Selected Quarterly Financial Data (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2021

Quarterly Financial Information Disclosure [Abstract]

Unaudited Quarterly Data

The tables below set forth the Company’s quarterly Consolidated Statements of Operations data for the eight quarters ended December 31, 2021.

	Three Months Ended
	Dec. 31, 2021			Sept. 30, 2021		June 30, 2021		Mar. 31, 2021		Dec. 31, 2020			Sept. 30, 2020			June 30, 2020			Mar. 31, 2020
	(dollars in thousands, except per share data)
Statement of Operations Data:
Revenue	$	251,671		$	227,868	$	153,616	$	359,429	$	294,978		$	101,716		$	17,265		$	7,753
Cost of revenue		62,134			43,466		35,858		74,075		51,772			26,261			7,717			4,057
Gross profit		189,537			184,402		117,758		285,354		243,206			75,455			9,548			3,696
Operating expenses:
Research and development		7,464			6,021		5,312		5,422		4,576			3,177			1,849			1,978
Selling and marketing		8,200			6,012		5,219		5,008		5,081			5,014			3,260			1,597
General and administrative		22,102			12,299		8,329		8,002		7,640			3,741			1,799			2,035
Amortization of intangible assets		911			797		—		—		—			—			—			—
Total operating expenses		38,677			25,129		18,860		18,432		17,297			11,932			6,908			5,610
Operating income (loss)		150,860			159,273		98,898		266,922		225,909			63,523			2,640			(1,914	)
Interest and other (expense) income, net		(35	)		496		604		282		589			421			275			241
Income (loss) before income taxes, equity earnings (loss) in investee and gain (loss) on equity-method investments		150,825			159,769		99,502		267,204		226,498			63,944			2,915			(1,673	)
Provision for (benefit from) income taxes		47,148			37,545		23,589		66,513		58,571			14,526			(599	)		34
Income (loss) before equity earnings (loss) in investee and gain (loss) on equity-method investments		103,677			122,224		75,913		200,691		167,927			49,418			3,514			(1,707	)
Equity earnings (loss) in investee		—			—		—		—		143			(189	)		(193	)		(249	)
Gain (loss) on equity-method investments		—			—		3,734		—		(1,763	)		(2,591	)		—			—
Net income (loss) from consolidated operations		103,677			122,224		79,647		200,691		166,307			46,638			3,321			(1,956	)
Net loss attributable to noncontrolling interests		662			298		165		—		—			—			—			—
Net income (loss) attributable to Fulgent	$	104,339		$	122,522	$	79,812	$	200,691	$	166,307		$	46,638		$	3,321		$	(1,956	)
Net income (loss) per common share attributable to Fulgent:
Basic	$	3.48		$	4.13	$	2.74	$	6.96	$	6.55		$	2.11		$	0.15		$	(0.09	)
Diluted	$	3.34		$	3.93	$	2.59	$	6.52	$	6.16		$	1.98		$	0.14		$	(0.09	)