Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2022

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Data

The tables below set forth the Company’s quarterly Consolidated Statements of Income data for the eight quarters ended December 31, 2022.

	Three Months Ended
	Dec. 31, 2022			Sept. 30, 2022		June 30, 2022		Mar. 31, 2022		Dec. 31, 2021			Sept. 30, 2021		June 30, 2021		Mar. 31, 2021
	(dollars in thousands, except per share data)
Statement of Operations Data:
Revenue	$	67,704		$	105,655	$	125,341	$	320,268	$	251,671		$	227,868	$	153,616	$	359,429
Cost of revenue		54,717			59,560		60,065		77,725		62,134			43,466		35,858		74,075
Gross profit		12,987			46,095		65,276		242,543		189,537			184,402		117,758		285,354
Operating expenses:
Research and development		8,509			7,507		6,905		5,989		7,464			6,021		5,312		5,422
Selling and marketing		10,253			9,859		10,866		7,940		8,200			6,012		5,219		5,008
General and administrative		28,793			26,266		30,240		25,775		22,102			12,299		8,329		8,002
Amortization of intangible assets		2,010			2,006		1,575		906		911			797		—		—
Restructuring costs		(26	)		105		2,896		—		—			—		—		—
Total operating expenses		49,539			45,743		52,482		40,610		38,677			25,129		18,860		18,432
Operating (loss) income		(36,552	)		352		12,794		201,933		150,860			159,273		98,898		266,922
Interest and other income (expense), net		3,090			1,405		958		45		(35	)		496		604		282
(Loss) income before income taxes and gain on equity method investment		(33,462	)		1,757		13,752		201,978		150,825			159,769		99,502		267,204
(Benefit from) provision for income taxes		(9,386	)		414		2,653		48,421		47,148			37,545		23,589		66,513
(Loss) income before gain on equity method investment		(24,076	)		1,343		11,099		153,557		103,677			122,224		75,913		200,691
Gain on equity method investment		—			—		—		—		—			—		3,734		—
Net (loss) income from consolidated operations		(24,076	)		1,343		11,099		153,557		103,677			122,224		79,647		200,691
Net loss attributable to noncontrolling interests		244			376		438		422		662			298		165		—
Net (loss) income attributable to Fulgent	$	(23,832	)	$	1,719	$	11,537	$	153,979	$	104,339		$	122,522	$	79,812	$	200,691
Net (loss) income per common share attributable to Fulgent:
Basic	$	(0.80	)	$	0.06	$	0.38	$	5.09	$	3.48		$	4.13	$	2.74	$	6.96
Diluted	$	(0.80	)	$	0.06	$	0.37	$	4.93	$	3.34		$	3.93	$	2.59	$	6.52