Fulgent Genetics (FLGT) Q3 FY2026 earnings: revenue $90 million, up 7.5% on the year

Fulgent Genetics, Inc. (FLGT) reported revenue of $90 million for Q3 FY2026, the quarter ended 30 September 2026, up 7.5% on the same quarter a year earlier. Net income was -$13 million, and diluted earnings per share $-0.48. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$90 million

+7.5% on the year · +5.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

-24.9%

-18.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

-$13 million

Q4 FY2024Q3 FY2026

Diluted EPS

-$0.48

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 2 raised, 3 lowered, 1 kept.

Revenue rose about 8% year over year: Revenue was $90.4 million against $84.1 million in the third quarter of 2025. Nine-month revenue was $246.9 million against $239.3 million.
GAAP gross margin fell to 35.3%: GAAP gross margin was 35.3% against 42.2% a year earlier. Non-GAAP gross margin was 36.3% against 44.3% in the same period.
Collection rates improved in the quarter: The CFO attributed third-quarter results to better collection rates, after second-quarter processing delays had affected collection rates.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	90.4	85.4	84.1	+5.9%	+7.5%
Cost of revenue	58.5	59.7	48.6	-2.1%	+20.4%
Gross profit	31.9	25.7	35.5	+24.4%	-10.0%
Gross margin	35.3%	30.1%	42.2%
Research and development	13.6	14.6	13.9	-6.3%	-1.6%
Operating income	-22.5	-36.1	-15.3
Operating margin	-24.9%	-42.2%	-18.3%
Interest expense	0.0	0.1	0.0	-88.1%	-75.0%
Pre-tax income	-14.0	-29.7	-7.5
Income tax	-0.7	0.0	-0.7
Net income	-13.2	-29.5	-6.6
Net margin	-14.5%	-34.6%	-7.9%
Diluted EPS	-$0.48	-$1.05	-$0.21

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	109	-23.8	11.1		+883.5%
Capital expenditure	1.8	3.9	6.0	-53.7%	-70.4%
Free cash flow	107	-27.6	5.1		+2,024.7%
Free cash flow margin	118.8%	-32.3%	6.0%
Cash from investing	-48.0	50.8	19.1
Cash from financing	-0.7	-24.2	-0.4
Depreciation and amortisation	6.7	7.6	5.9	-12.0%	+12.9%
Share-based compensation	8.1	8.6	9.7	-5.8%	-16.4%
Buybacks	0.3	23.8	0.0	-98.9%
Diluted shares, weighted	28m	28m	31m	-1.2%	-10.0%
Shares outstanding at period end	28m	28m	31m	+0.9%	-10.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	990	1,002	1,126	-1.1%	-12.0%
Non-controlling interest	-5.8	-5.6	-5.1
Debt	1.5	1.5	2.0	0.0%	-24.6%
Operating lease liabilities	6.2	5.6	3.6	+10.7%	+71.4%
Finance lease liabilities	0.0	0.0	0.1
Other liabilities	86.5	86.2	88.1	+0.4%	-1.8%
Total liabilities and equity	1,079	1,089	1,215	-0.9%	-11.2%
Fixed assets	111	113	112	-2.1%	-1.0%
Goodwill	53.9	53.9	25.1	0.0%	+114.8%
Intangible assets	147	149	135	-1.6%	+8.5%
Investments	566	525	412	+7.7%	+37.3%
Cash and equivalents	86.8	26.3	118	+229.9%	-26.2%
Receivables	62.5	64.9	71.2	-3.8%	-12.2%
Inventory	0.7	0.8	n/a	-16.6%
Other assets	52.1	156	342	-66.6%	-84.8%
Total assets	1,079	1,089	1,215	-0.9%	-11.2%

Questions

What was Fulgent Genetics' revenue in Q3 FY2026?

Fulgent Genetics (FLGT) reported revenue of $90 million for Q3 FY2026, the quarter ended 30 September 2026, up 7.5% on the same quarter a year earlier.

How much did Fulgent Genetics earn in Q3 FY2026?

Net loss for Q3 FY2026 was $13 million, and the diluted loss per share $0.48.

When did Fulgent Genetics report Q3 FY2026 results?

Fulgent Genetics filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 †	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	252	320	125	106	67.7	66.2	67.9	84.7	70.5	64.5	71.0	71.7	76.2	73.5	81.8	84.1	83.3	71.1	85.4	90.4
Cost of revenue	62.1	77.7	60.1	59.6	54.7	47.4	47.3	44.8	45.3	42.4	44.5	45.0	44.4	45.1	47.4	48.6	50.8	49.6	59.7	58.5
Gross profit	190	243	65.3	46.1	13.0	18.8	20.6	39.8	25.2	22.1	26.5	26.8	31.8	28.3	34.4	35.5	32.6	21.5	25.7	31.9
Gross margin	75%	76%	52%	44%	19%	28%	30%	47%	36%	34%	37%	37%	42%	39%	42%	42%	39%	30%	30%	35%
R&D	7.5	6.0	6.9	7.5	8.5	9.8	9.7	10.0	12.0	11.4	13.5	11.8	12.1	12.4	13.5	13.9	14.2	14.2	14.6	13.6
Operating income	151	202	12.8	0.4	-36.6	-24.8	-19.8	0.2	-151	-21.8	-18.9	-17.1	-16.1	-19.8	-19.7	-15.3	-36.2	-34.6	-36.1	-22.5
Operating margin	60%	63%	10%	0%	-54%	-38%	-29%	0%	-214%	-34%	-27%	-24%	-21%	-27%	-24%	-18%	-43%	-49%	-42%	-25%
Interest expense	0.0	0.0	0.1	0.1	0.2	0.2	0.1	0.0	-0.1	-0.2	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.1	0.0
Pre-tax income	151	202	13.8	1.8	-33.5	-21.0	-14.7	6.9	-145	-14.2	-11.2	-18.5	-8.0	-11.7	-21.5	-7.5	-29.3	-26.0	-29.7	-14.0
Tax rate	31%	24%	19%	24%	n/a	n/a	n/a	296%	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Net income	104	154	11.5	1.7	-23.8	-15.3	-11.2	-13.1	-128	-13.5	-8.7	-14.6	-5.9	-11.5	-19.0	-6.6	-23.4	-24.8	-29.5	-13.2
Net margin	41%	48%	9%	2%	-35%	-23%	-17%	-15%	-182%	-21%	-12%	-20%	-8%	-16%	-23%	-8%	-28%	-35%	-35%	-15%
Diluted EPS	$3.34	$4.93	$0.37	$0.06	-$0.73	-$0.52	-$0.38	-$0.44	-$4.30	-$0.45	-$0.29	-$0.48	-$0.19	-$0.37	-$0.62	-$0.21	-$0.76	-$0.80	-$1.05	-$0.48
Operating cash flow	77.1	188	11.1	20.8	33.2	-7.9	9.7	10.2	14.9	7.3	4.3	-15.5	25.0	-4.4	-30.2	11.1	-78.1	7.1	-23.8	109
Capital expenditure	6.0	5.4	3.3	5.4	4.7	2.0	12.1	4.9	3.1	4.1	12.9	19.5	3.8	4.7	6.8	6.0	5.0	5.2	3.9	1.8
Free cash flow	71.1	183	7.9	15.3	28.5	-9.9	-2.4	5.3	11.8	3.2	-8.7	-35.0	21.2	-9.1	-37.0	5.1	-83.1	1.9	-27.6	107
Buybacks	n/a	n/a	n/a	34.7	n/a	n/a	n/a	n/a	n/a	0.2	0.0	0.0	0.0	8.7	2.2	0.0	0.0	40.1	23.8	0.3
Shares outstanding	30m	30m	30m	30m	29m	30m	30m	30m	30m	30m	30m	31m	31m	31m	31m	31m	31m	29m	28m	28m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.