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Fulgent Genetics (FLGT) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Fulgent Genetics (FLGT) Q3 2026 earnings results →
Q3 2026 Revenue up 8% year over year to $90.4M · 15¢ of every $1 of revenue lost · operating margin -24.9%
Fulgent Genetics made $90.4M in Q3 2026 (+8% Y/Y). Operating margin -24.9%, net loss $13.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
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What changed this quarter
Revenue was $90.4M in Q3 2026, up 8% year over year and up 6% from the previous quarter.
Gross margin was 35.3%, down 6.9 points from Q3 2025. Operating costs exceeded revenue by $22.5M, an operating margin of -24.9%. Operating expenses grew 7% against revenue growth of 8%. The fastest-growing cost line was Sales & marketing (+34%). The quarter ended with a net loss of $13.3M, narrower than the previous quarter's $29.7M loss. Minority interests bore $187K of it: to shareholders the quarter was a loss of $13.2M. Non-operating items added $8.5M, -61% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $109.2M (up 883% year over year). Non-cash charges added back $6.8M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items added $107.6M. Capital expenditures of $1.8M left free cash flow of $107.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $90.4M | +8% | -24.9% | −$13.3M | $109M |
| Q2 2026 | 10-Q | Jul 30, 2026 | $85.4M | +4% | -42.2% | −$29.7M | −$23.8M |
| Q1 2026 | 10-Q | May 1, 2026 | $71.1M | -3% | -48.7% | −$25.3M | $7.1M |
| Q4 2025 | 10-K | Feb 27, 2026 | $83.3M | +9% | -43.5% | −$23.6M | −$78.1M |
| Q3 2025 | 10-Q | Nov 7, 2025 | $84.1M | +17% | -18.3% | −$6.8M | $11.1M |
| Q2 2025 | 10-Q | Aug 1, 2025 | $81.8M | +15% | -24.1% | −$19.3M | −$30.2M |
| Q1 2025 | 10-Q | May 2, 2025 | $73.5M | +14% | -26.9% | −$11.9M | −$4.4M |
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🔄Rotation against the market and its industry (RRG)interactive
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Customers and suppliers named in filings
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About Fulgent Genetics
We are a technology-based company with a well-established laboratory services business and a therapeutic development business. Our laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Our therapeutic development business is focused on developing product candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile, or PK profile, of new and existing cancer drugs.
In its own words, from its 10-K, filed Feb 27, 2026.
Fulgent Genetics against its Services-Medical Laboratories peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +8% against the peers' median +10%. Operating margin: -24.9% against the peers' median 6.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FLGT Fulgent Genetics | Q3 2026 | $90.4M | +8% | -24.9% |
| LH Labcorp Holdings | Q3 2026 | $3.8B | +7% | 10.6% |
| DGX Quest Diagnostics | Q3 2026 | $3.1B | +10% | 15.5% |
| NTRA Natera | Q3 2026 | $794M | +34% | -8.6% |
| FTRE Fortrea Holdings | Q3 2026 | $692M | -1% | 2.2% |
| RDNT RadNet | Q2 2026 | $623M | +25% | 6.3% |
| GH Guardant Health | Q3 2026 | $361M | +36% | -36.8% |
| CAI Caris Life Sciences | Q3 2026 | $275M | +27% | 7.0% |
| LMRI Lumexa Imaging Holdings | Q2 2026 | $264M | +5% | 8.7% |
Source: Fulgent Genetics 10-Q on SEC EDGAR · CIK 1674930 · Services-Medical Laboratories
Guidance and outlook
13F: who owns FLGT and who is buying
More on FLGT
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results