Fulgent Genetics: A Major Market Misconception

2026-03-12 09:11:46 ET

Introduction

After the Q4 2025 earnings report , Fulgent Genetics stock suffered a momentous single-day decline of almost 40%. The impetus for this decline was perhaps multi-pronged, but most notably, FLGT announced the in-process departure of their single largest customer, which accounted for $70.8 million, or 22% of total revenue in 2025. This put pressure on FLGT's gross margins and in turn their overall profitability, resulting in guidance for a non-GAAP loss of ($1.45) per share for full year 2026. FLGT also guided for a total year-end liquidity position of $685 million, down from roughly $800 million at the end of 2025. ...

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