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

Fulgent Genetics (NASDAQ:FLGT) posted its earnings results 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. Fulgent Genetics had a negative return on equity of 3.24% and a negative net margin of 23.04%.The business had revenue of $85.39 million for the quarter, compared to analyst estimates of $94.00 million. 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 Down 14.6%

FLGT stock traded down $2.94 during midday trading on Friday, hitting $17.27. The company’s stock had a trading volume of 785,972 shares, compared to its average volume of 453,072. Fulgent Genetics has a 52-week low of $13.46 and a 52-week high of $31.04. The firm has a market capitalization of $490.33 million, a P/E ratio of -7.21 and a beta of 0.89. The firm has a 50-day simple moving average of $19.32 and a 200-day simple moving average of $19.27.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Fulgent Genetics

In other news, COO Jian Xie sold 2,146 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $38,391.94. Following the sale, the chief operating officer directly owned 367,605 shares in the company, valued at approximately $6,576,453.45. This trade represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $17.89, for a total value of $30,198.32. Following the completion of the transaction, 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 position. 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 Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Kestra Advisory Services LLC purchased a new stake in Fulgent Genetics during the fourth quarter worth approximately $35,000. Raymond James Financial Inc. purchased a new position in Fulgent Genetics in the second quarter valued at approximately $49,000. Quantbot Technologies LP acquired a new stake in Fulgent Genetics during the third quarter worth approximately $61,000. Los Angeles Capital Management LLC acquired a new stake in Fulgent Genetics during the fourth quarter worth approximately $218,000. Finally, Advisors Asset Management Inc. lifted its position in shares of Fulgent Genetics by 2,205.7% during the 4th quarter. Advisors Asset Management Inc. now owns 8,485 shares of the company’s stock worth $223,000 after buying an additional 8,117 shares during the last quarter. Hedge funds and other institutional investors own 48.06% of the company’s stock.

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.