Fulgent Genetics Q2 revenue rises 20% sequentially, sees billing system transition delay

Fulgent Genetics

30/07/2026 21:18

Overview
Genetic testing firm's Q2 revenue rose 20% sequentially
Company posted a GAAP net loss and non-GAAP loss for the quarter
Fulgent revised annual revenue guidance due to billing system transition delays

Outlook
Fulgent Genetics now expects 2026 revenue in the range of $330.0-$340.0 mln
Company sees 2026 non-GAAP loss of $63.0-$67.0 mln
Company expects 2026 non-GAAP loss per share of $2.22-$2.35

Result Drivers
BILLING SYSTEM TRANSITION - Co said delays in processing and collections from the final phase of its revenue cycle management and billing system transition impacted results
AI AND DIGITAL PATHOLOGY - Co said expansion of its AI portfolio and integration of digital pathology tools improved efficiency and quality in its laboratory services business

Company press release: ID:nBw5j261Ca

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
 
$85.39 mln
$94 mln (1 Analyst)
Q2 Adjusted EBITDA
 
-$17.10 mln
-$4 mln (1 Analyst)
Q2 Gross Profit
 
$25.68 mln
 
Q2 Operating Expenses
 
$61.75 mln
 
Q2 Operating Income
 
-$36.07 mln
 
Q2 Pretax Loss
 
$29.69 mln
 

Analyst Coverage
The one available analyst rating on the shares is "hold"
The average consensus recommendation for the healthcare facilities & services peer group is "buy."
Wall Street's median 12-month price target for Fulgent Genetics Inc is $15.00, about 23.6% below its July 29 closing price of $19.64

Reuters Recommended Reads
July 29 - Adaptive Biotechnologies Q2 revenue rises 22%, beats estimates
July 30 - Labcorp Q2 revenue slightly beats estimates, lifts 2026 outlook 
July 28 - NeoGenomics Q2 revenue beats estimates, raises outlook

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)