Fulgent Genetics Inc (FLGT)

Pretax margin

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 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm) US$ in thousands -166,645 -60,868 -65,954 -37,388 185,552 370,257 528,191 617,355 682,159 755,550 656,647 555,968 286,842 61,630 1,989 -395 -368 -1,199 -3,635 -5,122
Revenue (ttm) US$ in thousands 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 32,528 29,814 25,092 22,068
Pretax margin -57.62% -21.25% -21.46% -10.25% 29.98% 46.11% 57.09% 64.75% 68.73% 72.94% 72.18% 71.89% 68.02% 45.61% 4.55% -1.13% -1.13% -4.02% -14.49% -23.21%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $-166,645K ÷ $289,213K
= -57.62%

Fulgent Genetics Inc's pretax margin has shown a downward trend over the past eight quarters, as indicated by the data provided. The company experienced negative pretax margins in the most recent quarters, with Q4 2023 recording a significant decline to -60.19%. This suggests that the company's pre-tax earnings were insufficient to cover its operating expenses and other costs.

The declining trend in pretax margin raises concerns about Fulgent Genetics Inc's ability to generate profits before accounting for taxes. The substantial decrease in profitability from Q4 2022 to Q4 2023 is particularly noteworthy and indicates a significant deterioration in the company's financial performance.

Overall, the pretax margin analysis underscores the importance of monitoring Fulgent Genetics Inc's profitability metrics closely to assess its financial health and sustainability.