Fulgent Genetics, Inc. income statement
In fiscal 2025, Fulgent Genetics, Inc. reported revenue of $323m, up 13.8% on the year before, operating income of −$91.1m (a -28.2% margin) and net income of −$60.5m. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2014Dec 2014 | 2015Dec 2015 | 2016Dec 2016 | 2017Dec 2017 | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 1 | 10 | 18 | 19 | 21 | 33 | 422 | 993 | 619 | 289 | 283 | 323 | 324 |
| Cost of revenue | 1 | 5 | 7 | 9 | 11 | 14 | 90 | 216 | 252 | 185 | 176 | 192 | 209 |
| Gross profit | 0 | 5 | 12 | 10 | 11 | 18 | 332 | 777 | 367 | 104 | 107 | 131 | 115 |
| Research and development | 1 | 4 | 4 | 4 | 6 | 7 | 12 | 24 | 29 | 41 | 49 | 54 | 57 |
| Selling and marketing | 1 | 3 | 2 | 4 | 5 | 6 | 15 | 24 | 39 | 41 | 36 | 43 | 50 |
| General and administrative | 0 | 2 | 5 | 5 | 6 | 6 | 15 | 51 | 111 | 89 | 88 | 117 | 120 |
| Operating income | −1 | −5 | 1 | −3 | −5 | −0 | 290 | 676 | 179 | −196 | −74 | −91 | −122 |
| Interest expense | — | — | — | — | — | — | 0 | 0 | 0 | 0 | −0 | 0 | 0 |
| Income before tax | −1 | −5 | −4 | −3 | −5 | 0 | 292 | 677 | 184 | −174 | −52 | −70 | −92 |
| Income tax | 0 | 0 | 1 | −1 | 0 | 0 | 73 | 175 | 42 | 1 | −8 | −8 | −7 |
| Net income | −4 | −8 | −5 | −3 | −6 | −0 | 214 | 507 | 143 | −168 | −43 | −61 | −84 |
| Diluted EPS | — | — | — | — | — | — | — | — | — | — | — | — | −$2.80 |
| Diluted shares (average) | — | 12m | 14m | 18m | 18m | 19m | 24m | 31m | 31m | 30m | 30m | 31m | 30m |
| EBITDA | −1 | −4 | 2 | −2 | −3 | 2 | 293 | 687 | 211 | −169 | −49 | −67 | −101 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 72 | 76 | 73 | 82 | 84 | 83 | 71 | 85 |
| Cost of revenue | 45 | 44 | 45 | 47 | 49 | 51 | 50 | 60 |
| Gross profit | 27 | 32 | 28 | 34 | 36 | 33 | 21 | 26 |
| Research and development | 12 | 12 | 12 | 13 | 14 | 14 | 14 | 15 |
| Selling and marketing | 9 | 10 | 8 | 12 | 12 | 11 | 12 | 15 |
| General and administrative | 21 | 24 | 25 | 26 | 23 | 42 | 28 | 27 |
| Operating income | −17 | −16 | −20 | −20 | −15 | −36 | −35 | −36 |
| Interest expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income before tax | −19 | −8 | −12 | −22 | −8 | −29 | −26 | −30 |
| Income tax | −4 | −2 | 0 | −2 | −1 | −6 | −1 | 0 |
| Net income | −15 | −6 | −12 | −19 | −7 | −23 | −25 | −30 |
| EBITDA | −11 | −10 | −14 | −16 | −11 | −30 | −29 | −31 |
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