$FLGT
Fulgent Genetics, Inc.

2018 Q2 Form 10-Q Financial Statement

#000156459018021345 Filed on August 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q2 2017 Q2
Revenue $5.400M $4.640M
YoY Change 16.38% 16.85%
Cost Of Revenue $2.544M $1.879M
YoY Change 35.39% 33.17%
Gross Profit $2.856M $2.761M
YoY Change 3.44% 7.85%
Gross Profit Margin 52.89% 59.5%
Selling, General & Admin $2.645M $1.991M
YoY Change 32.85% 113.17%
% of Gross Profit 92.61% 72.11%
Research & Development $1.212M $920.0K
YoY Change 31.74% 40.24%
% of Gross Profit 42.44% 33.32%
Depreciation & Amortization $562.0K $405.0K
YoY Change 38.77% 102.5%
% of Gross Profit 19.68% 14.67%
Operating Expenses $3.857M $2.911M
YoY Change 32.5% 83.08%
Operating Profit -$1.001M -$150.0K
YoY Change 567.33% -115.46%
Interest Expense $100.0K $100.0K
YoY Change 0.0% -101.82%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$903.0K -$30.00K
YoY Change 2910.0% -99.33%
Income Tax -$100.0K -$110.0K
% Of Pretax Income
Net Earnings -$1.049M -$25.00K
YoY Change 4096.0% -99.44%
Net Earnings / Revenue -19.43% -0.54%
Basic Earnings Per Share -$0.06 $0.00
Diluted Earnings Per Share -$0.06 $0.00
COMMON SHARES
Basic Shares Outstanding 17.92M 17.71M
Diluted Shares Outstanding 17.92M 17.71M

Balance Sheet

Concept 2018 Q2 2017 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $30.60M $28.90M
YoY Change 5.88% 79.5%
Cash & Equivalents $3.654M $11.50M
Short-Term Investments $26.90M $17.40M
Other Short-Term Assets $1.000M $900.0K
YoY Change 11.11% -68.97%
Inventory
Prepaid Expenses $568.0K $558.0K
Receivables $5.100M $4.200M
Other Receivables $42.00K $800.0K
Total Short-Term Assets $38.20M $34.70M
YoY Change 10.09% 59.17%
LONG-TERM ASSETS
Property, Plant & Equipment $7.300M $6.700M
YoY Change 8.96% 34.0%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.400M -$105.0K
YoY Change -9052.38%
Other Assets $600.0K $100.0K
YoY Change 500.0%
Total Long-Term Assets $17.30M $24.11M
YoY Change -28.23% 382.1%
TOTAL ASSETS
Total Short-Term Assets $38.20M $34.70M
Total Long-Term Assets $17.30M $24.11M
Total Assets $55.50M $58.81M
YoY Change -5.62% 119.42%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.800M $1.820M
YoY Change -1.1% -60.43%
Accrued Expenses $1.200M $902.0K
YoY Change 33.04% 125.5%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.000M $2.800M
YoY Change 7.14% -45.1%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $3.000M $2.800M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $3.000M $3.100M
YoY Change -3.23% -39.22%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $52.56M $55.70M
YoY Change
Total Liabilities & Shareholders Equity $55.50M $58.80M
YoY Change -5.61% 119.4%

Cashflow Statement

Concept 2018 Q2 2017 Q2
OPERATING ACTIVITIES
Net Income -$1.049M -$25.00K
YoY Change 4096.0% -99.44%
Depreciation, Depletion And Amortization $562.0K $405.0K
YoY Change 38.77% 102.5%
Cash From Operating Activities $0.00 $600.0K
YoY Change -100.0% -60.0%
INVESTING ACTIVITIES
Capital Expenditures -$100.0K -$1.400M
YoY Change -92.86% 250.0%
Acquisitions
YoY Change
Other Investing Activities -$1.500M $5.600M
YoY Change -126.79%
Cash From Investing Activities -$1.600M $4.200M
YoY Change -138.1% -1150.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 0.000
YoY Change -100.0%
NET CHANGE
Cash From Operating Activities 0.000 600.0K
Cash From Investing Activities -1.600M 4.200M
Cash From Financing Activities 0.000 0.000
Net Change In Cash -1.600M 4.800M
YoY Change -133.33% -67.79%
FREE CASH FLOW
Cash From Operating Activities $0.00 $600.0K
Capital Expenditures -$100.0K -$1.400M
Free Cash Flow $100.0K $2.000M
YoY Change -95.0% 5.26%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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us-gaap Use Of Estimates
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<div> <p style="margin-top:18pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Use of Estimates</p> <p style="margin-top:6pt;margin-bottom:0pt;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">The preparation of 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 and disclosure of contingent 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. Actual results could differ from these estimates.</p> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:4.54%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On an on-going basis, management evaluates its estimates, primarily those related to: (i) revenue recognition criteria, (ii) accounts receivable and allowances for doubtful accounts, (iii) the useful lives of fixed assets, (iv) estimates of tax liabilities and (v) equity method investments.</p></div>
us-gaap Concentration Risk Credit Risk
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<div> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:18pt;text-indent:0%;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Concentration of Customers</p> <p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;text-indent:4.54%;">In certain periods, a small number of customers has accounted for a significant portion of the Company&#8217;s revenue. <font style="Background-color:#FFFFFF;">In the three and six months ended June 30, 2018, after aggregating customers that are under common control or are affiliates, </font><font style="color:#000000;">one</font><font style="Background-color:#FFFFFF;"> customer contributed 13% of our revenue.</font> In the three months ended June 30, 2017, after <font style="Background-color:#FFFFFF;">aggregating customers that are under common control or are affiliates, two customers contributed 13% and 12% of our revenue, and another two customers represent one customer for concentration disclosure purposes as they are managed by the same foreign governmental body, which contributed 11% of our revenue collectively. </font>In the six months ended June 30, 2017, after <font style="Background-color:#FFFFFF;">aggregating customers that are under common control or are affiliates, three customers contributed 12%, 11% and 11% of our revenue, and the first customer and another customer represent one customer for concentration disclosure purposes as they are managed by the same foreign governmental body and contributed, which contributed 21% of our revenue collectively.</font> </p></div>
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573000
CY2018Q2 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.30
CY2017Q4 us-gaap Equity Method Investment Ownership Percentage
EquityMethodInvestmentOwnershipPercentage
0.30

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