Nov. 09, 2020 4:26 PM ET Fulgent Genetics, Inc. (FLGT) By: Meghavi Singh, SA News Editor 12 Comments Fulgent Genetics (NASDAQ: FLGT ) : Q3 Non-GAAP EPS of $2.08 beats by $1.53 ; GAAP … Fulgent Genetics, Inc. (NASDAQ:FLGT) shares traded down 9.4% during mid-day trading on Thursday following insider selling activity. If you invested a modest $1,000 into shares of Fulgent Genetics (NASDAQ:FLGT) back in January, that investment would have turned into $3,750 as of Dec. 8. Fulgent Genetics News . TEMPLE CITY, Calif., Nov. 23, 2020 (GLOBE NEWSWIRE) -- Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics” or the “company”), a technology company providing comprehensive testing … However, Fulgent Genetics' main business of genetic testing for cancer patients and parents-to-be has been negatively impacted by COVID-19 lockdowns, so demand for those services should benefit if widespread testing results in more people visiting doctors. Let's conquer your financial goals together...faster. It intends to provide tests to hospitals and medical … Non-GAAP income (loss) and adjusted EBITDA are described below under “Note Regarding Non-GAAP Financial Measures” and are reconciled to the most directly comparable GAAP financial measure, GAAP income (loss), in the accompanying tables. The call can be accessed through a live audio webcast in the Investors section of the company’s website, http://ir.fulgentgenetics.com, and through a live conference call by dialing (855) 321-9535 using the conference ID 1466548. Overall, the genetic-testing market is expected to eclipse $10 billion by 2022 worldwide, so Fulgent Genetics' current sales suggest it has plenty of potential to produce meaningful revenue growth regardless of how the COVID-19 marketplace evolves. If management thought … Press and industry analysts are invited to attend in listen-only mode. Fulgent Genetics downgraded to market perform from outperform at Raymond James Nov. 7, 2017 at 8:25 a.m. Fulgent Genetics Inc. [NASDAQ: FLGT] gained 6.44% or 2.94 points to close at $48.57 with a heavy trading volume of 2508521 shares. Fulgent could customize tests for customers, for about 5,700 different genetic conditions. We expect to continue investing in our platform to expand our capabilities as we look to capture share in the broader genetic testing market in the future. Fulgent Genetics, Inc. (FLGT) Quote Overview » News » Fulgent Genetics, Inc. (FLGT) ... FULGENT GENETIC (FLGT) delivered earnings and revenue surprises of 1600.00% and 18.91%, … The company’s stock price has collected 1.98% of gains in the last five trading sessions. However, a previous Abbott Labs test drew criticism over potential false positives, so investors will want to wait and see how the test performs following its launch. The company, currently valued at $1.21 Billion, closed the … For the fourth quarter of 2020, the company expects to generate revenue of at least $110 million. Get the latest Fulgent Genetics Inc (FLGT) real-time quote, historical performance, charts, and other financial information to help you make more informed trading and investment decisions. Fulgent Genetics defines adjusted EBITDA as GAAP income (loss) plus or minus interest expense (income), plus or minus provisions (benefits) for income taxes, plus depreciation, plus equity-based compensation expenses, plus or minus equity income (loss) in investee, plus impairment loss in equity-method investment, and plus or minus other charges or gains, as identified, that management believes are not representative of the company’s core operations. (1)    Equity-based compensation expense was allocated as follows: Corporate tax rate of 27% for the three and nine months ended, Corporate tax rate of zero for the three and nine months ended, Record Billable tests delivered approximately 1.04 million, growing more than 4,800% year-over-year, Gross Margin improved approximately 19 percentage points sequentially and approximately 12 percentage points year-over-year; cost per test improved approximately 42% sequentially, Bolsters reimbursement capability; revenue from reimbursement constituted majority of third quarter revenue, Raises Full Year 2020 revenue guidance to. GAAP income for the third quarter of 2020 was $46.6 million, or $1.98 per share, and non-GAAP income was $49.0 million, or $2.08 per share. In 2003, Todd founded E.B. Adjusted EBITDA was $67.4 million in the third quarter of 2020, compared to $3.0 million in the third quarter of 2019. In Q2, sales surged 105% year over year to $17.3 million because of significant COVID-19 test demand, resulting in adjusted earnings per share of $0.17, which was $0.19 better than industry watchers' forecast. We expect to see continued momentum across our business in the fourth quarter, and are pleased to be raising our revenue guidance for the full year. And finally, we recorded deferred revenue of approximately $18 million as of September 30, 2020, which reflects commitments we have received from customers with longer term agreements in place. These risks and uncertainties include, among others: the ongoing impacts of the COVID-19 pandemic, including the preventive public health measures that may continue to impact demand for its tests and the pandemic’s effects on the global supply chain; the market potential for, and the rate and degree of market adoption of, the company’s tests, including its newly-developed tests for COVID-19 and genetic testing generally; the company’s ability to capture a sizable share of the developing market for genetic and COVID-19 testing and to compete successfully in these markets, including its ability to continue to develop new tests that are attractive to its various customer markets, its ability to maintain turnaround times and otherwise keep pace with rapidly changing technology; the company’s ability to maintain the low internal costs of its business model, particularly as the company makes investments across its business; the company’s ability to maintain an acceptable margin on sales of its tests, particularly in light of increasing competitive pressures and other factors that may continue to reduce the company’s sale prices for and margins on its tests; risks related to volatility in the company’s results, which can fluctuate significantly from period to period; risks associated with the composition of the company’s customer base, which can fluctuate from period to period and can be comprised of a small number of customers that account for a significant portion of the company’s revenue; the company’s ability to grow and diversify its customer base and increase demand from existing and new customers; the company’s investments in its infrastructure, including its sales organization and operational capabilities, and the extent to which these investments impact the company’s business and performance and enable it to manage any growth it may experience in future periods; the company’s level of success in obtaining coverage and adequate reimbursement and collectability levels from third-party payors for its tests; the company’s level of success in establishing and obtaining the intended benefits from partnerships, joint ventures or other relationships; the company’s compliance with the various evolving and complex laws and regulations applicable to its business and its industry; risks associated with the company’s international operations; the company’s ability to protect its proprietary technology platform; and general industry, economic, political and market conditions. Shares of Fulgent Genetics, Inc. (NASDAQ:FLGT) reached a new 52-week high during trading on Thursday . This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Fulgent Genetics' stock was trading at $10.06 on March 11th, 2020 when COVID-19 … About Fulgent Genetics Fulgent Genetics’ proprietary technology platform has created a broad, flexible test menu and the ability to continually expand and improve its proprietary genetic reference library … Fulgent Genetics, Inc., a technology company, focuses on providing genetic testing services to physicians with clinically actionable diagnostic information. For Immediate ReleaseChicago, IL – December 15, 2020 – Stocks in this week’s article are Winnebago Industries WGO, General Motors Company GM, 360 DigiTech, Inc. QFIN, Fulgent Genetics, … See you at the top! 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