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Fulgent Genetics Revenues More Than Double in Q2, Driven by COVID-19 Testing

Aug 04, 2020
|
staff reporter

NEW YORK – Fulgent Genetics reported after the close of the market on Tuesday that its second quarter revenues more than doubled, driven by multiple types of tests to detect COVID-19.

For the three-month period ended June 30, Fulgent's revenues grew to a record $17.3 million from $8.4 million in Q2 2019, handily beating the average Wall Street analysts' estimate of $10 million. The number of billable tests delivered during the quarter grew over tenfold year over year to 180,513 tests.

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