Fulgent Genetics, Inc. · NASDAQ:FLGT
Fulgent Genetics — Investor Presentation (November 2022)
28 slides from Fulgent Genetics's investor presentation, Nov 7, 2022
Slide 1: Investor Presentation November 7, 2022
Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT Investor Presentation November 7, 2022 Exhibit 99.3
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 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 ex
Slide 4: Leadership Team
Leadership Team 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 Medical
Slide 5: History of Fulgent Genetics
Dr. Larry Weiss Ming Hsieh Paul Kim James Xie Dr. Harry Gao History of Fulgent Genetics Vision of being one-stop shop for genomic testing Integrating acquisitions and partnerships Capital deployment in M&A opportunities Disciplined execution with expanding team 2011 2022 & Beyond 2020 2021 2015-2019
Slide 6: Positioned to Execute on Our Growth Strategy
Well positioned to execute on a growth strategy that includes organic and inorganic initiatives, including: Transformational acquisition of Inform Diagnostics Ramping and integration of capabilities of CSI Labs Scaling partnerships – Helio Health and Spatial Genomics Potential future acquisitions wi
Slide 7: Inform Diagnostics Acquisition
Inform Diagnostics Acquisition Inform Diagnostics Strategic Highlights Test Menu Expansion: Acquisition extends Fulgent’s capabilities into the pathology testing market Commercial Synergies: With the addition of Inform Diagnostics’ extensive testing capabilities, nationwide salesforce, and significa
Slide 8: CSI Laboratories Acquisition
CSI Laboratories Acquisition CSI Laboratories Strategic Highlights Enter High Value Markets: Expansion into somatic genetic testing market, which is expected to grow to $16.8 billion by 2030 Revenue Synergy Opportunities: Leveraging Fulgent’s best-in-class technology and Next Generation Sequencing (
Slide 9: Target Market Opportunity
Target Market Opportunity Cancer Diagnostics $80B market1 Market sizes sourced from Wall Street equity research Market size sourced from Frost & Sullivan Market size sourced from Research and Markets, April 2022 Genes & Panels Tumor Profiling Known Mutation Newborn Genetics Hereditary Cancer Carrier
Slide 10: Building Fulgent's Platform and Capabilities
Building Fulgent’s Platform and Capabilities Cancer Diagnostics Reproductive Health Early Detection / Liquid Biopsy Genes & Panels Tumor Profiling Known Mutation Newborn Genetics Hereditary Cancer Carrier Screens Genomic Testing Sequencing Service seqFISH Technology Comprehensive Diagnostics Platfor
Slide 11: What Sets Fulgent Apart?
What Sets Fulgent Apart? Represents genes covered by single-gene tests. For Q3 2022. 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 12: Proprietary Technology Platform
Proprietary Technology Platform Differentiated Technology... Engineered genetic biochemistry, including reagents and probes Data suppression and comparison algorithms Adaptive learning software Automated reporting …Provides a Multitude of Advantages Broad test menu Ability to rapidly develop and lau
Slide 13: Commercialized Offerings and Recent Traction
Commercialized Commercialized COVID-19 Testing Specialized Oncology Testing Core NGS Recent Traction with: Hereditary Cancer Cardiovascular Genetics Reproductive Health Neurodegenerative Genetics Newly launched pharmacogenetic test Aggressively expanding sales and commercial organization Wide Array
Slide 14: Fulgent's Menu is Scalable and Affordable to Customers
For Q3 2022. 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 15: NGS Testing – Offerings
NGS Testing – Offerings 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 16: 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: 30 Methods: NGS & Del/Dup Coverage: 99% at 50x Del/Dup ≥ 1 Exon TAT: 2 – 3 Weeks Customizable: Add additional cancer genes
Slide 17: FISH Oncology Testing Platforms
FISH Oncology Testing Platforms Expansive heme and solid tumor menu STAT testing available PML/RARA <1 day TAT 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 - Various IVD pla
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: 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 20: 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 21: Consumer Initiated Tests – Picture Genetics
Parenting Carrier test that screens for genes associated with 30 genetic conditions Newborn Screens newborns for genes associated with various genetic conditions Wellness Screens adults for genetic variants that indicate disease risk PD Aware Assesses risk for Parkinson's Disease COVID-19 Infection
Slide 22: Summary Financial Performance
Summary Financial Performance $56M Core Revenue1 in Q3’22 $297M LTM Operating Cash Flow as of Q3’22 ~484,000 LTM Core Tests as of Q3’22 110% growth year-over-year ~185% growth year-over-year ($ in thousands) +101% year-over-year Core Revenue excludes NGS COVID-19 test volume
Slide 23: Financial Performance: Revenue Profile
Financial Performance: Revenue Profile ($ in thousands) (in thousands) ($ in thousands) (in thousands) Core Revenue excludes NGS COVID-19 test volume
Slide 24: Financial Performance: Margin Profile
Figure is not in accordance with GAAP because it does not include equity-based compensation, amortization, restructuring cost, and acquisition-related costs. (1) Financial Performance: Margin Profile (1) (in thousands) (1)
Slide 25: 2022 Financial Guidance
2022 Financial Guidance Q4 2022 Full Year 2022 Change from Prior Quarter RT-PCR COVID-19 $8 M $433 M - $47 M NGS COVID-19 (CDC) Fulgent Core NGS $52 M + 86% y/y1 $178 M + 92% y/y1 - $7 M CSI and Inform Diagnostics Contributions Total $60 M -76% y/y $611 M -38% y/y - $54 M COVID Core Core Revenue exc
Slide 26: Balance Sheet
Balance Sheet ‘Assets Cash & cash equivalents Marketable securities Trade accounts ecewvable, ne Other curent assets Total current aseets Marketable secutes, org term Redeemable preferred stock investment Foied asses, net Irian assets, net Gocdwit Cher non caren assets Total assets “Accounts payable
Slide 27: Non-GAAP Financial Adjustments
Non-GAAP Financial Adjustments
Slide 28: Founded in 2011 | Located in Los Angeles, CA |
Founded in 2011 | Located in Los Angeles, CA | NASDAQ:FLGT
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