Fulgent Genetics, Inc. Q1 2026 Financial Results

Fulgent Genetics, Inc. reported its financial results for the first quarter ended March 31, 2026. The company announced a revenue of $71.1 million, with a GAAP gross profit of $21.5 million (30.2% margin) and a non-GAAP gross profit of $23.0 million (32.3% margin). The company reported a GAAP net loss of $24.8 million, or $(0.80) per share, and a non-GAAP net loss of $11.0 million, or $(0.36) per share. As of the end of the quarter, Fulgent Genetics had $604.7 million in cash, cash equivalents, restricted cash, and investments in marketable securities, excluding an anticipated $106 million tax refund. The company reiterated its revenue guidance for the fiscal year 2026, expecting approximately $350.0 million. They also updated their non-GAAP EPS and cash guidance for the year due to executing on their stock repurchase program, where they purchased approximately 2.6 million shares for $40.1 million in the first quarter. The company anticipates gross margins to normalize and improve in the second half of the year. Fulgent Genetics also provided an outlook for the full year 2026, expecting a non-GAAP loss of approximately $46.0 million, or approximately $(1.59) per share, and ending the year with approximately $636.0 million in cash, cash equivalents, restricted cash, and investments in marketable securities, assuming the receipt of the anticipated tax refund and certain capital expenditures and therapeutic development spending.