Fulgent Genetics, Inc. Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2023
February 28, 2024 at 07:08 am EST
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Fulgent Genetics, Inc. reported earnings results for the fourth quarter and full year ended December 31, 2023. For the fourth quarter, the company reported sales was USD 70.51 million compared to USD 67.7 million a year ago. Net loss was USD 128.15 million compared to USD 23.83 million a year ago. Basic loss per share from continuing operations was USD 4.3 compared to USD 0.8 a year ago. Diluted loss per share from continuing operations was USD 4.3 compared to USD 0.8 a year ago.
For the full year, sales was USD 289.21 million compared to USD 618.97 million a year ago. Net loss was USD 167.83 million compared to net income of USD 143.4 million a year ago. Basic loss per share from continuing operations was USD 5.63 compared to basic earnings per share from continuing operations of USD 4.76 a year ago. Diluted loss per share from continuing operations was USD 5.63 compared to diluted earnings per share from continuing operations of USD 4.63 a year ago.
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. 
