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Leases - Schedule of Maturity Analysis of Operating and Finance Lease Liabilities using Undiscounted Cash Flows on an Annual Basis (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Operating Leases
2026 (remaining 6 months)	$ 1,190
2027	1,945
2028	1,235
2029	1,071
2030	1,079
2031	1,089
Thereafter	1,272
Total lease payments	8,881
Less imputed interest	(1,417)
Total	7,464
Finance Lease
2026 (remaining 6 months)	183
Total lease payments	183
Less imputed interest	(2)
Total	$ 181

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flow from operating activities:
Net loss from consolidated operations	$ (54,993)	$ (31,155)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Equity-based compensation	18,514	20,589
Depreciation and amortization	13,676	11,973
Adjustment for credit losses	4,856	4,666
Noncash lease expense	868	712
Loss (gain) on disposal of fixed asset	10	(2)
Amortization of premium of marketable securities	(1,633)	(3,064)
Deferred taxes	(1,210)	(246)
Unrecognized tax benefits	89	274
Net (gain) loss on marketable securities	(90)	0
Impairment of equity securities	0	9,926
Impairment of intangible assets	2,172	0
Other	(46)	33
Changes in operating assets and liabilities:
Trade accounts receivable	17,160	(12,781)
Income tax	(2,798)	(33,032)
Other current and long-term assets	5,071	346
Accounts payable	(3,823)	(272)
Contract liabilities	(231)	438
Customer deposits	652	(16)
Accrued liabilities and other liabilities	(14,019)	(2,282)
Operating lease liabilities	(886)	(709)
Net cash used in operating activities	(16,661)	(34,602)
Cash flow from investing activities:
Maturities of marketable securities	103,226	92,675
Proceeds from sale of fixed assets	8	2
Proceeds from sale of marketable securities	33,144	0
Purchase of marketable securities	(10,011)	0
Purchases of fixed assets	(9,060)	(11,544)
Acquisition of businesses, net of cash	(55,567)	0
Net cash provided by investing activities	61,740	81,133
Cash flow from financing activities:
Repurchase of common stock	(63,883)	(10,884)
Common stock withholding for employee tax obligations	(4,534)	(2,232)
Repayment of notes payable	(476)	(471)
Principal paid for finance lease	(176)	(223)
Proceeds from exercise of stock options	11	0
Net cash used in financing activities	(69,058)	(13,810)
Effect of exchange rate changes on cash and cash equivalents	91	15
Net (decrease) increase in cash, cash equivalents, and restricted cash	(23,888)	32,736
Cash, cash equivalents, and restricted cash at beginning of period	50,328	55,279
Cash, cash equivalents, and restricted cash at end of period	26,440	88,015
Supplemental disclosures of cash flow information:
Income taxes paid, net of refunds received	25	31,111
Interest Paid	92	44
Supplemental disclosures of non-cash investing and financing activities:
Purchases of fixed assets in accounts payable	438	2,581
Acquisition of business in accrued liabilities	286	0
Operating lease right-of-use assets obtained in exchange for lease liabilities	203	38
Operating lease right-of-use assets reduced due to lease modification and termination	0	(46)
Excise tax payable on common stock repurchases not yet remitted	$ 531	$ 0

Loss per Share (Tables)

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Reconciliation of the Basic and Diluted Loss per Share Computations

The following is a reconciliation of the basic and diluted loss per share computations for the three and six months ended June 30, 2026, and 2025:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	(in thousands)
Net loss attributable to Fulgent	$	(29,530	)	$	(18,957	)	$	(54,356	)	$	(30,487	)

Weighted-average common shares - outstanding, basic		28,005			30,544			29,435			30,687
Weighted-average common shares - outstanding, diluted		28,005			30,544			29,435			30,687

Loss per share:
Basic	$	(1.05	)	$	(0.62	)	$	(1.85	)	$	(0.99	)
Diluted	$	(1.05	)	$	(0.62	)	$	(1.85	)	$	(0.99	)

Anti-dilutive Securities Excluded from Calculation of Diluted Loss per Share

The following securities have been excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Stock options		75		101		75		101
Restricted stock units		2,458		2,187		2,458		2,187
Contingently issuable shares		293		—		293		—

Debt, Commitments and Contingencies - Additional Information (Details) - USD ($) $ in Thousands	6 Months Ended	36 Months Ended
	Jun. 30, 2026	Dec. 31, 2022	Dec. 31, 2025
Debt, Commitments and Contingencies [Line Items]
Notes payable, current portion	$ 482		$ 476
Notes payable, noncurrent portion	1,476		$ 1,958
Accrual in connection with settlement of professional liability	14,500
HRSA Uninsured Program Member
Debt, Commitments and Contingencies [Line Items]
Contingencies reimbursements		$ 548,900
Installment Sale Contract
Debt, Commitments and Contingencies [Line Items]
Notes payable	2,000
Notes payable, current portion	$ 500
Debt instrument, interest rate terms	The notes payable related to the installment sale are due in February 2030, and the interest rate is 1.08%.
Debt instrument, interest rate	1.08%
Installment Sale Contract \| Other Long-Term Liabilities
Debt, Commitments and Contingencies [Line Items]
Notes payable, noncurrent portion	$ 1,500

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Pay vs Performance Disclosure
Net Income (Loss)	$ (29,530)	$ (18,957)	$ (54,356)	$ (30,487)

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Equity-Based Compensation - Additional Information (Details) - 2026 Equity Incentive Plan	May 14, 2026 shares
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Issuance of new shares	2,000,000
Additional shares of common stock to extent awards outstanding	1,500,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

Reportable Segments and Geographic Information - Schedule of Information Regarding Operations and Assets for Operating Segments (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Segment Reporting Information [Line Items]
Revenue	$ 85,389,000	$ 81,803,000	$ 156,527,000	$ 155,266,000
Cost of revenue	59,710,000	47,368,000	109,358,000	92,485,000
Research and development	14,554,000	13,480,000	28,730,000	25,875,000
Selling and Marketing Expense	15,228,000	12,286,000	27,449,000	20,751,000
General and Administrative Expense	27,195,000	26,392,000	54,879,000	51,683,000
Operating loss	(36,073,000)	(19,713,000)	(70,695,000)	(39,508,000)
Less (add):
Equity-based compensation	8,624,000	10,039,000	18,514,000	20,589,000
Amortization of intangible assets	2,603,000	1,990,000	4,634,000	3,980,000
Interest income	(6,404,000)	(8,091,000)	(15,055,000)	(16,109,000)
Interest expense	59,000	17,000	76,000	31,000
Impairment loss	0	9,926,000	0	9,926,000	$ 9,900,000
Other income, net	(38,000)	(46,000)	(48,000)	(114,000)
Loss before income taxes	(29,690,000)	(21,519,000)	(55,668,000)	(33,242,000)
Operating Segments
Segment Reporting Information [Line Items]
Revenue	85,389,000	81,803,000	156,527,000	155,266,000
Cost of revenue	58,625,000	45,631,000	106,812,000	88,968,000
Research and development	11,418,000	10,141,000	22,057,000	19,062,000
Selling and Marketing Expense	14,663,000	11,575,000	26,239,000	19,150,000
General and Administrative Expense	23,089,000	22,140,000	43,498,000	43,025,000
Operating loss	(22,406,000)	(7,684,000)	(42,079,000)	(14,939,000)
Material Reconciling Items
Less (add):
Equity-based compensation	8,624,000	10,039,000	18,514,000	20,589,000
Acquisition-related costs	17,000	0	2,649,000	0
Acquisition-related severance	251,000	0	647,000	0
Amortization of intangible assets	2,603,000	1,990,000	4,634,000	3,980,000
Intangible impairment loss	2,172,000	0	2,172,000	0
Interest income	(6,404,000)	(8,091,000)	(15,055,000)	(16,109,000)
Interest expense	59,000	17,000	76,000	31,000
Impairment loss	0	9,926,000	0	9,926,000
Other income, net	(38,000)	(46,000)	(48,000)	(114,000)
Laboratory Services
Segment Reporting Information [Line Items]
Revenue	85,359,000	81,803,000	156,410,000	155,266,000
Laboratory Services \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	85,359,000	81,803,000	156,410,000	155,266,000
Cost of revenue	58,617,000	45,631,000	106,797,000	88,968,000
Research and development	6,823,000	5,435,000	13,284,000	10,366,000
Selling and Marketing Expense	14,663,000	11,575,000	26,239,000	19,150,000
General and Administrative Expense	22,698,000	21,970,000	42,750,000	42,595,000
Operating loss	(17,442,000)	(2,808,000)	(32,660,000)	(5,813,000)
Laboratory Services \| Material Reconciling Items
Less (add):
Equity-based compensation	6,501,000	8,034,000	14,142,000	16,566,000
Interest income	(6,404,000)	(8,091,000)	(15,055,000)	(16,109,000)
Interest expense	59,000	17,000	76,000	31,000
Laboratory Services \| Precision Diagnostics \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	41,453,000	47,428,000	81,691,000	91,525,000
Laboratory Services \| Anatomic Pathology \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	37,497,000	28,122,000	62,577,000	53,422,000
Laboratory Services \| BioPharma Services \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	6,409,000	6,253,000	12,142,000	10,319,000
Therapeutic Development
Segment Reporting Information [Line Items]
Revenue	30,000	0	117,000	0
Therapeutic Development \| Operating Segments
Segment Reporting Information [Line Items]
Cost of revenue	8,000	0	15,000	0
Research and development	4,595,000	4,706,000	8,773,000	8,696,000
Selling and Marketing Expense	0	(0)	0	0
General and Administrative Expense	391,000	170,000	748,000	430,000
Operating loss	(4,964,000)	(4,876,000)	9,419,000	(9,126,000)
Therapeutic Development \| Material Reconciling Items
Less (add):
Equity-based compensation	2,123,000	2,005,000	4,372,000	4,023,000
Interest income	0	0	0	0
Interest expense	0	0	0	0
Therapeutic Development \| BioPharma Services
Segment Reporting Information [Line Items]
Revenue	$ 30,000	$ 0	$ 117,000	$ 0

Leases - Schedule of Operating and Financing Lease Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Leases [Abstract]
Operating lease cost	$ 654	$ 446	$ 1,139	$ 881
Finance lease cost:
Amortization of ROU assets	85	85	169	217
Interest on lease liabilities	2	5	5	11
Short-term lease cost	535	396	1,021	957
Total lease cost	$ 1,276	$ 932	$ 2,334	$ 2,066

Reportable Segments and Geographic Information - Schedule of Revenue by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 85,389	$ 81,803	$ 156,527	$ 155,266
Laboratory Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	85,359	81,803	156,410	155,266
Therapeutic Development
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	30	0	117	0
BioPharma Services \| Therapeutic Development
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	30	0	117	0
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	85,389	81,803	156,527	155,266
Operating Segments \| Laboratory Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	85,359	81,803	156,410	155,266
Operating Segments \| Precision Diagnostics \| Laboratory Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	41,453	47,428	81,691	91,525
Operating Segments \| Anatomic Pathology \| Laboratory Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	37,497	28,122	62,577	53,422
Operating Segments \| BioPharma Services \| Laboratory Services
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenue	$ 6,409	$ 6,253	$ 12,142	$ 10,319

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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+ Details

Goodwill and Intangible Assets

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Intangible Assets

Note 17. Goodwill and Intangible Assets

The Company has identified its laboratory services business and its therapeutic development business as its two operating segments, and the Company determined that the operating segments represented the two reporting units.

The changes in the carrying amounts of goodwill for the laboratory services segment and the therapeutic development segment in the six months ended June 30, 2026 were as follows:


	Laboratory Services		Therapeutic Development
	(in thousands)
Balance at December 31, 2025	$	—	$	25,080
Acquisition		31,379		—
Measurement period adjustment		130		(2,728	)
Balance at June 30, 2026	$	31,509	$	22,352

As of June 30, 2026, the Company identified indicators requiring an interim goodwill impairment assessment for its Therapeutic Development and Laboratory Services reporting units, including the loss of a significant customer within its ANP business and a sustained disconnect between the Company's market capitalization and its tangible net asset value. As a result, the Company engaged a third-party valuation specialist and performed an interim quantitative goodwill impairment test for both reporting units, and a corresponding quantitative recoverability test for its indefinite-lived in-process research and development ("IPR&D").

Laboratory Services

The change in goodwill for the laboratory services segment reflects goodwill arising from the Bako Acquisition, including a post-closing purchase price adjustment. The newly acquired entity, Bako, is considered part of the laboratory services segment. See Note 15. Business Combinations, for further details.

The fair values of the Company’s laboratory services reporting unit remain higher than the carrying value recorded. The fair value of this reporting unit was $1,045.0 million and exceeded the carrying value of $943.5 million by approximately 11%.

Based upon the results of the quantitative assessments the Company performed as of June 30, 2026, the Company concluded that the fair values of the laboratory services reporting unit, were greater than the carrying values and that there was no impairment. However, this remains at heightened risk of future impairment given the narrow margin between estimated fair value and carrying value. While no impairment was recorded as of June 30, 2026, future developments such as deterioration in business performance and the ability to achieve revenue growth targets as well as projected cost of revenue and operating expense targets could reduce the fair value of this reporting unit and lead to impairment in a future period.

Therapeutic Development

The decrease in goodwill for the therapeutic development segment reflects a measurement period adjustment related to the ANP acquisition, resulting from the finalization of deferred tax liabilities. See Note 15. Business Combinations, for further details.

During the year ended December 31, 2025, the Company recorded $2.3 million of customer relationships and $3.9 million of IPR&D attributable to the acquisition of ANP. During the three months ended June 30, 2026, the Company identified a triggering event with respect to a finite-lived customer relationship intangible asset acquired as part of the ANP acquisition, resulting from loss of a significant customer relationship. As a result, the Company recorded an impairment charge of $2.2 million during the three months ended June 30, 2026, representing the remaining net carrying value of the intangible asset after accumulated amortization since the ANP acquisition date, effectively writing off the asset in its entirety. The impairment charge is reflected within a separate line item in the Condensed Consolidated Statements of Operations.

The fair value of the Company’s therapeutic development reporting unit was calculated using the income approach weighted at 100% with a WACC of 47%. The fair value of the IPR&D was appraised using the income approach known as multi-period excess earnings method with a WACC of 49%.

The fair values of the Company’s therapeutic development reporting unit and IPR&D remain substantially higher than the carrying value recorded. The fair value of this reporting unit was $270.0 million and exceeded the carrying value of $54.6 million by approximately 395%, and the fair value of IPR&D was $265.0 million and exceeded the carrying value of $68.5 million by approximately 287%.

Based upon the results of the quantitative assessments the Company performed as of June 30, 2026, the Company concluded that the fair values of the therapeutic development reporting unit and the IPR&D asset at June 30, 2026, were greater than the carrying values and that there was no additional impairment.

There can be no assurance that the estimates and assumptions management made for the purposes of the goodwill or IPR&D impairment analysis will prove to be accurate predictions of future performance. It is possible that the conclusions regarding impairment or recoverability of goodwill or intangible assets could change in future periods. Management will continue to monitor the therapeutic development reporting unit. For all IPR&D projects, there are major risks and uncertainties associated with the timely and successful completion of development and commercialization of these product candidates, including the ability to confirm their efficacy based on data from clinical trials, the ability to obtain necessary regulatory approvals, and the ability to successfully complete these tasks within budgeted costs. The Company is not able to market a human therapeutic product without obtaining regulatory approvals, and such approvals require completing clinical trials that demonstrate a product candidate is safe and effective. In addition, the availability and extent of coverage and reimbursement from insurance payors, including government healthcare programs and private insurance plans, impact the revenues a product can generate. Consequently, the eventual realized value, if any, of these acquired IPR&D projects may vary from their estimated fair values.

Summaries of intangible assets balances as of June 30, 2026, and December 31, 2025, were as follows:


	Weighted-Average Amortization Period	June 30, 2026			December 31, 2025
		(in thousands)
Laboratory Services
Customer relationships	12 Years	$	105,170		$	83,135
Less: accumulated amortization			(29,439	)		(25,633	)
Customer relationships, net			75,731			57,502

Royalty-free technology	10 Years		5,453			5,291
Less: accumulated amortization			(2,818	)		(2,469	)
Royalty-free technology, net			2,635			2,822

Trade name	7 Years		4,490			3,790
Less: accumulated amortization			(2,201	)		(1,896	)
Trade name, net			2,289			1,894

Laboratory information system platform	5 Years		1,860			1,860
Less: accumulated amortization			(1,829	)		(1,643	)
Laboratory information system platform, net			31			217

In-place lease intangible assets	5 Years		360			360
Less: accumulated amortization			(290	)		(255	)
In-place lease intangible assets, net			70			105

Purchased patent	10 Years		29			29
Less: accumulated amortization			(16	)		(14	)
Purchased patent, net			13			15
Total			80,769			62,555

Therapeutic Development
Customer relationships	18 Years		2,300			2,300
Less: accumulated amortization			(128	)		(64	)
Less: accumulated impairment			(2,172	)		—
Customer relationships, net			—			2,236

In-process research & development	n/a		68,490			68,490
Total			68,490			70,726
Total intangible assets, net		$	149,259		$	133,281

Acquisition-related intangibles included in the above tables are generally finite-lived and are carried at cost less accumulated amortization, except for IPR&D, which is related to the acquisitions of Fulgent Pharma in 2022 and ANP in 2025, and has an indefinite life until research and development efforts are completed or abandoned. All other finite-lived acquisition-related intangibles related to the business combinations are amortized on a straight-line basis over their estimated lives, which approximates the pattern in which the economic benefits of the intangible assets are expected to be realized.

During the six months ended June 30, 2026, the Company recorded $22.0 million of customer relationships and $0.7 million of trade name attributable to the acquisition of Bako. See more details in Note 15. Business Combinations.

Amortization of intangible assets was $2.6 million and $4.6 million in each of the three and six months ended June 30, 2026, respectively, and $2.0 million and $4.0 million in each of the three and six months ended June 30, 2025, respectively.

Based on the carrying value of intangible assets recorded as of June 30, 2026, and assuming no subsequent impairment of the underlying assets, the annual amortization expense for intangible assets is expected to be as follows:


	Amounts
	(in thousands)
Year ending December 31,
2026 (remaining 6 months)	$	4,949
2027		9,667
2028		9,633
2029		9,200
2030		9,014
2031		8,602
Thereafter		29,704
Total	$	80,769

Goodwill and Intangible Assets - Summary of Annual Amortization Expense For Acquisition-Related Intangibles (Details) $ in Thousands	Jun. 30, 2026 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2026 (remaining 6 months)	$ 4,949
2027	9,667
2028	9,633
2029	9,200
2030	9,014
2031	8,602
Thereafter	29,704
Total	$ 80,769

Leases

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Leases

Note 9. Leases

Lessee

The Company is a lessee to various non-cancelable operating leases with varying terms through March 2034, primarily for laboratory and office space and equipment. The Company has options to renew some of these leases after their expiration. On a lease-by-lease basis, the Company considers such options, which may be elected at the Company’s sole discretion, in determining the lease term. The Company also has various finance leases for lab equipment with varying terms through December 2026, some of which were acquired in business combinations. The Company does not have any leases with variable lease payments. The Company’s operating lease agreements do not contain any residual value guarantees, material restrictive covenants, bargain purchase options, or asset retirement obligations.

The operating and finance lease right-of-use asset, or ROU asset, short-term lease liabilities, and long-term lease liabilities as of June 30, 2026, and December 31, 2025, were as follows:


	June 30, 2026		December 31, 2025
	(in thousands)
Operating lease ROU asset, net	$	7,198	$	4,961
Operating lease liabilities, short term	$	1,855	$	1,462
Operating lease liabilities, long term	$	5,609	$	3,781
Finance lease ROU asset, net	$	169	$	339
Finance lease liabilities, short term	$	181	$	360
Finance lease liabilities, long term	$	—	$	—

The following was operating and finance lease expense:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Operating lease cost	$	654	$	446	$	1,139	$	881
Finance lease cost:
Amortization of ROU assets		85		85		169		217
Interest on lease liabilities		2		5		5		11
Short-term lease cost		535		396		1,021		957
Total lease cost	$	1,276	$	932	$	2,334	$	2,066

Supplemental information related to leases was the following:


	June 30, 2026
Weighted-average remaining lease term, operating leases	5.32 years
Weighted-average discount rate, operating leases		6.11	%
Weighted-average remaining lease term, finance lease	0.5 years
Weighted-average discount rate, finance lease		3.21	%

The following is a maturity analysis of operating and finance lease liabilities using undiscounted cash flows on an annual basis with renewal periods included:


	Operating Leases			Finance Lease
	(in thousands)
Year ending December 31,
2026 (remaining 6 months)		1,190			183
2027		1,945			—
2028		1,235			—
2029		1,071			—
2030		1,079			—
2031		1,089			—
Thereafter		1,272			—
Total lease payments		8,881			183
Less imputed interest		(1,417	)		(2	)
Total	$	7,464		$	181

Stock Repurchase Program - Additional Information (Details) - USD ($) shares in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Stock repurchase program, authorized amount					$ 250,000,000
Number of shares repurchased	1.5	0.2	4.1	0.6
Aggregate cost of shares repurchased	$ 23,800,000	$ 3,000,000	$ 63,900,000	$ 10,900,000
Stock repurchase program, remaining authorized amount	$ 75,800,000		$ 75,800,000

- Definition

Number of shares that have been repurchased during the period and have not been retired and are not held in treasury. Some state laws may govern the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

- Definition

Equity impact of the value of stock that has been repurchased during the period and has not been retired and is not held in treasury. Some state laws may mandate the circumstances under which an entity may acquire its own stock and prescribe the accounting treatment therefore. This element is used when state law does not recognize treasury stock.

+ References + Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2026
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Loss per Share - Anti-dilutive Securities Excluded from Calculation of Diluted Loss Per Share (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Stock Options
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted income per share	75	101	75	101
Restricted Stock Units
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted income per share	2,458	2,187	2,458	2,187
Contingently Issuable Shares
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from calculation of diluted income per share	293		293

Fair Value Measurements - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Fair Value Disclosures [Abstract]
Fair value assets, transfers between levels, amount	$ 0	$ 0	$ 0	$ 0
Impairment loss	$ 0	$ 9,926,000	$ 0	$ 9,926,000	$ 9,900,000

Equity-Based Compensation - Summary of Equity-Based Compensation Expenses as Part of Cost of Revenue and Operating Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total Equity-based compensation expense	$ 8,624	$ 10,039	$ 18,514	$ 20,589
Cost of Revenue
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total Equity-based compensation expense	1,085	1,737	2,546	3,517
Research and Development
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total Equity-based compensation expense	3,136	3,339	6,673	6,813
Selling and Marketing
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total Equity-based compensation expense	565	711	1,210	1,601
General and Administrative
Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Total Equity-based compensation expense	$ 3,838	$ 4,252	$ 8,085	$ 8,658

Retirement Plans - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Defined Contribution Plan Disclosure [Line Items]
Company matching contributions to the 401(k) plan	$ 1.4	$ 1.0	$ 2.8	$ 2.2
Maximum
Defined Contribution Plan Disclosure [Line Items]
Employer matching contribution, percent of match			4.00%

Reportable Segments and Geographic Information - Summary of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting Information [Line Items]
Revenue	$ 85,389	$ 81,803	$ 156,527	$ 155,266
Operating Segments
Segment Reporting Information [Line Items]
Revenue	85,389	81,803	156,527	155,266
United States \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	78,293	76,207	143,369	144,033
China \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	3,081	2,407	5,640	5,018
Other countries \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	4,045	3,189	7,518	6,215
Foreign \| Operating Segments
Segment Reporting Information [Line Items]
Revenue	$ 7,096	$ 5,596	$ 13,158	$ 11,233

- Definition

+ References

+ Details

Goodwill and Intangible Assets - Summary of Carrying Amounts of Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2026 USD ($)
Goodwill [Line Items]
Goodwill, Beginning Balance	$ 25,080
Goodwill, Ending Balance	53,861
Therapeutic Development
Goodwill [Line Items]
Goodwill, Beginning Balance	25,080
Measurement period adjustment	(2,728)
Goodwill, Ending Balance	22,352
Laboratory Services
Goodwill [Line Items]
Goodwill acquired	31,379
Measurement period adjustment	130
Goodwill, Ending Balance	$ 31,509

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References

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+ Details

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents, and Restricted Cash (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025	Jun. 30, 2025	Dec. 31, 2024
Reconciliation to Cash Flow [Abstract]
Cash and cash equivalents	$ 26,305	$ 50,193	$ 87,880
Restricted cash included in Other long-term assets	135		135
Total cash, cash equivalents, and restricted cash	$ 26,440	$ 50,328	$ 88,015	$ 55,279

Reportable Segments and Geographic Information - Schedule of Interest Income and Expense by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Interest income	$ 6,404	$ 8,091	$ 15,055	$ 16,109
Interest expense	(59)	(17)	(76)	(31)
Material Reconciling Items
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Interest income	6,404	8,091	15,055	16,109
Interest expense	(59)	(17)	(76)	(31)
Interest income and expense	6,345	8,074	14,979	16,078
Laboratory Services \| Material Reconciling Items
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Interest income	6,404	8,091	15,055	16,109
Interest expense	(59)	(17)	(76)	(31)
Therapeutic Development \| Material Reconciling Items
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Interest income	0	0	0	0
Interest expense	$ 0	$ 0	$ 0	$ 0

Fixed Assets (Tables)

6 Months Ended

Jun. 30, 2026

Property, Plant and Equipment [Abstract]

Major Classes of Fixed Assets

Major classes of fixed assets consisted of the following:


	Useful Lives	June 30, 2026			December 31, 2025
		(in thousands)
Medical lab equipment	5 months to 13 Years	$	64,343		$	60,691
Building improvements	6 months to 39 Years		35,620			33,198
Building	25 to 39 Years		21,689			21,689
Computer hardware	1 to 5 Years		9,836			8,640
Aircraft	7 Years		6,400			6,400
Computer software	1 to 10 Years		6,357			6,300
Leasehold improvements	Shorter of lease term or estimated useful life		4,503			4,473
Furniture and fixtures	1 to 11 Years		4,452			4,128
Land improvements	5 to 15 Years		938			938
Automobile	3 to 7 Years		613			628
General equipment	5 Years		258			226
Land			17,347			17,347
Assets not yet placed in service			5,007			5,836
Total			177,363			170,494
Less: Accumulated depreciation			(64,295	)		(57,945	)
Fixed assets, net		$	113,068		$	112,549

Fair Value Measurements

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Fair Value Measurements

Note 4. Fair Value Measurements

The authoritative guidance on fair value measurements establishes a framework with respect to measuring assets and liabilities at fair value on a recurring basis and non-recurring basis. Under the framework, fair value is defined as the exit price, or the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, as of the measurement date. The framework also establishes a three-tier hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors market participants would use in valuing the asset or liability and are developed based on the best information available in the circumstances. The hierarchy consists of the following three levels:


Level 1:	Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity can access at the measurement date.
Level 2:	Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly.
Level 3:	Inputs are unobservable for the asset or liability.

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:


	June 30, 2026
	Total		Level 1		Level 2		Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	401,909	$	—	$	401,909	$	—
U.S. agency debt securities		80,954		—		80,954		—
Corporate debt securities		40,887		—		40,887		—
Preferred stock of privately-held companies		15,001		—		—		15,001
Money market accounts		5,108		5,108		—		—
Municipal bonds		1,293		—		1,293		—
Total equity securities, debt securities and cash equivalents	$	545,152	$	5,108	$	525,043	$	15,001


	December 31, 2025
	Total		Level 1		Level 2		Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	448,233	$	—	$	448,233	$	—
U.S. agency debt securities		157,557		—		157,557		—
Corporate debt securities		47,481		—		47,481		—
Money market accounts		18,398		18,398		—		—
Preferred stock of privately-held companies		15,001		—		—		15,001
Municipal bonds		1,387		—		1,387		—
Yankee debt securities		495		—		495		—
Total equity securities, debt securities and cash equivalents	$	688,552	$	18,398	$	655,153	$	15,001

The Company’s Level 1 assets include money market instruments and are valued based upon observable market prices. Level 2 assets consist of U.S. government and U.S. agency debt securities, municipal bonds, corporate debt securities and Yankee debt securities. Level 2 securities are valued based upon observable inputs that include reported trades, broker/dealer quotes, bids and offers.

As of June 30, 2026, and December 31, 2025, the Company held preferred stock of two privately held companies, which were included in other long-term assets in the accompanying Condensed Consolidated Balance Sheets, that were measured using unobservable (Level 3) inputs. For the value of the investment in private equity securities, the Company elected to measure such investments at cost minus impairment, as the preferred stock of the privately held companies did not have a readily determinable fair value.

An impairment of $9.9 million was recognized in 2025 related to Helio Genomics, Inc. There was no impairment loss recorded as of June 30, 2026, for the other preferred stock investment.

There were no transfers between fair value measurement levels during the three and six months ended June 30, 2026, and 2025.

Equity and Debt Securities (Tables)

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Summary of Equity and Debt Securities

The Company’s equity and debt securities consisted of the following:


	June 30, 2026
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities
Long-term
Preferred stock of privately-held companies	$	15,001		$	—	$	—		$	15,001
Total equity securities		15,001			—		—			15,001
Available-for-sale debt securities
Short-term
U.S. government debt securities		156,278			220		—			156,498
Corporate debt securities		40,855			35		(3	)		40,887
U.S. agency debt securities		32,960			11		(4	)		32,967
Municipal bonds		375			—		—			375
Money market accounts		5,108			—		—			5,108
Less: Cash equivalents		(5,108	)		—		—			(5,108	)
Total debt securities due within 1 year		230,468			266		(7	)		230,727
After 1 year through 5 years
U.S. government debt securities		246,904			195		(1,688	)		245,411
U.S. agency debt securities		48,617			—		(630	)		47,987
Municipal bonds		920			1		(3	)		918
Total debt securities due after 1 year through 5 years		296,441			196		(2,321	)		294,316
Total available-for-sale debt securities		526,909			462		(2,328	)		525,043
Total equity and debt securities	$	541,910		$	462	$	(2,328	)	$	540,044


	December 31, 2025
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities
Long-term
Preferred stock of privately-held companies	$	15,001		$	—	$	—		$	15,001
Total equity securities		15,001			—		—			15,001
Available-for-sale debt securities
Short-term
U.S. government debt securities		159,875			748		(1	)		160,622
U.S. agency debt securities		86,786			133		(1	)		86,918
Corporate debt securities		37,333			157		(16	)		37,474
Yankee debt securities		500			—		(5	)		495
Municipal bonds		375			—		—			375
Money market accounts		18,398			—		—			18,398
Less: Cash equivalents		(18,398	)		—		—			(18,398	)
Total debt securities due within 1 year		284,869			1,038		(23	)		285,884
After 1 year through 5 years
U.S. government debt securities		284,857			2,821		(67	)		287,611
U.S. agency debt securities		70,567			123		(51	)		70,639
Corporate debt securities		9,922			85		—			10,007
Municipal bonds		1,015			1		(4	)		1,012
Total debt securities due after 1 year through 5 years		366,361			3,030		(122	)		369,269
Total available-for-sale debt securities		651,230			4,068		(145	)		655,153
Total equity and debt securities	$	666,231		$	4,068	$	(145	)	$	670,154

Overview and Basis of Presentation

6 Months Ended

Jun. 30, 2026

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Overview and Basis of Presentation

Note 1. Overview and Basis of Presentation

The accompanying condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States, or U.S. GAAP, and presented in U.S. dollars, or USD, the reporting currency of the Company. These financial statements include the assets, liabilities, revenues and expenses of all subsidiaries and entities in which the Company has a controlling financial interest or is deemed to be the primary beneficiary. In determining whether the Company is the primary beneficiary of an entity, the Company applies a qualitative approach that determines whether it has both (i) the power to direct the economically significant activities of the entity and (ii) the obligation to absorb losses of, or the right to receive benefits from, the entity that could potentially be significant to that entity. The Company uses the equity method to account for its investments in entities that it does not control, but in which it has the ability to exercise significant influence over operating and financial policies. All intercompany accounts and transactions are eliminated from the accompanying condensed consolidated financial statements.

Nature of the Business

Fulgent Genetics, Inc., together with its subsidiaries and affiliated professional corporations, or PCs (collectively referred to as the Company, unless otherwise noted or the context requires otherwise), is a technology-based company with a well-established laboratory services business and a therapeutic development business. Its laboratory services business includes technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians. Its therapeutic development business is focused on developing product candidates for treating a broad range of cancers using a novel nanoencapsulation and targeted therapy platform designed to improve the therapeutic window and pharmacokinetic profile of new and existing cancer drugs. The Company aims to transform from a genomic diagnostic business into a fully integrated precision medicine company.

Unaudited Interim Financial Information

The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the Company’s audited consolidated financial statements as of and for the fiscal year ended December 31, 2025, which are included in the Company’s annual report on Form 10-K filed with the Securities and Exchange Commission, or SEC, on February 27, 2026, or the 2025 Annual Report, and, in the opinion of management, include all adjustments, which are normal and recurring in nature, necessary for a fair presentation of the Company’s financial position and results of operations. Operating results for interim periods are not necessarily indicative of the results that may be expected for a full fiscal year or any other period. The accompanying Condensed Consolidated Balance Sheet as of December 31, 2025, has been derived from the Company’s audited consolidated financial statements at that date but does not include all of the disclosures required by U.S. GAAP. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the Company’s audited consolidated financial statements included in the 2025 Annual Report, including the notes thereto.

Reportable Segments and Geographic Information - Additional Information (Details)	6 Months Ended
	Jun. 30, 2026 Segment
Segment Reporting [Abstract]
Number of reporting segments	2
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]	srt:ChiefExecutiveOfficerMember
Segment reporting, CODM, profit (loss) measure, description	The financial information regularly provided to the CODM includes various performance metrics by reportable segment, such as gross profit, operating income or loss, income or loss before income taxes, net income or loss from consolidated operations, and net income or loss attributable to the Company, all presented in accordance with U.S. GAAP. Although multiple financial metrics are provided, the CODM primarily relies on adjusted (non-GAAP) operating income or loss to evaluate segment performance and allocate resources.
Number of operating segments	2

Debt, Commitments and Contingencies

6 Months Ended

Jun. 30, 2026

Debt Commitments And Contingencies Disclosure [Abstract]

Debt, Commitments and Contingencies

Note 8. Debt, Commitments, and Contingencies

Debt

Notes payable as of June 30, 2026, consisted of $2.0 million of notes payable related to an installment sale contract the Company entered into in February 2022 for a building. The notes payable related to the installment sale are due in February 2030, and the interest rate is 1.08%. The current portion and noncurrent portion are $0.5 million and $1.5 million, respectively, and the noncurrent portion is included in other long-term liabilities in the accompanying Condensed Consolidated Balance Sheets. The interest expense for the three and six months ended June 30, 2026, and 2025, was not significant.

Operating and Finance Leases

See Note 9. Leases, for further information.

Contingencies

From time to time, the Company may be subject to legal proceedings and claims arising in the ordinary course of business.

As previously disclosed in the Company’s periodic reports filed pursuant to the Securities Exchange Act of 1934, as amended, or the Exchange Act, the Company has received a Civil Investigative Demand, or CID, issued by the U.S. Department of Justice, or the DOJ, pursuant to the False Claims Act related to its investigation of allegations of medically unnecessary laboratory testing, improper billing for laboratory testing, and remuneration received or provided in violation of the Anti-Kickback Statute and the Stark Law. Among other things, this CID requests information and records relating to certain of the Company’s customers named in this CID. Certain of the Company’s executive officers and employees have also received CIDs relating to these matters.

Similar to other laboratories in the industry, the Company responded to an audit inquiry by the U.S. Health Resources and Services Administration, or HRSA, with respect to its reimbursement for COVID-19 tests furnished to patients believed to be uninsured. The Company recorded approximately $548.9 million of reimbursements from HRSA under the Uninsured Program during the years ended December 31, 2022, 2021, and 2020. There is uncertainty with respect to the methodology HRSA will use in its audit and whether and how HRSA will extrapolate audit results. The Company has provided HRSA’s auditors with requested information in connection with its audit in an effort to resolve any issues related to its audit, including any reimbursed amounts that may need to be returned to HRSA. As of the date of this quarterly report, the Company has not received any final audit results from HRSA for this audit. The Company has not received any further requests for information in connection with this audit from HRSA. The Company has also received a CID issued by the DOJ pursuant to the False Claims Act related to the DOJ’s investigation as to whether the Company submitted or caused to be submitted false claims to the Uninsured Program.

As is typical for companies seeking reimbursement from government payors, from time to time the Company is named as a defendant in claims pursuant to the qui tam provisions of the False Claims Act and comparable state laws. Often, these proceedings remain under seal such that the Company does not have access to the specific information included in them. Seals often remain in place for extended periods of time while the U.S. government, or applicable regulatory authority, decides whether to intervene on behalf of the qui tam plaintiff. As a result, the Company may not be aware of all qui tam claims that have been filed against the Company. In or around February 2026, the U.S. District Court for the Central District of California unsealed a qui tam complaint (and certain related proceedings) filed against Fulgent Genetics, Inc. and Fulgent Therapeutics LLC by a qui tam plaintiff (known as a relator) on behalf of the United States. This complaint alleged that the Company filed false claims for reimbursement for COVID-19 tests in violation of the False Claims Act. The complaint was subsequently dismissed without prejudice as to the relator and the U.S. government following the U.S. government’s filing of a motion to dismiss, meaning the relator and the U.S. government retained the right to refile and may refile under seal.

The Company is fully cooperating with the DOJ in connection with the CIDs that it, or its employees, have received. The Company cannot currently predict when these CIDs and HRSA audit matters will be resolved, the reasonable or likely outcome of these matters, or their potential impact, which may materially and adversely affect the Company’s business, prospects, and financial condition. Discussions and investigations remain ongoing. As such, the Company cannot reasonably estimate the loss or range of loss, if any, that may result from any material government investigations, audits, claims, and reviews in which it is currently involved, given the inherent difficulty in predicting regulatory actions, fines and penalties, if any, and the various remedies and levels of judicial review available to the Company in the event of an adverse finding. As a result, the Company has not recorded any liability related to these CIDs or audit matters.

From time to time, the Company, like other laboratories in its industry, is subject to claims and allegations relating to professional liability. The Company accrued $14.5 million in connection with the settlement of a professional liability matter, which was included in accrued legal liabilities and general and administrative expense in the 2025 Annual Report. The Company maintains professional liability insurance that has provided partial coverage for this matter, subject to customary retentions, exclusions, and limits. During the second quarter of 2026, the Company paid this settlement in full, and the related accrual is no longer reflected in accrued legal liabilities as of June 30, 2026.

Goodwill and Intangible Assets - Additional Information (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($)	Jun. 30, 2026 USD ($) Segment	Jun. 30, 2025 USD ($)	Mar. 17, 2026 USD ($)	Dec. 31, 2025 USD ($)	Jul. 09, 2025 USD ($)
Goodwill [Line Items]
Number of operating segments \| Segment			2
Number of reporting segments \| Segment			2
Amortization of intangible assets	$ 2,603	$ 1,990	$ 4,634	$ 3,980
Impairment of intangible assets			2,172	$ 0
ANP Technologies, Inc. \| In-Process Research & Development
Goodwill [Line Items]
Identifiable intangible assets						$ 3,900
Fair value of reporting unit	265,000		265,000
Fair value of reporting unit in excess of the carrying value	$ 68,500		$ 68,500
Percentage of fair value of reporting unit in excess of the carrying value	287.00%		287.00%
Weighted average cost of capital reporting unit percent	49.00%		49.00%
ANP Technologies, Inc. \| Customer Relationships
Goodwill [Line Items]
Identifiable intangible assets						$ 2,300	$ 2,300
Impairment of intangible assets	$ 2,200
Bako \| Customer Relationships
Goodwill [Line Items]
Identifiable intangible assets	22,000		$ 22,000		$ 22,000
Bako \| Trade Name
Goodwill [Line Items]
Identifiable intangible assets	700		700		$ 700
Therapeutic Development \| ANP Technologies, Inc.
Goodwill [Line Items]
Fair value of reporting unit	270,000		270,000
Fair value of reporting unit in excess of the carrying value	$ 54,600		$ 54,600
Percentage of fair value of reporting unit in excess of the carrying value	395.00%		395.00%
Weighted average cost of capital reporting unit percent	47.00%		47.00%
Therapeutic Development \| ANP Technologies, Inc. \| Income Approach
Goodwill [Line Items]
Fair value of reporting unit measurement input	100.00%		100.00%
Laboratory Services \| Bako
Goodwill [Line Items]
Fair value of reporting unit	$ 1,045,000		$ 1,045,000
Fair value of reporting unit in excess of the carrying value	$ 943,500		$ 943,500
Percentage of fair value of reporting unit in excess of the carrying value	11.00%		11.00%

Equity and Debt Securities - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025	Dec. 31, 2025
Investments, Debt and Equity Securities [Abstract]
Gross unrealized loss	$ 2,300,000		$ 2,300,000		$ 100,000
Proceeds from sale of available-for-sale securities	33,100,000	$ 0	33,100,000	$ 0
Realized gain available-for-sale securities	$ 100,000		$ 100,000

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Allowance for credit losses	$ 25,530	$ 21,411
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	50,000,000	50,000,000
Common stock, shares issued	35,057,000	34,501,000
Common stock, shares outstanding	27,515,000	31,081,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0

Other Significant Balance Sheet Accounts - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Operating lease liabilities, long term	$ 5,609	$ 3,781
Notes payable, long term	1,476	1,958
Other long-term liabilities	1,887	1,885
Total	$ 8,972	$ 7,624

Reportable Segments and Geographic Information - Schedule of Significant Items by Segment Excluded from Adjusted Operating (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment Reporting Information [Line Items]
Equity-based compensation	$ 8,624	$ 10,039	$ 18,514	$ 20,589
Material Reconciling Items
Segment Reporting Information [Line Items]
Equity-based compensation	8,624	10,039	18,514	20,589
Laboratory Services \| Material Reconciling Items
Segment Reporting Information [Line Items]
Equity-based compensation	6,501	8,034	14,142	16,566
Therapeutic Development \| Material Reconciling Items
Segment Reporting Information [Line Items]
Equity-based compensation	$ 2,123	$ 2,005	$ 4,372	$ 4,023

Condensed Consolidated Statements of Operations (unaudited) - USD ($) shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 85,389,000	$ 81,803,000	$ 156,527,000	$ 155,266,000
Cost of revenue	59,710,000	47,368,000	109,358,000	92,485,000
Gross profit	25,679,000	34,435,000	47,169,000	62,781,000
Operating expenses
Research and development	14,554,000	13,480,000	28,730,000	25,875,000
Selling and marketing	15,228,000	12,286,000	27,449,000	20,751,000
General and administrative	27,195,000	26,392,000	54,879,000	51,683,000
Amortization of intangible assets	2,603,000	1,990,000	4,634,000	3,980,000
Intangible impairment loss	2,172,000	0	2,172,000	0
Total operating expenses	61,752,000	54,148,000	117,864,000	102,289,000
Operating loss	(36,073,000)	(19,713,000)	(70,695,000)	(39,508,000)
Other income (expenses)
Interest income	6,404,000	8,091,000	15,055,000	16,109,000
Interest expense	(59,000)	(17,000)	(76,000)	(31,000)
Equity securities impairment loss	0	(9,926,000)	0	(9,926,000)
Other income, net	38,000	46,000	48,000	114,000
Total other income (expense), net	6,383,000	(1,806,000)	15,027,000	6,266,000
Loss before income taxes	(29,690,000)	(21,519,000)	(55,668,000)	(33,242,000)
Provision for (benefit from) income taxes	29,000	(2,263,000)	(675,000)	(2,087,000)
Net loss from consolidated operations	(29,719,000)	(19,256,000)	(54,993,000)	(31,155,000)
Net loss attributable to noncontrolling interest	189,000	299,000	637,000	668,000
Net loss attributable to Fulgent	$ (29,530,000)	$ (18,957,000)	$ (54,356,000)	$ (30,487,000)
Net loss per common share attributable to Fulgent
Basic	$ (1.05)	$ (0.62)	$ (1.85)	$ (0.99)
Diluted	$ (1.05)	$ (0.62)	$ (1.85)	$ (0.99)
Weighted-average common shares:
Basic	28,005	30,544	29,435	30,687
Diluted	28,005	30,544	29,435	30,687

Business Combinations

6 Months Ended

Jun. 30, 2026

Business Combination [Abstract]

Business Combinations

Note 15. Business Combinations

Bako Business Combination

On March 17, 2026, or the Bako acquisition date, Inform Diagnostics, Inc., a wholly owned subsidiary of the Company, completed an acquisition of substantially all of the assets and certain specified liabilities of Bako Diagnostics, a premier pathology laboratory, or Bako, and 100% of the issued and outstanding equity of StrataDx, a premier dermatopathology laboratory. Under the terms of the asset purchase agreement, as well as the purchase and sale agreement, both dated December 20, 2025, the total purchase price was approximately $55.7 million, net of cash received. These acquisitions, or collectively, the Bako Acquisition, enable the Company to further strengthen its laboratory services business by adding new products and services and further expand its national client base, national sales team, and team of expert pathologists.

The financial results of the Bako Acquisition are included in the condensed consolidated financial statements from the date of acquisition.

The Company accounted for the acquisitions as a business combination under Accounting Standards Codification Topic 805, Business Combinations, or “ASC 805.” Accordingly, the total consideration transferred has been allocated to the tangible assets and identified intangible assets acquired and liabilities assumed based on their estimated fair values as of the Bako acquisition date. The excess of the consideration transferred over the fair value of net identifiable assets acquired has been recognized as goodwill. The purchase price allocation is preliminary and remains subject to change, primarily with respect to deferred taxes. As additional information becomes available — including the filing and finalization of federal and state tax returns for periods prior to the Bako acquisition date, and the resolution of other post-closing matters — the Company may further update the preliminary purchase price allocation during the remainder of the measurement period (up to one year from the Bako acquisition date).

During the three months ended June 30, 2026, the Company finalized the post-closing purchase price adjustment for the Bako Acquisition pursuant to the terms of the purchase agreements, resulting in an excess payment of $0.1 million owed to the seller. This amount was recorded as a measurement period adjustment under ASC 805, increasing goodwill as of the Bako acquisition date. The adjustment had no impact on the Company’s consolidated statements of operations for the six months ended June 30, 2026.

The following tables summarize the updated purchase price allocation:


	As Initially Reported			Measurement Period Adjustment		As Revised
	(in thousands)
Considerations
Cash paid	$	56,111		$	—	$	56,111
Considerations not paid yet (in accrued liabilities)		141			146	$	287
Total considerations	$	56,252		$	146	$	56,398

Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$	544		$	—	$	544
Trade accounts receivable		2,090			—	$	2,090
Inventory		1,561			—	$	1,561
Prepaid expenses		2,353			—	$	2,353
Fixed assets		1,459			—	$	1,459
ROU assets - operating		2,839			—	$	2,839
Other long-term assets		25			—	$	25
Identifiable intangible assets		22,700			—	$	22,700
Accounts payable		(1,952	)		—	$	(1,952	)
Accrued liabilities		(2,741	)		16	$	(2,725	)
Operating lease liabilities		(2,839	)		—	$	(2,839	)
Deferred tax liabilities		(1,166	)		—	$	(1,166	)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		24,873			16		24,889
Goodwill		31,379			130	$	31,509
Total	$	56,252		$	146	$	56,398

The goodwill of $31.5 million arising from the acquisition is attributed to the expected synergies, assembled workforce, and other benefits that will potentially be generated from the business combination along with deferred tax. The goodwill recognized is not deductible for tax purposes.

The identified intangible assets acquired consisted of $22.0 million in customer relationships with an estimated amortization life of ten years and $0.7 million in trade name with an estimated amortization life of three years.

The fair value of the customer relationships was estimated using the Multiperiod Excess Earnings Method, or MPEEM, of the income approach. Under the MPEEM, an intangible asset’s fair value is equal to the present value of the incremental after-tax cash flows attributable only to the subject intangible asset after deducting contributory asset charges. The incremental after-tax cash flows attributable to the customer relationships are then discounted to their present value at a risk-adjusted rate of return. The fair value of the trade name was estimated using the relief from royalty, or RFR, method. The RFR method estimates the portion of the Company’s earnings attributable to an intangible asset based on the royalty rate the Company would have paid for the use of the asset if it did not own it. The useful lives of the intangible assets for amortization purposes were determined by considering the period of expected cash flows used to measure the fair values of the intangible assets adjusted as appropriate for entity-specific factors including legal, regulatory, contractual, competitive, economic and other factors that may limit the useful life. The customer relationships and trade name are amortized on a straight-line basis over their estimated useful lives.

The revenue and net loss of the acquiree since the Bako acquisition date are $19.5 million and $3.4 million, respectively, which are included in the accompanying Condensed Consolidated Statements of Operations.

The acquisition-related costs associated with the acquisition of Bako consisted primarily of legal, regulatory and financial advisory fees of approximately $0.3 million for the second quarter of 2026, $2.6 million for the first quarter of 2026, and $1.5 million incurred in the fourth quarter of 2025. These acquisition-related costs were expensed as incurred as general and administrative expenses.

ANP Technologies, Inc.

On July 9, 2025, or the ANP acquisition date, the Company completed an acquisition of 100% of the outstanding equity of ANP, an innovation-driven company, which has developed multiple proprietary product platforms. The acquisition was structured as a combination of cash and stock, net of cash received. This acquisition enables the Company to secure ownership of the patents previously licensed from ANP, which are currently utilized in ongoing clinical studies. By securing full ownership of these intellectual property rights, the Company aims to enhance its control over the development and commercialization of related therapeutic candidates, thereby aligning with its strategic objectives to advance clinical programs.

The financial results of ANP are included in the consolidated financial statements from the date of acquisition.

During the three months ended March 31, 2026, the Company finalized the federal and state income tax returns for ANP for periods prior to the ANP acquisition date. As a result of this finalization, the Company identified a measurement period adjustment resulting in a decrease to deferred tax liabilities of $2.7 million, with a corresponding decrease to goodwill of $2.7 million. This adjustment is reflected retrospectively as of the ANP acquisition date in accordance with ASC 805. The adjustment had no impact on the Company’s consolidated statements of operations for the six months ended June 30, 2026.

The following table summarizes the updated and finalized purchase price allocation:


	As Initially Reported			Measurement Period Adjustment			As Revised
	(in thousands)
Considerations
Cash paid	$	14,322			—		$	14,322
Cash held back		1,887			—			1,887
Settlement of pre-existing accounts payable		(290	)		—			(290	)
Contingent consideration		5,731			—			5,731
Total considerations	$	21,650		$	—		$	21,650

Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$	18,097			—		$	18,097
Trade accounts receivable		7			—			7
Other current assets		97			—			97
ROU assets - operating		612			—			612
Other long-term assets		15			—			15
Identifiable intangible assets		6,200			—			6,200
Accounts payable		(75	)		—			(75	)
Accrued liabilities		(591	)		—			(591	)
Operating lease liabilities		(612	)		—			(612	)
Income tax payable		(1,562	)		—			(1,562	)
Other long-term liabilities		(3,563	)		2,728			(835	)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		18,625			2,728			21,353
Goodwill		3,025			(2,728	)		297
Total	$	21,650		$	—		$	21,650

The acquisition includes a contingent consideration arrangement that requires the Company to issue up to 292,682 shares of the Company’s common stock to the sellers of ANP upon ANP’s achievement of certain minimum levels of cash receipts over the next two years. The contingent consideration is classified as equity, and the fair value of $5.7 million was calculated based on the stock price of the Company’s common stock on the ANP acquisition date. The fair value of the contingent consideration does not need to be remeasured, as the subsequent settlement will be accounted for as equity.

The merger agreement, as amended, called for the Company to hold back $1.9 million to serve as collateral for indemnification of the equity holders. $1.0 million of the holdback will be released to the sellers of ANP after the initial survival date (three years after closing), and the remaining amount is to be released four years after the closing date.

The goodwill of $0.3 million arising from the acquisition is attributed to the expected synergies, assembled workforce and other benefits that will potentially be generated from the business combination along with deferred tax. The goodwill recognized is not deductible for tax purposes.

The identified intangible assets acquired consisted of $3.9 million IPR&D which is an indefinite-lived asset and as such is not amortized, and $2.3 million customer relationships with an estimated amortization life of 18 years.

The fair value of the IPR&D was estimated using the cost to recreate method of the cost approach. The cost to recreate method estimates the expense to the Company if the intangible assets were to be recreated. The fair value of the customer relationships was estimated using the MPEEM under the income approach, see above for additional details. The useful lives of the intangible assets for amortization purposes were determined by considering the period of expected cash flows used to measure the fair values of the intangible assets adjusted as appropriate for entity-specific factors including legal, regulatory, contractual, competitive, economic and other factors that may limit the useful life. The customer relationships are amortized on a straight-line basis over the estimated useful lives.

During the three months ended June 30, 2026, the Company recorded a full impairment of the customer relationships intangible asset. See Note 17. Goodwill and Intangible Assets, for further details.

- Definition

The entire disclosure for business combination.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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Reference 7: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Leases - Schedule of Operating and Finance Lease Right-of-Use Asset, Short-term Lease Liabilities, and Long-term Lease Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Leases [Abstract]
Operating lease ROU asset, net	$ 7,198	$ 4,961
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Operating lease liabilities, short term	$ 1,855	$ 1,462
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Operating lease liabilities, long term	$ 5,609	$ 3,781
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities
Finance lease ROU asset, net	$ 169	$ 339
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other long-term assets	Other long-term assets
Finance lease liabilities, short term	$ 181	$ 360
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued liabilities	Accrued liabilities
Finance lease liabilities, long term	$ 0	$ 0
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other long-term liabilities	Other long-term liabilities

Reportable Segments and Geographic Information - Summary of Property, Plant and Equipment, Net by Geographic Distribution (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Segment Reporting Information [Line Items]
Fixed assets, net	$ 113,068	$ 112,549
Operating Segments
Segment Reporting Information [Line Items]
Fixed assets, net	113,068	112,549
United States \| Operating Segments
Segment Reporting Information [Line Items]
Fixed assets, net	106,991	106,250
China \| Operating Segments
Segment Reporting Information [Line Items]
Fixed assets, net	4,603	4,692
Other countries \| Operating Segments
Segment Reporting Information [Line Items]
Fixed assets, net	1,474	1,607
Foreign \| Operating Segments
Segment Reporting Information [Line Items]
Fixed assets, net	$ 6,077	$ 6,299

Reportable Segments and Geographic Information - Schedule of Total Assets by Segment (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 1,089,223	$ 1,213,525
Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	1,089,223	1,213,525
Laboratory Services \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	982,893	1,096,379
Therapeutic Development \| Operating Segments
Segment Reporting, Asset Reconciling Item [Line Items]
Assets	$ 106,330	$ 117,146

- Definition

Amount of asset recognized for present right to economic benefit.

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+ Details

Related Party

6 Months Ended

Jun. 30, 2026

Related Party

Note 14. Related Party

Prior to April 25, 2025, Ming Hsieh, the Chief Executive Officer and Chairperson of the board of directors, was on the board of directors and an approximately 20% owner of ANP, with which the Company entered into certain drug-related licensing and development service agreements.

The President and Chief Scientific Officer of Fulgent Pharma, Ray Yin, is the Founder, President, and Chief Technology Officer of ANP. Prior to April 25, 2025, the Company incurred $0.1 million and $0.6 million related to the licensing and development services and the purchase of equipment in the three and six months ended June 30, 2025, respectively The Company also entered into

an employee service agreement with ANP in April 2023, an insignificant amount was recognized in revenue in the three and six months ended June 30, 2025.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Goodwill and Intangible Assets (Tables)

6 Months Ended

Jun. 30, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Carrying Amounts of Goodwill

The changes in the carrying amounts of goodwill for the laboratory services segment and the therapeutic development segment in the six months ended June 30, 2026 were as follows:


	Laboratory Services		Therapeutic Development
	(in thousands)
Balance at December 31, 2025	$	—	$	25,080
Acquisition		31,379		—
Measurement period adjustment		130		(2,728	)
Balance at June 30, 2026	$	31,509	$	22,352

Summaries of Goodwill and Acquisitions-Related Intangibles Balances

Summaries of intangible assets balances as of June 30, 2026, and December 31, 2025, were as follows:


	Weighted-Average Amortization Period	June 30, 2026			December 31, 2025
		(in thousands)
Laboratory Services
Customer relationships	12 Years	$	105,170		$	83,135
Less: accumulated amortization			(29,439	)		(25,633	)
Customer relationships, net			75,731			57,502

Royalty-free technology	10 Years		5,453			5,291
Less: accumulated amortization			(2,818	)		(2,469	)
Royalty-free technology, net			2,635			2,822

Trade name	7 Years		4,490			3,790
Less: accumulated amortization			(2,201	)		(1,896	)
Trade name, net			2,289			1,894

Laboratory information system platform	5 Years		1,860			1,860
Less: accumulated amortization			(1,829	)		(1,643	)
Laboratory information system platform, net			31			217

In-place lease intangible assets	5 Years		360			360
Less: accumulated amortization			(290	)		(255	)
In-place lease intangible assets, net			70			105

Purchased patent	10 Years		29			29
Less: accumulated amortization			(16	)		(14	)
Purchased patent, net			13			15
Total			80,769			62,555

Therapeutic Development
Customer relationships	18 Years		2,300			2,300
Less: accumulated amortization			(128	)		(64	)
Less: accumulated impairment			(2,172	)		—
Customer relationships, net			—			2,236

In-process research & development	n/a		68,490			68,490
Total			68,490			70,726
Total intangible assets, net		$	149,259		$	133,281

Summary of Annual Amortization Expense For Acquisition-Related Intangibles


	Amounts
	(in thousands)
Year ending December 31,
2026 (remaining 6 months)	$	4,949
2027		9,667
2028		9,633
2029		9,200
2030		9,014
2031		8,602
Thereafter		29,704
Total	$	80,769

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 24
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482548/350-20-55-24

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (h)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
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-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef
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-Section 50
-Paragraph 1
-Subparagraph (e)
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-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
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-Paragraph 1
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1

Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-1A

Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-2

+ Details

Loss per Share

6 Months Ended

Jun. 30, 2026

Earnings Per Share [Abstract]

Loss per Share

Note 12. Loss per Share

The following is a reconciliation of the basic and diluted loss per share computations for the three and six months ended June 30, 2026, and 2025:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
	(in thousands)
Net loss attributable to Fulgent	$	(29,530	)	$	(18,957	)	$	(54,356	)	$	(30,487	)

Weighted-average common shares - outstanding, basic		28,005			30,544			29,435			30,687
Weighted-average common shares - outstanding, diluted		28,005			30,544			29,435			30,687

Loss per share:
Basic	$	(1.05	)	$	(0.62	)	$	(1.85	)	$	(0.99	)
Diluted	$	(1.05	)	$	(0.62	)	$	(1.85	)	$	(0.99	)

The following securities have been excluded from the calculation of diluted loss per share because their effect would have been anti-dilutive:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Stock options		75		101		75		101
Restricted stock units		2,458		2,187		2,458		2,187
Contingently issuable shares		293		—		293		—

The anti-dilutive shares described above were calculated using the treasury stock method. In the three and six months ended June 30, 2026, and 2025, the Company had outstanding stock options and restricted stock units that were excluded from the weighted-average share calculation for continuing operations due to the Company’s net loss positions.

In the three and six months ended June 30, 2026, the Company also had contingently issuable shares for contingent consideration to the acquisition of ANP that were excluded from the weighted-average share calculation for continuing operations due to the Company’s net loss positions. The milestones have not been satisfied as of June 30, 2026, thus, nothing was included in dilutive shares.

Income Taxes

6 Months Ended

Jun. 30, 2026

Income Tax Disclosure [Abstract]

Income Taxes

Note 11. Income Taxes

The effective tax rate used for interim periods is the estimated annual effective consolidated tax rate, based on the current estimate of full year results, except that taxes related to specific events, if any, are recorded in the interim period in which they occur. The annual effective tax rate is based upon several significant estimates and judgments, including the estimated annual pre-tax income of the Company in each tax jurisdiction in which it operates, and the development of tax planning strategies during the year. In addition, the Company’s tax expense can be impacted by changes in tax rates or laws and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions.

The Company recorded consolidated expense for (benefit from) income taxes of $0.03 million and ($0.7) million for the three and six months ended June 30, 2026, respectively, compared to ($2.3) million and ($2.1) million for the three and six months ended June 30, 2025, respectively. The Company’s effective tax rates were (0.1%) and 1% for the three and six months ended June 30, 2026, respectively, compared to 11% and 6% for the three and six months ended June 30, 2025, respectively. The change in the effective tax rate compared to prior periods was primarily driven by a one-time tax benefit resulting from an acquisition completed during the quarter, which allowed the Company to recognize a portion of the tax benefit from its net operating losses that had previously been reserved.

The Company is under examination by certain tax authorities for the 2021 to 2023 tax years. While the timing of the conclusion of the examination is uncertain, the Company believes that adequate amounts have been reserved for adjustments that may result. During 2026, the statutes of limitations will lapse on the Company’s 2022 federal tax year and certain 2021 and 2022 state tax years. The Company does not believe the federal or state statute lapses or any other event will significantly impact the balance of unrecognized tax benefits in the next 12 months.

As of June 30, 2026, the Company has not yet received the $106.1 million related to the carryback of Investment Tax Credits to the 2021 and 2022 tax years. In connection with the delayed refunds, the Company has accrued $3.2 million of estimated overpayment interest receivable from the Internal Revenue Service through the second quarter of 2026, which is recorded in interest income. The Company continues to monitor the status of its refund claim.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478822/944-740-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 231
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482663/740-10-55-231

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12C
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 270
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477891/740-270-50-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 6.I.5.Q1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-13

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/740/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-14

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-21

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-17

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

Retirement Plans

6 Months Ended

Jun. 30, 2026

Retirement Benefits [Abstract]

Retirement Plans

Note 13. Retirement Plans

The Company offers a 401(k) retirement savings plan, or the 401(k) Plan, for its employees, including its executive officers, who satisfy certain eligibility requirements. The Internal Revenue Code of 1986, as amended, allows eligible employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) Plan. The Company matches contributions to the 401(k) Plan based on the amount of salary deferral contributions the participant makes to the 401(k) Plan. The Company will match up to 4% of an employee’s compensation that the employee contributes to their 401(k) Plan account. Total Company matching contributions to the 401(k) Plan were $1.4 million and $2.8 million for the three and six months ended June 30, 2026, respectively, and $1.0 million and $2.2 million for the three and six months ended June 30, 2025, respectively.

Other Significant Balance Sheet Accounts - Schedule of Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Reagents and supplies	$ 10,873	$ 10,604
Prepaid expenses	4,976	5,100
Marketable securities interest receivable	4,129	5,714
Inventory	793
Other receivable	1,460	1,134
Total	$ 22,231	$ 22,552

Fixed Assets - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Property, Plant and Equipment [Abstract]
Depreciation expense on fixed assets	$ 5.0	$ 3.9	$ 8.9	$ 7.7

Fixed Assets

6 Months Ended

Jun. 30, 2026

Property, Plant and Equipment [Abstract]

Fixed Assets

Note 5. Fixed Assets

Major classes of fixed assets consisted of the following:


	Useful Lives	June 30, 2026			December 31, 2025
		(in thousands)
Medical lab equipment	5 months to 13 Years	$	64,343		$	60,691
Building improvements	6 months to 39 Years		35,620			33,198
Building	25 to 39 Years		21,689			21,689
Computer hardware	1 to 5 Years		9,836			8,640
Aircraft	7 Years		6,400			6,400
Computer software	1 to 10 Years		6,357			6,300
Leasehold improvements	Shorter of lease term or estimated useful life		4,503			4,473
Furniture and fixtures	1 to 11 Years		4,452			4,128
Land improvements	5 to 15 Years		938			938
Automobile	3 to 7 Years		613			628
General equipment	5 Years		258			226
Land			17,347			17,347
Assets not yet placed in service			5,007			5,836
Total			177,363			170,494
Less: Accumulated depreciation			(64,295	)		(57,945	)
Fixed assets, net		$	113,068		$	112,549

Depreciation expense on fixed assets totaled $5.0 million and $8.9 million for the three and six months ended June 30, 2026, respectively, and $3.9 million and $7.7 million for the three and six months ended June 30, 2025, respectively.

Other Significant Balance Sheet Accounts (Tables)

6 Months Ended

Jun. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Schedule of Other Current Assets

Other current assets consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Reagents and supplies		10,873		10,604
Prepaid expenses		4,976		5,100
Marketable securities interest receivable		4,129		5,714
Inventory		793		—
Other receivable		1,460		1,134
Total	$	22,231	$	22,552

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Payroll liabilities	$	9,937	$	4,383
Vacation accrual		6,359		5,236
Accrued bonus and commission		2,774		5,224
Operating lease liabilities - short term		1,855		1,462
Accrued legal liabilities		—		14,905
Other accrued liabilities		2,582		2,847
Total	$	23,507	$	34,057

Schedule of Other Long-Term Liabilities

Other long-term liabilities consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Operating lease liabilities, long term	$	5,609	$	3,781
Notes payable, long term		1,476		1,958
Other long-term liabilities		1,887		1,885
Total	$	8,972	$	7,624

Summary of Significant Accounting Policies - Roll-Forward for Allowance for Credit Losses (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Accounting Policies [Abstract]
Allowance for credit losses at beginning of year	$ 21,411
Current period provision	4,856	$ 4,666
Write-downs	(749)
Recoveries of amounts previously charged off	(12)
Allowance for credit losses as of June 30, 2026	$ 25,530

Business Combinations - Summary of Updated and Finalized Purchase Price Allocation (Details) - USD ($) $ in Thousands	Mar. 17, 2026	Jul. 09, 2025	Jun. 30, 2026	Dec. 31, 2025
Business Combination [Line Items]
Goodwill			$ 53,861	$ 25,080
Measurement Period Adjustment
Business Combination [Line Items]
Other long-term liabilities		$ 2,728
Recognized amounts of identifiable assets acquired and liabilities assumed, net		2,728
Goodwill		(2,728)
ANP Technologies, Inc.
Business Combination [Line Items]
Cash paid		14,322
Cash held back		1,887
Settlement of pre-existing accounts payable		(290)
Contingent consideration		5,731
Total considerations		21,650
Cash and cash equivalents		18,097
Trade accounts receivable		7
Other current assets		97
ROU assets - operating		612
Other long-term assets		15
Identifiable intangible assets		6,200
Accounts payable		(75)
Accrued liabilities		(591)
Operating lease liabilities		(612)
Income tax payable		(1,562)
Other long-term liabilities		(835)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		21,353
Goodwill		297
Total		21,650
ANP Technologies, Inc. \| As Initially Reported
Business Combination [Line Items]
Cash paid		14,322
Cash held back		1,887
Settlement of pre-existing accounts payable		(290)
Contingent consideration		5,731
Total considerations		21,650
Cash and cash equivalents		18,097
Trade accounts receivable		7
Other current assets		97
ROU assets - operating		612
Other long-term assets		15
Identifiable intangible assets		6,200
Accounts payable		(75)
Accrued liabilities		(591)
Operating lease liabilities		(612)
Income tax payable		(1,562)
Other long-term liabilities		(3,563)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		18,625
Goodwill		3,025
Total		$ 21,650
Bako
Business Combination [Line Items]
Cash paid	$ 56,111
Considerations not paid yet (in accrued liabilities)	287
Total considerations	56,398
Cash and cash equivalents	544
Trade accounts receivable	2,090
Inventory	1,561
Prepaid expenses	2,353
Fixed assets	1,459
ROU assets - operating	2,839
Other long-term assets	25
Identifiable intangible assets	22,700
Accounts payable	(1,952)
Accrued liabilities	(2,725)
Operating lease liabilities	(2,839)
Deferred tax liabilities	(1,166)
Recognized amounts of identifiable assets acquired and liabilities assumed, net	24,889
Goodwill	31,509
Total	56,398
Bako \| As Initially Reported
Business Combination [Line Items]
Cash paid	56,111
Considerations not paid yet (in accrued liabilities)	141
Total considerations	56,252
Cash and cash equivalents	544
Trade accounts receivable	2,090
Inventory	1,561
Prepaid expenses	2,353
Fixed assets	1,459
ROU assets - operating	2,839
Other long-term assets	25
Identifiable intangible assets	22,700
Accounts payable	(1,952)
Accrued liabilities	(2,741)
Operating lease liabilities	(2,839)
Deferred tax liabilities	(1,166)
Recognized amounts of identifiable assets acquired and liabilities assumed, net	24,873
Goodwill	31,379
Total	56,252
Bako \| Measurement Period Adjustment
Business Combination [Line Items]
Considerations not paid yet (in accrued liabilities)	146
Total considerations	146
Accrued liabilities	16
Recognized amounts of identifiable assets acquired and liabilities assumed, net	16
Goodwill	130
Total	$ 146

Reportable Segments and Geographic Information (Tables)

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Schedule of Information Regarding Operations and Assets for Operating Segments

Information regarding the Company’s operations and assets for its reportable segments as well as geographic information was as follows, all dollars are in thousands:


	Laboratory Services			Therapeutic Development			Total
Three Months Ended June 30, 2026
Revenue	$	85,359		$	30		$	85,389
Less:
Adjusted cost of revenue		58,617			8			58,625
Adjusted research and development		6,823			4,595			11,418
Adjusted selling and marketing		14,663			—			14,663
Adjusted general and administrative		22,698			391			23,089
Total adjusted operating loss	$	(17,442	)	$	(4,964	)	$	(22,406	)


	Laboratory Services			Therapeutic Development			Total
Six Months Ended June 30, 2026
Revenue	$	156,410		$	117		$	156,527
Less:
Adjusted cost of revenue		106,797			15			106,812
Adjusted research and development		13,284			8,773			22,057
Adjusted selling and marketing		26,239			—			26,239
Adjusted general and administrative		42,750			748			43,498
Total adjusted operating loss	$	(32,660	)	$	(9,419	)	$	(42,079	)


	Laboratory Services			Therapeutic Development			Total
Three Months Ended June 30, 2025
Revenue	$	81,803		$	—		$	81,803
Less:
Adjusted cost of revenue		45,631			—			45,631
Adjusted research and development		5,435			4,706			10,141
Adjusted selling and marketing		11,575			—			11,575
Adjusted general and administrative		21,970			170			22,140
Total adjusted operating loss	$	(2,808	)	$	(4,876	)	$	(7,684	)


	Laboratory Services			Therapeutic Development			Total
Six Months Ended June 30, 2025
Revenue	$	155,266		$	—		$	155,266
Less:
Adjusted cost of revenue		88,968			—			88,968
Adjusted research and development		10,366			8,696			19,062
Adjusted selling and marketing		19,150			—			19,150
Adjusted general and administrative		42,595			430			43,025
Total adjusted operating loss	$	(5,813	)	$	(9,126	)	$	(14,939	)


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Reconciliation of “adjusted operating loss” to “loss before income taxes”
Adjusted operating loss	$	(22,406	)	$	(7,684	)	$	(42,079	)	$	(14,939	)
Less (add):
Equity-based compensation		8,624			10,039			18,514			20,589
Acquisition-related costs		17			—			2,649			—
Acquisition-related severance		251			—			647			—
Amortization of intangible assets		2,603			1,990			4,634			3,980
Impairment of intangible assets		2,172			—			2,172			—
Interest income		(6,404	)		(8,091	)		(15,055	)		(16,109	)
Interest expense		59			17			76			31
Impairment of equity securities		—			9,926			—			9,926
Other income, net		(38	)		(46	)		(48	)		(114	)
Total loss before income taxes	$	(29,690	)	$	(21,519	)	$	(55,668	)	$	(33,242	)

Significant items by segment excluded from the adjusted operating (loss) income were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Equity-based compensation
Laboratory services	$	6,501	$	8,034	$	14,142	$	16,566
Therapeutic development		2,123		2,005		4,372		4,023
Total	$	8,624	$	10,039	$	18,514	$	20,589

Revenue by segment was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Laboratory services:
Precision diagnostics	$	41,453	$	47,428	$	81,691	$	91,525
Anatomic pathology		37,497		28,122		62,577		53,422
BioPharma services		6,409		6,253		12,142		10,319
Total laboratory services		85,359		81,803		156,410		155,266
Therapeutic development:
BioPharma services		30		—		117		—
Total therapeutic development		30		—		117		—
Total	$	85,389	$	81,803	$	156,527	$	155,266

Depreciation and amortization by segment were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Laboratory services	$	7,528	$	5,889	$	13,385	$	11,644
Therapeutic development		148		165		291		329
Total	$	7,676	$	6,054	$	13,676	$	11,973

Interest income and expense by segment were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Laboratory services
Interest income	$	6,404		$	8,091		$	15,055		$	16,109
Interest expense		(59	)		(17	)		(76	)		(31	)
Therapeutic development
Interest income		—			—			—			—
Interest expense		—			—			—			—
Total	$	6,345		$	8,074		$	14,979		$	16,078

Total assets by segment were as follows:


	June 30, 2026		December 31, 2025
Laboratory services	$	982,893	$	1,096,379
Therapeutic development		106,330		117,146
Total	$	1,089,223	$	1,213,525

Summary of Revenue by Geographic Distribution

Geographic distribution of revenue was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
United States	$	78,293	$	76,207	$	143,369	$	144,033
Foreign
China		3,081		2,407		5,640		5,018
Other countries		4,045		3,189		7,518		6,215
Total foreign		7,096		5,596		13,158		11,233
Total	$	85,389	$	81,803	$	156,527	$	155,266

Summary of Property, Plant and Equipment, Net by Geographic Distribution

Geographic distribution of property, plant and equipment, net was as follows:


	June 30, 2026		December 31, 2025
United States	$	106,991	$	106,250
Foreign
China		4,603		4,692
Other countries		1,474		1,607
Total foreign		6,077		6,299
Total	$	113,068	$	112,549

Condensed Consolidated Statements of Stockholders' Equity (unaudited) (Parenthetical) - ANP Technologies, Inc. $ in Millions	6 Months Ended
	Jun. 30, 2026 USD ($) shares
Common stock issued in the acquisition \| shares	292,682
Contingently issuable shares in a business combination \| $	$ 5.7

Stock Repurchase Program

6 Months Ended

Jun. 30, 2026

Stockholders' Equity Note [Abstract]

Stock Repurchase Program

Note 16. Stock Repurchase Program

In March 2022, the Company’s board of directors authorized a $250.0 million stock repurchase program. Under the stock repurchase program, the Company may repurchase shares from time to time in the open market or in privately negotiated transactions. The stock repurchase program has no expiration from the date of authorization.

During the three and six months ended June 30, 2026, the Company repurchased 1.5 million and 4.1 million shares of its common stock, respectively, at an aggregate cost of $23.8 million and $63.9 million, respectively, under the stock repurchase program. During the three and six months ended June 30, 2025, the Company repurchased 0.2 million and 0.6 million shares of its common stock, respectively, at an aggregate cost of $3.0 million and $10.9 million, respectively under the stock repurchase program. As of June 30, 2026, a total of approximately $75.8 million remained available for future repurchases of its common stock under the stock repurchase program.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 13
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (g)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Summary of Significant Accounting Policies - Additional Information (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2026 USD ($)	Jun. 30, 2025 USD ($) Customer	Jun. 30, 2026 USD ($) Customer Segment	Jun. 30, 2025 USD ($) Customer	Dec. 31, 2025 USD ($)
Summary Of Significant Accounting Policies [Line Items]
Number of reporting segments \| Segment			2
Contract with customer liability, revenue recognized	$ 200,000	$ 300,000	$ 900,000	$ 200,000
Contract assets	0		0		$ 0
Reclassification from other comprehensive income (loss)	0	0	0	0
Tax expense of foreign currency translation income (loss)	0	0	0	0
Tax effects related to unrealized holding gain on available-for-sale debt securities	0	0	0	0
Variable consideration	$ 0	$ 0	$ 0	$ 0
Segment Reporting, CODM, Individual Title and Position or Group Name [Extensible Enumeration]			srt:ChiefExecutiveOfficerMember
Change in Accounting Principle, Accounting Standards Update, Adopted [true false]	true		true
Change in Accounting Principle, Accounting Standards Update, Adoption Date	Mar. 31, 2026		Mar. 31, 2026
Change in Accounting Principle, Accounting Standards Update, Immaterial Effect [true false]	true		true
Accounting Standards Update [Extensible Enumeration]			Accounting Standards Update 2025-05 [Member]
Insurance Customer
Summary Of Significant Accounting Policies [Line Items]
Percentage of accounts receivable from contract	55.00%		55.00%		50.00%
Institutional Customer
Summary Of Significant Accounting Policies [Line Items]
Percentage of accounts receivable from contract	45.00%		45.00%		50.00%
Customer Concentration Risk \| Laboratory Services \| Revenue \| Customer One
Summary Of Significant Accounting Policies [Line Items]
Number of customers \| Customer		1	1	1
Revenues		$ 17,600,000	$ 16,100,000	$ 35,200,000
Concentration risk, percentage		22.00%	10.00%	23.00%
Customer Concentration Risk \| Laboratory Services \| Accounts Receivable \| Customer One
Summary Of Significant Accounting Policies [Line Items]
Concentration risk, percentage					13.00%
Minimum
Summary Of Significant Accounting Policies [Line Items]
Intangible asset, useful life	3 years		3 years
Maximum
Summary Of Significant Accounting Policies [Line Items]
Intangible asset, useful life	18 years		18 years

Condensed Consolidated Statements of Stockholders' Equity (unaudited) - USD ($)
shares in Thousands, $ in Thousands

Total

Stockholders' Equity

Additional Paid-In Capital

Accumulated Other Comprehensive Income (Loss)

Retained Earnings

Fulgent Stockholders' Equity

Noncontrolling Interest

Beginning Balance at Dec. 31, 2024

$ 1,129,159

$ 3

$ 543,126

$ (368)

$ 590,467

$ 1,133,228

$ (4,069)

Beginning Balance, Shares at Dec. 31, 2024

30,841

Equity-based compensation

10,550

Restricted stock awards, Shares

360

Common stock withholding for employee tax obligations

(1,887)

Common stock withholding for employee tax obligations, Shares

(111)

Repurchase of common stock

(7,886)

Repurchase of common stock, Shares

(469)

Other comprehensive income (loss), net

4,733

4,703

Net loss

(11,899)

(11,530)

(369)

Ending Balance at Mar. 31, 2025

1,122,770

$ 3

543,903

4,335

578,937

1,127,178

(4,408)

Ending Balance, Shares at Mar. 31, 2025

30,621

Beginning Balance at Dec. 31, 2024

1,129,159

$ 3

543,126

(368)

590,467

1,133,228

(4,069)

Beginning Balance, Shares at Dec. 31, 2024

30,841

Net loss

(31,155)

Ending Balance at Jun. 30, 2025

1,111,636

$ 3

550,599

5,998

559,980

1,116,580

(4,944)

Ending Balance, Shares at Jun. 30, 2025

30,608

Beginning Balance at Mar. 31, 2025

1,122,770

$ 3

543,903

4,335

578,937

1,127,178

(4,408)

Beginning Balance, Shares at Mar. 31, 2025

30,621

Equity-based compensation

10,039

Restricted stock awards, Shares

182

Common stock withholding for employee tax obligations

(345)

Common stock withholding for employee tax obligations, Shares

(18)

Repurchase of common stock

(2,998)

Repurchase of common stock, Shares

(177)

Other comprehensive income (loss), net

1,426

1,663

(237)

Net loss

(19,256)

(18,957)

(299)

Ending Balance at Jun. 30, 2025

1,111,636

$ 3

550,599

5,998

559,980

1,116,580

(4,944)

Ending Balance, Shares at Jun. 30, 2025

30,608

Beginning Balance at Dec. 31, 2025

1,106,715

$ 3

574,520

7,512

529,954

1,111,989

(5,274)

Beginning Balance, Shares at Dec. 31, 2025

^[1]

31,081

Equity-based compensation

9,890

Exercise of common stock options

Exercise of common stock options, Shares

^[1]

Restricted stock awards

$ 1

Restricted stock awards, Shares

^[1]

540

Common stock withholding for employee tax obligations

(4,200)

Common stock withholding for employee tax obligations, Shares

^[1]

(195)

Repurchase of common stock

(40,078)

Repurchase of common stock, Shares

^[1]

(2,599)

Other comprehensive income (loss), net

(2,909)

(2,976)

Net loss

(25,274)

(24,826)

(448)

Ending Balance at Mar. 31, 2026

1,044,154

$ 4

540,141

4,536

505,128

1,049,809

(5,655)

Ending Balance, Shares at Mar. 31, 2026

^[1]

28,851

Beginning Balance at Dec. 31, 2025

1,106,715

$ 3

574,520

7,512

529,954

1,111,989

(5,274)

Beginning Balance, Shares at Dec. 31, 2025

^[1]

31,081

Net loss

(54,993)

Ending Balance at Jun. 30, 2026

995,986

$ 4

524,097

1,920

475,598

1,001,619

(5,633)

Ending Balance, Shares at Jun. 30, 2026

^[1]

27,515

Beginning Balance at Mar. 31, 2026

1,044,154

$ 4

540,141

4,536

505,128

1,049,809

(5,655)

Beginning Balance, Shares at Mar. 31, 2026

^[1]

28,851

Equity-based compensation

8,624

Exercise of common stock options

Exercise of common stock options, Shares

^[1]

Restricted stock awards, Shares

^[1]

201

Common stock withholding for employee tax obligations

(334)

Common stock withholding for employee tax obligations, Shares

^[1]

(19)

Repurchase of common stock

(24,336)

Repurchase of common stock, Shares

^[1]

(1,523)

Other comprehensive income (loss), net

(2,405)

(2,616)

211

Net loss

(29,719)

(29,530)

(189)

Ending Balance at Jun. 30, 2026

$ 995,986

$ 4

$ 524,097

$ 1,920

$ 475,598

$ 1,001,619

$ (5,633)

Ending Balance, Shares at Jun. 30, 2026

^[1]

27,515

[1]

The Company agreed to issue up to 292,682 shares of the Company’s common stock in the acquisition of ANP Technologies, Inc., or ANP, upon achieving certain cash receipts. $5.7 million represented the fair value of the shares on the ANP acquisition date (as defined below). As of June 30, 2026, no common stock has been issued as the milestones have not been met. See details in Note 15. Business Combinations.

Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2026	Jul. 27, 2026
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2026
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q2
Trading Symbol	FLGT
Entity Registrant Name	FULGENT GENETICS, INC.
Entity Central Index Key	0001674930
Entity Current Reporting Status	Yes
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		27,515,293
Entity File Number	001-37894
Entity Tax Identification Number	81-2621304
Entity Address, Address Line One	4399 Santa Anita Avenue
Entity Address, City or Town	El Monte
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91731
City Area Code	626
Local Phone Number	350-0537
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Document Quarterly Report	true
Document Transition Report	false
Entity Incorporation, State or Country Code	DE

Income Taxes - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Tax Disclosure [Abstract]
Provision for (benefit from) income taxes	$ 29	$ (2,263)	$ (675)	$ (2,087)
Effective income tax rate	(0.10%)	11.00%	1.00%	6.00%
Investment of tax credits	$ 106,100		$ 106,100
Overpayment of interest receivable	$ 3,200

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
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-Section 50
-Paragraph 10
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482685/740-10-50-10

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.7-04(9))
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
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-Topic 235
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-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

+ Details

Leases - Additional Information (Details)	Jun. 30, 2026
Leases [Abstract]
Operating leases term of expiration	2034-03
Finance leases term of expiration	2026-12

Business Combinations - Additional Information (Details) - USD ($) $ in Thousands			3 Months Ended				6 Months Ended
	Mar. 17, 2026	Jul. 09, 2025	Jun. 30, 2026	Mar. 31, 2026	Dec. 31, 2025	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Business Combination [Line Items]
Goodwill			$ 53,861		$ 25,080		$ 53,861
Revenue			85,389			$ 81,803	156,527	$ 155,266
Operating loss			(36,073)			$ (19,713)	(70,695)	$ (39,508)
ANP Technologies, Inc.
Business Combination [Line Items]
Date of acquisition completed		Jul. 09, 2025
Total purchase price payable		$ 21,650
Percentage of acquisition of outstanding equity		100.00%
Decrease to deferred tax liabilities				$ 2,700
Decrease to goodwill				2,700
Contingent consideration		$ 5,731
Cash hold back		1,887
Cash hold back released		1,000
Goodwill		297
ANP Technologies, Inc. \| In-Process Research & Development
Business Combination [Line Items]
Identifiable indefinite-lived intangible assets		$ 3,900
Identifiable intangible assets					3,900
ANP Technologies, Inc. \| Customer Relationships
Business Combination [Line Items]
Estimated amortization life of identified intangible assets assumed		18 years
Identifiable intangible assets		$ 2,300			2,300
Bako
Business Combination [Line Items]
Date of acquisition completed	Mar. 17, 2026
Total purchase price payable	$ 56,398
Excess payment amount			100
Percentage of acquisition of outstanding equity	100.00%
Goodwill	$ 31,509
Revenue	19,500
Operating loss	(3,400)
Acquisition-related costs			300	$ 2,600	$ 1,500
Bako \| Purchase and Sale Agreement
Business Combination [Line Items]
Total purchase price payable	$ 55,700
Bako \| Customer Relationships
Business Combination [Line Items]
Estimated amortization life of identified intangible assets assumed	10 years
Identifiable intangible assets	$ 22,000		22,000				22,000
Bako \| Trade Name
Business Combination [Line Items]
Estimated amortization life of identified intangible assets assumed	3 years
Identifiable intangible assets	$ 700		$ 700				$ 700
Maximum \| ANP Technologies, Inc.
Business Combination [Line Items]
Contingent consideration, number of shares issued		292,682

Business Combinations (Tables)

6 Months Ended

Jun. 30, 2026

Bako

Business Combination [Line Items]

Summary of Consideration Paid and Amount of Assets Acquired and Liabilities Assumed

The following tables summarize the updated purchase price allocation:


	As Initially Reported			Measurement Period Adjustment		As Revised
	(in thousands)
Considerations
Cash paid	$	56,111		$	—	$	56,111
Considerations not paid yet (in accrued liabilities)		141			146	$	287
Total considerations	$	56,252		$	146	$	56,398

Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$	544		$	—	$	544
Trade accounts receivable		2,090			—	$	2,090
Inventory		1,561			—	$	1,561
Prepaid expenses		2,353			—	$	2,353
Fixed assets		1,459			—	$	1,459
ROU assets - operating		2,839			—	$	2,839
Other long-term assets		25			—	$	25
Identifiable intangible assets		22,700			—	$	22,700
Accounts payable		(1,952	)		—	$	(1,952	)
Accrued liabilities		(2,741	)		16	$	(2,725	)
Operating lease liabilities		(2,839	)		—	$	(2,839	)
Deferred tax liabilities		(1,166	)		—	$	(1,166	)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		24,873			16		24,889
Goodwill		31,379			130	$	31,509
Total	$	56,252		$	146	$	56,398

ANP Technologies, Inc.

Business Combination [Line Items]

Summary of Consideration Paid and Amount of Assets Acquired and Liabilities Assumed

The following table summarizes the updated and finalized purchase price allocation:


	As Initially Reported			Measurement Period Adjustment			As Revised
	(in thousands)
Considerations
Cash paid	$	14,322			—		$	14,322
Cash held back		1,887			—			1,887
Settlement of pre-existing accounts payable		(290	)		—			(290	)
Contingent consideration		5,731			—			5,731
Total considerations	$	21,650		$	—		$	21,650

Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents	$	18,097			—		$	18,097
Trade accounts receivable		7			—			7
Other current assets		97			—			97
ROU assets - operating		612			—			612
Other long-term assets		15			—			15
Identifiable intangible assets		6,200			—			6,200
Accounts payable		(75	)		—			(75	)
Accrued liabilities		(591	)		—			(591	)
Operating lease liabilities		(612	)		—			(612	)
Income tax payable		(1,562	)		—			(1,562	)
Other long-term liabilities		(3,563	)		2,728			(835	)
Recognized amounts of identifiable assets acquired and liabilities assumed, net		18,625			2,728			21,353
Goodwill		3,025			(2,728	)		297
Total	$	21,650		$	—		$	21,650

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 350
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482573/350-20-50-4

Reference 2: http://www.xbrl.org/2003/role/exampleRef
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Other Significant Balance Sheet Accounts

6 Months Ended

Jun. 30, 2026

Balance Sheet Related Disclosures [Abstract]

Other Significant Balance Sheet Accounts

Note 6. Other Significant Balance Sheet Accounts

Other current assets consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Reagents and supplies		10,873		10,604
Prepaid expenses		4,976		5,100
Marketable securities interest receivable		4,129		5,714
Inventory		793		—
Other receivable		1,460		1,134
Total	$	22,231	$	22,552

Accrued liabilities consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Payroll liabilities	$	9,937	$	4,383
Vacation accrual		6,359		5,236
Accrued bonus and commission		2,774		5,224
Operating lease liabilities - short term		1,855		1,462
Accrued legal liabilities		—		14,905
Other accrued liabilities		2,582		2,847
Total	$	23,507	$	34,057

As of June 30, 2026, other accrued liabilities also included short-term finance lease liabilities, health insurance liabilities, accrued property taxes, income tax payables, and third-party billing services.

Other long-term liabilities consisted of the following:


	June 30, 2026		December 31, 2025
	(in thousands)
Operating lease liabilities, long term	$	5,609	$	3,781
Notes payable, long term		1,476		1,958
Other long-term liabilities		1,887		1,885
Total	$	8,972	$	7,624

Equity and Debt Securities - Summary of Investment in Equity and Debt Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Less: Cash equivalents, Carrying Value	$ (5,108)	$ (18,398)
Less: Cash equivalents, Fair Value	(5,108)	(18,398)
Equity and debt securities, Amortized Cost Basis	541,910	666,231
Equity and debt securities, Unrealized Gains	462	4,068
Equity and debt securities, Unrealized Losses	(2,328)	(145)
Equity and debt securities, Aggregate Fair Value	540,044	670,154
Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	526,909	651,230
Debt securities, Unrealized Gains	462	4,068
Debt securities, Unrealized Losses	(2,328)	(145)
Debt securities, Aggregate Fair Value	525,043	655,153
Short-Term Marketable Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	230,468	284,869
Debt securities, Unrealized Gains	266	1,038
Debt securities, Unrealized Losses	(7)	(23)
Debt securities, Aggregate Fair Value	230,727	285,884
Short-Term Marketable Securities \| U.S. Government Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	156,278	159,875
Debt securities, Unrealized Gains	220	748
Debt securities, Unrealized Losses		(1)
Debt securities, Aggregate Fair Value	156,498	160,622
Short-Term Marketable Securities \| U.S. Agency Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	32,960	86,786
Debt securities, Unrealized Gains	11	133
Debt securities, Unrealized Losses	(4)	(1)
Debt securities, Aggregate Fair Value	32,967	86,918
Short-Term Marketable Securities \| Corporate Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	40,855	37,333
Debt securities, Unrealized Gains	35	157
Debt securities, Unrealized Losses	(3)	(16)
Debt securities, Aggregate Fair Value	40,887	37,474
Short-Term Marketable Securities \| Municipal Bonds
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	375	375
Debt securities, Aggregate Fair Value	375	375
Short-Term Marketable Securities \| Yankee Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis		500
Debt securities, Unrealized Losses		(5)
Debt securities, Aggregate Fair Value		495
Short-Term Marketable Securities \| Money Market Accounts
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	5,108	18,398
Debt securities, Aggregate Fair Value	5,108	18,398
Long Term Equity Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Marketable and non-marketable securities, Amortized Cost Basis	15,001	15,001
Marketable and non-marketable securities, Aggregate Fair Value	15,001	15,001
Long Term Equity Securities \| Preferred Stock Of Privately Held Company
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Marketable and non-marketable securities, Amortized Cost Basis	15,001	15,001
Marketable and non-marketable securities, Aggregate Fair Value	15,001	15,001
Debt Securities due After 1 Year through 5 Years
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	296,441	366,361
Debt securities, Unrealized Gains	196	3,030
Debt securities, Unrealized Losses	(2,321)	(122)
Debt securities, Aggregate Fair Value	294,316	369,269
Debt Securities due After 1 Year through 5 Years \| U.S. Government Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	246,904	284,857
Debt securities, Unrealized Gains	195	2,821
Debt securities, Unrealized Losses	(1,688)	(67)
Debt securities, Aggregate Fair Value	245,411	287,611
Debt Securities due After 1 Year through 5 Years \| U.S. Agency Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	48,617	70,567
Debt securities, Unrealized Gains		123
Debt securities, Unrealized Losses	(630)	(51)
Debt securities, Aggregate Fair Value	47,987	70,639
Debt Securities due After 1 Year through 5 Years \| Corporate Debt Securities
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis		9,922
Debt securities, Unrealized Gains		85
Debt securities, Aggregate Fair Value		10,007
Debt Securities due After 1 Year through 5 Years \| Municipal Bonds
Schedule Of Trading Securities And Other Trading Assets [Line Items]
Debt securities, Amortized Cost Basis	920	1,015
Debt securities, Unrealized Gains	1	1
Debt securities, Unrealized Losses	(3)	(4)
Debt securities, Aggregate Fair Value	$ 918	$ 1,012

Leases (Tables)

6 Months Ended

Jun. 30, 2026

Leases [Abstract]

Schedule of Operating and Finance Lease Right-of-Use Asset, Short-term Lease Liabilities, and Long-term Lease Liabilities

The operating and finance lease right-of-use asset, or ROU asset, short-term lease liabilities, and long-term lease liabilities as of June 30, 2026, and December 31, 2025, were as follows:


	June 30, 2026		December 31, 2025
	(in thousands)
Operating lease ROU asset, net	$	7,198	$	4,961
Operating lease liabilities, short term	$	1,855	$	1,462
Operating lease liabilities, long term	$	5,609	$	3,781
Finance lease ROU asset, net	$	169	$	339
Finance lease liabilities, short term	$	181	$	360
Finance lease liabilities, long term	$	—	$	—

Schedule of Operating and Finance Lease Expense

The following was operating and finance lease expense:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Operating lease cost	$	654	$	446	$	1,139	$	881
Finance lease cost:
Amortization of ROU assets		85		85		169		217
Interest on lease liabilities		2		5		5		11
Short-term lease cost		535		396		1,021		957
Total lease cost	$	1,276	$	932	$	2,334	$	2,066

Schedule of Supplemental Information Related to Leases

Supplemental information related to leases was the following:


	June 30, 2026
Weighted-average remaining lease term, operating leases	5.32 years
Weighted-average discount rate, operating leases		6.11	%
Weighted-average remaining lease term, finance lease	0.5 years
Weighted-average discount rate, finance lease		3.21	%

Schedule of Maturity Analysis of Operating and Finance Lease Liabilities using Undiscounted Cash Flows on an Annual Basis

The following is a maturity analysis of operating and finance lease liabilities using undiscounted cash flows on an annual basis with renewal periods included:


	Operating Leases			Finance Lease
	(in thousands)
Year ending December 31,
2026 (remaining 6 months)		1,190			183
2027		1,945			—
2028		1,235			—
2029		1,071			—
2030		1,079			—
2031		1,089			—
Thereafter		1,272			—
Total lease payments		8,881			183
Less imputed interest		(1,417	)		(2	)
Total	$	7,464		$	181

Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2026

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash in the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows:


	Six Months Ended June 30,
	2026		2025
	(in thousands)
Cash and cash equivalents	$	26,305	$	87,880
Restricted cash included in Other long-term assets		135		135
Total cash, cash equivalents, and restricted cash	$	26,440	$	88,015

Roll-Forward for Allowance for Credit Losses

A roll-forward of the activity in the Company’s allowance for credit losses for the six months ended June 30, 2026, dollars in thousands, is as follows:


Allowance for credit losses at beginning of year	$	21,411
Current period provision		4,856
Write-downs		(749	)
Recoveries of amounts previously charged off		12
Allowance for credit losses as of June 30, 2026	$	25,530

Accounting Standards Update 2014-09

Summary of Revenue from Contracts with Customers by Payor Type

The following table summarizes revenue from contracts with customers by payor type for the three and six months ended June 30, 2026, and 2025:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Revenue by payor
Institutional	$	39,126	$	45,619	$	77,690	$	86,943
Insurance		44,229		34,385		73,977		65,129
Patients		2,034		1,799		4,860		3,194
Total revenue	$	85,389	$	81,803	$	156,527	$	155,266

Summary of Significant Accounting Policies - Summary of Revenue from Contracts with Customers by Payor Type (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	$ 85,389	$ 81,803	$ 156,527	$ 155,266
Accounting Standards Update 2014-09
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	85,389	81,803	156,527	155,266
Accounting Standards Update 2014-09 \| Clinical Institutional Contracts
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	39,126	45,619	77,690	86,943
Accounting Standards Update 2014-09 \| Clinical Insurance Contracts
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	44,229	34,385	73,977	65,129
Accounting Standards Update 2014-09 \| Clinical Patients Contracts
Disaggregation Of Revenue [Line Items]
Revenue from contracts with customers by payor type	$ 2,034	$ 1,799	$ 4,860	$ 3,194

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-5

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 5: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 6: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 7: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 8: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 91
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479777/606-10-55-91

Equity-Based Compensation (Tables)

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Summary of Equity-Based Compensation

The Company has included equity-based compensation expense as part of cost of revenue and operating expenses in the accompanying Condensed Consolidated Statements of Operations as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Cost of revenue	$	1,085	$	1,737	$	2,546	$	3,517
Research and development		3,136		3,339		6,673		6,813
Selling and marketing		565		711		1,210		1,601
General and administrative		3,838		4,252		8,085		8,658
Total	$	8,624	$	10,039	$	18,514	$	20,589

Fixed Assets - Major Classes of Fixed Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 177,363	$ 170,494
Less: Accumulated depreciation	(64,295)	(57,945)
Fixed assets, net	113,068	112,549
Medical Lab Equipment
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 64,343	60,691
Medical Lab Equipment \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	5 months
Medical Lab Equipment \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	13 years
Building Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 35,620	33,198
Building Improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	6 months
Building Improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	39 years
Building
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 21,689	21,689
Building \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	25 years
Building \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	39 years
Computer Hardware
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 9,836	8,640
Computer Hardware \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	1 year
Computer Hardware \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	5 years
Aircraft
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 6,400	6,400
Useful life in years	7 years
Computer Software
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 6,357	6,300
Computer Software \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	1 year
Computer Software \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	10 years
Leasehold Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 4,503	4,473
Useful life in years	us-gaap:UsefulLifeShorterOfTermOfLeaseOrAssetUtilityMember
Furniture and Fixtures
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 4,452	4,128
Furniture and Fixtures \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	1 year
Furniture and Fixtures \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	11 years
Land Improvements
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 938	938
Land Improvements \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	5 years
Land Improvements \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	15 years
Automobile
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 613	628
Automobile \| Minimum
Property Plant And Equipment [Line Items]
Useful life in years	3 years
Automobile \| Maximum
Property Plant And Equipment [Line Items]
Useful life in years	7 years
General Equipment
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 258	226
Useful life in years	5 years
Land
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 17,347	17,347
Assets Not Yet Placed in Service
Property Plant And Equipment [Line Items]
Fixed assets, gross	$ 5,007	$ 5,836

Reportable Segments and Geographic Information - Schedule of Depreciation and Amortization By Segment (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Depreciation and amortization			$ 13,676	$ 11,973
Operating Segments
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Depreciation and amortization	$ 7,676	$ 6,054	13,676	11,973
Laboratory Services \| Operating Segments
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Depreciation and amortization	7,528	5,889	13,385	11,644
Therapeutic Development \| Operating Segments
Segment, Reconciliation of Other Items from Segments to Consolidated [Line Items]
Depreciation and amortization	$ 148	$ 165	$ 291	$ 329

- Definition

The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.

+ References + Details

Fair Value Measurements - Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy (Details) - Fair Value Measurements Recurring - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities, debt securities and cash equivalents	$ 545,152	$ 688,552
U.S. Government Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	401,909	448,233
U.S. Agency Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	80,954	157,557
Money Market Accounts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	5,108	18,398
Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	40,887	47,481
Preferred Stock Of Privately Held Company
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	15,001	15,001
Municipal Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	1,293	1,387
Yankee Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities		495
Level 1
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities, debt securities and cash equivalents	5,108	18,398
Level 1 \| Money Market Accounts
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Cash and cash equivalents fair value disclosure	5,108	18,398
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities, debt securities and cash equivalents	525,043	655,153
Level 2 \| U.S. Government Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	401,909	448,233
Level 2 \| U.S. Agency Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	80,954	157,557
Level 2 \| Corporate Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	40,887	47,481
Level 2 \| Municipal Bonds
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	1,293	1,387
Level 2 \| Yankee Debt Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities		495
Level 3
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total equity securities, debt securities and cash equivalents	15,001	15,001
Level 3 \| Preferred Stock Of Privately Held Company
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Total debt securities	$ 15,001	$ 15,001

Equity and Debt Securities

6 Months Ended

Jun. 30, 2026

Investments, Debt and Equity Securities [Abstract]

Equity and Debt Securities

Note 3. Equity and Debt Securities

The Company’s equity and debt securities consisted of the following:


	June 30, 2026
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities
Long-term
Preferred stock of privately-held companies	$	15,001		$	—	$	—		$	15,001
Total equity securities		15,001			—		—			15,001
Available-for-sale debt securities
Short-term
U.S. government debt securities		156,278			220		—			156,498
Corporate debt securities		40,855			35		(3	)		40,887
U.S. agency debt securities		32,960			11		(4	)		32,967
Municipal bonds		375			—		—			375
Money market accounts		5,108			—		—			5,108
Less: Cash equivalents		(5,108	)		—		—			(5,108	)
Total debt securities due within 1 year		230,468			266		(7	)		230,727
After 1 year through 5 years
U.S. government debt securities		246,904			195		(1,688	)		245,411
U.S. agency debt securities		48,617			—		(630	)		47,987
Municipal bonds		920			1		(3	)		918
Total debt securities due after 1 year through 5 years		296,441			196		(2,321	)		294,316
Total available-for-sale debt securities		526,909			462		(2,328	)		525,043
Total equity and debt securities	$	541,910		$	462	$	(2,328	)	$	540,044


	December 31, 2025
	Amortized Cost Basis			Unrealized Gains		Unrealized Losses			Aggregate Fair Value
	(in thousands)
Equity securities
Long-term
Preferred stock of privately-held companies	$	15,001		$	—	$	—		$	15,001
Total equity securities		15,001			—		—			15,001
Available-for-sale debt securities
Short-term
U.S. government debt securities		159,875			748		(1	)		160,622
U.S. agency debt securities		86,786			133		(1	)		86,918
Corporate debt securities		37,333			157		(16	)		37,474
Yankee debt securities		500			—		(5	)		495
Municipal bonds		375			—		—			375
Money market accounts		18,398			—		—			18,398
Less: Cash equivalents		(18,398	)		—		—			(18,398	)
Total debt securities due within 1 year		284,869			1,038		(23	)		285,884
After 1 year through 5 years
U.S. government debt securities		284,857			2,821		(67	)		287,611
U.S. agency debt securities		70,567			123		(51	)		70,639
Corporate debt securities		9,922			85		—			10,007
Municipal bonds		1,015			1		(4	)		1,012
Total debt securities due after 1 year through 5 years		366,361			3,030		(122	)		369,269
Total available-for-sale debt securities		651,230			4,068		(145	)		655,153
Total equity and debt securities	$	666,231		$	4,068	$	(145	)	$	670,154

Gross unrealized losses on the Company’s equity and debt securities were $2.3 million and $0.1 million as of June 30, 2026, and December 31, 2025, respectively. Proceeds from sale of available-for-sale securities were $33.1 million for each of the three and six months ended June 30, 2026. The gross realized gain was $0.1 million for each of the three and six months ended June 30, 2026. There was no sale of available-for-sale securities or realized gain or loss for each of the three and six months ended June 30, 2025. The cost of any marketable securities sold is based on the specific-identification method.

The Company did not recognize any credit losses for its marketable available-for-sale debt securities during the three and six months ended June 30, 2026, and 2025.

Related Party - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2025	Jun. 30, 2025	Apr. 25, 2025
ANP Technologies, Inc. \| Ming Hsieh
Related Party Transaction [Line Items]
Ownership percentage			20.00%
ANP Technologies Inc
Related Party Transaction [Line Items]
Purchased from related party	$ 0.1	$ 0.6

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-3

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(2))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(k)(1))
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481990/310-10-45-13

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(i))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c)(2)(ii))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

+ Details

Equity-Based Compensation

6 Months Ended

Jun. 30, 2026

Share-Based Payment Arrangement [Abstract]

Equity-Based Compensation

Note 10. Equity-Based Compensation

On May 14, 2026, at the Company's 2026 Annual Meeting of Stockholders, the Company's stockholders approved the Fulgent Genetics, Inc. 2026 Equity Incentive Plan (the "2026 Plan"), which replaced the Company's Amended and Restated 2016 Omnibus Incentive Plan (the "Prior Plan"), and awards made under the 2026 Plan will be made consistent with the terms of the 2026 plan. No additional awards were granted under the Prior Plan on or after May 14, 2026 (the "Effective Date"). Awards outstanding under the Prior Plan as of the Effective Date remain outstanding and continue to be governed by their existing terms.

The 2026 Plan authorizes the issuance of 2,000,000 new shares of the Company's common stock, plus up to an additional 1,500,000 shares of common stock to the extent awards outstanding under the Prior Plan are forfeited, expire, or are cancelled without delivery of shares on or after the Effective Date. Shares of common stock withheld or repurchased by the Company to satisfy an award's exercise price or tax withholding obligations are not added back to the shares of common stock available for future issuance. The 2026 Plan permits the grant of incentive stock options, non-qualified stock options, stock grants, and other stock-based awards (including RSUs and stock appreciation rights) to employees, directors, and consultants, and will terminate on March 31, 2036 unless terminated earlier.

The Company has included equity-based compensation expense as part of cost of revenue and operating expenses in the accompanying Condensed Consolidated Statements of Operations as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Cost of revenue	$	1,085	$	1,737	$	2,546	$	3,517
Research and development		3,136		3,339		6,673		6,813
Selling and marketing		565		711		1,210		1,601
General and administrative		3,838		4,252		8,085		8,658
Total	$	8,624	$	10,039	$	18,514	$	20,589

Summary of Significant Accounting Policies

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Summary of Significant Accounting Policies

Note 2. Summary of Significant Accounting Policies

See Note 2. Summary of Significant Accounting Policies, to the Company’s Consolidated Financial Statements included in the 2025 Annual Report.

Use of Estimates

The preparation of condensed 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 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. The Company’s estimates and assumptions may evolve as conditions change. Actual results could differ significantly from these estimates.

On an ongoing basis, management evaluates its estimates, primarily those related to: (i) revenue recognition criteria, (ii) accounts receivable and allowances for credit losses, (iii) the useful lives of fixed assets and intangible assets, (iv) estimates of tax liabilities, (v) valuation of goodwill and indefinite-lived intangible assets at the time of acquisition and on a recurring basis, and (vi) valuation of investments.

Cash, Cash Equivalents, and Restricted Cash Shown in the Condensed Consolidated Statements of Cash Flows


	Six Months Ended June 30,
	2026		2025
	(in thousands)
Cash and cash equivalents	$	26,305	$	87,880
Restricted cash included in Other long-term assets		135		135
Total cash, cash equivalents, and restricted cash	$	26,440	$	88,015

Trade Accounts Receivable and Allowance for Credit Losses

Trade accounts receivable are stated at the amount the Company expects to collect. The Company maintains an allowance for credit losses for expected uncollectible trade accounts receivable, which is recorded as an offset to trade accounts receivable, and changes in allowance for credit losses are classified as a general and administrative expense in the accompanying Condensed Consolidated Statements of Operations. The Company assesses collectability by reviewing trade accounts receivable on a collective basis where similar risk characteristics exist and on an individual basis when it identifies specific customers that have deterioration in credit quality such that they may no longer share similar risk characteristics with the other receivables. In determining the amount of the allowance for credit losses, the Company uses a loss rate model or probability-of-default and loss-given default model. Following the loss rate method, expected credit losses are determined based on an estimated historical loss rate. The probability of default method allows the ability to define a point of default and measure credit losses for receivables that have reached the point of default for purposes of calculating the allowance for credit losses. Loss-given default represents the likelihood that a receivable that has reached the point of default will not be collected in full. The Company updates its loss rate and factors quarterly to incorporate the most recent historical data and adjusts the quantitative portion of the reserve through its qualitative reserve overlay. The Company looks at qualitative factors such as current internal and external conditions as of the balance sheet date in determining expected credit losses.

A roll-forward of the activity in the Company’s allowance for credit losses for the six months ended June 30, 2026, dollars in thousands, is as follows:


Allowance for credit losses at beginning of year	$	21,411
Current period provision		4,856
Write-downs		(749	)
Recoveries of amounts previously charged off		12
Allowance for credit losses as of June 30, 2026	$	25,530

Business Combinations

The Company uses the acquisition method of accounting and allocates the fair value of purchase consideration to the assets acquired and liabilities assumed from an acquiree based on their respective fair values as of the acquisition date. The excess of the fair value of purchase consideration over the fair value of these assets acquired and liabilities assumed is recorded as goodwill. When determining the fair values of assets acquired and liabilities assumed, management makes significant estimates and assumptions, especially with respect to intangible assets. Critical estimates in valuing intangible assets include, but are not limited to, expected future cash flows, which includes consideration of future growth and margins, future changes in technology, expected cost and time to develop in-process research and development, brand awareness and discount rates. Fair value estimates are based on the assumptions that management believes a market participant would use in pricing the asset or liability.

Finite-Lived Intangible Assets

Intangible assets, unless determined to be indefinite-lived, are amortized over their estimated useful lives. The Company amortizes intangible assets with definite lives on a straight-line basis generally over periods ranging from 3 to 18 years. See Note 17. Goodwill and Intangible Assets, for details of intangible assets.

Impairment of Long-Lived Assets

The Company evaluates the carrying amount of its long-lived assets whenever events or changes in circumstances indicate that the assets may not be recoverable. An impairment loss would be recognized when estimated future cash flows expected to result from the use of an asset and its eventual disposition are less than the carrying amount of the asset.

Goodwill and Indefinite-Lived Intangibles

In-process research & development, or IPR&D, costs are considered to be indefinite-lived until the completion or abandonment of the associated research and development efforts. If and when development is complete, the associated assets would be deemed finite-lived and would then be amortized based on their respective estimated useful lives at that point in time.

The Company assesses goodwill and indefinite-lived intangibles for impairment on an annual basis and between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company may choose to bypass a qualitative assessment of impairment for any reporting unit and proceed directly to performing a quantitative assessment. An impairment loss would be recognized for the amount by which the reporting unit’s carrying amount exceeds its fair value.

If a quantitative assessment is deemed necessary, the quantitative assessment includes estimating the fair value of each reporting unit and comparing it to its carrying value. The Company estimates the fair value of reporting units using both income-based and market-based valuation methods and typically engages a third-party appraisal firm to assist with the valuation. If the estimated fair value of a reporting unit exceeds its carrying value, the goodwill is not impaired, and no further review is required.

The income-based fair value methodology is based on a reporting unit’s forecasted future cash flows that are discounted to the present value using the reporting unit’s weighted-average cost of capital. The income-based approach incorporates management’s assumptions and judgments regarding economic conditions in the markets in which a company operates and conditions in the capital markets, many of which are outside of management’s control. The market-based fair value methodology includes (i) the guideline public company valuation method, which analyzes the valuation multiples of comparable public companies, and (ii) the merger and acquisition method, which compares the market values of similar businesses, to estimate the value of the reporting units. Under the market-based approach, judgment is required in evaluating market multiples and recent transactions.

Fair Value of Financial Instruments

The Company’s financial instruments consist principally of cash and cash equivalents, marketable securities, trade accounts receivable, restricted cash, a preferred stock investment, accounts payable, and accrued liabilities. The carrying amounts of certain of these financial instruments, including cash and cash equivalents, accounts receivable, accounts payable, and accrued liabilities approximate fair value due to their short maturities. The fair value of marketable securities and the preferred stock investment is disclosed in Note 4. Fair Value Measurements, to the accompanying condensed consolidated financial statements.

Concentrations of Credit Risk, Customers, and Suppliers

Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash and cash equivalents, trade accounts receivable, and marketable securities. As of June 30, 2026, substantially all of the Company’s cash and cash equivalents were deposited in accounts at financial institutions, and amounts may exceed federally insured limits. Management believes that the Company is not exposed to significant credit risk due to the financial strength of the depository institutions in which its cash and cash equivalents are held.

In certain periods, a small number of customers or a single laboratory customer have accounted for a significant portion of the Company’s revenue. For the laboratory services segment, when customers who, to our knowledge, are under common control or otherwise affiliated with each other are aggregated, no single customer held a significant concentration of the Company's revenue in the three months ended June 30, 2026. One of the Company's laboratory customers comprised $16.1 million, or 10%, of the Company’s revenue in the six months ended June 30, 2026. The same laboratory customer comprised $17.6 million, or 22%, of total revenue in the three months ended June 30, 2025, and $35.2 million, or 23%, of total revenue in the six months ended June 30, 2025. The same laboratory customer was not a significant concentration of total accounts receivable, net, as of June 30, 2026, but comprised 13% of total accounts receivable, net, as of December 31, 2025. For this laboratory customer, and for our customers generally, tests are typically purchased on a test-by-test basis and not pursuant to any long-term purchasing arrangements. In the therapeutic development segment, revenue is an immaterial portion of the Company’s total revenue as it does not yet have any commercialized or approved product candidates.

The Company relies on a limited number of suppliers for certain laboratory substances used in the chemical reactions incorporated into its processes, referred to as reagents, as well as for the sequencers and various other equipment and materials it uses in its laboratory operations. In particular, the Company relies on a sole supplier for the next generation sequencers and associated reagents it uses to perform its genetic tests and as the sole provider of maintenance and repair services for these sequencers. The Company’s laboratory operations would be interrupted if it encountered delays or difficulties securing these reagents, sequencers, other equipment or materials or maintenance and repair services, which could occur for a variety of reasons, including if the Company needs a replacement or temporary substitute for any of its limited or sole suppliers and is not able to locate and make arrangements for an acceptable replacement or temporary substitute. The Company’s development efforts could also be delayed or interrupted if it is unable to procure items needed for its therapeutic development activities. The Company believes there is currently a limited number of manufacturers that are capable of supplying and servicing some of the equipment and other materials necessary for its laboratory operations, including sequencers and various associated reagents.

Reportable Segments and Geographic Information

Reportable segments are identified as components of an enterprise for which separate discrete financial information is available for evaluation by the Chief Operating Decision-Maker, or CODM, in making decisions regarding resource allocation and assessing performance. The Company’s CODM is its Chief Executive Officer. The Company has two reportable segments: a laboratory services business and a therapeutic development business. For further financial information about these segments, including information for each of the periods presented regarding revenue, operating income (loss), and other important information, see Note 7. Reportable Segments and Geographic Information.

Foreign Currency Translation and Foreign Currency Transactions

The Company translates the assets and liabilities of its non-USD functional currency subsidiaries into USD using exchange rates in effect at the end of each period. Expenses for these subsidiaries are translated using rates that approximate those in effect during the period. These unrealized gains and losses are recognized in accumulated other comprehensive income in the equity section of the accompanying Condensed Consolidated Balance Sheets, and do not impact net income.

The Company and its subsidiaries that use the USD as their functional currency remeasure monetary assets and liabilities at exchange rates in effect at the end of each period. The carrying value of these monetary assets and liabilities will change with exchange rate fluctuations resulting in a foreign currency transaction gain or loss which is recognized in other income, net in the Condensed Consolidated Statements of Operations. Reagents and supplies, property, and other nonmonetary assets and liabilities are remeasured when the transaction is initially recognized using the historical rate that was in effect when the asset was acquired or liability was incurred. The carrying amounts do not change as a result of exchange rate fluctuations and no foreign currency transaction gain or loss is recognized. Gains and losses from foreign currency exchange were not significant for the three and six months ended June 30, 2026, and 2025.

Income Taxes

The effective tax rate used for interim periods is the estimated annual effective consolidated tax rate, based on the current estimate of full year results, except that taxes related to specific events, if any, are recorded in the interim period in which they occur. The annual effective tax rate is based upon several significant estimates and judgments, including the estimated annual pre-tax income (loss) of the Company in each tax jurisdiction in which it operates, and the development of tax planning strategies during the year. In addition, the Company’s tax expense can be impacted by changes in tax rates or laws and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions.

Comprehensive (Loss) Income

Comprehensive (loss) income is comprised of net (loss) income and other comprehensive (loss) income. Other comprehensive (loss) income consists of net unrealized gain or loss on available-for-sale debt securities, net of tax, and foreign currency translation adjustments from the Company’s subsidiaries not using the USD as their functional currency. The tax expense of foreign currency translation income (loss) was zero for each of the three and six months ended June 30, 2026, and 2025.

Reclassifications from other comprehensive (loss) income to net loss, were zero in each of the three and six months ended June 30, 2026, and 2025. The tax effects related to net unrealized gain or loss on available-for-sale debt securities was zero in each of the three and six months ended June 30, 2026, and 2025, due to the valuation allowance in the current period that precludes the Company from recognizing the deferred tax benefit.

Disaggregation of Revenue

The Company classifies its customers into three payor types: (i) Institutional, including hospitals, medical institutions, other laboratories, governmental bodies, and large corporations, (ii) Insurance, or (iii) Patients who pay directly, as the Company believes this best depicts how the nature, amount, timing, and uncertainty of its revenue and cash flows are affected by economic factors. The following table summarizes revenue from contracts with customers by payor type for the three and six months ended June 30, 2026, and 2025:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Revenue by payor
Institutional	$	39,126	$	45,619	$	77,690	$	86,943
Insurance		44,229		34,385		73,977		65,129
Patients		2,034		1,799		4,860		3,194
Total revenue	$	85,389	$	81,803	$	156,527	$	155,266

The Company estimates variable consideration using the expected value method. Any changes in variable consideration estimates that affect transactions are accounted for on a cumulative catch-up basis. Variable consideration adjustments in the three and six months ended June 30, 2026, and 2025 were not significant.

Contract Balances

Receivables from contracts with customers

Receivables from contracts with customers are included within trade accounts receivable on the Condensed Consolidated Balance Sheets. Receivables from Insurance and Institutional customers represented 45% and 55%, respectively, as of June 30, 2026, and each represented 50%, as of December 31, 2025.

Contract assets and liabilities

Contract liabilities are recorded when the Company receives payment prior to completing its obligation to transfer goods or services to a customer. Contract liabilities are included in the Condensed Consolidated Balance Sheets. Revenues of $0.2 million and $0.9 million were recognized for the three and six months ended June 30, 2026, respectively, and $0.3 million and $0.2 million were recognized for the three and six months ended June 30, 2025, respectively, related to contract liabilities at the beginning of the respective periods. As of June 30, 2026, and December 31, 2025, the Company has no contract assets from contracts with customers associated with contract execution and certain costs to fulfill a contract.

Prior Period Reclassifications

Certain amounts reported in the prior period have been reclassified to conform with the current period presentation. In the Condensed Consolidated Statement of Cash Flows, the Company has presented income taxes paid, net of refunds received, due to the prior adoption of ASU 2023-09, Income Taxes (Topic 740): Improvement to Income Tax Disclosures.

Recent Accounting Pronouncements

The Company evaluates all Accounting Standards Updates, or ASUs, issued by the Financial Accounting Standards Board, or FASB, for consideration of their applicability. ASUs not included in the Company’s disclosures were assessed and determined to be either not applicable or are not expected to have a material impact on the Company’s condensed consolidated financial statements.

Adopted

In July 2025, the FASB issued ASU 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This update provides all entities with a practical expedient related to the estimation of expected credit losses for current accounts receivable and current contract assets that arise from transactions accounted for under ASC 606. Amendments in this update are effective for annual periods beginning after December 15, 2025, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company adopted this ASU in the first quarter of 2026, and the impact is not material for the consolidated financial statements and related disclosures.

Issued

In November 2024, the FASB issued ASU 2024-03, Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This update requires disclosure in the notes to financial statements of specified information about certain costs and expenses. Amendments in this update are effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on its consolidated financial statements and related disclosure.

In September 2025, the FASB issued ASU 2025-06, Intangible—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This update simplifies the capitalization guidance by removing all references to software development project stages, so that the guidance is neutral to different software development methods. Amendments in this update are effective for annual periods beginning after December 15, 2027, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on its financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements. This update clarifies the applicability of interim reporting guidance, provides a comprehensive list of required interim disclosures, and establishes a disclosure principle that requires disclosure of material events that occurred after the end of the last annual reporting period. Amendments in this update are effective for interim reporting periods within annual periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on its financial statements and related disclosures.

In December 2025, the FASB issued ASU 2025-12, Codification Improvements. This update makes targeted amendments to various topics within the Accounting Standards Codification intended to clarify, correct errors, or make minor improvements to existing guidance. Amendments in this update are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods within those annual reporting periods. Early adoption is permitted. The Company is currently evaluating the impact of this amendment on its financial statements and related disclosures.

The Company does not expect that any other recently issued accounting guidance will have a significant effect on its consolidated financial statements.

Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2026

Fair Value Disclosures [Abstract]

Information about Financial Assets Measured at Fair Value on Recurring Basis Based on Three-Tier Fair Value Hierarchy

The following tables present information about the Company’s financial assets measured at fair value on a recurring basis, based on the three-tier fair value hierarchy:


	June 30, 2026
	Total		Level 1		Level 2		Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	401,909	$	—	$	401,909	$	—
U.S. agency debt securities		80,954		—		80,954		—
Corporate debt securities		40,887		—		40,887		—
Preferred stock of privately-held companies		15,001		—		—		15,001
Money market accounts		5,108		5,108		—		—
Municipal bonds		1,293		—		1,293		—
Total equity securities, debt securities and cash equivalents	$	545,152	$	5,108	$	525,043	$	15,001


	December 31, 2025
	Total		Level 1		Level 2		Level 3
	(in thousands)
Equity securities, debt securities and cash equivalents
U.S. government debt securities	$	448,233	$	—	$	448,233	$	—
U.S. agency debt securities		157,557		—		157,557		—
Corporate debt securities		47,481		—		47,481		—
Money market accounts		18,398		18,398		—		—
Preferred stock of privately-held companies		15,001		—		—		15,001
Municipal bonds		1,387		—		1,387		—
Yankee debt securities		495		—		495		—
Total equity securities, debt securities and cash equivalents	$	688,552	$	18,398	$	655,153	$	15,001

Goodwill and Intangible Assets - Summaries of Goodwill and Acquisitions-Related Intangibles Balances (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Dec. 31, 2025
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, net	$ 68,490	$ 68,490
Total	80,769
Total intangible assets, net	149,259	133,281
Laboratory Services
Goodwill And Intangible Assets [Line Items]
Total	80,769	62,555
Laboratory Services \| Customer Relationships
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	105,170	83,135
Less: accumulated amortization	(29,439)	(25,633)
Total	$ 75,731	57,502
Weighted-Average Amortization Period	12 years
Laboratory Services \| Royalty-Free Technology
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	$ 5,453	5,291
Less: accumulated amortization	(2,818)	(2,469)
Total	$ 2,635	2,822
Weighted-Average Amortization Period	10 years
Laboratory Services \| Trade Name
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	$ 4,490	3,790
Less: accumulated amortization	(2,201)	(1,896)
Total	$ 2,289	1,894
Weighted-Average Amortization Period	7 years
Laboratory Services \| Laboratory Information System Platform
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	$ 1,860	1,860
Less: accumulated amortization	(1,829)	(1,643)
Total	$ 31	217
Weighted-Average Amortization Period	5 years
Laboratory Services \| In-Place Lease Intangible Assets
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	$ 360	360
Less: accumulated amortization	(290)	(255)
Total	$ 70	105
Weighted-Average Amortization Period	5 years
Laboratory Services \| Purchased Patent
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	$ 29	29
Less: accumulated amortization	(16)	(14)
Total	$ 13	15
Weighted-Average Amortization Period	10 years
Therapeutic Development
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, net	$ 68,490	70,726
Therapeutic Development \| Customer Relationships
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, gross	2,300	2,300
Less: accumulated amortization	(128)	(64)
Less: accumulated impairment	$ (2,172)
Total		2,236
Weighted-Average Amortization Period	18 years
Therapeutic Development \| In-Process Research & Development
Goodwill And Intangible Assets [Line Items]
Acquisitions-related intangibles, net	$ 68,490	$ 68,490

Summary of Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2026

Accounting Policies [Abstract]

Use of Estimates

Cash, Cash Equivalents, and Restricted Cash Shown in the Condensed Consolidated Statements of Cash Flows


	Six Months Ended June 30,
	2026		2025
	(in thousands)
Cash and cash equivalents	$	26,305	$	87,880
Restricted cash included in Other long-term assets		135		135
Total cash, cash equivalents, and restricted cash	$	26,440	$	88,015

Trade Accounts Receivable and Allowance for Credit Losses

A roll-forward of the activity in the Company’s allowance for credit losses for the six months ended June 30, 2026, dollars in thousands, is as follows:


Allowance for credit losses at beginning of year	$	21,411
Current period provision		4,856
Write-downs		(749	)
Recoveries of amounts previously charged off		12
Allowance for credit losses as of June 30, 2026	$	25,530

Business Combinations

Finite-Lived Intangible Assets

Impairment of Long-Lived Assets

Goodwill and Indefinite-Lived Intangibles

Fair Value of Financial Instruments

Concentrations of Credit Risk, Customers, and Suppliers

Reportable Segments and Geographic Information

Foreign Currency Translation and Foreign Currency Transactions

Income Taxes

The effective tax rate used for interim periods is the estimated annual effective consolidated tax rate, based on the current estimate of full year results, except that taxes related to specific events, if any, are recorded in the interim period in which they occur. The annual effective tax rate is based upon several significant estimates and judgments, including the estimated annual pre-tax income (loss) of the Company in each tax jurisdiction in which it operates, and the development of tax planning strategies during the year. In addition, the Company’s tax expense can be impacted by changes in tax rates or laws and other factors that cannot be predicted with certainty. As such, there can be significant volatility in interim tax provisions.

Comprehensive (Loss) Income

Disaggregation of Revenue


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
	(in thousands)
Revenue by payor
Institutional	$	39,126	$	45,619	$	77,690	$	86,943
Insurance		44,229		34,385		73,977		65,129
Patients		2,034		1,799		4,860		3,194
Total revenue	$	85,389	$	81,803	$	156,527	$	155,266

Contract Balances

Receivables from contracts with customers

Contract assets and liabilities

Prior Period Reclassifications

Recent Accounting Pronouncements

Adopted

Issued

The Company does not expect that any other recently issued accounting guidance will have a significant effect on its consolidated financial statements.

Reportable Segments and Geographic Information

6 Months Ended

Jun. 30, 2026

Segment Reporting [Abstract]

Reportable Segments and Geographic Information

Note 7. Reportable Segments and Geographic Information

The Company has two distinct reportable segments. The laboratory services operating segment offers technical laboratory and testing services and professional interpretation of laboratory results by licensed physicians who specialize in pathology and oncology. The therapeutic development operating segment is a pharmaceutical research and development entity.

The Company’s Chief Executive Officer serves as its CODM. The CODM oversees the Company’s operations and evaluates financial data for its two operating segments separately to make resource allocation decisions. The financial information regularly provided to the CODM includes various performance metrics by reportable segment, such as gross profit, operating income or loss, income or loss before income taxes, net income or loss from consolidated operations, and net income or loss attributable to the Company, all presented in accordance with U.S. GAAP. Although multiple financial metrics are provided, the CODM primarily relies on adjusted (non-GAAP) operating income or loss to evaluate segment performance and allocate resources. These adjusted metrics exclude the impact of equity-based compensation expenses, amortization of intangible assets, and acquisition-related costs including acquisition-related severance, if applicable as determined by management. Acquisition-related costs and acquisition-related severance are related to the acquisition of Bako (as defined below), which closed on March 17, 2026, see Note 15. Business Combinations for additional details. The balance sheet is presented on a consolidated basis, as the CODM does not use asset or liability information, including fixed assets, to assess segment performance. As a result, segment asset and liability details are not disclosed.

The newly acquired entity, Bako, is considered part of the laboratory services segment as this acquisition was strategically undertaken to further strengthen the Company’s laboratory services business by adding new products and services and further expanding its national client base, national sales team, and team of expert pathologists. Consequently, Bako’s operations are integrated into the laboratory services segment, with shared resources and collaborative efforts, and the CODM evaluates Bako’s operations as part of the laboratory services segment’s consolidated financial information. Therefore, Bako’s financial results are grouped within the laboratory services segment’s reporting.

There is no inter-segment allocation of interest expense and income taxes. There is no inter-segment revenue and operating income or loss. The Company did not allocate income tax by segment. Information regarding the Company’s operations and assets for its reportable segments as well as geographic information was as follows, all dollars are in thousands:


	Laboratory Services			Therapeutic Development			Total
Three Months Ended June 30, 2026
Revenue	$	85,359		$	30		$	85,389
Less:
Adjusted cost of revenue		58,617			8			58,625
Adjusted research and development		6,823			4,595			11,418
Adjusted selling and marketing		14,663			—			14,663
Adjusted general and administrative		22,698			391			23,089
Total adjusted operating loss	$	(17,442	)	$	(4,964	)	$	(22,406	)


	Laboratory Services			Therapeutic Development			Total
Six Months Ended June 30, 2026
Revenue	$	156,410		$	117		$	156,527
Less:
Adjusted cost of revenue		106,797			15			106,812
Adjusted research and development		13,284			8,773			22,057
Adjusted selling and marketing		26,239			—			26,239
Adjusted general and administrative		42,750			748			43,498
Total adjusted operating loss	$	(32,660	)	$	(9,419	)	$	(42,079	)


	Laboratory Services			Therapeutic Development			Total
Three Months Ended June 30, 2025
Revenue	$	81,803		$	—		$	81,803
Less:
Adjusted cost of revenue		45,631			—			45,631
Adjusted research and development		5,435			4,706			10,141
Adjusted selling and marketing		11,575			—			11,575
Adjusted general and administrative		21,970			170			22,140
Total adjusted operating loss	$	(2,808	)	$	(4,876	)	$	(7,684	)


	Laboratory Services			Therapeutic Development			Total
Six Months Ended June 30, 2025
Revenue	$	155,266		$	—		$	155,266
Less:
Adjusted cost of revenue		88,968			—			88,968
Adjusted research and development		10,366			8,696			19,062
Adjusted selling and marketing		19,150			—			19,150
Adjusted general and administrative		42,595			430			43,025
Total adjusted operating loss	$	(5,813	)	$	(9,126	)	$	(14,939	)


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Reconciliation of “adjusted operating loss” to “loss before income taxes”
Adjusted operating loss	$	(22,406	)	$	(7,684	)	$	(42,079	)	$	(14,939	)
Less (add):
Equity-based compensation		8,624			10,039			18,514			20,589
Acquisition-related costs		17			—			2,649			—
Acquisition-related severance		251			—			647			—
Amortization of intangible assets		2,603			1,990			4,634			3,980
Impairment of intangible assets		2,172			—			2,172			—
Interest income		(6,404	)		(8,091	)		(15,055	)		(16,109	)
Interest expense		59			17			76			31
Impairment of equity securities		—			9,926			—			9,926
Other income, net		(38	)		(46	)		(48	)		(114	)
Total loss before income taxes	$	(29,690	)	$	(21,519	)	$	(55,668	)	$	(33,242	)

Significant items by segment excluded from the adjusted operating (loss) income were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Equity-based compensation
Laboratory services	$	6,501	$	8,034	$	14,142	$	16,566
Therapeutic development		2,123		2,005		4,372		4,023
Total	$	8,624	$	10,039	$	18,514	$	20,589

Revenue by segment was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Laboratory services:
Precision diagnostics	$	41,453	$	47,428	$	81,691	$	91,525
Anatomic pathology		37,497		28,122		62,577		53,422
BioPharma services		6,409		6,253		12,142		10,319
Total laboratory services		85,359		81,803		156,410		155,266
Therapeutic development:
BioPharma services		30		—		117		—
Total therapeutic development		30		—		117		—
Total	$	85,389	$	81,803	$	156,527	$	155,266

Depreciation and amortization by segment were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Laboratory services	$	7,528	$	5,889	$	13,385	$	11,644
Therapeutic development		148		165		291		329
Total	$	7,676	$	6,054	$	13,676	$	11,973

Interest income and expense by segment were as follows:


	Three Months Ended June 30,						Six Months Ended June 30,
	2026			2025			2026			2025
Laboratory services
Interest income	$	6,404		$	8,091		$	15,055		$	16,109
Interest expense		(59	)		(17	)		(76	)		(31	)
Therapeutic development
Interest income		—			—			—			—
Interest expense		—			—			—			—
Total	$	6,345		$	8,074		$	14,979		$	16,078

Total assets by segment were as follows:


	June 30, 2026		December 31, 2025
Laboratory services	$	982,893	$	1,096,379
Therapeutic development		106,330		117,146
Total	$	1,089,223	$	1,213,525

Geographic distribution of revenue was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
United States	$	78,293	$	76,207	$	143,369	$	144,033
Foreign
China		3,081		2,407		5,640		5,018
Other countries		4,045		3,189		7,518		6,215
Total foreign		7,096		5,596		13,158		11,233
Total	$	85,389	$	81,803	$	156,527	$	155,266

Geographic distribution of property, plant and equipment, net was as follows:


	June 30, 2026		December 31, 2025
United States	$	106,991	$	106,250
Foreign
China		4,603		4,692
Other countries		1,474		1,607
Total foreign		6,077		6,299
Total	$	113,068	$	112,549

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

Leases - Schedule of Supplemental Information Related to Operating and Finance Leases (Details)	Jun. 30, 2026
Leases [Abstract]
Weighted average remaining lease term - operating leases	5 years 3 months 25 days
Weighted average discount rate - operating leases	6.11%
Weighted average remaining lease term - finance lease	6 months
Weighted average discount rate - finance lease	3.21%

Other Significant Balance Sheet Accounts - Schedule of Accrued Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Balance Sheet Related Disclosures [Abstract]
Payroll liabilities	$ 9,937	$ 4,383
Vacation accrual	6,359	5,236
Accrued bonus and commission	2,774	5,224
Operating lease liabilities - short term	1,855	1,462
Accrued legal liabilities		14,905
Other accrued liabilities	2,582	2,847
Total	$ 23,507	$ 34,057

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Statement of Comprehensive Income [Abstract]
Net loss from consolidated operations	$ (29,719)	$ (19,256)	$ (54,993)	$ (31,155)
Other comprehensive income (loss):
Foreign currency translation income	234	233	474	342
Net (loss) gain on available-for-sale debt securities, net of tax	(2,639)	1,193	(5,788)	5,817
Net comprehensive loss from consolidated operations	(32,124)	(17,830)	(60,307)	(24,996)
Net loss attributable to noncontrolling interest	189	299	637	668
Foreign currency translation (gain) loss attributable to noncontrolling interest	(211)	237	(278)	207
Comprehensive loss (income) attributable to noncontrolling interest	(22)	536	359	875
Comprehensive loss attributable to Fulgent	$ (32,146)	$ (17,294)	$ (59,948)	$ (24,121)

Loss per Share - Reconciliation of Basic and Diluted Loss Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Earnings Per Share [Abstract]
Net loss attributable to Fulgent	$ (29,530)	$ (18,957)	$ (54,356)	$ (30,487)
Weighted-average common shares—outstanding, basic	28,005	30,544	29,435	30,687
Weighted-average effect of dilutive securities:
Weighted-average common shares—outstanding, diluted	28,005	30,544	29,435	30,687
Loss per Share, basic	$ (1.05)	$ (0.62)	$ (1.85)	$ (0.99)
Loss per Share, diluted	$ (1.05)	$ (0.62)	$ (1.85)	$ (0.99)

- Definition

The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period.

+ References

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+ Details

- Definition

The amount of net income (loss) derived from continuing operations during the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

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+ Details

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

+ References

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+ Details

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 26,305	$ 50,193
Marketable securities	230,727	285,884
Trade accounts receivable, net of allowance for credit losses of $21,450 as of June 30, 2026, and $21,411 as of December 31, 2025	64,938	84,762
Prepaid income taxes	110,569	107,099
Other current assets	22,231	22,552
Total current assets	454,770	550,490
Marketable securities, long-term	294,316	369,269
Fixed assets, net	113,068	112,549
In-process research & development	68,490	68,490
Other intangible assets, net	80,769	64,791
Goodwill	53,861	25,080
Other long-term assets	23,949	22,856
Total assets	1,089,223	1,213,525
Current liabilities
Accounts payable	15,555	18,654
Accrued liabilities	23,507	34,057
Customer deposit	28,808	28,145
Contract liabilities	3,404	3,635
Notes payable, current	482	476
Total current liabilities	71,756	84,967
Deferred tax liabilities	6,892	6,936
Unrecognized tax benefits	5,617	7,283
Other long-term liabilities	8,972	7,624
Total liabilities	93,237	106,810
Commitments and Contingencies (Note 8)
Stockholders’ equity
Common stock, $0.0001 par value per share, 50,000 shares authorized, 35,057 shares issued and 27,515 shares outstanding as of June 30, 2026, and 34,501 shares issued and 31,081 shares outstanding as of December 31, 2025	4	3
Preferred stock, $0.0001 par value per share, 1,000 shares authorized, no shares issued or outstanding as of June 30, 2026, and December 31, 2025
Additional paid-in capital	524,097	574,520
Accumulated other comprehensive income	1,920	7,512
Retained earnings	475,598	529,954
Total Fulgent stockholders' equity	1,001,619	1,111,989
Noncontrolling interest	(5,633)	(5,274)
Total stockholders’ equity	995,986	1,106,715
Total liabilities and stockholders’ equity	$ 1,089,223	$ 1,213,525