Fulgent Genetics Inc (FLGT)

Gross profit margin

Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Gross profit (ttm) US$ in thousands 103,235 94,657 107,730 103,801 102,498 92,214 98,465 143,169 366,901 543,451 681,758 734,240 777,051 830,720 721,773 613,563 331,905 93,452 24,459 19,715
Revenue (ttm) US$ in thousands 283,470 277,761 290,705 287,530 289,213 286,412 307,380 364,868 618,968 802,935 925,148 953,423 992,584 1,035,891 909,739 773,388 421,712 135,121 43,752 34,911
Gross profit margin 36.42% 34.08% 37.06% 36.10% 35.44% 32.20% 32.03% 39.24% 59.28% 67.68% 73.69% 77.01% 78.29% 80.19% 79.34% 79.33% 78.70% 69.16% 55.90% 56.47%

December 31, 2024 calculation

Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $103,235K ÷ $283,470K
= 36.42%

Fulgent Genetics Inc's gross profit margin has shown fluctuations over the analyzed periods. The margin started at 56.47% in March 2020 and generally increased over the next few quarters, reaching a peak of 80.19% in September 2021. This upward trend indicates improved efficiency in generating revenue from the company's core operations.

However, from December 2021 onwards, the gross profit margin began to decline steadily, falling to 36.42% by December 2024. This decrease may suggest either an increase in the cost of goods sold or challenges in maintaining pricing power in a competitive market.

The declining trend in the gross profit margin warrants a closer look into the company's cost structure, pricing strategies, and overall operational efficiency to address any potential underlying issues affecting profitability.