Fulgent Genetics, Inc. · NASDAQ:FLGT
Fulgent Genetics — Q3 2021 Earnings Presentation
28 slides from Fulgent Genetics's earnings presentation, Nov 9, 2021
Slide 1: Fulgent Genetics November 2021
Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT 1 Exhibit 99.2 November 2021
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”) about future events based on current vie
Slide 3: Mission, Core Values, and Strategy
Mission, Core Values, and Strategy 3 Mission Develop flexible and affordable genomic testing that improves the everyday lives of those around us Core Values Innovation Customer service and commitment Quality Efficiency Strategy Leverage our proprietary NGS platform for broad application Operational
Slide 4: Leadership Team
Leadership Team 4 Esteemed background in molecular science and pathology Most recently Chief Medical Officer at NeoGenomics; prior senior role at Clarient. Chairman Emeritus of Pathology at City of Hope National Medical Center Brandon Perthuis Chief Commercial Officer Dr. Lawrence Weiss Chief Medica
Slide 5: History of Fulgent Genetics
Dr. Larry Weiss Ming Hsieh Paul Kim James Xie Dr. Harry Gao History of Fulgent Genetics 5 Expansion with organic growth and strategic deployment of capital Strengthen positioning as holistic genetic testing platform Leverage expertise of seasoned leadership team with disciplined operational focus 20
Slide 6: Fulgent is Positioned to Execute on Our Growth Strategy
Fulgent is well positioned to execute on a targeted growth strategy. Near term initiatives include: CSI Labs acquisition to expand capabilities Controlling interest in China JV to grow global presence Fulgent is Positioned to Execute on Our Growth Strategy 6 Proprietary technology platform allows fo
Slide 7: CSI Laboratories Acquisition
CSI Laboratories Acquisition 7 Leading cancer testing and diagnostics laboratory acquired in August 2021 Headquarters & Main Laboratory 2580 Westside Pkwy. Alpharetta, GA 30004 South Florida Laboratory 2141 Alternate A1A, South Jupiter, FL 33477 Accelerates Fulgent’s goal of becoming a large player
Slide 8: Helio Health Investment & Strategic Partnership
Fulgent Equity Investment: $20 Million Helio Health Investment & Strategic Partnership 8 Emerging liquid biopsy company for early detection of cancer with proven management team USA Office 9950 Research Drive Irvine, CA 92618 China Office No. 1908, Building 10, Jianguo Rd Chaoyang District, Beijing,
Slide 9: Competitive Landscape
Competitive Landscape 9 Cancer Diagnostics Reproductive Health Genes & Panels Known Mutation Genomic Testing Hereditary Cancer Tumor Profiling Newborn Genetics Carrier Screens Sequencing Service $18B market2 $80B market2 $7B market1 Market size sourced from Frost & Sullivan Market sizes sourced from
Slide 10: What Sets Fulgent Apart?
What Sets Fulgent Apart? (1) Represents genes covered by single-gene tests. (2) For Q3 2021. Includes all tests available for sale (e.g., Whole Exome, Whole Genome, Large Panels, Small Panels, Comprehensive and Focus Cancer Panels and Single-Gene Tests, COVID-19 Tests, and vaccines). Also excludes s
Slide 11: Proprietary Technology Platform
Proprietary Technology Platform 11 Differentiated Technology... Engineered genetic biochemistry, including reagents and probes Data suppression and comparison algorithms Adaptive learning software Automated reporting …Provides a Multitude of Advantages Broadest test menu Ability to rapidly develop a
Slide 12: Fulgent's Broad Capabilities: COVID-19, Oncology and NGS
Commercialized COVID-19 Testing Commercialized COVID-19 Testing Specialized Oncology Testing Next Generation Sequencing Opportunities Specialized Oncology Testing Core NGS Recent Traction with: Hereditary Cancer Cardiovascular Genetics Reproductive Health Neurodegenerative Genetics Newly launched ph
Slide 13: Fulgent's Menu is Scalable and Affordable to Customers
Fulgent’s Menu is Scalable and Affordable to Customers 13 Large Panel Small Panel Focus Panel Single-Gene / Custom Comprehensive Panel Average Sales Price / Test Whole Genome Whole Exome Q3 ’21 Average Sales Price / Test: ~$105 Q3 ’21 Average COGS / Test: ~$20(1) Clinical Exome GREATER OFFERINGS THA
Slide 14: NGS Testing – Offerings
NGS Testing – Offerings 14 Site-Specific Testing Known Mutation Focus (30 Genes) Comprehensive (127 Genes) Somatic Cancer Panels 20 Panels Repeat Expansion 18,400+ Genes Single Gene 900+ Panels Customizable Panels Disease Panels Clinical Exome (4,500+ Genes) Whole Exome Exome Tests
Slide 15: NGS Testing – Oncology Test Menu
NGS Testing – Oncology Test Menu Customizable: Add additional cancer genes or panels at no charge Coverage: 99% at 50x Del/Dup ≥ 1 Exon TAT: 2 – 3 Weeks Customizable: Add additional cancer genes or panels at no charge Coverage: 99% at 50x Del/Dup ≥ 1 Exon TAT: 2 – 3 Weeks 15 Focused Comprehensive
Slide 16: Oncology Testing Platforms
Oncology Testing Platforms 16 Expansive heme and solid tumor menu Promyelocytic Leukemia/Retinoic Acid Receptor Alpha test: 4-hour turnaround time Genius Multiple Myeloma Assessment Protocol (using CD138 isolation marker) for plasma cell enrichment 4-6 Day turnaround time 225+ stains Platforms Venta
Slide 17: 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: 43 The ACOG/ACMG pa
Slide 18: NGS Testing – Women's Health: PGT-A
NGS Testing – Women’s Health: PGT-A Increased Chance of Pregnancy Embryos with a normal number of chromosomes have a better chance of resulting in successful pregnancy More Confidence in Transferring a Single Embryo Avoid health risks associated with twin or triplet pregnancies that can occur from m
Slide 19: NGS Testing – Rapid Whole Genome for Newborns
NGS Testing – Rapid Whole Genome for Newborns Screens for over 200 health conditions Identifies potential health risks before symptoms arise Early detection known to have a positive impact Simple cheek swab collection for your baby : No pricks, sticks, or tears necessary Newborn Genetic Screening Go
Slide 20: Consumer Initiated Tests – Picture Genetics
Consumer Initiated Tests – Picture Genetics Targeting the Large Consumer Market with Picture Genetics Launched in 2019 with significant growth amid COVID-19 A consumer-focused offering that merges clinical utility with accuracy of an accredited lab Extends Fulgent’s NGS capabilities to a broader mar
Slide 21: China Strategy: FF Gene Biotech Joint Venture
China Strategy 21 FF Gene Biotech Joint Venture Joint venture between Fulgent, Xi Long Scientific, and Fuzhou Jinqiang Investment Partnership (FJIP) Fulgent owns controlling interest Brings Fulgent’s NGS capabilities to the Chinese genetic testing market Fulgent will increase testing capacity and ex
Slide 22: Summary Financial Performance
Summary Financial Performance 22 $94.5M LTM Core Revenue as of Q3’21 $596M LTM Operating Cash Flow as of Q3’21 ~265,000 LTM Core Tests as of Q3’21 187% growth year-over-year ~334% growth year-over-year (in thousands)
Slide 23: Financial Performance: Revenue Profile
Financial Performance: Revenue Profile 23
Slide 24: Financial Performance: Margin Profile
(1) Figure is not in accordance with GAAP because it does not include equity-based compensation Financial Performance: Margin Profile 24 (1) (1)
Slide 25: 2021 Financial Guidance
2021 Financial Guidance 25 COVID CORE Key Takeaways: Guidance categories remain “Core” and “COVID” “Core” revenue includes NGS testing plus contribution from CSI Laboratories “COVID” revenue includes RT-PCR COVID-19 testing 25 $110 M +201% y/y $115 M +215% y/y
Slide 26: Balance Sheet
Balance Sheet Ctuigent 26
Slide 27: Non-GAAP Financial Adjustments
Non-GAAP Financial Adjustments 27
Slide 28: Founded in 2011 | Located in Los Angeles, CA |
Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT 28