Fulgent Genetics reported third‑quarter 2025 results on November 7, 2025, with revenue of $84.1 million—up 17 % year‑over‑year—from $71.7 million in Q3 2024. Net loss narrowed to $6.61 million, compared with a $14.65 million loss in the same quarter last year. GAAP earnings per share were a loss of $0.21, while non‑GAAP EPS rose to $0.14, beating the consensus estimate of a $0.24 loss by $0.38 per share (a 158 % upside).
Revenue growth was driven by a shift in the company’s mix toward its Precision Diagnostics and Biopharma Services segments, which together accounted for the majority of the $84.1 million. The nine‑month revenue for the period ended September 30 was $239.34 million, a figure that the original article incorrectly reported as the quarterly amount. COVID‑19 testing revenue was negligible, underscoring the company’s successful transition away from pandemic‑era testing.
Gross margin expanded to 42.2 % from 37 % a year earlier, reflecting higher‑margin laboratory services and improved cost control. Operating loss fell to $15.35 million, down from $17.1 million, as the company leveraged scale and disciplined spending while investing in its therapeutic pipeline. Cash and cash equivalents stood at $787.7 million, a substantial liquidity cushion that supports ongoing laboratory and biopharma investments.
Management raised its full‑year 2025 guidance, lifting revenue outlook to $325 million and adjusting EPS guidance to a GAAP loss of $1.70 per share and a non‑GAAP income of $0.30 per share. The upward revision signals confidence in sustained demand for precision‑medicine services and the continued progress of the company’s therapeutic candidates. CEO Ming Hsieh highlighted the “good start” of the Phase I dose‑escalation of FID‑022 and the promising enrollment in the Phase II study of FID‑007, while CFO Paul Kim emphasized the company’s ability to close 2025 in a position of strength with a healthy balance sheet.
The earnings beat and guidance upgrade were key drivers of the market’s positive reaction, with analysts noting the company’s ability to convert a previously negative outlook into a profitable quarter and to project stronger growth for the remainder of the year. The results reinforce Fulgent’s strategic pivot from legacy COVID‑19 testing to a diversified precision‑medicine and biopharma services model, positioning it for continued expansion in high‑margin laboratory services and therapeutic development.
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