Fulgent Genetics (NASDAQ:FLGT – Get Free Report) announced its earnings results on Thursday. The company reported ($0.58) EPS for the quarter, missing analysts’ consensus estimates of ($0.46) by ($0.12), FiscalAI reports. The firm 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 26.05% and a negative return on equity of 4.82%. 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 Trading Down 18.1%
NASDAQ FLGT traded down $3.66 on Friday, reaching $16.55. 1,319,771 shares of the company were exchanged, compared to its average volume of 225,790. The business’s fifty day moving average price is $19.31 and its 200 day moving average price is $19.25. The stock has a market capitalization of $470.04 million, a P/E ratio of -5.87 and a beta of 0.89. Fulgent Genetics has a fifty-two week low of $13.46 and a fifty-two week high of $31.04.
Analyst Ratings Changes
View Our Latest Research Report on FLGT
Insider Buying and Selling at Fulgent Genetics
In other news, insider Hanlin Gao sold 1,688 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total transaction of $30,198.32. Following the transaction, the insider owned 990,374 shares of the company’s stock, valued at approximately $17,717,790.86. The trade was a 0.17% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $17.89, for a total transaction of $38,391.94. Following the sale, the chief operating officer owned 367,605 shares of the company’s stock, valued at approximately $6,576,453.45. The trade was a 0.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 5,980 shares of company stock valued at $106,360. 36.18% of the stock is owned by company insiders.
Hedge Funds Weigh In On Fulgent Genetics
Institutional investors and hedge funds have recently bought and sold shares of the company. XTX Topco Ltd increased its holdings in shares of Fulgent Genetics by 33.1% during the 4th quarter. XTX Topco Ltd now owns 22,195 shares of the company’s stock worth $583,000 after buying an additional 5,523 shares during the last quarter. Brevan Howard Capital Management LP acquired a new position in Fulgent Genetics in the third quarter valued at approximately $509,000. Engineers Gate Manager LP lifted its holdings in Fulgent Genetics by 24.1% in the fourth quarter. Engineers Gate Manager LP now owns 16,994 shares of the company’s stock valued at $446,000 after acquiring an additional 3,299 shares during the last quarter. Boothbay Fund Management LLC purchased a new position in Fulgent Genetics in the third quarter worth approximately $437,000. Finally, Legal & General Group Plc grew its position in Fulgent Genetics by 14.1% in the second quarter. Legal & General Group Plc now owns 21,025 shares of the company’s stock worth $418,000 after acquiring an additional 2,599 shares during the period. 48.06% of the stock is currently owned by institutional investors and hedge funds.
More Fulgent Genetics News
Here are the key news stories impacting Fulgent Genetics this week:
- Positive Sentiment: Second-quarter revenue rose 4.4% year over year to $85.4 million, supported by Fulgent’s laboratory services and therapeutic development businesses. The company also reported approximately $6.9 million in government award payments over the past year, primarily related to genetic testing services for the Veterans Health Administration. Fulgent Reports Second Quarter 2026 Financial Results
- Neutral Sentiment: Institutional positioning was mixed in the latest reported quarter, with 68 investors adding FLGT shares and 92 reducing holdings. Recent government contracts and portfolio changes may provide longer-term signals but are less important to the immediate earnings reaction. Fulgent Genetics Q2 2026 Earnings
- Negative Sentiment: Fulgent reported a non-GAAP loss of $0.58 per share, versus the $0.46 loss analysts expected, while revenue of $85.4 million missed the $94.0 million consensus estimate. On a GAAP basis, the net loss was $29.5 million, or $1.05 per share, compared with a profit a year earlier. Fulgent Genetics Reports Q2 Loss, Misses Revenue Estimates
- Negative Sentiment: Profitability and cash generation deteriorated: gross profit fell to $25.7 million, operating loss widened to $36.1 million, operating cash flow was negative $23.8 million, and cash and equivalents declined to $26.3 million. Fulgent Genetics Q2 2026 Earnings
- Negative Sentiment: Management lowered fiscal 2026 guidance to revenue of $330 million-$340 million, below the $351.2 million consensus, and EPS of negative $2.35 to negative $2.22, worse than the expected negative $1.82. The weaker outlook reinforces concerns about sustained losses and margin pressure. Fulgent Genetics Q2 2026 Earnings Call Transcript
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.
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