Published on 28 Feb 2024 on GuruFocus.com via Yahoo Finance
Total Revenue: $289.2 million for the full year; $70.5 million for Q4 2023.Core Revenue Growth: Up 44% year-over-year to $262.1 million for the full year; 21% increase to $66.5 million for Q4.GAAP Net Loss: $167.8 million for the full year, equating to $5.63 per share; $128.1 million for Q4, or $4.30 per share.Non-GAAP Income/Loss: Non-GAAP loss of $12.3 million for the full year; income of $8.3 million for Q4.Cash Position: Ended 2023 with $847.7 million in cash, cash equivalents, and marketable securities.Stock Repurchase: Over 953,000 shares repurchased in 2023 at a cost of $25.1 million.2024 Outlook: Core Revenue projected at approximately $280 million with an anticipated GAAP loss of $2.25 per share.
Warning! GuruFocus has detected 3 Warning Sign with FLGT.
Fulgent Genetics Inc (NASDAQ:FLGT) released its 8-K filing on February 28, 2024, revealing a mix of robust core revenue growth and a significant GAAP net loss for the full year and fourth quarter of 2023. The company, known for its genetic testing services and therapeutic development, reported a year-over-year increase in core revenue, which excludes revenue from COVID-19 testing, showcasing the strength of its primary business operations.