Fulgent Genetics, Inc. Provides Earnings Guidance for the Third Quarter and Full Year of Fiscal 2021
August 09, 2021 at 04:26 pm EDT
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Fulgent Genetics, Inc. provided earnings guidance for the third quarter and full year of fiscal 2021. For the quarter, the company expects total revenue in the range of $125 to $150 million, representing growth of 35% year over year at the midpoint; Core Revenue of approximately $32 million, representing growth of 213% year over year.
For the full year 2021, Fulgent expects, total revenue of approximately $800 million, representing growth of 90% year over year, Core Revenue of approximately $110 million versus previous guidance of $100 million, representing growth of 201% year over year, and GAAP income of approximately $12.00 per share.
Fulgent Genetics, Inc. is a technology-based genetic company with a laboratory services business and a therapeutic development business. The Companyâs laboratory services business includes technical laboratory services and professional interpretation of laboratory results by licensed physicians. Its therapeutic development business is focused on developing drug candidates for treating a range of cancers using a nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile (PK) profile of new and existing cancer drugs. Its technology platform for its laboratory services business includes gene probes, data suppression and comparison algorithms, learning software, and laboratory information management systems. The platform provides a test menu, the ability to rapidly develop and launch new tests and customizable test offerings. The Company also offers next-generation sequencing (NGS) services.
FULGENT GENETICS, INC. 
