UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-37894 | --- | --- | --- | |-------------------------------------------|-------------------|------------------------------------------ ...

Fulgent Genetics, Inc. (NASDAQ:FLGT) Q4 2021 Earnings Conference Call February 23, 2022 4:30 PM ET Company Participants Nicole Borsje - Investor Relations Ming Hsieh - Chief Executive Officer Brandon Perthuis - Chief Commercial Officer Paul Kim - Chief Financial Officer Larry Weiss - Chief Medical Officer Conference Call Participants Kevin DeGeeter - Oppenheimer. Sung Ji Nam - BTIG David Westenberg - Piper Sandler Operator Good day and welcome to the Fourth Quarter 2021 Fulgent Genetics Earnings Conference ...

iuloent Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT Disclaimer 2 Forward-Looking Statements and Market Data This presentation contains forward-looking statements, which are statements other than those of historical facts and which represent the estimates and expectations of Fulgent Genetics, Inc. (the "Company") about future events based on current views and assumptions. Examples of forward-looking statements made in this presentation include, among others, those related its anticipated growt ...

Financial Data and Key Metrics Changes - Revenue totaled $228 million, representing a 124% increase compared to Q3 2020 and a 48% sequential increase [6][20] - Approximately 2.2 million tests were delivered in the quarter, more than doubling the volume from Q3 last year [6][20] - GAAP EPS was $3.93, with adjusted non-GAAP income of $126.3 million or $4.05 per diluted share [7][24] - Gross margin increased to 80.9%, up more than 6 percentage points year-over-year [22] Business Line Data and Key Metrics Changes - Core business revenue grew almost 300% year-over-year to over $40 million, driven by key areas including KSI, CSI, and revenue from China [7][20] - COVID-19 testing revenue accounted for approximately $180 million, exceeding guidance by about $100 million and growing 105% year-over-year [20][21] - Non-GAAP operating margin increased over 5 percentage points from the second quarter to 71.8% [23] Market Data and Key Metrics Changes - The company served over 1,000 schools and supported back-to-work mandates with a new online platform for vaccine records and testing results [18] - The company is expanding its presence in the Chinese market, with quarterly sales in the NGS test menu showing growth [10] Company Strategy and Development Direction - The company is focused on expanding its core NGS business and integrating the CSI acquisition to enhance its oncology capabilities [8][15] - A strategic investment in Helio Health aims to commercialize lab-developed tests, including the Helio Liver liquid biopsy test [11][12] - The company plans to aggressively expand its sales team to support growth in the oncology market and leverage managed care contracts [16][36] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the ongoing strength in core business and the potential for sustainable growth despite volatility in COVID testing [10][28] - The company anticipates total revenues of approximately $930 million for the year, up from previous guidance of $800 million, primarily driven by COVID-related testing [27][29] Other Important Information - The company ended the quarter with $877 million in cash, cash equivalents, and marketable securities, generating $152 million from cash operations [24][25] - The company is continuously evaluating M&A opportunities to complement its expanding platform [29] Q&A Session Summary Question: Can you quantify the portion of revenue that came from third-party reimbursement? - Management indicated that approximately 160 million lives are covered under insurance contracts, with most revenue coming from COVID testing [32] Question: How do you think about appropriate sizing for the clinical oncology sales force over the next 18 to 24 months? - Management believes the sales force will need to be significantly larger, focusing on states with strong managed care contracts [36] Question: How do you think about buybacks or balance sheet management given the current balance sheet profile? - Management stated that while buybacks are an option, the primary focus is on investing in the business and executing post-COVID M&A strategy [38]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37894 FULGENT GENETICS, INC. (exact name of registrant as specified in its charter) Delaware 81-2621304 (State or other juris ...

Exhibit 99.2 iulgent Founded in 2011 | Located in Los Angeles, CA | NASDAQ FLGT Disclaimer 2 Forward-Looking Statements and Market Data This presentation contains forward-looking statements, which are statements other than those of historical facts and which represent the estimates and expectations of Fulgent Genetics, Inc. (the "Company") about future events based on current views and assumptions. Examples of forward-looking statements made in this presentation include, among others, those related its anti ...

Fulgent Genetics, Inc. (NASDAQ:FLGT) Q2 2021 Earnings Conference Call August 9, 2021 4:30 PM ET Company Participants Nicole Borsje - Investor Relations Ming Hsieh - Chief Executive Officer Larry Weiss - Chief Medical Officer Brandon Perthuis - Chief Commercial Officer Paul Kim - Chief Financial Officer Conference Call Participants Kevin DeGeeter - Oppenheimer Steven Mah - Piper Sandler Katie Tryhane - Crédit Suisse Operator Good day, and welcome to the Fulgent Genetics 2Q 2021 Earnings Conference Call. At t ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-37894 FULGENT GENETICS, INC. (exact name of registrant as specified in its charter) Delaware 81-2621304 (State or other jurisdicti ...

Financial Data and Key Metrics Changes - The company reported Q1 2021 revenue of $359 million, an increase of over 4,500% compared to Q1 2020 and a 22% increase from the previous quarter [11][41] - Approximately 3.8 million tests were delivered in Q1, growing almost 290 times compared to Q1 last year [11][41] - Non-GAAP income was $202.9 million, or $6.59 per share, with adjusted EBITDA of $271.9 million [12][45] - The company ended the quarter with $697.4 million in cash, cash equivalents, and marketable securities [46] Business Line Data and Key Metrics Changes - COVID-19 testing business sustained high demand, processing over 3 million RT-PCR tests, which is approximately 284 times the volume from the same quarter last year [19][41] - Next-generation sequencing (NGS) revenue grew 115% year-over-year, with NGS volume increasing from 13,000 to 38,000 tests [21][42] - The majority of NGS revenue came from traditional genetic testing, with less than $1 million attributed to CDC contracts [53][56] Market Data and Key Metrics Changes - The company has a national presence, with significant operations in New York, California, and other states, adapting to a shift towards back-to-normalcy testing [71][72] - The CDC awarded the company a contract worth up to $47 million for COVID-19 genomic studies, enhancing its market position [28] Company Strategy and Development Direction - The company aims to expand its presence in the molecular diagnostics market, particularly in oncology testing, leveraging its scalable technology platform [14][18] - Plans to invest in technology and expand operations in China, targeting the growing genetic diagnostic market [16][17] - The company is actively evaluating M&A opportunities to fuel expansion and enhance its capabilities [18][40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about ongoing growth in both COVID-19 testing and traditional genetic testing, raising revenue guidance for NGS testing from $70 million to over $100 million for 2021 [48][49] - The company anticipates a test volume of 8.5 million to 9 million for 2021, representing a 93% year-over-year growth [49] - Management acknowledged the competitive landscape but emphasized their strong operational capabilities and cost structure as advantages [68][69] Other Important Information - The company has initiated a mobile vaccination fleet to support vaccine distribution, administering tens of thousands of doses [34][35] - The appointment of Dr. Larry Weiss as Chief Medical Officer is expected to enhance the company's oncology product development and strategy [14][36] Q&A Session Summary Question: How much of the NGS business was from core genetic testing versus COVID surveillance? - The bulk of the NGS business in Q1 came from traditional genetic testing, with less than $1 million from the CDC [53][56] Question: What is the expected transition of the $1.7 billion opportunity for American Rescue Plan? - The initial grant from the CDC is significantly larger than previous grants, indicating strong confidence in the company's capabilities [54][55] Question: What drove the strength in the core genetic testing business? - Growth is attributed to execution on traditional business, industry-leading cost structure, and expanded test menu, rather than new contracts with large payers [59][60] Question: How is the company planning to build out its sales force? - The company is actively recruiting talent and expanding its sales force to enhance market coverage and support new test introductions [81][82]

FORM 10-Q PART I—FINANCIAL INFORMATION [Item 1. Financial Statements (Unaudited)](index=3&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) Presents unaudited condensed consolidated financial statements for Q1 2021, covering balance sheets, income, equity, cash flows, and detailed accounting notes [Condensed Consolidated Balance Sheets](index=3&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) | Metric | March 31, 2021 (in thousands) | December 31, 2020 (in thousands) | | :------------------------- | :---------------------------- | :------------------------------- | | Total Assets | $999,083 | $700,461 | | Total Current Assets | $659,140 | $523,616 | | Cash and Cash Equivalents | $151,461 | $87,426 | | Marketable Securities | $258,317 | $211,941 | | Trade Accounts Receivable | $216,509 | $183,857 | | Total Liabilities | $197,517 | $131,074 | | Total Current Liabilities | $196,530 | $130,115 | | Total Stockholders' Equity | $801,566 | $569,387 | [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) | Metric | Three Months Ended March 31, 2021 (in thousands) | Three Months Ended March 31, 2020 (in thousands) | Change (YoY) | | :-------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | :----------- | | Revenue | $359,429 | $7,753 | +4536% | | Cost of Revenue | $74,075 | $4,057 | +1726% | | Gross Profit | $285,354 | $3,696 | +7621% | | Operating Expenses | $18,432 | $5,610 | +229% | | Operating Income (Loss) | $266,922 | $(1,914) | N/A | | Provision for Income Taxes | $66,513 | $34 | +195526% | | Net Income (Loss) | $200,691 | $(1,956) | N/A | | Basic Net Income (Loss) per Common Share| $6.96 | $(0.09) | N/A | | Diluted Net Income (Loss) per Common Share| $6.52 | $(0.09) | N/A | [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) | Metric | Three Months Ended March 31, 2021 (in thousands) | Three Months Ended March 31, 2020 (in thousands) | | :-------------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Net Income (Loss) | $200,691 | $(1,956) | | Other Comprehensive Loss: | | | | Foreign currency translation loss | — | $(3) | | Net unrealized loss on marketable securities, net of tax | $(654) | $(336) | | Comprehensive Income (Loss) | $200,037 | $(2,295) | [Condensed Consolidated Statements of Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Stockholders'%20Equity) | Metric | December 31, 2020 (in thousands) | March 31, 2021 (in thousands) | | :-------------------------------------- | :------------------------------- | :---------------------------- | | Total Equity | $569,387 | $801,566 | | Common Stock Shares | 28,178 | 28,989 | | Additional Paid-In Capital | $418,065 | $450,855 | | Accumulated Other Comprehensive Income (Loss) | $438 | $(216) | | Retained Earnings | $150,881 | $350,924 | - Net income of **$200,691 thousand** significantly increased retained earnings from **$150,881 thousand** at December 31, 2020, to **$350,924 thousand** at March 31, 2021[19](index=19&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) | Cash Flow Activity | Three Months Ended March 31, 2021 (in thousands) | Three Months Ended March 31, 2020 (in thousands) | | :---------------------------------- | :----------------------------------------------- | :----------------------------------------------- | | Net cash provided by operating activities | $233,179 | $1,366 | | Net cash used in investing activities | $(216,491) | $(3,862) | | Net cash provided by (used in) financing activities | $47,347 | $(164) | | Net increase (decrease) in cash and cash equivalents | $64,035 | $(2,663) | | Cash and cash equivalents at end of period | $151,461 | $9,302 | [Notes to the Condensed Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20the%20Condensed%20Consolidated%20Financial%20Statements) Detailed explanations and disclosures for the condensed consolidated financial statements, covering accounting policies, financial instruments, debt, leases, equity compensation, and related party transactions [Note 1. Overview and Basis of Presentation](index=8&type=section&id=Note%201.%20Overview%20and%20Basis%20of%20Presentation) - Fulgent Genetics, Inc. is a technology company providing comprehensive genetic testing and large-scale COVID-19 testing services, utilizing a proprietary platform for NGS and RT-PCR-based tests[27](index=27&type=chunk) - The company launched its patient-initiated product, Picture Genetics, in 2019, and has received Emergency Use Authorization (EUA) from the FDA for its RT-PCR-based COVID-19 tests and at-home testing service[27](index=27&type=chunk) [Note 2. Summary of Significant Accounting Policies](index=8&type=section&id=Note%202.%20Summary%20of%20Significant%20Accounting%20Policies) - The Company adopted ASU 2016-13 (Financial Instruments-Credit Losses) on January 1, 2021, resulting in a cumulative effect adjustment of **$887,000** to retained earnings and trade accounts receivable, net, and a cumulative tax effect of **$239,000** to retained earnings and deferred tax assets[52](index=52&type=chunk)[54](index=54&type=chunk) - ASU 2019-12 (Simplifying the Accounting for Income Taxes) was also adopted in Q1 2021 with no material impact[54](index=54&type=chunk) Revenue by Payor Type (in thousands) | Payor Type | Three Months Ended March 31, 2021 | Three Months Ended March 31, 2020 | | :------------ | :-------------------------------- | :-------------------------------- | | Insurance | $207,558 | $134 | | Institutional | $151,569 | $7,478 | | Patient | $302 | $141 | | Total Revenue | $359,429 | $7,753 | - One customer (County of Los Angeles) contributed **25% of total revenue** in Q1 2021, compared to no single customer contributing 10% or more in Q1 2020[37](index=37&type=chunk) [Note 3. Marketable Securities](index=12&type=section&id=Note%203.%20Marketable%20Securities) Marketable Securities (in thousands) | Category | March 31, 2021 (Aggregate Fair Value) | December 31, 2020 (Aggregate Fair Value) | | :------------------------------------- | :------------------------------------ | :--------------------------------------- | | Total Short-term Marketable Securities | $258,317 | $211,941 | | Total Long-term Marketable Securities | $287,626 | $132,502 | | Total Marketable Securities | $545,943 | $344,443 | | Gross Unrealized Losses | $1,264 | $298 | - The Company's marketable securities of **$420.2 million** are used as collateral for an outstanding margin account borrowing of **$15.0 million** as of March 31, 2021, used for real property purchase in 2020[57](index=57&type=chunk) [Note 4. Fair Value Measurements](index=13&type=section&id=Note%204.%20Fair%20Value%20Measurements) Financial Assets Measured at Fair Value (in thousands) | Category | March 31, 2021 (Total) | March 31, 2021 (Level 1) | March 31, 2021 (Level 2) | December 31, 2020 (Total) | December 31, 2020 (Level 1) | December 31, 2020 (Level 2) | | :---------------------------------------- | :--------------------- | :----------------------- | :----------------------- | :------------------------ | :-------------------------- | :-------------------------- | | Total Marketable Securities and Cash Equivalents | $600,490 | $234,821 | $365,669 | $391,904 | $218,255 | $173,64