 64
Total returned — — 12 — — 0 0 — 74 25 0 11 64

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

5 of 7 checks passed · June 30, 2026
What it owns · $1.1bn
Short-term assets $455mLonger-term assets $634m
What it owes, and who funded it · $1.1bn
Short-term liabilities $72mLonger-term liabilities $21mShareholders' equity $1.0bn
  • Short-term assets cover short-term liabilities $455m of assets due within a year against $72m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $455m short-term assets against $21m of longer-dated liabilities.
  • More cash than debt $26m of cash against $1m of debt.
  • Debt below 40% of shareholders' equity Debt is 0% of equity.
  • Debt burden no higher than five years ago Debt to equity moved from 1% to 0% over five years.
  • A year's operating cash flow covers at least 20% of debt −$84m of operating cash flow against $1m of debt.
  • Operating profit covers interest at least five times over Operating income of −$122m against $120,000 of interest.

From Fulgent Genetics, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

FY2026 Q2 TTM
Buybacks (TTM)
$63.9M
Returned to shareholders
-62%
of free cash flow
Buybacks, last 3 fiscal years
$36.2M
Diluted share count
−1.5%
year over year
Total shareholder yield
12.0%
dividends 0.0% + buybacks 12.0% of market value
R&D spending
17.5%
of revenue
Days sales outstanding
73 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in life sciences tools & services
Last 12 months unless stated FLGT CSTL SDGR MLAB TWST MRVI Median
Revenue, last 12 months $324m $357m $259m $250m $432m $209m $229m
Revenue growth, last 12 months 6.8% 3.2% 8.9% 3.0% 19.2% −5.0% 6.9%
Revenue growth, 3-year average 1.8% 28.7% 10.2% 4.4% 22.4% −27.3% 2.9%
Revenue growth, latest quarter 4.4% 20.1% 7.5% 1.0% 23.2% 8.5% 8.5%
Gross margin 35.6% 77.3% 56.9% 64.2% 52.0% 34.9% 51.9%
Operating margin −37.7% −9.0% −59.2% 9.0% −33.6% −56.1% −14.3%
Operating margin, 3-year average −42.5% −7.0% −81.0% −34.7% −50.8% −73.7% −22.4%
Net margin −26.0% −5.4% −21.0% 1.9% −31.7% −37.1% −16.1%
Cash from operations / revenue −25.8% 11.9% −49.0% 22.3% −12.3% −12.1% 1.3%
Free-cash-flow margin −32.0% −0.1% −50.3% 21.2% −21.6% −17.2% −2.2%
Free-cash-flow margin, 3-year average −15.9% 5.6% −45.4% 17.9% −22.0% −14.3% 0.6%
Stock pay / revenue 11.6% 12.6% 14.9% 6.5% 15.4% 14.3% 4.4%
Change in share count −1.5% −0.7% 1.7% 3.0% 2.4% 2.3% 1.0%

Median of all 54 companies we cover in life sciences tools & services. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

54 life sciences tools & services companies
Measure Company Peer median Rank
Revenue growth Growth 6.8% 6.9% 28 of 54
Change in growth rate Growth -2.7pp +0.4pp 43 of 54
Gross margin Profitability 35.6% 52.0% 34 of 45
Operating margin Profitability -37.7% -14.3% 35 of 52
Net margin Profitability -26.0% -12.2% 31 of 54
Free-cash-flow margin Cash generation -32.0% -1.3% 41 of 54
Stock pay as % of revenue Cash generation 11.6% 4.4% 35 of 53
Long-term debt as % of assets Balance sheet 0.1% 26.3% 4 of 35
Change in share count Balance sheet -1.5% 1.0% 13 of 46
Days sales outstanding Balance sheet 73 days 62 days 37 of 48

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Where the revenue comes from

Fiscal year to December 31, 2025
Segments
Line of business Revenue Share YoY
Laboratory Services $322M 99.9% ▲ 13.7%
Therapeutic Development $447,000 0.1% —
Geography
Region Revenue Share YoY
United States $297M 91.9% ▲ 14.4%
Outside the US $26.1M 8.1% ▲ 7.3%
Other Countries $13.2M 50.6% ▲ 12.9%
China $12.9M 49.4% ▲ 2.1%

From Fulgent Genetics, Inc.'s 10-K filed February 27, 2026, as tagged in the filing. View filing. Indented rows are part of the line above; their share is of that line. In the bars, the faint bar behind is the year before.

Who owns it

Funds buying and selling
Reported value
$322M
Institutions reporting
141
Shares held vs prior quarter
▼ 10.2%
Positions opened / closed
20 / 36

Top buyers and sellers, Q2 2026: 60 institutions bought and 90 sold ; the biggest buyer was Jacobs Levy Equity Management, Inc (+426K shares) and the biggest seller RTW Investments, LP (−1.3M). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Blackrock, Inc. $46.9M 2.3M 14.6% ▼ 17.6%
Acadian Asset Management LLC $20.9M 1.0M 6.5% ▼ 17.5%
Vanguard Capital Management LLC $16.2M 789K 5.0% ▼ 10.3%
Jacobs Levy Equity Management, Inc $16M 782K 5.0% ▲ 119.5%
Jpmorgan Chase & Co $15.5M 757K 4.8% ▲ 64.3%
Diametric Capital, LP $14.3M 698K 4.4% ▲ 93.3%
Ameriprise Financial Inc $13.8M 670K 4.3% ▲ 18.9%
Dimensional Fund Advisors LP $12.8M 625K 4.0% ▼ 6.9%
Geode Capital Management, LLC $10.7M 521K 3.3% ▼ 10.8%
State Street Corp $10.2M 499K 3.2% ▼ 5.8%
Invenomic Capital Management LP $10.2M 498K 3.2% ▼ 18.4%
Two Sigma Investments, LP $8.2M 401K 2.6% ▲ 24.5%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not Fulgent Genetics, Inc.'s complete shareholder register. Values are as reported by the filers ; 1 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $677,628 15 trades by 2 insiders · 0% under pre-set plans
Net ▼ $677,628 net selling
Insider Date Trade Shares Price Value
Xie Jian President and COO September 2, 2026 Sell 2,127 $19.66 $41,817
Gao Hanlin Chief Scientific Officer September 2, 2026 Sell 1,673 $19.66 $32,891
Gao Hanlin Chief Scientific Officer August 27, 2026 Sell 939 $19.91 $18,695
Xie Jian President and COO August 27, 2026 Sell 1,193 $19.91 $23,753
Gao Hanlin Chief Scientific Officer June 2, 2026 Sell 1,688 $17.89 $30,198
Xie Jian President and COO June 2, 2026 Sell 2,146 $17.89 $38,392
Gao Hanlin Chief Scientific Officer May 27, 2026 Sell 945 $17.60 $16,632
Xie Jian President and COO May 27, 2026 Sell 1,201 $17.60 $21,138
Gao Hanlin Chief Scientific Officer December 2, 2025 Sell 1,075 $28.33 $30,455
Xie Jian President and COO December 2, 2025 Sell 1,140 $28.33 $32,296
Gao Hanlin Chief Scientific Officer November 28, 2025 Sell 943 $29.57 $27,885
Xie Jian President and COO November 28, 2025 Sell 1,198 $29.57 $35,425

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Next expected around November 6, 2026 estimated from the company's past filing pattern, not announced

  • July 30, 2026
  • May 1, 2026
  • February 27, 2026
  • November 7, 2025
  • August 1, 2025
  • May 2, 2025

Recent SEC filings

Data status

When each part of this page on Fulgent Genetics, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
Financial statementsSEC 10-K and 10-Q filings
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

Fulgent Genetics, Inc. in brief

What does Fulgent Genetics, Inc. do?
Fulgent Genetics, Inc. is a US-listed company in the life sciences tools & services industry. Its financial year ends in December.
What is Fulgent Genetics, Inc.'s stock ticker?
Fulgent Genetics, Inc. trades under the ticker FLGT on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is Fulgent Genetics, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, Fulgent Genetics, Inc. reported revenue of $324M, 6.8% higher than a year earlier, according to its SEC filings.
What is Fulgent Genetics, Inc.'s free cash flow?
Fulgent Genetics, Inc.'s free-cash-flow margin is -32.0% of revenue over the trailing twelve months, ranking 41 of the 54 life sciences tools & services companies we cover.
Who are Fulgent Genetics, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Blackrock, Inc., Acadian Asset Management LLC and Vanguard Capital Management LLC. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Is Fulgent Genetics, Inc. buying back stock, and does it pay a dividend?
Fulgent Genetics, Inc. spent $63.9M on share repurchases over the trailing twelve months, and its diluted share count fell 1.5% over the year.
What is Fulgent Genetics, Inc.'s market cap?
On November 2, 2026, Fulgent Genetics, Inc.'s market capitalisation was about $582M and net debt of -$24.3M. Market figures come from third-party market data and may be delayed.
How much debt does Fulgent Genetics, Inc. have?
Fulgent Genetics, Inc.'s debt-to-equity ratio is 0.1%, from its latest balance sheet (0.5% five years earlier). The financial health section below sets out its other solvency checks.
Who are Fulgent Genetics, Inc.'s competitors?
In our Life Sciences Tools & Services peer group, the companies closest to Fulgent Genetics, Inc. are Castle Biosciences Inc, Schrodinger, Inc., Mesa Laboratories Inc, Twist Bioscience Corp and Maravai Lifesciences Holdings, Inc. The side-by-side comparison below sets their revenue, margins and growth against Fulgent Genetics, Inc.'s.
Are insiders buying or selling Fulgent Genetics, Inc. stock?
Over the last 12 months, Fulgent Genetics, Inc.'s directors and officers reported 0 open-market purchases and 15 sales on Form 4. The insider trading page charts every trade.
When is Fulgent Genetics, Inc.'s next earnings date?
Around November 5, 2026, estimated from the spacing of its past results announcements (8-K filings). That is an estimate, not a confirmed date — Fulgent Genetics, Inc. announces its own schedule.