Overview

• Genetic testing and therapeutics firm's Q1 revenue fell yr/yr to $71.1 mln

• Company repurchased 2.6 mln shares for $40.1 mln in Q1

• Fulgent reiterated full-year 2026 revenue guidance

Outlook

• Fulgent Genetics expects 2026 revenue of approximately $350.0 mln

• Company anticipates 2026 non-GAAP loss of about $46.0 mln, or $(1.59) per share

• Fulgent expects gross margins to normalize and improve in the second half of 2026

Result Drivers

• LABORATORY SERVICES - Co said laboratory services segment delivered solid results in Q1

• THERAPEUTIC PIPELINE - Co highlighted advances in clinical candidates FID-007 and FID-022

Company press release: ID:nBw5qxxy3a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q1 Revenue	Beat	$71.14 mln	$68.10 mln (2 Analysts)
Q1 Adjusted EBITDA	Miss	-$15.20 mln	-$9.98 mln (2 Analysts)
Q1 Gross Profit		$21.49 mln
Q1 Operating Expenses		$56.11 mln
Q1 Operating Income		-$34.62 mln

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the healthcare facilities & services peer group is "buy"

• Wall Street's median 12-month price target for Fulgent Genetics Inc is $26.00, about 71.2% above its April 30 closing price of $15.19

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