fulgent genetics news

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information presented in conformity with GAAP, and non-GAAP financial measures as reported by Fulgent Genetics may not be comparable to similarly titled metrics reported by other companies. Zacks News for FLGT No Record found. Fulgent Genetics Inc. [NASDAQ: FLGT] gained 6.44% or 2.94 points to close at $48.57 with a heavy trading volume of 2508521 shares. Earlier this … The stock traded as high as $53.00 and last traded at $52.29, with a volume of … Management uses these non-GAAP financial measures along with the most directly comparable GAAP financial measure of income (loss) in evaluating the company's operating performance. Fulgent Genetics' stock was trading at $10.06 on March 11th, 2020 when COVID-19 … Fulgent Genetics’ proprietary technology platform has created a broad, flexible test menu and the ability to continually expand and improve its proprietary genetic reference library while maintaining accessible pricing, high accuracy and competitive turnaround times. Fulgent Genetics, Inc. has a market cap of $1.11 Billion and is expected to release its quarterly earnings report on November 09, 2020. As a result of these risks and uncertainties, forward-looking statements should not be relied on or viewed as predictions of future events. Fulgent Genetics Inc. (NASDAQ:FLGT) went down by -1.15% from its latest closing price compared to the recent 1-year high of $52.47. The growth forecast could be temporary, though. The forward-looking statements made in this press release speak only as of the date of this press release, and the company assumes no obligation to update publicly any such forward-looking statements to reflect actual results or to changes in expectations, except as otherwise required by law. The non-GAAP tax effect is calculated by applying statutory corporate tax rate on GAAP income (loss) before equity-based compensation expenses, provisions (benefits) for income taxes, equity income (loss) in investee and impairment loss in equity-method investment. Fulgent Genetics News . However, Fulgent Genetics' main business of genetic testing for cancer patients and parents-to-be has been negatively impacted by COVID-19 lockdowns, so demand for those services should benefit if widespread testing results in more people visiting doctors. TEMPLE CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing … Fulgent Genetics Stock Forecast, Price & News How has Fulgent Genetics' stock been impacted by COVID-19? During Fulgent Genetics second-quarter conference call in July, management said it expects quarterly testing volume to increase from about 180,000 in Q2 to over 700,000. The healthcare company delivered 180,513 billable tests in the period, up more than 1,003% from the same quarter last year. These risks and uncertainties include, among others: the ongoing impacts of the COVID-19 pandemic, including the preventive public health measures that may continue to impact demand for its tests and the pandemic’s effects on the global supply chain; the market potential for, and the rate and degree of market adoption of, the company’s tests, including its newly-developed tests for COVID-19 and genetic testing generally; the company’s ability to capture a sizable share of the developing market for genetic and COVID-19 testing and to compete successfully in these markets, including its ability to continue to develop new tests that are attractive to its various customer markets, its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the company’s ability to maintain the low internal costs of its business model, particularly as the company makes investments across its business; the company’s ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the company’s sale prices for and margins on its tests; risks related to volatility in the company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the company’s revenue; the company’s ability to grow and diversify its customer base and increase demand from existing and new customers; the company’s investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the company’s business and performance and enable it to manage any growth it may experience in future periods; the company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the company’s level of success in establishing and obtaining the intended benefits from partnerships, joint ventures or other relationships; the company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the company’s international operations; the company’s ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week high during trading on Thursday . Capital Markets, LLC, a research firm providing action oriented ideas to professional investors. Earlier this month, it increased its full-year sales outlook to $135 million from $120 million, previously. Genetic testing specialist Fulgent has seen its revenue and bottom line skyrocket. For the fourth quarter of 2020, the company expects to generate revenue of at least $110 million. The Picture Genetics platform currently offers multiple tests, providing medically actionable, clinical-level results with professional medical follow-up in one easy process. After competitor Abbott Labs (NYSE:ABT) unveiled a $5, 15-minute COVID-19 test, shares of Fulgent Genetics (NASDAQ:FLGT) are tumbling 28.7% at 11:15 a.m. EDT on Thursday. With its Forward Dividend at 0 and a yield of 0%, the … Stock Advisor launched in February of 2002. These forward-looking statements are subject to a number of risks and uncertainties, which may cause the forward-looking events and circumstances described in this press release to not occur, and actual results to differ materially and adversely from those described in or implied by the forward-looking statements. Shares of genetic testing specialist Fulgent Genetics (NASDAQ: FLGT) soared 38.1% in November, according to data from S&P Global Market Intelligence. As the COVID-19 pandemic continues to threaten both our health and our way of life, we have been relentless in scaling our testing capabilities to offer fast, accurate and reliable COVID-19 testing solutions for commercial organizations, municipalities, universities and individuals across the country. The company report on November 24, 2020 that Fulgent Genetics … Fulgent Genetics, Inc., a technology company, focuses on providing genetic testing services to physicians with clinically actionable diagnostic information. A high-level overview of Fulgent Genetics, Inc. (FLGT) stock. The company, currently valued at $1.21 Billion, closed the … New at Fulgent Fulgent Supports At-Home COVID-19 Testing through Picture Genetics Picture Genetics, an at-home genetic testing service powered by Fulgent, will soon offer at-home COVID-19 tests with FDA Emergency Use Authorization. In particular, you are encouraged to review the company’s quarterly report on Form 10-Q for the quarter ended September 30, 2020 for any revisions or updates to the information in this release. While the majority of our testing volume this quarter comprised of COVID-19 tests, our core genetic testing business rebounded nicely and grew 57% sequentially from the second quarter. Fulgent Genetics believes this information is useful to investors because it provides a basis for measuring the performance of the company’s business excluding certain income or expense items that management believes are not directly attributable to the company’s core operating results. TEMPLE CITY, Calif., Nov. 09, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent” or the “company”), a technology company providing comprehensive testing solutions through its scalable technology platform, today announced financial results for its third fiscal quarter ended September 30, 2020. The company traded as low as $42.00 and last traded at … For Immediate ReleaseChicago, IL – December 15, 2020 – Stocks in this week’s article are Winnebago Industries WGO, General Motors Company GM, 360 DigiTech, Inc. QFIN, Fulgent Genetics, … The company’s stock price has collected 1.98% of gains in the last five trading sessions. Todd has been helping buy side portfolio managers as an independent researcher for over a decade. Fulgent Genetics' turnaround time from receiving the sample to results is 24 hours, and its cost is higher, with management charging $39 out of pocket for its at-home test. In Q2, sales surged 105% year over year to $17.3 million because of significant COVID-19 test demand, resulting in adjusted earnings per share of $0.17, which was $0.19 better than industry watchers' forecast. If Abbott's launch is successful, government and corporate clients could shift away from Fulgent Genetics' testing option, causing revenue to drop in future quarters. 2018 © Fulgent Genetics. Fulgent Genetics, Inc. Common Stock (FLGT) Q3 2020 Earnings Call Transcript finance.yahoo.com - November 10 at 10:15 AM: Fulgent Genetics, Inc.'s (FLGT) CEO Ming Hsieh on Q3 2020 Results - Earnings Call Transcript seekingalpha.com - November 10 at 12:06 AM: Fulgent Genetics … This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. A pioneer in genetic testing, Fulgent began working on COVID-related services when cases first appeared in the US. Press Release reported on 11/24/20 that Fulgent Genetics … (1)    Equity-based compensation expense was allocated as follows: Corporate tax rate of 27% for the three and nine months ended, Corporate tax rate of zero for the three and nine months ended, Record Billable tests delivered approximately 1.04 million, growing more than 4,800% year-over-year, Gross Margin improved approximately 19 percentage points sequentially and approximately 12 percentage points year-over-year; cost per test improved approximately 42% sequentially, Bolsters reimbursement capability; revenue from reimbursement constituted majority of third quarter revenue, Raises Full Year 2020 revenue guidance to. Stay up to date on the latest stock price, chart, news, analysis, fundamentals, trading and investment tools. In 2019, billable testing volume grew to 58,573, a 160% increase from 2018. Cumulative Growth of a $10,000 Investment in Stock Advisor, Why Fulgent Genetics Is Crashing Today @themotleyfool #stocks $FLGT $ABT. Todd has provided insight to a variety of publications, including SmartMoney, Barron's, and CNN/fn. We will provide a formal update during our investment community conference call to shortly follow the issuance of this press release.”. A cornerstone of the Company’s business is its ability to provide expansive options and flexibility for all clients’ unique testing needs through a comprehensive technology offering including cloud computing, pipeline services, record management, web portal services, clinical workflow, sequencing as a service and automated laboratory services. The company's test volume continued increasing in the third quarter, too. Forward-looking statements are statements other than historical facts and relate to future events or circumstances or the company’s future performance, and they are based on management’s current assumptions, expectations and beliefs concerning future developments and their potential effect on the company’s business. Fulgent Genetics' bread-and-butter business is providing genetic testing for cancer patients and would-be parents. These reports contain more information about the company, its business and the risks affecting its business, as well as its results of operations for the periods covered by the financial results included in this press release. Investor Relations Contact:The Blueshirt GroupNicole Borsje, 415-217-2633, nicole@blueshirtgroup.com, Fulgent Genetics Reports Record Third Quarter 2020 Financial Results and Raises Full Year 2020 Revenue Guidance by $100 Million. The Ascent is The Motley Fool's new personal finance brand devoted to helping you live a richer life. On November 23, 2020, Fulgent Genetics, Inc. (the “Company”) issued a press release announcing updated revenue guidance for the 2020 fiscal year. Fulgent … Non-GAAP income (loss) and adjusted EBITDA are described below under “Note Regarding Non-GAAP Financial Measures” and are reconciled to the most directly comparable GAAP financial measure, GAAP income (loss), in the accompanying tables. We expect to continue investing in our platform to expand our capabilities as we look to capture share in the broader genetic testing market in the future. Fulgent Genetics, Inc. is a technology company. Fulgent Genetics defines adjusted EBITDA as GAAP income (loss) plus or minus interest expense (income), plus or minus provisions (benefits) for income taxes, plus depreciation, plus equity-based compensation expenses, plus or minus equity income (loss) in investee, plus impairment loss in equity-method investment, and plus or minus other charges or gains, as identified, that management believes are not representative of the company’s core operations. Let's conquer your financial goals together...faster. Overall, the genetic-testing market is expected to eclipse $10 billion by 2022 worldwide, so Fulgent Genetics' current sales suggest it has plenty of potential to produce meaningful revenue growth regardless of how the COVID-19 marketplace evolves. Note Regarding Non-GAAP Financial Measures. Fulgent Genetics, Inc. (NASDAQ:FLGT) has a beta value of 1.92 and has seen 1,347,539 shares traded in the last trading session. During Fulgent Genetics second-quarter conference call in July, management said it expects quarterly testing volume to increase from about 180,000 in Q2 to over 700,000. Fulgent Genetics may continue to incur expenses similar to the items added to or subtracted from GAAP income (loss) to calculate non-GAAP income (loss) and adjusted EBITDA; accordingly, the exclusion of these items in the presentation of these non-GAAP financial measures should not be construed as an implication that these items are unusual, infrequent or non-recurring. Fulgent Genetics, Inc. (NASDAQ:FLGT) shares traded down 9.4% during mid-day trading on Thursday following insider selling activity. Fulgent could customize tests for customers, for about 5,700 different genetic conditions. 43.58 0.92 (2.16%) Upgrade to Real-Time Afterhours (Closed) LANES, Fulgent Genetics and LA County Department of Health Services Collaborate to Fast-Track … TEMPLE CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing … In addition to our technology investments, we believe the relationships we have built during this pandemic from both a customer and reimbursement standpoint, along with the expansion of our commercial capabilities which includes our at-home platform, Picture Genetics, will help drive our business in the years ahead.”, Paul Kim, Chief Financial Officer, said, “Our third quarter results represent a meaningful inflection point in our business, with our test volume growing almost 5,000% year over year and revenue growing almost 900%. Combining next generation sequencing (“NGS”) with its technology platform, the Company performs full-gene sequencing with deletion/duplication analysis in an array of panels that can be tailored to meet specific customer needs. If management thought … How Did Fulgent Genetics Stock Perform in 2020? Why Fulgent Genetics Stock Surged 38% in November, This Small-Cap Stock Will Be a Long-Term Winner From the Pandemic, Why Fulgent Genetics Stock Is Soaring 11.2% Today, Copyright, Trademark and Patent Information. Adjusted EBITDA was $67.4 million in the third quarter of 2020, compared to $3.0 million in the third quarter of 2019. We expect to see continued momentum across our business in the fourth quarter, and are pleased to be raising our revenue guidance for the full year. The Zacks Analyst Blog Highlights: Addus HomeCare, Fulgent Genetics and Hologic Company Summary. Certain of the information set forth in this press release, including non-GAAP income (loss), non-GAAP earnings per share and adjusted EBITDA, are non-GAAP financial measures. Press and industry analysts are invited to attend in listen-only mode. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. In 2019, the Company launched its first patient-initiated product, Picture Genetics, a new line of at-home screening tests that combines the Company’s advanced NGS solutions with actionable results and genetic counseling options for individuals. Forward-Looking statements should not be relied on or viewed as predictions of events! For example, Fulgent began working on COVID-related services when cases first appeared in the last five trading.... Has seen its revenue and bottom line skyrocket of $ 135 million $! Ebitda was $ 101.7 million, previously not be relied on or viewed as predictions of fulgent genetics news events formal. This press release contains forward-looking statements should not be relied on or viewed as predictions of future events a firm. 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