Fulgent Genetics, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 04, 2023 at 07:15 am EDT
Share
Fulgent Genetics, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 67.85 million compared to USD 125.34 million a year ago. Net loss was USD 11.23 million compared to net income of USD 11.54 million a year ago. Basic loss per share from continuing operations was USD 0.38 compared to basic earnings per share from continuing operations of USD 0.38 a year ago. Diluted loss per share from continuing operations was USD 0.38 compared to diluted earnings per share from continuing operations of USD 0.37 a year ago.
For the six months, sales was USD 134.02 million compared to USD 445.61 million a year ago. Net loss was USD 26.57 million compared to net income of USD 165.52 million a year ago. Basic loss per share from continuing operations was USD 0.9 compared to basic earnings per share from continuing operations of USD 5.46 a year ago. Diluted loss per share from continuing operations was USD 0.9 compared to diluted earnings per share from continuing operations of USD 5.3 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. 
