FLGT · Fulgent Genetics, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $322.67M | $283.47M | $289.21M | $618.97M | $992.58M | $421.71M |
| Cost of Revenue | $191.80M | $176.25M | $184.76M | $252.07M | $215.53M | $89.81M |
| Gross Profit | $130.88M | $107.22M | $104.46M | $366.90M | $777.05M | $331.90M |
| R&D | $53.91M | $48.82M | $41.44M | $28.91M | $24.22M | $11.58M |
| SG&A | $116.66M | $88.11M | $89.00M | $111.07M | $50.73M | $15.21M |
| Total Operating Expenses | $221.97M | $181.13M | $299.99M | $188.37M | $101.10M | $41.75M |
| D&A | $24.12M | $24.93M | $26.14M | $32.66M | $2.96M | $2.96M |
| Operating Income | ($91.10M) | ($73.92M) | ($195.53M) | $178.53M | $675.95M | $290.16M |
| Interest Expense | $75.0K | ($170.0K) | - | $346.0K | $117.0K | $20.0K |
| Income Tax | ($8.39M) | ($8.14M) | $1.15M | $42.10M | $174.79M | $72.53M |
| Net Income | ($60.51M) | ($42.71M) | ($167.82M) | $143.40M | $507.36M | $214.31M |
| EPS - Basic | - | - | - | - | - | - |
| EPS - Diluted | - | - | - | - | - | - |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $50.19M | $55.14M | $97.47M | $79.51M | $164.89M | $87.43M |
| Accounts Receivable | $84.76M | $69.02M | $51.13M | $52.75M | $138.91M | $183.86M |
| Inventory | - | - | - | - | - | - |
| Accounts Payable | $18.65M | $18.36M | $15.36M | $23.09M | $20.49M | $26.49M |
| Current Assets | $550.49M | $353.57M | $507.85M | $627.87M | $611.96M | $523.62M |
| Total Assets | $1.21B | $1.22B | $1.24B | $1.39B | $1.28B | $700.46M |
| Current Liabilities | $84.97M | $72.90M | $73.02M | $88.11M | $105.31M | $130.12M |
| Long-term Debt | - | - | - | - | - | - |
| Total Liabilities | $106.81M | $90.81M | $102.04M | $116.18M | $112.84M | $131.07M |
| Stockholders' Equity | $1.11B | $1.13B | $1.14B | $1.27B | $1.16B | $569.39M |
| Retained Earnings | $529.95M | $590.47M | $633.17M | $801.00M | $657.60M | $150.88M |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($101.64M) | $21.06M | $27.00M | $253.52M | $538.58M | $140.63M |
| Investing Cash Flow | $111.37M | ($58.35M) | $38.90M | ($261.31M) | ($546.55M) | ($326.44M) |
| Financing Cash Flow | ($14.79M) | ($4.85M) | ($47.78M) | ($77.14M) | $85.41M | $261.25M |
| CapEx | $22.57M | $40.31M | $22.21M | $18.77M | $23.81M | $35.13M |
| Free Cash Flow | ($124.21M) | ($19.25M) | $4.80M | $234.75M | $514.76M | $105.50M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 40.6% | 37.8% | 36.1% | 59.3% | 78.3% | 78.7% |
| Operating margin | -28.2% | -26.1% | -67.6% | 28.8% | 68.1% | 68.8% |
| EBITDA margin | -20.8% | -17.3% | -58.6% | 34.1% | 68.4% | 69.5% |
| Net margin | -18.8% | -15.1% | -58.0% | 23.2% | 51.1% | 50.8% |
| Free cash flow margin | -38.5% | -6.8% | 1.7% | 37.9% | 51.9% | 25.0% |
| FCF / Net income | 2.05 | 0.45 | -0.03 | 1.64 | 1.01 | 0.49 |
| R&D / Revenue | 16.7% | 17.2% | 14.3% | 4.7% | 2.4% | 2.7% |
| SG&A / Revenue | 36.2% | 31.1% | 30.8% | 17.9% | 5.1% | 3.6% |
| Effective tax rate | - | - | - | 22.7% | 25.6% | 25.3% |
| Return on assets | -5.0% | -3.5% | -13.6% | 10.3% | 39.7% | 30.6% |
| Return on equity | -5.4% | -3.8% | -14.8% | 11.3% | 43.8% | 37.6% |
| Return on invested capital | - | - | - | - | - | - |
| Liquidity | ||||||
| Current ratio | 6.48 | 4.85 | 6.96 | 7.13 | 5.81 | 4.02 |
| Quick ratio | 6.48 | 4.85 | 6.96 | 7.13 | 5.81 | 4.02 |
| Cash ratio | 0.59 | 0.76 | 1.33 | 0.90 | 1.57 | 0.67 |
| Leverage | ||||||
| Debt / Equity | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Interest coverage | -1214.6x | 434.8x | - | 516.0x | 5777.4x | 14507.9x |
| Equity multiplier | 1.09 | 1.08 | 1.09 | 1.09 | 1.10 | 1.23 |
| Liabilities / Assets | 0.09 | 0.07 | 0.08 | 0.08 | 0.09 | 0.19 |
| Efficiency | ||||||
| Asset turnover | 0.27 | 0.23 | 0.23 | 0.45 | 0.78 | 0.60 |
| Inventory turnover | - | - | - | - | - | - |
| Days sales outstanding | 96d | 89d | 65d | 31d | 51d | 159d |
| Days inventory outstanding | - | - | - | - | - | - |
| Days payable outstanding | 35d | 38d | 30d | 33d | 35d | 108d |
| Cash conversion cycle | - | - | - | - | - | - |
| Valuation | ||||||
| P / E | - | - | - | - | - | - |
| P / B | 0.7x | 0.5x | 0.8x | 0.7x | 2.7x | 2.2x |
| P / S | 2.5x | 2.0x | 3.0x | 1.5x | 3.1x | 3.0x |
| EV / EBITDA | - | - | - | 4.0x | 4.3x | 4.0x |
| Growth | ||||||
| Revenue growth (YoY) | 13.8% | -2.0% | -53.3% | -37.6% | 135.4% | 1196.5% |
| Revenue CAGR (3y) | -19.5% | -34.1% | -11.8% | 167.0% | 275.6% | 182.4% |
| Revenue CAGR (5y) | -5.2% | 54.2% | 72.9% | 101.3% | 122.3% | - |
| Gross profit growth (YoY) | 22.1% | 2.6% | -71.5% | -52.8% | 134.1% | 1701.8% |
| Operating income growth (YoY) | -23.2% | 62.2% | - | -73.6% | 133.0% | - |
| Net income growth (YoY) | -41.7% | 74.6% | - | -71.7% | 136.7% | - |
| EPS growth (YoY) | - | - | - | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -545.1% | - | -98.0% | -54.4% | 387.9% | 2333.6% |
| FCF CAGR (5y) | - | - | - | - | 283.9% | - |
| Book value growth (YoY) | -1.9% | -0.3% | -10.3% | 9.3% | 103.5% | 587.9% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$322.67M totalLaboratory Services$322.22M · 99.9%
Therapeutic Development$447.0K · 0.1%
Geographic
$348.79M totalUS$296.55M · 85.0%
Non Us$26.12M · 7.5%
Other Countries$13.21M · 3.8%
CN$12.91M · 3.7%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
5.05
Safe
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
3/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✗Cash flow > net income
- -Long-term debt decreased
- ✓Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✓Asset turnover improved
Peer comparison
Same SIC group: Services-Medical Laboratories
Comparing Fulgent Genetics against the 5 most active filers in the same SIC group.