Fulgent Genetics, Inc. (FLGT) Income Statement
FLGT 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsFLGT revenue and net income
Where FLGT's revenue goes
2025Each bar shows an amount and its share of revenue. FLGT kept −18.8% of revenue as net income.
FLGT profit margins
FLGT growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +13.8% | −19.5% | −5.2% | +42.2% |
| Gross profit | +22.1% | −29.1% | −17.0% | +40.1% |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | −16.3% | −57.8% | −45.4% | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
FLGT quarterly EPS vs estimates
Fulgent Genetics beat the analyst EPS estimate in 6 of the last 8 quarters. Next report: November 6, 2026 (estimate $1.00).
FLGT income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $322.7M | $283.5M | $289.2M | $619.0M | $992.6M | $421.7M | $32.5M | $21.4M | $18.7M | $18.3M |
| Cost of revenue | $191.8M | $176.3M | $184.8M | $252.1M | $215.5M | $89.8M | $14.1M | $10.7M | $8.6M | $6.7M |
| Gross profit | $130.9M | $107.2M | $104.5M | $366.9M | $777.1M | $331.9M | $18.4M | $10.7M | $10.2M | $11.6M |
| Research & development | $53.9M | $48.8M | $41.4M | $28.9M | $24.2M | $11.6M | $6.5M | $5.5M | $4.2M | $3.6M |
| Sales, general & admin | $160.0M | $124.4M | $130.5M | $150.0M | $75.2M | $30.2M | $12.3M | $10.2M | $9.4M | $7.1M |
| Total operating expenses | $222.0M | $181.1M | $300.0M | $188.4M | $104.3M | $41.7M | $18.8M | $15.7M | $13.6M | $10.6M |
| Operating income | −$91.1M | −$73.9M | −$195.5M | $178.5M | $104.3M | $290.2M | −$428,000 | −$5.1M | −$3.4M | $919,000 |
| Interest income | $30.9M | $31.5M | $18.6M | $5.5M | $1.3M | $1.5M | $837,000 | $434,000 | $481,000 | $5.4M |
| Interest expense | $75,000 | $170,000 | $488,000 | $1.0M | $6.2M | $354,000 | $2.2M | $0 | $0 | $5.4M |
| Income before taxes | −$70.0M | −$52.0M | −$174.1M | $184.0M | $104.3M | $291.7M | $409,000 | −$4.6M | −$2.9M | −$4.5M |
| Income taxes | −$8.4M | −$8.1M | $1.2M | $42.1M | $174.8M | $72.5M | $43,000 | −$1.1M | −$768,000 | $920,000 |
| Net income | −$60.5M | −$42.7M | −$167.8M | $143.4M | $104.3M | $214.3M | $366,000 | −$4.5M | −$2.7M | −$5.4M |
| EBITDA | −$45.8M | −$26.9M | −$147.5M | $217.7M | $106.0M | $293.1M | $1.7M | −$2.9M | −$1.7M | $2.1M |
| EPS (diluted) | $0.41 | $0.49 | −$0.41 | $5.44 | $16.38 | $8.42 | $0.18 | −$0.11 | −$0.03 | $0.17 |
| Gross margin | 40.6% | 37.8% | 36.1% | 59.3% | 78.3% | 78.7% | 56.6% | 49.9% | 54.3% | 63.2% |
| Operating margin | −28.2% | −26.1% | −67.6% | 28.8% | 10.5% | 68.8% | −1.3% | −23.7% | −18.2% | 5.0% |
| Net margin | −18.8% | −15.1% | −58.0% | 23.2% | 10.5% | 50.8% | 1.1% | −21.0% | −14.2% | −29.5% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $85.4M | $71.1M | $83.3M | $84.1M | $81.8M | $73.5M | $76.2M | $71.7M | $71.0M | $64.5M | $70.5M | $84.7M |
| Cost of revenue | $59.7M | $49.6M | $50.8M | $48.6M | $47.4M | $45.1M | $44.4M | $45.0M | $44.5M | $42.4M | $45.3M | $44.8M |
| Gross profit | $25.7M | $21.5M | $32.6M | $35.5M | $34.4M | $28.3M | $31.8M | $26.8M | $26.5M | $22.1M | $25.2M | $39.8M |
| Research & development | $14.6M | $14.2M | $14.2M | $13.9M | $13.5M | $12.4M | $12.1M | $11.8M | $13.5M | $11.4M | $12.0M | $10.0M |
| Sales, general & admin | $42.4M | $39.9M | $52.6M | $35.0M | $38.7M | $33.8M | $33.9M | $30.1M | $29.9M | $30.5M | $42.2M | $27.7M |
| Total operating expenses | $59.6M | $56.1M | $68.8M | $50.9M | $54.1M | $48.1M | $48.0M | $43.9M | $45.4M | $43.9M | $176.3M | $39.6M |
| Operating income | −$33.9M | −$34.6M | −$36.2M | −$15.3M | −$19.7M | −$19.8M | −$16.1M | −$17.1M | −$18.9M | −$21.8M | −$151.1M | $214,000 |
| Interest income | $6.4M | $8.7M | $6.9M | $7.9M | $8.1M | $8.0M | $8.3M | $8.1M | $7.7M | $7.6M | $5.9M | $6.6M |
| Interest expense | $59,000 | $17,000 | $134,000 | $28,000 | $17,000 | $14,000 | $210,000 | $14,000 | $25,000 | $8,000 | $3.5M | $70,000 |
| Income before taxes | −$29.7M | −$26.0M | −$29.3M | −$6.1M | −$21.5M | −$11.7M | −$8.0M | −$18.5M | −$11.2M | −$14.2M | −$145.2M | $6.9M |
| Income taxes | $29,000 | −$704,000 | −$5.6M | $682,999 | −$2.3M | $176,000 | −$1.9M | −$3.8M | −$2.1M | −$327,000 | −$10.9M | $20.3M |
| Net income | −$29.5M | −$24.8M | −$23.4M | −$6.6M | −$19.0M | −$11.5M | −$5.9M | −$14.6M | −$8.7M | −$13.5M | −$128.1M | −$13.1M |
| EBITDA | −$22.0M | −$20.0M | −$23.0M | −$77,000 | −$15.4M | −$5.8M | −$1.6M | −$12.6M | −$5.0M | −$7.5M | −$24.4M | $13.3M |
| EPS (diluted) | −$0.88 | −$0.36 | $0.16 | $0.14 | $0.07 | $0.04 | $0.04 | $0.31 | $0.15 | −$0.01 | $0.28 | −$0.39 |
| Gross margin | 30.1% | 30.2% | 39.1% | 42.2% | 42.1% | 38.6% | 41.8% | 37.3% | 37.3% | 34.3% | 35.8% | 47.0% |
| Operating margin | −39.7% | −48.7% | −43.5% | −18.3% | −24.1% | −26.9% | −21.2% | −23.8% | −26.6% | −33.8% | −214.3% | 0.3% |
| Net margin | −34.6% | −34.9% | −28.1% | −7.9% | −23.2% | −15.7% | −7.7% | −20.4% | −12.3% | −20.9% | −181.8% | −15.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in FLGT's financial statements (latest annual report filed February 27, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
FLGT financial results
In fiscal year 2025 (ended December 31, 2025), Fulgent Genetics reported revenue of $322.7 million, up 13.8% from the year before. It had a net loss of $60.5 million, a net profit margin of −18.8%. Diluted earnings per share came to $0.41. Over five years revenue grew at an average rate of −5.2% a year.
See the FLGT stock overview for the latest quote and news, or the FLGT chart for price history and technical indicators.
FLGT income statement FAQ
What is Fulgent Genetics's annual revenue?
Fulgent Genetics reported total revenue of $322.7 million for fiscal year 2025, which ended on December 31, 2025. That was up 13.8% from $283.5 million the previous year.
Is Fulgent Genetics profitable?
No. Fulgent Genetics reported a net loss of $60.5 million in fiscal 2025, a net profit margin of −18.8%; its operating margin was −28.2%.
What is Fulgent Genetics's gross margin?
Fulgent Genetics's gross margin was 40.6% in fiscal 2025: for every $100 of revenue, Fulgent Genetics kept $41 after the direct cost of its products and services.
How much does Fulgent Genetics spend on research and development?
Fulgent Genetics spent $53.9 million on research and development in fiscal 2025, 16.7% of revenue.
How fast is Fulgent Genetics growing?
Revenue grew −5.2% a year on average over the last five fiscal years, from $421.7 million to $322.7 million.
What are Fulgent Genetics's earnings per share?
Fulgent Genetics earned $0.41 per diluted share in fiscal 2025, compared with $0.49 a year earlier.
When will Fulgent Genetics report its next earnings?
Fulgent Genetics is expected to report results for the quarter ending September 30, 2026 on November 6, 2026 after the market closes.
When does Fulgent Genetics's fiscal year end?
Fulgent Genetics's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on February 27, 2026.