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Fulgent Genetics cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$107M in Q3 2026 · −$1.4M over twelve months

Operating cash flow$109M
Capital spending−$1.8M
Free cash flow+$107M
Cash conversion cycle40 days

Analysis

In Q3 2026, Fulgent Genetics generated $109M of operating cash flow and spent $1.8M on capital projects, leaving free cash flow of $107M. That is $102M more than in Q3 2025 ($5.1M).

Over the twelve months to Sep 30, 2026, operating cash flow was $14.4M; the largest uses were buybacks ($64.1M), acquisitions ($55.9M), capital spending ($15.8M); besides operations, cash came from other investing ($96.5M), shares issued ($12K); the cash balance fell by $30.9M.

Operating cash flow was $109M against net income of −$13.3M. The largest differences: income taxes payable +$108M, stock-based pay +$8.1M, depreciation & amortization +$6.8M.

Its cash conversion cycle was 40 days (receivables 65 + inventory 1 − payables 26).

Free cash flow

Fulgent Genetics: free cash flow by quarterFulgent Genetics: free cash flow by quarter$21.2MQ4 2024−$9.1MQ1 2025−$37.0MQ2 2025$5.1MQ3 2025−$83.1MQ4 2025$1.9MQ1 2026−$27.6MQ2 2026$107MQ3 2026
Operating cash flow less capital spending.
Fulgent Genetics: operating cash flow against capital spendingFulgent Genetics: operating cash flow against capital spendingOperating cash flowCapital spending$25.0M$3.8MQ4 2024−$4.4M$4.7MQ1 2025−$30.2M$6.8MQ2 2025$11.1M$6.0MQ3 2025−$78.1M$5.0MQ4 2025$7.1M$5.2MQ1 2026−$23.8M$3.9MQ2 2026$109M$1.8MQ3 2026
Latest (Q3 2026): Operating cash flow $109M, Capital spending $1.8M.

Capital allocation, year by year

Fulgent Genetics: where the cash came from (up) and went (down), by fiscal yearFulgent Genetics: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow $539MFY2021: Net borrowing −$7KFY2021: Shares issued $89.6MFY2021: Asset sales $63KFY2021: Capital spending −$23.8MFY2021: Acquisitions −$61.9M$628MFY2021FY2022: Operating cash flow $254MFY2022: Net borrowing −$700KFY2022: Shares issued $31KFY2022: Asset sales $412KFY2022: Capital spending −$18.8MFY2022: Acquisitions −$173MFY2022: Buybacks −$74.3M$254MFY2022FY2023: Operating cash flow $27.0MFY2023: Net borrowing −$19.3MFY2023: Shares issued $3KFY2023: Asset sales $775KFY2023: Capital spending −$22.2MFY2023: Acquisitions −$399KFY2023: Buybacks −$25.1M$27.8MFY2023FY2024: Operating cash flow $21.1MFY2024: Net borrowing −$1.8MFY2024: Shares issued $51KFY2024: Asset sales $313KFY2024: Capital spending −$40.3MFY2024: Buybacks −$225K$21.4MFY2024FY2025: Operating cash flow −$102MFY2025: Net borrowing −$870KFY2025: Shares issued $1KFY2025: Asset sales $5KFY2025: Capital spending −$22.6MFY2025: Acquisitions $3.8MFY2025: Buybacks −$10.9M$3.8MFY2025
Over these 5 years operating cash flow totalled $739M; the largest uses were acquisitions ($235M) and capital spending ($128M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$293M
Debtnone
Net cash$293M

Fulgent Genetics's operations bring cash in ($14.4M over twelve months), and it spends more than that on capital projects: a gap of $1.4M funded from its $293M of cash and investments and from borrowing. That is a choice to invest, not a cash runway running down.

Where the cash came from and went

Fulgent Genetics: sources (+) and uses (−) of cash, Q3 2026Fulgent Genetics: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$109MCash drawn (+) / kept (−)−$60.5MOther investing−$46.0MCapital spending−$1.8MTaxes on employees’ shares−$380KAcquisitions−$286KBuybacks−$251KNet borrowing (+) / repaid (−)−$93KExchange rates$14K
Fulgent Genetics: sources (+) and uses (−) of cash, TTM to Q3 2026Fulgent Genetics: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$96.5MBuybacks−$64.1MAcquisitions−$55.9MCash drawn (+) / kept (−)$30.9MCapital spending−$15.8MOperating cash flow$14.4MTaxes on employees’ shares−$5.4MNet borrowing (+) / repaid (−)−$833KExchange rates$180KShares issued$12KAsset & business sales$8K

From profit to cash

Fulgent Genetics: net income to operating cash flow, Q3 2026Fulgent Genetics: net income to operating cash flow, Q3 2026Net income−$13.3MDepreciation & amortization$6.8MStock-based pay$8.1MDeferred taxes$65KGains on disposals−$2KOther non-cash$50KReceivables$3.2MPayables$1.3MAccrued liabilities−$1.3MDeferred revenue−$780KPrepaid and other assets−$3.0MIncome taxes payable$108MOperating cash flow$109M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 20266512640
Q2 20267212845

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksNet borrowing (+) / repaid (−)Shares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$109M−$1.8M−$286K−$251K−$93K—−$60.5M$107M
Q2 2026−$23.8M−$3.9M—−$23.8M−$88K$2K−$2.9M−$27.6M
Q1 2026$7.1M−$5.2M−$55.6M−$40.1M−$564K$9K$26.8M$1.9M
Q4 2025−$78.1M−$5.0M——−$88K$1K$67.4M−$83.1M
Q3 2025$11.1M−$6.0M$3.8M—−$88K—−$29.8M$5.1M
Q2 2025−$30.2M−$6.8M—−$2.2M−$88K—−$20.6M−$37.0M
Q1 2025−$4.4M−$4.7M—−$8.7M−$606K—−$12.1M−$9.1M
Q4 2024$25.0M−$3.8M——−$136K—$2.9M$21.2M

Fulgent Genetics: income statement and cash flow

Fulgent Genetics, Q3 2026: revenue $90.4M (+8% year over year), operating margin -24.9%. The chart follows the revenue to costs, profit and cash.

Fulgent Genetics: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.