Filing Flows › Fulgent Genetics (FLGT) › Q1 2026
Fulgent Genetics (FLGT) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 1, 2026
Fulgent Genetics (FLGT) reported revenue of $71.1M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -15% from the quarter before. Operating margin was -48.7%, net loss $25.3M (35.5% of revenue).
Fulgent Genetics, Q1 2026: revenue $71.1M (-3% year over year), operating margin -48.7%, net loss $25.3M, operating cash flow $7.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $71.1M | -15% | -3% |
| Operating profit | −$34.6M | — | — |
| Net earnings | −$25.3M | — | — |
| Operating cash flow | $7.1M | — | — |
| Free cash flow | $1.9M | — | — |
What changed
Revenue was $71.1M in Q1 2026, down 3% year over year and down 15% from the previous quarter. Laboratory Services was the largest line at 100% of revenue. Laboratory Services lost $2.4M year over year (down 3%), 104% of the total change.
Gross margin was 30.2%, down 8.4 points from Q1 2025. Operating costs exceeded revenue by $34.6M, an operating margin of -48.7%. Operating expenses grew 17% against a revenue fall of 3%. The fastest-growing cost line was Sales & marketing (+44%). The quarter ended with a net loss of $25.3M, wider than the previous quarter's $23.6M loss. Minority interests bore $448K of it: to shareholders the quarter was a loss of $24.8M. Non-operating items added $8.6M, -33% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $7.1M. Non-cash charges added back $6.0M of depreciation and amortization and $9.9M of share-based compensation. Working capital and other items added $16.5M. Capital expenditures of $5.2M left free cash flow of $1.9M.
Questions
What was Fulgent Genetics' revenue in the first quarter 2026?
Fulgent Genetics (FLGT) reported revenue of $71.1M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -15% from the quarter before.
Was Fulgent Genetics profitable in the first quarter 2026?
Operating loss was $34.6M (-48.7% of revenue) and net loss $25.3M.
Source: Fulgent Genetics 10-Q on SEC EDGAR.