FLGT - Fulgent Is Putting Its Cash Bonanza To Work

• The company has raked in well over $1B of cash from its epic Covid testing ramp up, apart from a host of contacts and putting the company on the map.
• It is spending some of that on acquisitions and a massive stock buyback that is yet to commence.
• However, this is counterbalanced by profitability taking a sharp downward turn as testing volume declines on Covid declines.
• It isn't entirely clear whether this is just a volume effect but some of it is likely also the result of Covid testing being more profitable than their core NGS test business.

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