Fulgent Genetics, Inc. · NASDAQ:FLGT
Fulgent Genetics — Q3 2026 Earnings Presentation
44 slides from Fulgent Genetics's earnings presentation, Nov 5, 2026
Slide 1: Investor Presentation November 5, 2026
Founded in 2011 | Located in El Monte, CA | NASDAQ:FLGT Investor Presentation November 5, 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 genomic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health. Since integrating with our therapeutic development business, Fulgent is also developing drug candidates for treatin
Slide 5: Investment Highlights
Investment Highlights Scaled diagnostics platform + clinical-stage oncology pipeline + strong balance sheet 1 Scaled, In-House Diagnostics Platform Proprietary NGS chemistry and software; 18,400+ single-gene tests and 900+ panels, with 100% of volume processed in-house 2 AI-Driven Approach to Geneti
Slide 6: Laboratory Services
Laboratory Services
Slide 7: Positioned for Growth
3 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 $90M Q3 Revenue 8% Q3 Ye
Slide 8: Precision Diagnostics Laboratory Services
Precision Diagnostics Laboratory Services Anatomic Pathology BioPharma Services Reproductive Health Oncology / Liquid Biopsy Rare Disease Neurogenetics Spatial Phenotyping Exome / Genome sequencing RNA sequencing Single Cell sequencing Dermatopathology Gastrointestinal (GI) Genitourinary (GU) GSP Pl
Slide 9: 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 BiolSpatialogy 9
Slide 10: 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 11: AI & Proprietary 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 12: 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 13: 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 14: 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 15: 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 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: 50 Methods: NGS & Del/Dup Coverage: 99% at 50x Del/Dup ≥ 1 Exon TAT: 2 – 3 Weeks Customizable: Add additional cancer genes
Slide 17: 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 18: 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 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: 61 The ACOG/ACMG pa
Slide 20: Therapeutic Development
Therapeutic Development
Slide 21: Potential Market Opportunity for FID-007 & FID-022
Source: ACS/SEER 2026 (sarcoma: 13,910 soft tissue + 4,110 bone). NSCLC and ampullary values are derived. Potential Market Opportunity for FID-007 & FID-022 INITIAL INDICATIONS SUBSEQUENT INDICATIONS Colorectal 158,850 Head & Neck 72,770 Breast 324,580 ~200,000 Pancreatic 67,530 Sarcoma 18,020 Ampul
Slide 22: Innovative Clean Chemo Platform
Innovative Clean ChemoTM Platform: Developing A New Potential Line of Defense Against Cancer Clean Chemo™ Nano-Drug Candidates FID-007 and FID-022 Immunotherapy Targeted Therapy IO & Clean ChemoTM Combination Therapy ✓ Solid tumors Clean ChemoTM Monotherapy ✓ RM/HNSCC ✓ HPV+ RM/HNSCC ✓ mCRC ✓ Solid
Slide 23: FID-007 and FID-022 Nanoparticles
A first-in-human study of FID-007 monotherapy in advanced solid tumors (NCT03537690,N=50) demonstrated: a manageable safety profile without any grade ≥3 peripheral neuropathy An ORR of 45% in a subset of 11 heavily pre-treated patients with R/M HNSCC FID-007 and FID-022 Nanoparticles Background of F
Slide 24: Pipeline Overview
Pipeline Overview Drug Candidate Therapy Indication Pre-Clinical Phase 1 Phase 2 Phase 3 Recent & Anticipated Milestones FID-007 ✓ Interim Ph2 data in June 2026 ✓ End of Ph2 meeting with FDA in 3Q 2026 Combo – Cet RM/HNSCC Mono HPV+ RM/HNSCC Combo – ADC mCRC Combo – IO Solid Tumors FID-022 ✓ Dosing
Slide 25: FID-007: Tumor Response & Treatment Duration
FID-007: Tumor Response & 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 26: FID-007: Best Overall Response
FID-007: Best Overall Response 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 (45.2) SD 4 (19.0) 6 (28.6) 10 (23.8) PD 3 (14.3) 1 (4.8) 4 (9.5) NE 2 (9.5) 0 2 (4.8) ORR n (%) 12 (57.1) 14 (66.7) 26 (61.9) DCR n (%) 16 (76.2) 20 (95.2) 36 (85.7)
Slide 27: FID-007: Progression-Free and Overall Survival
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) FID-007: Progression-Free and Overall Survival 27
Slide 28: FID-007: Summary of Adverse Events
* 1 Grade 5 TRAE in Arm B (pneumonia) 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) An
Slide 29: 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. FID-007: Interim Clinical Data 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 1-Year OS 63.4 %
Slide 30: FID-022-001 Clinical Update
FID-022-001 Clinical Update Dose level 1, 2, 3, & 4 are completed 1. Bayesian Optimal Interval Design, a type of model-assisted dose finding design used to determine the maximum tolerated dose. 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
Slide 31: Financials
Financials
Slide 32: Summary of Financial Performance
Summary of Financial Performance $90M Revenue in Q3 2026 $14M Last Twelve Months (LTM) Operating Cash Flow as of Q3 2026 +5% year-over-year ($ in millions) 8% increase year-over-year Note: All figures are rounded.
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, acquisition-related severance, and impairment of intangible assets. See Appendices for Non-GAAP reconciliations of these f
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. Total Revenue1 $ in millions Precision Diagnostics Anatomic Pathology BioPharma Services $142.2 $79.4 $17.7 $239.3 $123.5 $103.5 $19.9 $246.9 -13% YoY +30% YoY +13% YoY Y
Slide 36: 2026 Financial Guidance
2026 Financial Guidance Expected cash, cash equivalents, and investments in marketable securities of approximately $630 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 37: Appendix
Appendix
Slide 38: Balance Sheet
Balance Sheet (S in millions) Periods Ended December 31, 2025 September 30, 2026 Cash & cash equivalents $ 50.2 $ 86.8 Marketable securities 285.9 206.0 Trade accounts receivable, net 84.8 62.5 Prepaid income taxes 107.1 221 Other current assets 22.5 26.2 Total current assets 550.5 383.7 Marketable
Slide 39: 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 40: Non-GAAP Financial Adjustments by Segment
Non-GAAP Financial Adjustments by Segment
Slide 41: 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 42: 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 43: Thank You
Thank You
Slide 44: Founded in 2011 | Located in El Monte, CA |
Founded in 2011 | Located in El Monte, CA | NASDAQ:FLGT