Fulgent Genetics, Inc. · NASDAQ:FLGT
Fulgent Genetics — Q4 2021 Earnings Presentation
29 slides from Fulgent Genetics's earnings presentation, Feb 23, 2022
Slide 1: Exhibit 99.2
Exhibit 99.2
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
Well positioned to execute on a growth strategy that includes organic and inorganic initiatives, including: Ramping and integration of capabilities of CSI Labs Scaling partnerships – Helio Health and Spatial Genomics Controlling interest in China JV to grow global presence Potential future acquisiti
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: Spatial Genomics Investment & Strategic Partnership
Spatial Genomics Investment & Strategic Partnership 9 Spatial Genomics has developed sequential fluorescence in situ hybridization (seqFISH), an advanced biomolecular analysis method that merges imaging with combinatorial molecular barcoding Sophisticated multiplex, multiomic platform that can simul
Slide 10: FF Gene Biotech Joint Venture & China Strategy
FF Gene Biotech Joint Venture & China Strategy 10 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
Slide 11: Target Market Opportunity
Target Market Opportunity 11 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 Early Detection / Liquid Biopsy Market size sourced from Frost
Slide 12: What Sets Fulgent Apart?
What Sets Fulgent Apart? Represents genes covered by single-gene tests. For Q4 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 stock-bas
Slide 13: Proprietary Technology Platform
Proprietary Technology Platform 13 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 14: Commercialized COVID-19 Testing and Specialized Oncology Testing
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 15: Fulgent's Menu is Scalable and Affordable to Customers
For Q4 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 stock-based compensation. See GAAP reconciliation. Fulgent’s Menu is Scalable and
Slide 16: NGS Testing – Offerings
NGS Testing – Offerings 16 Site-Specific Testing Known Mutation Focus (30 Genes) Comprehensive (127 Genes) Somatic Cancer Panels 19 Panels Repeat Expansion 18,400+ Genes Single Gene 900+ Panels Customizable Panels Disease Panels Clinical Exome (4,500+ Genes) Whole Exome Exome Tests
Slide 17: 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 17 Focused Comprehensive
Slide 18: Oncology Testing Platforms
Oncology Testing Platforms 18 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 3-5 Day turnaround time 225+ stains Platforms Venta
Slide 19: 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 20: 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 21: 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 22: 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 23: Summary Financial Performance
Summary Financial Performance 23 $122.6M FY Core Revenue1 as of Q4’21 $539M LTM Operating Cash Flow as of Q4’21 ~372,000 LTM Core Tests as of Q4’21 235.8% growth year-over-year ~413% growth year-over-year ($ in thousands) +235.8% year-over-year Core Revenue in 2021 includes NGS COVID-19 test volume,
Slide 24: Financial Performance: Revenue Profile
Financial Performance: Revenue Profile 24 Core Revenue in 2021 includes NGS COVID-19 test volume, which is excluded from Core Revenue beginning Q1 2022
Slide 25: Financial Performance: Margin Profile
Figure is not in accordance with GAAP because it does not include equity-based compensation and amortization (1) Financial Performance: Margin Profile 25 (1) (1)
Slide 26: 2022 Financial Guidance
2022 Financial Guidance COVID Core 26 NGS COVID-19 testing was included in “Core” revenue in 2021 and will be included in COVID beginning Q1 2022. “Ex COVID NGS” growth rate excludes the contributions from NGS COVID-19 testing under our CDC contract in 2021 for more accurate year over year compariso
Slide 27: Balance Sheet
Balance Sheet Gitagent 27
Slide 28: Non-GAAP Financial Adjustments
Non-GAAP Financial Adjustments 28
Slide 29: Founded in 2011 | Located in Los Angeles, CA
Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT