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NEW YORK – Fulgent Genetics reported after the close of the market on Monday that its third quarter revenues rose almost tenfold year over year, driven by demand for its COVID-19 tests.

For the three-month period ended Sept. 30, the Temple City, California-based company posted revenues of $101.7 million compared to $10.3 million a year ago, more than double the average Wall Street revenue estimate of $48.5 million.

Fulgent said that the number of billable tests delivered in the quarter grew to approximately 1.04 million, up from 20,697 in Q3 2019.

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