FLGT on Nasdaq
Fulgent Genetics
Logo: Fulgent Genetics, CC BY-SA 4.0, via Wikimedia Commons4
Biotechnology company.1
Price unavailable
Last updated Oct 19, 2026.
Overview
2011Founded1
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- TickerFLGT on Nasdaq1
- Industrybiotechnology1
- HeadquartersTemple City1
- Websitewww.fulgentgenetics.com
- Legal formDelaware corporation1
- Incorporated inDE5
- Business address4399 Santa Anita Ave, El Monte, Ca 917315
- Filer categoryAccelerated filer5
- LEI549300CL6P01M68QJ4043
- StatusActive3
- LEI statusLapsed (not renewed)3
- Registered addressC/O THE CORPORATION TRUST COMPANY, 19801 Wilmington, United States3
- Registered withDivision of Corporations, Department of State, 60009893
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We are a technology-based company with a well-established laboratory services business and a therapeutic development business. Our laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Our therapeutic development business is focused on developing product candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile, or PK profile, of new and existing cancer drugs.6 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
40.6%Gross margin7
-28.2%Operating margin7
-18.8%Net margin7
13.8%Revenue growth, 20257
-5.4%Return on equity7
-$124.2MFree cash flow7
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Business segments
Laboratory Services brought in 100% of the revenue Fulgent Genetics broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2023 | 2024 | 2025 |
|---|---|---|---|
| Laboratory Services | $289.2M | $283.5M | $322.2M |
| Therapeutic Development | $0 | $0 | $447.0K |
Regions
United States brought in 92% of the revenue Fulgent Genetics broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $269.0M | $259.1M | $296.6M |
| Other Countries | $8.8M | $11.7M | $13.2M |
| China | $11.4M | $12.6M | $12.9M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue59¢$191.8M
- Research and development17¢$53.9M
- Other costs21¢$68.6M
- Income tax3¢$8.4M
Out of $322.7M in revenue.7 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $322.7M | $283.5M | $289.2M |
| Cost of revenue | $191.8M | $176.3M | $184.8M |
| Gross profit | $130.9M | $107.2M | $104.5M |
| Research and development | $53.9M | $48.8M | $41.4M |
| Selling and marketing | $43.4M | $36.2M | $41.5M |
| General and administrative | $116.7M | $88.1M | $89.0M |
| Amortization of intangible assets | $8.0M | $8.0M | $7.8M |
| Goodwill impairment loss | $0 | $0 | $120.2M |
| Total operating expenses | $222.0M | $181.1M | $300.0M |
| Operating loss | -$91.1M | -$73.9M | -$195.5M |
| Interest income | $30.9M | $31.3M | $21.6M |
| Interest expense | -$75.0K | $170.0K | -$488.0K |
| Impairment loss | -$9.9M | -$10.1M | |
| Other income, net | $153.0K | $561.0K | $320.0K |
| Total other income, net | $21.1M | $22.0M | $21.4M |
| Loss before income taxes | -$70.0M | -$52.0M | -$174.1M |
| (Benefit from) provision for income taxes | -$8.4M | -$8.1M | $1.2M |
| Net loss from consolidated operations | -$61.6M | -$43.8M | -$175.2M |
| Net loss attributable to noncontrolling interests | $1.1M | $1.1M | $7.4M |
| Net loss attributable to Fulgent | -$60.5M | -$42.7M | -$167.8M |
| Basic | -$2 | -$1 | -$6 |
| Diluted | -$2 | -$1 | -$6 |
| Basic | 30.8M shares | 30.2M shares | 29.8M shares |
| Diluted | 30.8M shares | 30.2M shares | 29.8M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $50.2M | $55.1M | $97.5M | |
| Marketable securities | $285.9M | $203.0M | ||
| Trade accounts receivable, net of allowance for credit losses of $21,411 as of December 31, 2025, and $20,458 as of December 31, 2024 | $84.8M | $69.0M | ||
| Prepaid income taxes | $107.1M | $3.4M | ||
| Other current assets | $22.6M | $23.0M | ||
| Total current assets | $550.5M | $353.6M | ||
| Marketable securities, long-term | $369.3M | $570.4M | ||
| Fixed assets, net | $112.5M | $105.5M | ||
| In-process research & development | $68.5M | $64.6M | ||
| Other intangible assets, net | $64.8M | $70.4M | ||
| Goodwill | $25.1M | $22.1M | ||
| Other long-term assets | $22.9M | $33.5M | ||
| Total assets | $1.2B | $1.2B | ||
| Accounts payable | $18.7M | $18.4M | ||
| Accrued liabilities | $34.1M | $24.3M | ||
| Customer deposit | $28.1M | $27.6M | ||
| Contract liabilities | $3.6M | $2.2M | ||
| Notes payable, current | $476.0K | $412.0K | ||
| Total current liabilities | $85.0M | $72.9M | ||
| Deferred tax liabilities | $6.9M | $6.4M | ||
| Unrecognized tax benefits | $7.3M | $4.6M | ||
| Other long-term liabilities | $7.6M | $7.0M | ||
| Total liabilities | $106.8M | $90.8M | ||
| Common stock, $0.0001 par value per share, 50,000 shares authorized, 34,501 shares issued and 31,081 shares outstanding as of December 31, 2025, and 33,614 shares issued and 30,841 shares outstanding as of December 31, 2024 | $3.0K | $3.0K | ||
| Additional paid-in capital | $574.5M | $543.1M | ||
| Accumulated other comprehensive income (loss) | $7.5M | -$368.0K | ||
| Retained earnings | $530.0M | $590.5M | ||
| Total Fulgent stockholders' equity | $1.1B | $1.1B | ||
| Noncontrolling interest | -$5.3M | -$4.1M | ||
| Total stockholders equity | $1.1B | $1.1B | $1.1B | $1.3B |
| Total liabilities and stockholders equity | $1.2B | $1.2B | ||
| Allowance for credit losses | $21.4M | $20.5M | $25.2M | $41.2M |
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Common stock, shares issued | 34.5M shares | 33.6M shares | ||
| Common stock, shares outstanding | 31.1M shares | 30.8M shares | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $50.2M | $55.1M | $97.5M | |
| Marketable securities | $285.9M | $203.0M | ||
| Trade accounts receivable, net of allowance for credit losses of $21,411 as of December 31, 2025, and $20,458 as of December 31, 2024 | $84.8M | $69.0M | ||
| Prepaid income taxes | $107.1M | $3.4M | ||
| Other current assets | $22.6M | $23.0M | ||
| Total current assets | $550.5M | $353.6M | ||
| Marketable securities, long-term | $369.3M | $570.4M | ||
| Fixed assets, net | $112.5M | $105.5M | ||
| In-process research & development | $68.5M | $64.6M | ||
| Other intangible assets, net | $64.8M | $70.4M | ||
| Goodwill | $25.1M | $22.1M | ||
| Other long-term assets | $22.9M | $33.5M | ||
| Total assets | $1.2B | $1.2B | ||
| Accounts payable | $18.7M | $18.4M | ||
| Accrued liabilities | $34.1M | $24.3M | ||
| Customer deposit | $28.1M | $27.6M | ||
| Contract liabilities | $3.6M | $2.2M | ||
| Notes payable, current | $476.0K | $412.0K | ||
| Total current liabilities | $85.0M | $72.9M | ||
| Deferred tax liabilities | $6.9M | $6.4M | ||
| Unrecognized tax benefits | $7.3M | $4.6M | ||
| Other long-term liabilities | $7.6M | $7.0M | ||
| Total liabilities | $106.8M | $90.8M | ||
| Common stock, $0.0001 par value per share, 50,000 shares authorized, 34,501 shares issued and 31,081 shares outstanding as of December 31, 2025, and 33,614 shares issued and 30,841 shares outstanding as of December 31, 2024 | $3.0K | $3.0K | ||
| Additional paid-in capital | $574.5M | $543.1M | ||
| Accumulated other comprehensive income (loss) | $7.5M | -$368.0K | ||
| Retained earnings | $530.0M | $590.5M | ||
| Total Fulgent stockholders' equity | $1.1B | $1.1B | ||
| Noncontrolling interest | -$5.3M | -$4.1M | ||
| Total stockholders equity | $1.1B | $1.1B | $1.1B | $1.3B |
| Total liabilities and stockholders equity | $1.2B | $1.2B | ||
| Allowance for credit losses | $21.4M | $20.5M | $25.2M | $41.2M |
| Common stock, par value | $0.00 | $0.00 | ||
| Common stock, shares authorized | 50.0M shares | 50.0M shares | ||
| Common stock, shares issued | 34.5M shares | 33.6M shares | ||
| Common stock, shares outstanding | 31.1M shares | 30.8M shares | ||
| Preferred stock, par value | $0.00 | $0.00 | ||
| Preferred stock, shares authorized | 1.0M shares | 1.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | ||
| Preferred stock, shares outstanding | 0 shares | 0 shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.7
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss from consolidated operations | -$61.6M | -$43.8M | -$175.2M |
| Goodwill impairment loss | $0 | $0 | $120.2M |
| Equity-based compensation | $39.6M | $44.5M | $42.9M |
| Depreciation and amortization | $24.1M | $24.9M | $26.1M |
| Provision (adjustment) for credit losses | $7.6M | -$1.7M | -$880.0K |
| Noncash lease expense | $1.8M | $3.8M | $6.4M |
| (Gain) loss on disposal of fixed asset | -$3.0K | $320.0K | $305.0K |
| Discount premium of marketable securities | -$5.1M | -$5.5M | -$3.9M |
| Deferred taxes | -$1.2M | -$3.7M | $11.5M |
| Unrecognized tax benefits | $936.0K | -$1.4M | -$3.9M |
| Net realized (gain) loss on marketable securities | -$62.0K | $994.0K | $589.0K |
| Impairment loss | $9.9M | $10.1M | $0 |
| Other | $30.0K | -$7.0K | -$21.0K |
| Trade accounts receivable | -$23.3M | -$16.3M | $2.4M |
| Income tax | -$104.9M | $9.3M | $2.8M |
| Other current and long-term assets | $798.0K | $199.0K | -$3.3M |
| Accounts payable | $550.0K | $3.1M | -$6.9M |
| Contract liabilities | $1.4M | -$639.0K | -$325.0K |
| Customer deposits | $520.0K | $4.9M | $11.8M |
| Accrued liabilities and other liabilities | $8.9M | -$4.0M | $2.7M |
| Operating lease liabilities | -$1.6M | -$3.8M | -$6.3M |
| Net cash (used in) provided by operating activities | -$101.6M | $21.1M | $27.0M |
| Purchase of marketable securities | -$80.8M | -$472.4M | -$491.9M |
| Purchases of fixed assets | -$22.6M | -$40.3M | -$22.2M |
| Maturities of marketable securities | $211.0M | $349.8M | $508.6M |
| Proceeds from sale of marketable securities | $0 | $104.3M | $44.1M |
| Proceeds from sale of fixed assets | $5.0K | $313.0K | $775.0K |
| Acquisition of businesses, net of cash acquired | $3.8M | $0 | -$399.0K |
| Net cash provided by (used in) investing activities | $111.4M | -$58.4M | $38.9M |
| Common stock withholding for employee tax obligations | -$3.0M | -$2.9M | -$2.7M |
| Repayment of notes payable | -$471.0K | -$1.2M | -$4.3M |
| Principal paid for finance lease | -$399.0K | -$544.0K | -$730.0K |
| Repurchase of common stock | -$10.9M | -$225.0K | -$25.1M |
| Repayment of investment margin loan | $0 | $0 | -$15.0M |
| Proceeds from exercise of stock options | $1.0K | $51.0K | $3.0K |
| Net cash used in financing activities | -$14.8M | -$4.8M | -$47.8M |
| Effect of exchange rate changes on cash and cash equivalents | $105.0K | -$55.0K | -$149.0K |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | -$5.0M | -$42.2M | $18.0M |
| Income taxes paid | $96.4M | ||
| Income taxes paid | $27.6M | $3.3M | |
| Interest paid | $52.0K | $512.0K | $960.0K |
| Contingent consideration for business acquisition included in additional paid-in capital | $5.7M | $0 | $0 |
| Purchases of fixed assets in accounts payable | $1.7M | $1.8M | $1.8M |
| Holdback for acquisition of business included in other long-term liabilities | $1.9M | $0 | $0 |
| Operating lease right-of-use assets obtained in exchange for lease liabilities | $579.0K | $1.2M | $2.7M |
| Operating lease right-of-use assets reduced due to lease modification and termination | -$47.0K | $57.0K | $142.0K |
| Operating lease liabilities removed due to purchasing underlying assets | $0 | $2.8M | $0 |
| Finance lease right-of-use assets reduced due to lease modification and termination | $0 | $0 | $696.0K |
No quarter-by-quarter statement was filed.
Leadership
Who has led Fulgent Genetics, and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
Chief operating officer
201520202025
- Chief executive officerMing Hsieh Sep 28, 2016 to now15
- PresidentJian Xie May 3, 2022 to now16
- PresidentMing Hsieh Sep 28, 2016 to Aug 3, 202215
- Chief financial officerPaul Kim Sep 28, 2016 to now17
- Chief operating officerJian Xie Aug 5, 2020 to now18
Board members and other officers (9)
- Chief Scientific OfficerHanlin Gao Sep 28, 2016 to now19
- Board memberRegina E. Groves Jan 4, 2023 to now20
- Board memberLeonard E. Post Aug 3, 2022 to Aug 3, 202221
- Board memberMichael Nohaile Aug 10, 2022 to now22
- Board memberLinda Marsh Aug 5, 2019 to now23
- Board memberJames Mulay Sep 28, 2016 to Jun 3, 201924
- Board memberJohn C. Bolger Sep 28, 2016 to Aug 3, 202225
- Board memberMing Hsieh Sep 28, 2016 to now15
- Board memberYun Yen Sep 28, 2016 to May 20, 202226
Former names
- Fulgent Diagnostics, Inc.Jun 9, 2016 to Jul 15, 20165
Timeline
Filings
429 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 39 major events, 287 insider forms, 17 large holders, 66 other. The latest 20:
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 3, 20264 EDGAR
- Sep 2, 2026144 EDGAR
- Sep 2, 2026144 EDGAR
- Aug 28, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 28, 20264 EDGAR
- Aug 27, 2026144 EDGAR
- Aug 27, 2026144 EDGAR
- Jul 30, 202610-Q EDGAR
- Jul 30, 20268-K EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jul 28, 20264 EDGAR
- Jun 3, 20264 EDGAR
- Jun 3, 20264 EDGAR
- Jun 3, 20264 EDGAR
The 429 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
84 open-market trades by officers, directors and large owners since October 2021: 1 buys and 83 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 2, 2026 | Xie JianPresident and COO | Sale | 2,127 | $19.66 | $41.8K | Form 4 |
| Sep 2, 2026 | Gao HanlinChief Scientific Officer | Sale | 1,673 | $19.66 | $32.9K | Form 4 |
| Aug 27, 2026 | Xie JianPresident and COO | Sale | 1,193 | $19.91 | $23.8K | Form 4 |
| Aug 27, 2026 | Gao HanlinChief Scientific Officer | Sale | 939 | $19.91 | $18.7K | Form 4 |
| Jun 2, 2026 | Xie JianPresident and COO | Sale | 2,146 | $17.89 | $38.4K | Form 4 |
| Jun 2, 2026 | Gao HanlinChief Scientific Officer | Sale | 1,688 | $17.89 | $30.2K | Form 4 |
| May 27, 2026 | Xie JianPresident and COO | Sale | 1,201 | $17.60 | $21.1K | Form 4 |
| May 27, 2026 | Gao HanlinChief Scientific Officer | Sale | 945 | $17.60 | $16.6K | Form 4 |
| Dec 2, 2025 | Xie JianPresident and COO | Sale | 1,140 | $28.33 | $32.3K | Form 4 |
| Dec 2, 2025 | Gao HanlinChief Scientific Officer | Sale | 1,075 | $28.33 | $30.5K | Form 4 |
| Nov 28, 2025 | Xie JianPresident and COO | Sale | 1,198 | $29.57 | $35.4K | Form 4 |
| Nov 28, 2025 | Gao HanlinChief Scientific Officer | Sale | 943 | $29.57 | $27.9K | Form 4 |
| Nov 24, 2025 | Xie JianPresident and COO | Sale | 681 | $30.47 | $20.8K | Form 4 |
| Nov 24, 2025 | Gao HanlinChief Scientific Officer | Sale | 535 | $30.47 | $16.3K | Form 4 |
| Nov 19, 2025 | Xie JianPresident and COO | Sale | 10,000 | $29.10 | $291.0K | Form 4 |
| Sep 3, 2025 | Xie JianPresident and COO | Sale | 1,128 | $22.03 | $24.9K | Form 4 |
| Sep 3, 2025 | Gao HanlinChief Scientific Officer | Sale | 1,063 | $22.03 | $23.4K | Form 4 |
| Aug 27, 2025 | Xie JianPresident and COO | Sale | 1,199 | $21.48 | $25.8K | Form 4 |
| Aug 27, 2025 | Gao HanlinChief Scientific Officer | Sale | 943 | $21.48 | $20.3K | Form 4 |
| Aug 25, 2025 | Xie JianPresident and COO | Sale | 696 | $21.50 | $15.0K | Form 4 |
All 84 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Ming HsiehSCHEDULE 13D/A, 4 filings Nov 10, 2022 to May 27, 202627
- MILLENNIUM MANAGEMENT LLCSCHEDULE 13G/A, 5 filings Jan 8, 2025 to Feb 4, 202628
- BarclaysSCHEDULE 13G/A, 3 filings Feb 7, 2025 to May 13, 202529
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
Links
- Websitewww.fulgentgenetics.com1
- WikidataQ66823616
- SEC EDGARCIK 1674930
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1WikidataFulgent Genetics on Wikidata
- 2
- 3
- 4Wikimedia CommonsFulgent Genetics logo by Fulgent Genetics, CC BY-SA 4.0
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12
- 13
- 14
- 15SEC EDGARMing Hsieh, Chief executive officer
- 16SEC EDGARJian Xie, President
- 17SEC EDGARPaul Kim, Chief financial officer
- 18SEC EDGARJian Xie, Chief operating officer
- 19SEC EDGARHanlin Gao, Chief Scientific Officer
- 20SEC EDGARRegina E. Groves, Board member
- 21SEC EDGARLeonard E. Post, Board member
- 22SEC EDGARMichael Nohaile, Board member
- 23SEC EDGARLinda Marsh, Board member
- 24SEC EDGARJames Mulay, Board member
- 25SEC EDGARJohn C. Bolger, Board member
- 26SEC EDGARYun Yen, Board member
- 27
- 28
- 29