Fulgent Genetics Reports Q4 Revenue Growth, Exceeds Estimates

Fulgent Genetics reported its fourth-quarter earnings for 2024, showcasing a revenue of $76.2 million, surpassing projections and reflecting a 14% year-over-year increase in core revenue from its laboratory services segment. Despite achieving strong revenue growth, the company faced a GAAP loss of $42.7 million for the year, which equated to a loss of $1.41 per share. Fulgent's continued investment in growth, including a strategic partnership with Foundation Medicine and advancements in clinical trials such as the Phase 2 trial of FID-007, highlights its commitment to future innovation. The company anticipates core revenue of around $310 million for 2025 as it focuses on expanding its therapeutic development and laboratory services. Additionally, Fulgent ended the year with $828.6 million in cash and investments, positioning itself well for future projects. Investors remain watchful of management's commentary on earnings and future expectations amidst the backdrop of fluctuating stock performance.