Todd has provided insight to a variety of publications, including SmartMoney, Barron's, and CNN/fn. As the COVID-19 pandemic continues to threaten both our health and our way of life, we have been relentless in scaling our testing capabilities to offer fast, accurate and reliable COVID-19 testing solutions for commercial organizations, municipalities, universities and individuals across the country. In 2019, billable testing volume grew to 58,573, a 160% increase from 2018. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. Fulgent Genetics News . GAAP income for the third quarter of 2020 was $46.6 million, or $1.98 per share, and non-GAAP income was $49.0 million, or $2.08 per share. The call can be accessed through a live audio webcast in the Investors section of the company’s website, http://ir.fulgentgenetics.com, and through a live conference call by dialing (855) 321-9535 using the conference ID 1466548. The company’s stock price has collected 1.98% of gains in the last five trading sessions. The company’s reports filed with the U.S. Securities and Exchange Commission (“SEC”), including its annual report on Form 10-K for the year ended December 31, 2019 filed with the SEC on March 13, 2020 and the other reports it files from time to time, including subsequently filed quarterly and current reports, are made available on the company’s website upon their filing with the SEC. Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week high during trading on Thursday . Fulgent Genetics' stock was trading at $10.06 on March 11th, 2020 when COVID-19 … TEMPLE CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing … Fulgent Genetics, Inc. (NASDAQ:FLGT) shares traded down 9.4% during mid-day trading on Thursday following insider selling activity. About Fulgent Genetics Fulgent Genetics’ proprietary technology platform has created a broad, flexible test menu and the ability to continually expand and improve its proprietary genetic reference library … The company, currently valued at $1.21 Billion, closed the … Our recent momentum is a result of the investments we have made in our business and technology platform over many years. We expect to continue investing in our platform to expand our capabilities as we look to capture share in the broader genetic testing market in the future. For Immediate ReleaseChicago, IL – December 15, 2020 – Stocks in this week’s article are Winnebago Industries WGO, General Motors Company GM, 360 DigiTech, Inc. QFIN, Fulgent Genetics, … Returns as of 12/15/2020. The forward-looking statements made in this press release speak only as of the date of this press release, and the company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law. Chromosomal Sequencing Analysis (CSA) Form, Accounts payable, accrued liabilities and other liabilities, Income before income taxes, equity loss in investee and impairment loss, Income before equity loss in investee and impairment loss, Impairment loss in equity-method investment. These reports contain more information about the company, its business and the risks affecting its business, as well as its results of operations for the periods covered by the financial results included in this press release. Fulgent Genetics Inc. [NASDAQ: FLGT] gained 6.44% or 2.94 points to close at $48.57 with a heavy trading volume of 2508521 shares. TEMPLE CITY, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent” or the “company”), a technology company providing comprehensive testing solutions through its scalable technology platform, today announced financial results for its third fiscal quarter ended September 30, 2020. If management thought … The company traded as low as $42.00 and last traded at … Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Fulgent Genetics Is Crashing Today @themotleyfool #stocks $FLGT $ABT. Fulgent Genetics' bread-and-butter business is providing genetic testing for cancer patients and would-be parents. Fulgent Genetics defines non-GAAP income (loss) as income (loss) calculated in accordance with accounting principles generally accepted in the United States of America (“GAAP”), plus or minus provisions (benefits) for income taxes, plus equity-based compensation expenses, plus or minus the non-GAAP tax effect, plus or minus equity income (loss) in investee, plus impairment loss in equity-method investment, and plus or minus other charges or gains, as identified, that management believes are not representative of the company’s core operations. Management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measure of income (loss) in evaluating the company's operating performance. However, a previous Abbott Labs test drew criticism over potential false positives, so investors will want to wait and see how the test performs following its launch. Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the company’s future performance, and they are based on management’s current assumptions, expectations and beliefs concerning future developments and their potential effect on the company’s business. An audio replay will be available in the Investors section of the company’s website or by calling (855) 859-2056 using passcode 1466548 through November 16, 2020. Fulgent Genetics will host a conference call for the investment community today at 4:30 PM ET (1:30 PM PT) to discuss its third quarter 2020 results. Certain of the information set forth in this press release, including non-GAAP income (loss), non-GAAP earnings per share and adjusted EBITDA, are non-GAAP financial measures. In Q2, sales surged 105% year over year to $17.3 million because of significant COVID-19 test demand, resulting in adjusted earnings per share of $0.17, which was $0.19 better than industry watchers' forecast. Fulgent Genetics' turnaround time from receiving the sample to results is 24 hours, and its cost is higher, with management charging $39 out of pocket for its at-home test. Let's conquer your financial goals together...faster. On Thursday, healthcare-giant Abbott Labs announced that it's releasing a 15-minute COVID-19 test using a nasal swab and a reactive card that will cost just $5 per test. Combining next generation sequencing (“NGS”) with its technology platform, the Company performs full-gene sequencing with deletion/duplication analysis in an array of panels that can be tailored to meet specific customer needs. Fulgent Genetics Stock Forecast, Price & News How has Fulgent Genetics' stock been impacted by COVID-19? All rights reserved. However, management pivoted earlier this year to provide COVID-19 testing, too, and that's caused revenue and the company's share price to soar. Non-GAAP income (loss) and adjusted EBITDA are described below under “Note Regarding Non-GAAP Financial Measures” and are reconciled to the most directly comparable GAAP financial measure, GAAP income (loss), in the accompanying tables. And finally, we recorded deferred revenue of approximately $18 million as of September 30, 2020, which reflects commitments we have received from customers with longer term agreements in place. On November 23, 2020, Fulgent Genetics, Inc. (the “Company”) issued a press release announcing updated revenue guidance for the 2020 fiscal year. We expect to see continued momentum across our business in the fourth quarter, and are pleased to be raising our revenue guidance for the full year. In particular, you are encouraged to review the company’s quarterly report on Form 10-Q for the quarter ended September 30, 2020 for any revisions or updates to the information in this release. We also demonstrated great leverage in the quarter as we continued to scale, improving gross margin and generating non-GAAP earnings of $2.08 per share in the quarter. It intends to provide tests to hospitals and medical … Ming Hsieh, Chairman and Chief Executive Officer, said, “I am very pleased with our outstanding third quarter results, which demonstrate the true scalability of our technology platform for genetic testing. The non-GAAP tax effect is calculated by applying statutory corporate tax rate on GAAP income (loss) before equity-based compensation expenses, provisions (benefits) for income taxes, equity income (loss) in investee and impairment loss in equity-method investment. Why Fulgent Genetics Stock Surged 38% in November, This Small-Cap Stock Will Be a Long-Term Winner From the Pandemic, Why Fulgent Genetics Stock Is Soaring 11.2% Today, Copyright, Trademark and Patent Information. In 2019, the Company launched its first patient-initiated product, Picture Genetics, a new line of at-home screening tests that combines the Company’s advanced NGS solutions with actionable results and genetic counseling options for individuals. Visit www.picturegenetics.com for more information. Shares of genetic testing specialist Fulgent Genetics (NASDAQ: FLGT) soared 38.1% in November, according to data from S&P Global Market Intelligence. A faster, cheaper testing alternative could reduce the spread of COVID-19 and help businesses return to normal operations. Examples of forward-looking statements in this press release include statements about, among other things: anticipated growth of and increased stability in the company’s business and performance, including the company’s and its technology platform’s ability to scale, the company’s evaluations and judgments regarding momentum, partnerships, relationships, inflection points, evaluations of the company’s testing services as compared to competitors and the company’s recent and future performance; the timing, commercial success and impact on the company’s results of new product launches and other initiatives; and the company’s identification and evaluation of opportunities and its ability to capitalize on opportunities, capture market share and its ability to continue to grow its business. Earlier this … Capital Markets, LLC, a research firm providing action oriented ideas to professional investors. The Company has received Emergency Use Authorization (“EUA”) from the U.S. Food and Drug Administration (“FDA”) for the RT-PCR-based tests for the detection of SARS-CoV-2 using upper respiratory specimens (nasal, nasopharyngeal, and oropharyngeal swabs) and for the at-home testing service through Picture Genetics. Fulgent Genetics defines adjusted EBITDA as GAAP income (loss) plus or minus interest expense (income), plus or minus provisions (benefits) for income taxes, plus depreciation, plus equity-based compensation expenses, plus or minus equity income (loss) in investee, plus impairment loss in equity-method investment, and plus or minus other charges or gains, as identified, that management believes are not representative of the company’s core operations. Follow FLGT. In 2003, Todd founded E.B. Third quarter revenue was $101.7 million, an increase of 883% from $10.3 million in the third quarter of 2019. Fulgent Genetics, Inc. is a technology company. Fulgent Genetics downgraded to market perform from outperform at Raymond James Nov. 7, 2017 at 8:25 a.m. Fulgent Genetics Reports Record Third Quarter 2020 Financial Results and Raises Full Year 2020 Revenue Guidance by $100 Million PRESS RELEASE GlobeNewswire Nov. 9, 2020, 10:05 PM For example, Fulgent is responsible for COVID-19 testing for the 12,000 employees who work for the State of Ohio. Press and industry analysts are invited to attend in listen-only mode. Investor Relations Contact:The Blueshirt GroupNicole Borsje, 415-217-2633, nicole@blueshirtgroup.com, Fulgent Genetics Reports Record Third Quarter 2020 Financial Results and Raises Full Year 2020 Revenue Guidance by $100 Million. The growth forecast could be temporary, though. Fulgent Genetics, Inc. has a market cap of $1.11 Billion and is expected to release its quarterly earnings report on November 09, 2020. Fulgent Genetics’ proprietary technology platform has created a broad, flexible test menu and the ability to continually expand and improve its proprietary genetic reference library while maintaining accessible pricing, high accuracy and competitive turnaround times. The Picture Genetics platform currently offers multiple tests, providing medically actionable, clinical-level results with professional medical follow-up in one easy process. After receiving FDA EUA-authorized for molecular diagnostic testing, we now offer … The company report on November 24, 2020 that Fulgent Genetics … The company's test volume continued increasing in the third quarter, too. Fulgent Genetics, Inc. (NASDAQ:FLGT) has a beta value of 1.92 and has seen 1,347,539 shares traded in the last trading session. Overall, the genetic-testing market is expected to eclipse $10 billion by 2022 worldwide, so Fulgent Genetics' current sales suggest it has plenty of potential to produce meaningful revenue growth regardless of how the COVID-19 marketplace evolves. Company Summary. During Fulgent Genetics second-quarter conference call in July, management said it expects quarterly testing volume to increase from about 180,000 in Q2 to over 700,000. See you at the top! Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in conformity with GAAP, and non-GAAP financial measures as reported by Fulgent Genetics may not be comparable to similarly titled metrics reported by other companies. However, Fulgent Genetics' main business of genetic testing for cancer patients and parents-to-be has been negatively impacted by COVID-19 lockdowns, so demand for those services should benefit if widespread testing results in more people visiting doctors. New at Fulgent Fulgent Supports At-Home COVID-19 Testing through Picture Genetics Picture Genetics, an at-home genetic testing service powered by Fulgent, will soon offer at-home COVID-19 tests with FDA Emergency Use Authorization. Market data powered by FactSet and Web Financial Group. If you invested a modest $1,000 into shares of Fulgent Genetics (NASDAQ:FLGT) back in January, that investment would have turned into $3,750 as of Dec. 8. These risks and uncertainties include, among others: the ongoing impacts of the COVID-19 pandemic, including the preventive public health measures that may continue to impact demand for its tests and the pandemic’s effects on the global supply chain; the market potential for, and the rate and degree of market adoption of, the company’s tests, including its newly-developed tests for COVID-19 and genetic testing generally; the company’s ability to capture a sizable share of the developing market for genetic and COVID-19 testing and to compete successfully in these markets, including its ability to continue to develop new tests that are attractive to its various customer markets, its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the company’s ability to maintain the low internal costs of its business model, particularly as the company makes investments across its business; the company’s ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the company’s sale prices for and margins on its tests; risks related to volatility in the company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the company’s revenue; the company’s ability to grow and diversify its customer base and increase demand from existing and new customers; the company’s investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the company’s business and performance and enable it to manage any growth it may experience in future periods; the company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the company’s level of success in establishing and obtaining the intended benefits from partnerships, joint ventures or other relationships; the company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the company’s international operations; the company’s ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. Fulgent Genetics, Inc. Common Stock (FLGT) Q3 2020 Earnings Call Transcript finance.yahoo.com - November 10 at 10:15 AM: Fulgent Genetics, Inc.'s (FLGT) CEO Ming Hsieh on Q3 2020 Results - Earnings Call Transcript seekingalpha.com - November 10 at 12:06 AM: Fulgent Genetics … Fulgent Genetics, Inc., a technology company, focuses on providing genetic testing services to physicians with clinically actionable diagnostic information. Fulgent Genetics Inc. (NASDAQ:FLGT) went down by -1.15% from its latest closing price compared to the recent 1-year high of $52.47. TEMPLE CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing … With its Forward Dividend at 0 and a yield of 0%, the … Adjusted EBITDA was $67.4 million in the third quarter of 2020, compared to $3.0 million in the third quarter of 2019. 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