$FLGT
Fulgent Genetics, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024089592 Filed on August 02, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $71.74M $71.03M
YoY Change -15.28% 4.68%
Cost Of Revenue $44.97M $44.54M
YoY Change 0.29% -5.8%
Gross Profit $26.77M $26.49M
YoY Change -32.81% 28.77%
Gross Profit Margin 37.32% 37.3%
Selling, General & Admin $30.07M $29.92M
YoY Change 8.73% 4.2%
% of Gross Profit 112.34% 112.95%
Research & Development $11.78M $13.49M
YoY Change 17.67% 39.15%
% of Gross Profit 44.01% 50.91%
Depreciation & Amortization $5.920M $6.153M
YoY Change 37.67% 50.07%
% of Gross Profit 22.11% 23.23%
Operating Expenses $43.85M $45.40M
YoY Change 10.65% 12.45%
Operating Profit -$17.08M -$18.91M
YoY Change -8080.84% -4.51%
Interest Expense $8.076M $7.692M
YoY Change 5555.88%
% of Operating Profit
Other Income/Expense, Net -$1.453M
YoY Change -121.86%
Pretax Income -$18.53M -$11.21M
YoY Change -370.15% -23.71%
Income Tax -$3.800M -$2.100M
% Of Pretax Income
Net Earnings -$14.65M -$8.710M
YoY Change 11.76% -22.43%
Net Earnings / Revenue -20.42% -12.26%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.48 -$0.29
COMMON SHARES
Basic Shares Outstanding 30.30M 29.92M
Diluted Shares Outstanding 30.42M 30.10M

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $213.1M $311.7M
YoY Change -54.45% -32.01%
Cash & Equivalents $58.04M $65.11M
Short-Term Investments $155.0M $246.6M
Other Short-Term Assets $56.16M $30.83M
YoY Change 71.33% -12.05%
Inventory
Prepaid Expenses $7.070M $7.294M
Receivables $57.32M $56.57M
Other Receivables $1.270M $1.225M
Total Short-Term Assets $326.5M $399.1M
YoY Change -40.61% -24.45%
LONG-TERM ASSETS
Property, Plant & Equipment $106.8M $93.37M
YoY Change 25.27% 6.64%
Goodwill $22.06M $22.06M
YoY Change -84.45% -84.47%
Intangibles $137.1M $139.0M
YoY Change -5.1% -5.12%
Long-Term Investments $602.2M $526.2M
YoY Change 56.95% 35.48%
Other Assets $39.01M $32.14M
YoY Change 2.32% -34.5%
Total Long-Term Assets $907.2M $833.1M
YoY Change 12.2% 0.83%
TOTAL ASSETS
Total Short-Term Assets $326.5M $399.1M
Total Long-Term Assets $907.2M $833.1M
Total Assets $1.234B $1.232B
YoY Change -9.18% -9.03%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $19.81M $19.87M
YoY Change 25.57% -3.56%
Accrued Expenses $23.86M $26.43M
YoY Change 13.46% 18.88%
Deferred Revenue $2.966M $2.744M
YoY Change 14.69% 5.5%
Short-Term Debt $0.00 $0.00
YoY Change -100.0% -100.0%
Long-Term Debt Due $412.0K $904.0K
YoY Change -17.6% 68.97%
Total Short-Term Liabilities $73.99M $75.75M
YoY Change 20.46% 16.87%
LONG-TERM LIABILITIES
Long-Term Debt $448.0K $535.0K
YoY Change -50.22% -48.06%
Other Long-Term Liabilities $11.82M $14.40M
YoY Change -25.01% -13.25%
Total Long-Term Liabilities $11.82M $14.40M
YoY Change -25.01% -13.25%
TOTAL LIABILITIES
Total Short-Term Liabilities $73.99M $75.75M
Total Long-Term Liabilities $11.82M $14.40M
Total Liabilities $98.87M $103.4M
YoY Change 2.38% 13.3%
SHAREHOLDERS EQUITY
Retained Earnings $596.4M $611.0M
YoY Change -21.67% -21.1%
Common Stock $532.9M $522.4M
YoY Change 3.63% 3.23%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $1.138B $1.133B
YoY Change
Total Liabilities & Shareholders Equity $1.234B $1.232B
YoY Change -9.18% -9.03%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$14.65M -$8.710M
YoY Change 11.76% -22.43%
Depreciation, Depletion And Amortization $5.920M $6.153M
YoY Change 37.67% 50.07%
Cash From Operating Activities -$15.51M $4.285M
YoY Change -250.57% -55.99%
INVESTING ACTIVITIES
Capital Expenditures $19.54M $12.94M
YoY Change 298.71% 6.59%
Acquisitions
YoY Change
Other Investing Activities $28.52M $20.25M
YoY Change 14.09% 83.27%
Cash From Investing Activities $8.985M $7.304M
YoY Change -55.3% -766.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -567.0K -1.146M
YoY Change -87.11% -92.95%
NET CHANGE
Cash From Operating Activities -15.51M 4.285M
Cash From Investing Activities 8.985M 7.304M
Cash From Financing Activities -567.0K -1.146M
Net Change In Cash -7.091M 10.44M
YoY Change -127.27% -237.08%
FREE CASH FLOW
Cash From Operating Activities -$15.51M $4.285M
Capital Expenditures $19.54M $12.94M
Free Cash Flow -$35.05M -$8.659M
YoY Change -749.0% 259.74%

Facts In Submission

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29933000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29675000
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30098000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29813000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29933000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29675000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-9090000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-11590000
us-gaap Profit Loss
ProfitLoss
-22936000
us-gaap Profit Loss
ProfitLoss
-27439000
CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-111000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1965000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-444000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Gain Loss Arising During Period Net Of Tax
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationGainLossArisingDuringPeriodNetOfTax
-1797000
CY2024Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
312000
CY2023Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-2132000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-1760000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
3197000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-8889000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-15687000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-25140000
us-gaap Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
-26039000
CY2024Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-380000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-361000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-764000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-870000
CY2024Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-24000
CY2023Q2 us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-547000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
-122000
us-gaap Other Comprehensive Income Foreign Currency Transaction And Translation Adjustment Net Of Tax Portion Attributable To Noncontrolling Interest
OtherComprehensiveIncomeForeignCurrencyTransactionAndTranslationAdjustmentNetOfTaxPortionAttributableToNoncontrollingInterest
1243000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-404000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-908000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
-886000
us-gaap Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
373000
CY2024Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-8485000
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-14779000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-24254000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-26412000
CY2023Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1133286000
CY2024Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11518000
CY2024Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
1682000
CY2024Q1 us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
225000
CY2024Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-2405000
CY2024Q1 us-gaap Profit Loss
ProfitLoss
-13846000
CY2024Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1126646000
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
11635000
CY2024Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
544000
CY2024Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
201000
CY2024Q2 us-gaap Profit Loss
ProfitLoss
-9090000
CY2024Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1128848000
CY2024Q2 flgt Common Stock Shares Issued Upon Expiration Of Hold Back Provisions
CommonStockSharesIssuedUponExpirationOfHoldBackProvisions
185503000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1269875000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10265000
CY2023Q1 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
869000
CY2023Q1 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
5497000
CY2023Q1 us-gaap Profit Loss
ProfitLoss
-15849000
CY2023Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1268919000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
10323000
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
3000
CY2023Q2 us-gaap Adjustments Related To Tax Withholding For Share Based Compensation
AdjustmentsRelatedToTaxWithholdingForShareBasedCompensation
232000
CY2023Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
-4097000
CY2023Q2 us-gaap Profit Loss
ProfitLoss
-11590000
CY2023Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
1263326000
CY2023Q2 flgt Common Stock Shares Not Issued And Holdback As Partial Security For Indemnification Obligations
CommonStockSharesNotIssuedAndHoldbackAsPartialSecurityForIndemnificationObligations
371006000
CY2023Q4 flgt Common Stock Shares Issued Upon Expiration Of Hold Back Provisions
CommonStockSharesIssuedUponExpirationOfHoldBackProvisions
185503000
CY2024Q2 flgt Common Stock Shares Issued Upon Expiration Of Hold Back Provisions
CommonStockSharesIssuedUponExpirationOfHoldBackProvisions
185503000
us-gaap Profit Loss
ProfitLoss
-22936000
us-gaap Profit Loss
ProfitLoss
-27439000
us-gaap Share Based Compensation
ShareBasedCompensation
23153000
us-gaap Share Based Compensation
ShareBasedCompensation
20588000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
12816000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
13191000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4157000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-1984000
flgt Noncash Lease Expense
NoncashLeaseExpense
2679000
flgt Noncash Lease Expense
NoncashLeaseExpense
3268000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-172000
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
-11000
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
2670000
us-gaap Investment Income Net Amortization Of Discount And Premium
InvestmentIncomeNetAmortizationOfDiscountAndPremium
1192000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1014000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-8418000
flgt Unrecognized Tax Benefits Operating Activities
UnrecognizedTaxBenefitsOperatingActivities
-317000
us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-871000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-20000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
1393000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-19658000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-4097000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3764000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
1596000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-4447000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-130000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-598000
flgt Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
3604000
flgt Increase Decrease In Customer Deposit
IncreaseDecreaseInCustomerDeposit
3599000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-2762000
us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-7519000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-2687000
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-3144000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
11551000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
1830000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
258829000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
250537000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
17000000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
14178000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
160073000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
258847000
flgt Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
75599000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
275000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
418000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-39882000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-5450000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2226000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
1101000
flgt Repayment Of Notes Payable
RepaymentOfNotesPayable
1229000
flgt Repayment Of Notes Payable
RepaymentOfNotesPayable
799000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
273000
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
463000
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
225000
flgt Repayment Of Investment Margin Loan
RepaymentOfInvestmentMarginLoan
15000000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3953000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17360000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-78000
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-178000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-32362000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-21158000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
97473000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
79506000
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
65111000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
58348000
us-gaap Income Taxes Paid
IncomeTaxesPaid
1903000
us-gaap Income Taxes Paid
IncomeTaxesPaid
2636000
us-gaap Interest Paid Net
InterestPaidNet
452000
us-gaap Interest Paid Net
InterestPaidNet
919000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
4783000
us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
3725000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1146000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2661000
flgt Operating Lease Right Of Use Assets Reduced Due To Lease Modification And Termination
OperatingLeaseRightOfUseAssetsReducedDueToLeaseModificationAndTermination
57000
flgt Finance Lease Right Of Use Assets Reduced Due To Lease Modification And Termination
FinanceLeaseRightOfUseAssetsReducedDueToLeaseModificationAndTermination
696000
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make certain estimates, judgments and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, as well as the reported amounts of revenue and expenses during the reporting periods. These estimates, judgments and assumptions are based on historical data and experience available at the date of the accompanying condensed consolidated financial statements, as well as various other factors management believes to be reasonable under the circumstances. The Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from these estimates.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">On an on-going basis, management evaluates its estimates, primarily those related to: (i) revenue recognition criteria, (ii) accounts receivable and allowances for credit losses, (iii) the useful lives of fixed assets and intangible assets, (iv) estimates of tax liabilities, (v) valuation of intangible assets and goodwill at time of acquisition and on a recurring basis, and (vi) valuation of investments.</span></p>
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
25226000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-4157000
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
2855000
us-gaap Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
7093000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
25307000
CY2024Q2 flgt Redeemable Preferred Stock Investment Noncurrent
RedeemablePreferredStockInvestmentNoncurrent
20400000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
-100000
us-gaap Debt Securities Available For Sale Unrealized Gain Loss
DebtSecuritiesAvailableForSaleUnrealizedGainLoss
500000
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Concentrations of Credit Risk, Customers, and Suppliers</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and marketable securities, which consist of debt securities and equity securities. As of June 30, 2024, substantially all of the Company’s cash and cash equivalents were deposited in accounts at financial institutions, and amounts may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which its cash and cash equivalents are held.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">In certain periods, a small number of customers has accounted for a significant portion of the Company’s revenue. For the laboratory services business, aggregating customers under common control, </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer comprised of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">16.9</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">24</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of total revenue in the three months ended June 30, 2024 and </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">29.6</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">22</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Company's revenue in the six months ended June 30, 2024. The same customer contributed </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">9.1</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Company's revenue in the three months ended June 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">. </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">No</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer contributed </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">more than </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">10</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of the Company's revenue in the six months ended June 30, 2023. </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">One</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer comprised </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">19</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of total accounts receivable, net, as of June 30, 2024, and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> of total accounts receivable, net, as of December 31, 2023. For the therapeutic development business, as of June 30, 2024 and December 31, 2023, there is no concentration risk, as there are no customers or revenue, as it does not have any commercialized or approved product candidates.</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:12pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company relies on a limited number of suppliers for certain laboratory substances used in the chemical reactions incorporated into its processes, referred to as reagents, as well as for the sequencers and various other equipment and materials it uses in its laboratory operations. In particular, the Company relies on a sole supplier for the next generation sequencers and associated reagents it uses to perform its genetic tests and as the sole provider of maintenance and repair services for these sequencers. The operations of the laboratory services business would be interrupted if it encountered delays or difficulties securing these reagents, sequencers, other equipment or materials or maintenance and repair services, which could occur for a variety of reasons, including if the Company needs a replacement or temporary substitute for any of its limited or sole suppliers and is not able to locate and make arrangements with an acceptable replacement or temporary substitute. The Company's development efforts could also be delayed or interrupted if is unable to procure items needed for its therapeutic development activities. The Company’s therapeutic development business also relies on ANP Technologies, Inc., or ANP, for certain laboratory services, equipment, tools, and drug intermediates in connection with research and development efforts. The Company believes there are currently only a few other manufacturers that are capable of supplying and servicing some of the equipment and other materials necessary for its laboratory operations, including collection kits, sequencers and various associated reagents.</span></p><div style="font-size:10pt;font-family:Times New Roman;"><p style="font-size:10pt;margin-top:18pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:italic;min-width:fit-content;">Equity Method Investments</span></p><p style="text-indent:4.533%;font-size:10pt;margin-top:6pt;font-family:Times New Roman;margin-bottom:0;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company uses the equity method to account for investments in entities that it does not control but in which it has the ability to exercise significant influence over operating and financial policies. The Company's </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">25</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% interest in Boston Molecules, Inc. is accounted for using the equity method but the investment was reduced to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">zero</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> in 2020</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> due to full impairment. The Company has not recorded any additional losses.</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p></div>
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0
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590000
CY2024Q2 flgt Available For Sale Securities Debt Equity Securities And Trading Securities Unrealized Loss Before Tax
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6385000
CY2024Q2 flgt Available For Sale Securities Debt Equity Securities And Trading Securities
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1909000
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5945000
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us-gaap Debt Securities Available For Sale Realized Loss
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CY2023Q2 us-gaap Debt Securities Available For Sale Realized Gain
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us-gaap Debt Securities Available For Sale Realized Gain
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CY2023Q2 us-gaap Debt Securities Available For Sale Realized Loss
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us-gaap Debt Securities Available For Sale Realized Loss
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CY2023Q2 flgt Fair Value Assets Transfers Between Levels Amount
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us-gaap Depreciation
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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us-gaap Depreciation Depletion And Amortization
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12816000
us-gaap Depreciation Depletion And Amortization
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CY2024Q2 us-gaap Assets
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CY2024Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q2 us-gaap Purchase Obligation
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us-gaap Operating Lease Cost
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us-gaap Operating Lease Cost
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us-gaap Finance Lease Right Of Use Asset Amortization
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us-gaap Finance Lease Right Of Use Asset Amortization
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us-gaap Finance Lease Interest Expense
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us-gaap Finance Lease Interest Expense
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CY2024Q2 us-gaap Short Term Lease Cost
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CY2023Q2 us-gaap Short Term Lease Cost
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us-gaap Short Term Lease Cost
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us-gaap Short Term Lease Cost
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CY2024Q2 us-gaap Lease Cost
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CY2023Q2 us-gaap Lease Cost
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us-gaap Lease Cost
LeaseCost
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us-gaap Lease Cost
LeaseCost
5081000
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
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CY2024Q2 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Next Twelve Months
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Finance Lease Liability Payments Due Year Two
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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1886000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Five
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712000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
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514000
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
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CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
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CY2024Q2 us-gaap Finance Lease Liability Payments Due
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CY2024Q2 us-gaap Finance Lease Liability Undiscounted Excess Amount
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CY2024Q2 us-gaap Operating Lease Liability
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CY2024Q2 us-gaap Finance Lease Liability
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CY2023Q2 us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Allocated Share Based Compensation Expense
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us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Income Tax Expense Benefit
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us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
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CY2024Q2 us-gaap Effective Income Tax Rate Continuing Operations
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0.19
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.10
CY2023Q2 us-gaap Effective Income Tax Rate Continuing Operations
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us-gaap Effective Income Tax Rate Continuing Operations
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0.23
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us-gaap Proceeds From Income Tax Refunds
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CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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us-gaap Net Income Loss Available To Common Stockholders Basic
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CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2023Q4 us-gaap Goodwill
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us-gaap Amortization Of Intangible Assets
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
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CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
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CY2024Q2 us-gaap Finite Lived Intangible Assets Net
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CY2022Q1 srt Stock Repurchase Program Authorized Amount1
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CY2024Q2 us-gaap Stock Repurchased During Period Shares
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CY2024Q2 us-gaap Stock Repurchased During Period Value
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CY2023Q2 us-gaap Stock Repurchased During Period Shares
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CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
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800000
us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
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1800000

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