Why Did Fulgent Genetics, Inc. (NASDAQ:FLGT) Report a Smaller Non-GAAP Loss on $90.4 Million Revenue?

Sonal Goyal

06 November 2026 11:01 PM AEDT

Why Did Fulgent Genetics, Inc. (NASDAQ:FLGT) Report a Smaller Non-GAAP Loss on $90.4 Million Revenue?

Image Source: Shutterstock

You are reading a free article with opinions that may differ from the recommendation given by Kalkine in its paid research reports. Become a Kalkine member today to get access to our research reports, in-depth technical and fundamental research. Learn more

Start Your Free Trial Now!

Key Highlights

Revenue for the third quarter of 2026 was $90.4 million.
GAAP loss was $13.2 million, or $0.48 per share.
Non-GAAP loss was $2.4 million, or $0.09 per share.
Adjusted EBITDA loss was $7.5 million for the quarter.

Fulgent Genetics, Inc. (NASDAQ:FLGT) described itself as a technology-based company with a laboratory services Business and a therapeutic development business. The company reported third quarter 2026 Revenue of $90.4 million, a GAAP loss of $13.2 million, or $0.48 per share, and a non-GAAP loss of $2.4 million, or $0.09 per share. Adjusted EBITDA loss came to $7.5 million. Chairman and Chief Executive Officer Ming Hsieh pointed to momentum in the company's therapeutics pipeline and to disciplined spending.

Revenue and Business Segments

Quarterly revenue of $90.4 million reflects the combined activity of the laboratory and therapeutic businesses. The release describes the laboratory services unit as well established, while the therapeutic development unit is at an earlier commercial stage. The mix between these two areas shapes how the company's revenue relates to its cost base over time.

Loss Measures and Spending

The gap between the GAAP loss of $13.2 million and the non-GAAP loss of $2.4 million reflects items the company excludes from its adjusted measure, including non-cash charges.

The company stated that it delivered disciplined spending across the business, and that spending supported its non-GAAP loss and cash guidance. The adjusted EBITDA loss of $7.5 million shows that operating costs continued to exceed the adjusted Earnings contribution during the quarter.

Therapeutic Pipeline Progress

Chairman and Chief Executive Officer Ming Hsieh said the company was encouraged by the momentum in its therapeutics pipeline, with two programs, FID-007 and FID-022, using the company's nano-drug delivery platform. Those programs represent the company's longer-term development strategy, and their progress is typically measured by clinical milestones rather than quarterly revenue.

The third quarter results therefore show the company funding its development work through its existing laboratory operations.

Final Takeaways

Fulgent Genetics reported a third quarter with revenue of $90.4 million, a GAAP loss and a smaller non-GAAP loss, along with continued progress in its therapeutic programs. The results show a company balancing a laboratory business that supports revenue against the cost of developing new therapies. Future quarters will indicate whether the narrower adjusted loss holds as pipeline spending continues.

Download Free Report – Explore 3 Stock Ideas & Industry Insights

Unlock 3 stock ideas and key industry insights in our free report. This information is general in nature and does not consider your personal objectives, financial situation, or needs. It is not financial advice.

All investments involve risk—consider independent advice before making any investment decisions.

View 3 Research Reports

Disclaimer:

This article (“Article”) has been prepared by Kalkine Pty Limited (ABN 34 154 808 312) (Australian financial services licence number 425376) (“Kalkine”) and its related bodies corporate who are authorised to provide general financial product advice. Kalkine.com.au and its associated pages are published by Kalkine.

Any information/advice provided in this article is general in nature and does not take into account your objectives, financial situation or needs. You should therefore consider whether the information is appropriate for your objectives, financial situation and needs before acting upon it.

There may be a Product Disclosure Statement, Information Memorandum or other offer document (“Offer Document”) for the securities or other financial products referred to in Kalkine articles. You should obtain a copy of the Offer Document and consider it before making any decision about whether to acquire the security or financial product.

Kalkine strongly recommends that you seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) before acting on any advice/information in this Article or on the Kalkine website. Not all investments are appropriate for all people.

The information in this Article and on Kalkine website has been prepared from a wide variety of sources, which Kalkine, to the best of its knowledge and belief, considers accurate. Kalkine has made every effort to ensure the reliability of the information contained in its articles (including this Article), newsletters and websites. All information represents our views at the date of publication and may change without notice.

The information in this Article does not constitute an offer to sell securities or other financial products or a solicitation of an offer to buy securities or other financial products.

Kalkine does not issue, sell or deal in any financial products.

This Article may contain information on past performance of particular investments. Please note past performance is neither an indicator nor a guarantee of future performance.

To the extent permitted by law, and excluding any dishonesty or gross negligence by Kalkine, Kalkine disclaims and excludes all liability for any direct, indirect, implied, punitive, special, incidental or other consequential loss or damage arising from the use of or reliance on this Article, the Kalkine website and any information published on the Kalkine website without any warranties or representations by Kalkine to you. To the extent the law prohibits or limits this exclusion, Kalkine limits its liability to the resupply of services.

Please also read our Terms & Conditions and Financial Services Guide for further information.

Employees and/or associates of Kalkine and its related entities may hold interests in the securities or other financial products covered in this Article or on the Kalkine website. Any such employees and associates are required to comply with certain safeguards, procedures and disclosures as required by law.

Some of the images/music that may be used in the Article are copyright to their respective owner(s). Kalkine does not claim ownership of any of the pictures displayed/music used in the Article unless stated otherwise. The images/music that may be used in the Article are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated or was found to be necessary.

Kalkine Media Pty Ltd, an affiliate of Kalkine Pty Ltd, may have received, or be entitled to receive, financial consideration in connection with providing information about certain entity(s) covered on its website.