Filing Flows › Fulgent Genetics (FLGT) › Q4 2025
Fulgent Genetics (FLGT) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Fulgent Genetics (FLGT) reported revenue of $83.3M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -0.9% from the quarter before. Operating margin was -43.5%, net loss $23.6M (28.4% of revenue).
Fulgent Genetics, Q4 2025: revenue $83.3M (+9% year over year), operating margin -43.5%, net loss $23.6M, operating cash flow −$78.1M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $83.3M | -0.9% | +9% |
| Operating profit | −$36.2M | — | — |
| Net earnings | −$23.6M | — | — |
| Operating cash flow | −$78.1M | -804% | — |
What changed
Revenue was $83.3M in Q4 2025, up 9% year over year and down 1% from the previous quarter. Laboratory Services was the largest line at 100% of revenue.
Gross margin was 39.1%, down 2.7 points from a year earlier. Operating costs exceeded revenue by $36.2M, an operating margin of -43.5%. Operating expenses grew 43% against revenue growth of 9%. The fastest-growing cost line was General & admin (+71%). The quarter ended with a net loss of $23.6M, wider than the previous quarter's $6.8M loss. Minority interests bore $232K of it: to shareholders the quarter was a loss of $23.4M. Non-operating items added $7.0M, -24% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$78.1M. Non-cash charges added back $6.1M of depreciation and amortization and $9.3M of share-based compensation. Working capital and other items used $69.9M. Capital expenditures of $5.0M exceeded it, leaving free cash flow of −$83.1M.
Questions
What was Fulgent Genetics' revenue in the fourth quarter 2025?
Fulgent Genetics (FLGT) reported revenue of $83.3M for the fourth quarter 2025 (Q4 2025), +9% from a year earlier and -0.9% from the quarter before.
Was Fulgent Genetics profitable in the fourth quarter 2025?
Operating loss was $36.2M (-43.5% of revenue) and net loss $23.6M.
Source: Fulgent Genetics 10-K on SEC EDGAR.