Fulgent Genetics Inc

NASDAQ:FLGTUnited States

07:03 AM EST, 11/08/2024 (MT Newswires) -- ...

------- ------- ------- ------- Adjusted EBITDA $ 351 $ 18,138 $ (3,610) $ 8,263 ======= ======= ======= ======= FULGENT GENETICS, INC. Non-GAAP Operating Margin Three and Nine Months Ended September 30, 2024 and 2023 (in thousands) Three Months Ended Nine Months Ended September 30, September 30, ------------------------ -------------------------- 2024 2023 2024 2023 ----------- ----------- ------------ ------------ Revenue $71,743 $84,687 $207,256 $218,708 Cost of revenue 44,972 44,843 131,890 139,481 ------ ------ ------- ------- Gross profit 26,771 39,844 75,366 79,227 ------ ------ ------- ------- Gross margin 37.3% 47.0% 36.4% 36.2% Equity-based compensation included in cost of revenue 1,940 2,621 5,948 7,374 ------ ------ ------- ------- Non-GAAP gross profit 28,711 42,465 81,314 86,601 Non-GAAP gross margin 40.0% 50.1% 39.2% 39.6% Operating expenses 43,850 39,630 133,149 123,635 Equity-based compensation included in operating expenses 8,980 8,281 28,125 24,116 Amortization of intangible assets 1,993 1,957 5,973 5,887 ------ ------ ------- ------- Non-GAAP operating expenses 32,877 29,392 99,051 93,632 ------ ------ ------- ------- Non-GAAP operating loss $(4,166) $13,073 $(17,737) $ (7,031) ====== ====== ======= ======= Non-GAAP operating margin -5.8% 15.4% -8.6% -3.2%