Fulgent Genetics Q2 Revenue Misses, Guidance Slashed as Gross Margin Halves
FLGT is trading near its 52-week low of $13.46 (2.5% above the low).
Summary
Fulgent Genetics missed Q2 expectations, slashed full-year guidance, and reported a sharp gross margin decline. The stock, already near a 52-week low, faces further pressure as operational challenges mount.
Key Events · Earnings and Guidance · FLGT
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Q2 Revenue Misses Expectations
Revenue of $85.4 million grew only 4% year-over-year, far below the trajectory needed to meet prior guidance. Sequential growth of 20.1% was overshadowed by the annual shortfall.
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Gross Margin Collapses to 30.1%
GAAP gross margin fell to 30.1% from 42.1% a year ago, driven by higher costs and billing system transition issues. Non-GAAP gross margin also dropped sharply to 31.3% from 44.2%.
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Full-Year Guidance Slashed
Management cut 2026 revenue guidance to $330–$340 million, down from prior expectations, citing processing delays from a revenue cycle management system transition. Non-GAAP loss per share is now expected to be $2.22–$2.35.
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Operating Loss Nearly Doubles
GAAP operating loss widened to $36.1 million from $19.7 million in Q2 2025, as operating expenses grew 14% while gross profit declined 25%.
Analysis · FLGT · Industrial Applications And Services
Fulgent Genetics reported Q2 2026 revenue of $85.4 million, a 4% year-over-year increase but well below the pace needed to hit prior guidance. Gross margin collapsed to 30.1% from 42.1% a year ago, driven by higher costs and billing system transition issues. The company slashed full-year revenue guidance to $330–$340 million, implying a sharp second-half deceleration. Operating loss nearly doubled to $36.1 million. The stock is trading near its 52-week low, and these results confirm deepening operational problems. The company bought back 1.5 million shares for $23.8 million, but that did little to offset the negative earnings surprise.
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In the 30 days to Sep 22, 2026, 34.8% of the 1044 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.43%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, FLGT was trading at $13.80 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $574M. The 52-week trading range was $13.46 to $31.04. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.