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MARKETS / NASDAQ / FLGT
NASDAQ · SERVICES-MEDICAL LABORATORIES · MID CAP

Fulgent Genetics, Inc. FLGT

12 fiscal years on record · USD · FY2025 reported · SEC filings only
$322.7M
▲ 13.8% YoY
$-60.5M
$-124.2M
In brief

What this company does

Fulgent Genetics, Inc. is a technology-based company that operates a laboratory services business and a therapeutic development business. Its laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Its therapeutic development business develops product candidates for treating a broad range of cancers using a nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The company operates five CLIA-certified and CAP-accredited laboratories across the United States. As of December 31, 2025, the company had 1,315 full-time employees in its laboratory services business and 29 full-time employees in its therapeutic development business. One customer accounted for $70.8 million, or 22% of total revenue, in 2025. The company was incorporated in Delaware on May 13, 2016, as the holding company for its subsidiaries, including Fulgent Therapeutics LLC, which was initially formed in June 2011.

Written from the business description in Fulgent Genetics, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 27 February 2026. Every sentence was checked against that document before publication.

Growth
USD 322.7M
Revenue, FY2025 · full 12-year series below
Revenue $M Net income $M
FY2025 · Revenue 322.7 · Net income -60.5
400M800M-80M-160M2014201620182020202220242025
Compound annual growth
−19.5%
−5.2%
+42.2%
−47.3%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at −5.2% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−19 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -28.2% · Net -19.1%
20%40%60%-100%-200%-300%2014201620182020202220242025
ROE
FY2025 · ROE -5.4%
20%40%60%-100%-200%2014201620182020202220242025

Each USD of equity lost 5 cents this year.

Cash & shareholders
USD 10.9M
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -124.2
200M400M-50M-100M2014201620182020202220242025
Net buybacks $M Dividends $M
FY2025 · Dividends — · Net buybacks 10.9
25.0M50.0M-100.0M-200.0M201920202022202320242025

USD 10.9M in buybacks went back to shareholders in a year without profit.

Total assetsUSD 1.2B
EquityUSD 1.1B
CashUSD 50.2M
Current ratio6.48×

Equity funds 92% of total assets.

The 12-year record
12 fiscal years
Every figure from documents filed with the SEC · USD
row low → row highnegative
Metric 202520242023202220212020201920182017201620152014
Revenue $B0.30.30.30.61.00.40.00.00.00.00.00.0
Operating income $B−0.1−0.1−0.20.20.70.3−0.0−0.0−0.00.0−0.0−0.0
EBITDA $B−0.1−0.0−0.20.20.70.30.0−0.0−0.0···
Income tax $B−0.0−0.00.00.00.20.10.00.0−0.00.00.00.0
Net income $B−0.1−0.0−0.20.10.50.2−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.1−0.00.00.20.50.10.0−0.0−0.00.0−0.0−0.0
EPS, diluted $············
Dividend / sh $············
Payout %············
ROE %−5.4−3.8−14.011.858.765.7−0.6−10.6−4.6−17.9−243.5−254.3
Shares out B0.030.030.030.030.030.030.020.020.020.02··

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 0 failures in 46 reconciliationsAUDITED

Reconciled in 12 of 19 fiscal years. 49 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente0 failures
ActivityServices-Medical Laboratories
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
Data on record since2014

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