Fulgent Genetics, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 03, 2023 at 07:32 am EDT
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Fulgent Genetics, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 84.69 million compared to USD 105.66 million a year ago. Net loss was USD 13.11 million compared to net income of USD 1.72 million a year ago. Basic loss per share from continuing operations was USD 0.44 compared to basic earnings per share from continuing operations of USD 0.06 a year ago. Diluted loss per share from continuing operations was USD 0.44 compared to diluted earnings per share from continuing operations of USD 0.06 a year ago.
For the nine months, sales was USD 218.71 million compared to USD 551.26 million a year ago. Net loss was USD 39.68 million compared to net income of USD 167.24 million a year ago. Basic loss per share from continuing operations was USD 1.33 compared to basic earnings per share from continuing operations of USD 5.53 a year ago. Diluted loss per share from continuing operations was USD 1.33 compared to diluted earnings per share from continuing operations of USD 5.38 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. 
