Fulgent Genetics(FLGT) - 2025 Q3 - Quarterly Results

Financial Performance - Revenue for Q3 2025 was $84.1 million, representing a 17% year-over-year growth[5] - GAAP loss for Q3 2025 was $6.6 million, or ($0.21) per share; Non-GAAP income was $4.5 million, or $0.14 per share[6] - GAAP gross profit was $35.5 million, with a GAAP gross margin of 42.2%; Non-GAAP gross profit was $37.2 million, with a Non-GAAP gross margin of 44.3%[5] - Revenue for Q3 2025 was $84,069,000, a 17.1% increase from $71,743,000 in Q3 2024[20] - Gross profit for Q3 2025 was $35,512,000, compared to $26,771,000 in Q3 2024, resulting in a gross margin of 42.2% versus 37.3%[20][23] - Operating loss for Q3 2025 was $15,350,000, an improvement from a loss of $17,079,000 in Q3 2024[20] - Net loss attributable to Fulgent for Q3 2025 was $6,608,000, compared to $14,648,000 in Q3 2024[21] - Non-GAAP income attributable to Fulgent for Q3 2025 was $4,521,000, down from $9,438,000 in Q3 2024[21] - Non-GAAP adjusted EBITDA for Q3 2025 was $708,000, compared to $351,000 in Q3 2024[22] - Total operating expenses for Q3 2025 were $50,862,000, compared to $43,850,000 in Q3 2024[20] - Non-GAAP operating margin for Q3 2025 was -4.2%, improving from -5.8% in Q3 2024[23] Guidance and Future Expectations - Full year 2025 revenue guidance raised to $325.0 million[5] - Full year 2025 EPS guidance updated to a GAAP loss of approximately ($1.70) per share and Non-GAAP income of approximately $0.30 per share[5] - The company expects to receive approximately $106 million in tax refunds prior to December 31, 2025, which may be delayed due to the current government shutdown[7] Assets and Cash Position - Cash, cash equivalents, restricted cash, and investments in marketable securities totaled $787.7 million at the end of Q3 2025[5] - Total assets as of September 30, 2025, were $1,214.6 million, with total stockholders' equity of $1,120.8 million[19] Research and Development - The company is advancing clinical trials for FID-007 and FID-022, demonstrating progress in therapeutic development[4] - Research and development expenses for Q3 2025 were $13,860,000, up from $11,783,000 in Q3 2024[20] Business Transformation - The company aims to transform from a diagnostic business into a fully integrated precision medicine company[12] Selling and Marketing Expenses - Selling and marketing expenses for Q3 2025 increased to $11,642,000 from $9,124,000 in Q3 2024[20]