FLGT - Fulgent surges on premarket after record revenue

Fulgent Genetics (FLGT) has risen ~27.4% in the premarket after a sizable beat in the Q4 2020 earnings.2020 revenue has increased ~13.0x from the previous year to reach ~$421.7M after the quarterly revenue rose ~35.2x to ~$295.0M. However, non-COVID revenue for Q4 2020 has risen only ~43% YoY.Billable tests have increased ~230.0x to reach 3.2M driving the full-year test volumes to increase ~74.6x to ~4.4M.In terms of GAAP income, Fulgent has swung back to profits recording $6.16 and $8.91 diluted EPS from a diluted net loss per share of $0.01 and $0.02 for Q4 2020 and full year 2020, respectively.The cash and equivalents have risen ~7.3x to reach $87.4M compared to $12.0M in 2019.For Q1 2021 and full year 2021, the company guides $325M and $800M of revenue implying ~10.2% and ~89.7% YoY growth, respectively. For the full year, the company anticipates ~8.8% or $70M revenue to come from NGS testing with a

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Fulgent surges on premarket after record revenue