Fulgent Genetics, Inc. · NASDAQ:FLGT
Fulgent Genetics — Q2 2026 Earnings Presentation
49 slides from Fulgent Genetics's earnings presentation, Jul 30, 2026
Slide 1: Investor Presentation July 30, 2026
Founded in 2011 | Located in El Monte, CA | NASDAQ:FLGT Investor Presentation July 30, 2026
Slide 2: Disclaimer: Forward-Looking Statements and Market Data
Disclaimer Forward-Looking Statements and Market Data This presentation contains forward-looking statements, which are statements other than those of historical facts and which represent the estimates and expectations of Fulgent Genetics, Inc. (the “Company” or “Fulgent”) about future events based o
Slide 3: Leadership Team
Leadership Team Seasoned legal and privacy professional with nearly two decades of legal experience Privacy Law Specialist; Certified Information Privacy Manager; Certified Information Privacy Professional and an Advisory Board Member with the International Association of Privacy Professionals J.D.
Slide 4: About Fulgent
About Fulgent We are a premier global, technology-based genetic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health. Mission Develop flexible and affordable diagnostics and therapeutics that improve the everyday lives of those aroun
Slide 5: Laboratory Services
Laboratory Services
Slide 6: Positioned for Growth
Well-positioned to execute on a growth strategy that includes organic and inorganic initiatives, including: Transformational acquisitions Scaling partnerships Acquisitions with a strategy of short- and long-term ROI, tangible synergies, and efficient capital deployment 1 2 3 $85M Q2 Revenue 4% Q2 Ye
Slide 7: Platform & Capabilities Across Categories
Platform & Capabilities Across 3 Categories Precision Diagnostics Reproductive Health Oncology / Liquid Biopsy Rare Disease Neurogenetics Laboratory Services Anatomic Pathology Dermatopathology Gastrointestinal (GI) Genitourinary (GU) GSP BioPharma Services Spatial Phenotyping Exome / Genome sequenc
Slide 8: Target Market Opportunity
Target Market Opportunity Cancer Diagnostics Early Detection/ Liquid Biopsy Reproductive Health BioPharma Services Genes & Panels Tumor Profiling Known Mutation Newborn Genetics Hereditary Cancer Carrier Screens Genomic Testing Sequencing Service Infectious Disease Spatial Biology
Slide 9: What Sets Fulgent Apart?
What Sets Fulgent Apart? Technology Platform A New Approach to NGS Proprietary probes and engineered chemistry Comparison and suppression algorithms Comprehensive analytics powered by AI and ML Extensive Test Menu Leads to a Broader Test Menu 18,400+ single-gene tests (1) 900+ panels Whole Genome an
Slide 10: Differentiated Technology Platform
Patients and Providers Research Portal …Provides a Multitude of Advantages Broad test menu Ability to rapidly develop and launch new tests Customizable test offerings Lower costs per billable test High efficiency AI & Proprietary Technology Platform Differentiated Technology... Engineered genetic bi
Slide 11: Recent Traction
Recent Traction with: Hereditary Cancer Cardiovascular Genetics Reproductive Health Neurodegenerative Genetics Newly launched ultra rapid whole genome sequencing Aggressively expanding sales and commercial organization Wide Array of Technologies Services Include: Flow cytometry Cytogenetic analysis
Slide 12: Expanding the Integrated Diagnostics Platform: Bako & StrataDx
Expanding the Integrated Diagnostics Platform Acquisition: Bako & StrataDx Adjusted Purchase Price: $56.4 Million Closed: March 17, 2026 AI Integration: Leverages Eziopath, Fulgent's proprietary AI, to automate pathology workflows and improve diagnostic accuracy. Drives commercial synergies: Nearly
Slide 13: Scalable and Affordable Menu for Customers
Scalable and Affordable Menu for Customers Large Panel Small Panel Focus Panel Single-Gene / Custom Comprehensive Panel Average Sales Price / Test Whole Genome Whole Exome Clinical Exome GREATER OFFERINGS THAN MANY LEADING COMPETITORS CNV+ MANY COMPETITORS DO NOT OFFER Flow Cytometry FISH Histopatho
Slide 14: NGS Testing – Offerings
NGS Testing – Offerings Site-Specific Testing Known Mutation Focus (50 Genes) Comprehensive (154 Genes) Somatic Cancer Panels 20 Panels Repeat Expansion 18,400+ Genes Single Gene 800+ Panels Customizable Panels Disease Panels Exome and Whole Genome Genomic Tests
Slide 15: NGS Testing – Germline Oncology Test Menu
NGS Testing – Germline Oncology Test Menu Fulgent Focus Cancer Panels Fulgent Comprehensive Cancer Panels Customizable: Add additional cancer genes or panels at no charge Genes: 50 Methods: NGS & Del/Dup Coverage: 99% at 50x Del/Dup ≥ 1 Exon TAT: 2 – 3 Weeks Customizable: Add additional cancer genes
Slide 16: Oncology Testing Platforms
Oncology Testing Platforms Expansive heme and solid tumor menu STAT testing available - PML/RARA <1 day turnaround time CD138 cell enrichment for PCM 3-5 day turnaround time 225+ stains Platform agnostic Roche, Agilent, and Leica IHC Three levels of service – Tech, Global, Consultative PD-L1 - Vario
Slide 17: NGS Testing – Ultra Rapid Whole Genome
NGS Testing – Ultra Rapid Whole Genome Covers > 20,000 genes Fast turnaround (38-48 hours for preliminary report) Change medical management for up to 87% of babies* Designed for critically ill infants in the NICU/PICU to rapidly diagnose genetic disorders Single nucleotide variants Repeat Expansions
Slide 18: NGS Testing – Panel Deep Dive
The Focus Carrier screen is a pan-ethnic screen that looks for pathogenic mutations known to cause autosomal recessive and X-linked disorders Gene Count: 30 The Ashkenazi Jewish carrier screens for pathogenic carrier variants known to cause recessive genetic disorders Gene Count: 61 The ACOG/ACMG pa
Slide 19: Therapeutic Development
Therapeutic Development
Slide 20: Background of FID-007
Background of FID-007 Nanoencapsulated paclitaxel formulation to promote tumor penetration and retention PK showed a rapid and more extensive distribution to tissue/tumor with lower exposures of unbound paclitaxel when compared to solvent-based paclitaxel Enhanced chemotherapy agent as backbone for
Slide 21: FID-007: Study Design
FID-007: Study Design Key Eligibility Criteria R/M HNSCC Disease progression after ≤1 prior line of systemic therapy in the R/M setting ECOG PS of 0 or 1 Patients must have prior ICI treatment Patients with prior cetuximab or taxane treatment in the R/M setting is excluded. Clinical Cut-Off Date: Ap
Slide 22: FID-007: Demographics and Baseline Disease Characteristics
FID-007: Demographics and Baseline Disease Characteristics Platinum = carboplatin or cisplatin Arm A N=22 (%) Arm B N=24 (%) Age (years) Median (min, max) 64.5 (49, 81) 66.0 (45, 79) Gender Male 17 (77.3) 20 (83.3) Female 5 (22.7) 4 (16.7) Ethnicity Hispanic or Latino 1 (4.5) 8 (33.3) Non-Hispanic o
Slide 23: FID-007: Best Overall Response
FID-007: Best Overall Response Subgroup Category ORR, n (%) p16 status p16 Positive OPC (N=11) 5 (45.5) Other HNSCC (N=31) 21 (67.7) Prior Platinum Therapy Yes (N=27) 17 (63.0) No (N=15) 9 (60.0) Arm A (N=21) Arm B (N=21) Total (N=42) BOR, n(%) CR 2 ( 9.5) 5 (23.8) 7 (16.7) PR 10 (47.6) 9 (42.9) 19
Slide 24: FID-007: Tumor Response and Treatment Duration
FID-007: Tumor Response and Treatment Duration Best Overall Change in Tumor Size of Target Lesions from Baseline Responders Arm A (N=12) Arm B (N=14) Median DOR (95% CI, mo) 7.36 (1.87, NE) 5.98 (2.17, NE) Median TTR (Min, Max, mo) 1.77 (1.68, 7.29) 1.84 (1.64, 3.61) Arm A Arm B Duration of Response
Slide 25: FID-007: Tumor Response and Treatment Duration (ITT)
FID-007: Tumor Response and Treatment Duration ITT population Arm A (N=22) Arm B (N=24) Total (N=46) Median PFS (95% CI, mo) 6.74 (4.17, 12.81) 5.75 (5.42, 9.20) 6.67 (5.42, 9.20) Overall Survival (ITT Population) 1-year OS 63.4% Progression-Free Survival (ITT Population)
Slide 26: FID-007: Summary of Adverse Events
Adverse event category, n (%) Arm A (N=22) Arm B (N=24) Total (N=46) Any TEAEs 20 ( 90.9) 24 (100) 44 ( 95.7) Any TEAEs of >= CTCAE Grade 3 15 ( 68.2) 22 ( 91.7) 37 ( 80.4) Any TEAEs related to FID-007 20 ( 90.9) 24 (100) 44 ( 95.7) Any TEAEs related to Cetuximab 18 ( 81.8) 21 ( 87.5) 39 ( 84.8) Any
Slide 27: FID-007: Interim Clinical Data
FID-007: Interim Clinical Data In an ongoing Phase 2, open-label trial and as of June 2026, FID-007 demonstrated encouraging clinical activity when combined with cetuximab in patients with R/M HNSCC Efficacy ORR: 61.9% mDOR: 7.4 mo (95% CI: 3.7-11.1) mPFS (ITT): 6.7 mo (95% CI: 5.4-9.2) mOS: not mat
Slide 28: Potential Market Opportunity for FID-007
Potential Market Opportunity for FID-007 Pancreatic H&N1 $1.86B in 2025 $2.1B by 2035 Note: U.S. opportunity shown Sources: Evaluate Pharma, Wall Street research, and management pricing expectations Head & Neck, or H&N, market opportunity for both 2nd line and 3rd line therapy Initial Indication Sub
Slide 29: FID-022: FIH Study Design
FID-022: FIH Study Design (BOIN1) L1: 20 mg/m L5: 100 mg/m L4: 80 mg/m L3: 60 mg/m L2: 40 mg/m L6:120 mg/m Dose escalation BOIN design N≥3 each dose level Total ≤ 24 Monotherapy: Infusion on Days 1 and 8 of every 21-day cycle Simulate possible dose de-escalation 2 2 2 2 2 2 Cycle 1 Cycle 2 D1 D8 D15
Slide 30: Pipeline
Pipeline FID-007: wholly-owned drug candidate initially focused on Head & Neck (H&N), Pancreatic/Ampullary cancers Phase 2 trial ongoing for 2nd line treatment of H&N cancer FID-022 Phase 1 trial ongoing Potential FDA approval strategy uses 505(b)(2) studies, which may shorten clinical trial process
Slide 31: Financials
Financials
Slide 32: Summary of Financial Performance
Summary of Financial Performance $85M Revenue in Q2 2026 $(84)M * Last Twelve Months (LTM) Operating Cash Flow as of Q2 2026 +7% year-over-year ($ in millions) 4% increase year-over-year *As of quarter-end, we had not yet received the $106M federal income tax refund which has been delayed due to con
Slide 33: Financial Performance: Revenue and Gross Margin
($ in millions) ($ in millions) ($ in millions) Fulgent defines non-GAAP gross profit as gross profit calculated in accordance with GAAP plus equity-based compensation included in cost of revenue, and Fulgent defines non-GAAP gross margin by taking non-GAAP gross profit and dividing it by GAAP reven
Slide 34: YTD 2026 Financial Performance Across Segments
YTD 2026 Financial Performance Across Segments Non-GAAP metric excludes equity-based compensation, impairment loss, amortization of intangible assets, acquisition-related costs, and acquisition-related severance. See Appendices for Non-GAAP reconciliations of these figures. Note: All figures are rou
Slide 35: YTD Revenue by Category
YTD Revenue by Category Therapeutic development for drug candidates still in pre-commercial stage. Note: All figures are rounded. $156.5 $155.2 ($ in millions) -11% YoY +19% YoY 17% YoY
Slide 36: YTD 2026 Operating Expenses by Category
YTD 2026 Operating Expenses by Category Non-GAAP metric excludes equity-based compensation, impairment loss, amortization of intangible assets, acquisition-related costs, and acquisition-related severance. See Appendices for Non-GAAP reconciliations of these figures. Note: All figures are rounded. (
Slide 37: Strategies for Success Across Segments
Strategies for Success Across Segments Balanced growth strategy Enhancing operational efficiency Building integration readiness Investing in core capabilities Strengthening financial discipline Target future Non-GAAP profitability Laboratory Services Completed enrollment for Phase 2 trial of FID-007
Slide 38: 2026 Financial Guidance
2026 Financial Guidance Expected cash, cash equivalents, and investments in marketable securities of approximately $610 million as of December 31, 20262 This has accounted for the impact on weighted-average outstanding shares for shares repurchased up to date. Cash expenditures may be higher or lowe
Slide 39: Balance Sheet
Balance Sheet (Sin ) December 3 Cash & cash equivalents Marketable securities Trade accounts receivable, net Prepaid income taxes Other current assets Total current assets Marketable securities, long-term In-process research & development Other intangible assets, net Fixed assets, net Goodwill Other
Slide 40: Appendix
Appendix
Slide 41: Prenatal Screening for Genetic Conditions
Prenatal Screening for Genetic Conditions
Slide 42: Technology
Technology NGS Comprehensive NIPS utilizing coordinative allele-aware target enrichment (COATE) suppresses allelic hybridization bias Dual end sequencing retains cfDNA fragmentation characteristics Multi-dimensional analyses for allelic ratios, read-depth, cfDNA fragmentation pattern KNOVA technolog
Slide 43: Fulgent NIPT/NIPS – Full Panel
Fulgent NIPT/NIPS – Full Panel Aneuploidies - 6 13, 15, 16, 18, 21, 22 Aneuploidies (sex chr) Monosomy X (Turner), XXY (Kleinfelter), XXX (Triple X), XYY (Jacob) Microdeletions - 12 1p36; 2q33.1; 4p16; 5p15; 8q23; 9p; 11q23-25; 15q11.2-q13; 17p11.2; 18q; 18p; 22q11.2 Single genes - 56 ASXL1, BRAF, C
Slide 44: Detection Rates of KNOVA in High-Risk Pregnancies
Detection Rates of KNOVA in High-Risk Pregnancies Aneuploidies - 6 13, 15, 16, 18, 21, 22 Aneuploidies (sex chr) Monosomy X (Turner), XXY (Kleinfelter), XXX (Triple X), XYY (Jacob) Microdeletions - 12 1p36; 2q33.1; 4p16; 5p15; 8q23; 9p; 11q23-25; 15q11.2-q13; 17p11.2; 18q; 18p; 22q11.2 Single genes
Slide 45: Consumer Initiated Tests – Picture Genetics
Parenting Screens adults to determine their carrier status for recessive genetic disorders Newborn Screens newborns for genes associated with various severe genetic conditions Wellness Screens adults for genetic variants that indicate disease risk PD Aware Assesses genetic risk for Parkinson's Disea
Slide 46: Non-GAAP Financial Adjustments
Non-GAAP Financial Adjustments Acquisition-related costs incurred in Q2 2025 were adjusted as the acquisition of ANP Technologies, Inc. was signed and closed during Q3 2025. Prior reporting included these costs in general and administrative operating expenses but did not remove them for Non-GAAP rep
Slide 47: Non-GAAP Financial Adjustments by Segment
Non-GAAP Financial Adjustments by Segment
Slide 48: Thank You
Thank You
Slide 49: Founded in 2011 | Located in El Monte, CA |
Founded in 2011 | Located in El Monte, CA | NASDAQ:FLGT