Fulgent Genetics Inc (FRA:7F0)

Q2 2026 Fulgent Genetics Inc Earnings Call Transcript

Jul 30, 2026 / 08:30 PM GMT

Release Date Price: €17 (-0.58%)

Transcript 10-Q8-K

Key Points

Positve

Fulgent Genetics Inc (FLGT) reported encouraging phase 2 data for FID007 in head and neck cancer, presented at ESMO, and is preparing for a phase 3 registration trial in 1H 2027.
The company's second clinical candidate, FID022, is progressing well in dose escalation, with the maximum tolerated dose expected later this year.
Revenue grew 4% year-over-year and 20% sequentially in Q2 2026, driven by the integration of Baco Diagnostics and Strata DX.
The company expanded its AI portfolio with a novel staining-aware algorithm for mast cell quantification, enhancing its digital pathology capabilities.
Fulgent Genetics Inc (FLGT) successfully integrated its fourth and fifth acquisitions, with minimal disruption and a doubled sales team, building a robust pipeline of opportunities.
The company's whole genome sequencing service now offers higher coverage (60-70x) and expanded repeat expansion coverage (from 21 to 64), improving diagnostic yield.

Negative

Fulgent Genetics Inc (FLGT) faced significant billing and revenue cycle management system transition issues, causing delays in claims processing and lower collection rates, impacting revenue recognition.
The company revised its full-year 2026 revenue guidance downward to $330-$340 million from $350 million, reflecting lower collection rates and moderated growth expectations.
Revenue from the largest customer decreased by $4.6 million sequentially as it moves testing capabilities in-house, with further declines expected in the second half of the year.
Gross margins declined to 30.1% (GAAP) and 31.3% (non-GAAP) due to fixed costs spread over a lower revenue base, with expectations of mid-30% for the full year.
The company reported a GAAP net loss of $29.5 million and a non-GAAP loss of $16.2 million in Q2, with adjusted EBITDA loss of $17.1 million.
Cash balance decreased by $50.3 million in Q2, partly due to a $13.5 million legal settlement payment and $15.2 million spent on stock repurchases, while the $106.1 million federal tax refund remains delayed.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

FLGT.OQ - Fulgent Genetics Inc
Q2 2026 Fulgent Genetics Inc Earnings Call
Jul 30, 2026 / 08:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Folger Genetics second quarter 2026 conference call and webcast.

At this time, all participants are enlis only mode.

A question-and-answer session will follow the formal presentation.

You may be placed in the question cue at any time by pressing 1 on your telephone keypad.

As a reminder, this conference is being recorded.

If anyone should require operator assistance, please press 0.

It's not my pleasure to turn the call over to Lauren Sloan Investor Relations.

Lauren, please go ahead.

Good afternoon and welcome to Fulgent second quarter 2026 financial results conference call, on the call are Mingei, Chief Executive Officer.

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