XGN

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Exagen Inc.

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Key Metrics

Previous Close: $7.43
52-Week Range: $2.59 – $12.23
Market Cap: $188.47M
P/E (TTM): —
EPS (TTM): -0.82
Dividend Yield: —

Advanced Metrics

Price/Book: 15.41
PEG Ratio: —
Return on Equity: -113.82%
Return on Assets: -14.92%
Gross Margin: 58.64%
Operating Margin: -8.63%
Profit Margin: -26.61%
Current Ratio: 3.19
Debt/Equity: 2.26
Total Debt: $27.66M
Free Cash Flow: $-1.56M
Revenue Growth: 15.90%
Earnings Growth: —
Enterprise Value: $183.06M

XGN Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$45.56M	$52.55M	$55.64M	$66.58M
Cost of Revenue	$24.21M	$23.09M	$22.53M	$27.78M
Gross Profit	$21.35M	$29.46M	$33.11M	$38.80M
Research & Development	$9.88M	$4.87M	$5.38M	$6.25M
Selling, General & Admin	$52.02M	$47.43M	$41.37M	$46.62M
Operating Expenses	$61.89M	$52.29M	$46.75M	$52.87M
Operating Income	-$40.55M	-$22.84M	-$13.64M	-$14.07M
EBITDA	-$43.66M	-$19.15M	-$11.14M	-$13.46M
Pretax Income	-$47.67M	-$23.66M	-$15.10M	-$19.90M
Income Tax	-$282.00K	$33.00K	$12.00K	$51.00K
Net Income	-$47.39M	-$23.69M	-$15.12M	-$19.95M
Diluted EPS	-2.77	-1.34	-0.83	-0.93
Diluted Shares	17.08M	17.68M	18.20M	21.56M

XGN Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$62.39M	$36.49M	$22.04M	$32.22M
Receivables	$6.08M	$6.55M	$7.83M	$10.86M
Current Assets	$72.61M	$47.84M	$36.45M	$48.89M
Total Assets	$86.22M	$56.94M	$44.69M	$58.02M
Current Liabilities	$9.62M	$11.90M	$13.51M	$14.16M
Long-Term Debt	$28.78M	$19.23M	$19.82M	$22.26M
Total Debt	$35.20M	$23.23M	$23.21M	$25.71M
Total Liabilities	$43.76M	$34.25M	$35.15M	$40.57M
Retained Earnings	-$255.53M	-$279.22M	-$294.33M	-$314.28M
Shareholders' Equity	$42.46M	$22.69M	$9.54M	$17.45M
Working Capital	$62.99M	$35.94M	$22.95M	$34.73M

XGN Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$32.14M	-$14.46M	-$13.28M	-$13.63M
Capital Expenditure	-$4.32M	-$828.00K	-$515.00K	-$641.00K
Free Cash Flow	-$36.46M	-$15.29M	-$13.79M	-$14.27M
Depreciation & Amortisation	$1.56M	$2.17M	$1.72M	$2.12M
Stock-Based Compensation	$4.70M	$3.62M	$1.76M	$2.16M
Investing Cash Flow	-$4.32M	-$804.00K	-$515.00K	-$626.00K
Financing Cash Flow	-$489.00K	-$10.63M	-$663.00K	$24.43M
Net Change in Cash	-$36.95M	-$25.90M	-$14.46M	$10.18M

XGN Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$15.50M	$17.20M	$17.24M	$16.63M	$17.31M
Cost of Revenue	$6.38M	$6.81M	$7.17M	$7.42M	$7.10M
Gross Profit	$9.12M	$10.39M	$10.07M	$9.21M	$10.21M
Research & Development	$1.28M	$1.48M	$1.73M	$1.76M	$1.55M
Selling, General & Admin	$11.20M	$11.54M	$11.45M	$12.42M	$12.07M
Operating Expenses	$12.49M	$13.03M	$13.18M	$14.18M	$13.62M
Operating Income	-$3.37M	-$2.63M	-$3.10M	-$4.97M	-$3.41M
EBITDA	-$2.77M	-$2.81M	-$5.16M	-$2.73M	-$2.06M
Pretax Income	-$3.75M	-$4.40M	-$7.09M	-$4.66M	-$3.93M
Income Tax	$0.00	$37.00K	$1.00K	$13.00K	$36.00K
Net Income	-$3.75M	-$4.44M	-$7.09M	-$4.67M	-$3.97M
Diluted EPS	-0.20	-0.21	-0.31	-0.20	-0.17
Diluted Shares	18.56M	21.09M	22.94M	23.58M	23.85M

XGN Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$11.19M	$30.03M	$35.65M	$32.22M	$21.51M
Receivables	$14.73M	$15.40M	$12.25M	$10.86M	$15.77M
Current Assets	$32.51M	$50.99M	$52.59M	$48.89M	$43.58M
Total Assets	$40.29M	$58.76M	$62.82M	$58.02M	$51.96M
Current Liabilities	$13.99M	$10.29M	$12.89M	$14.16M	$12.56M
Long-Term Debt	$18.41M	$22.31M	$22.26M	$22.26M	$22.29M
Total Debt	$23.44M	$25.20M	$26.03M	$25.71M	$25.35M
Total Liabilities	$33.89M	$37.73M	$44.69M	$40.57M	$37.52M
Retained Earnings	-$298.08M	-$302.52M	-$309.61M	-$314.28M	-$318.25M
Shareholders' Equity	$6.40M	$21.03M	$18.14M	$17.45M	$14.43M
Working Capital	$18.51M	$40.69M	$39.70M	$34.73M	$31.02M
Net Debt	$9.75M	—	—	—	$1.36M

XGN Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$10.67M	-$2.88M	$2.94M	-$3.01M	-$10.42M
Capital Expenditure	-$113.00K	-$209.00K	-$275.00K	-$44.00K	-$228.00K
Free Cash Flow	-$10.78M	-$3.09M	$2.67M	-$3.06M	-$10.64M
Depreciation & Amortisation	$440.00K	$466.00K	$612.00K	$600.00K	$599.00K
Stock-Based Compensation	$417.00K	$443.00K	$593.00K	$705.00K	$655.00K
Investing Cash Flow	-$107.00K	-$209.00K	-$275.00K	-$35.00K	-$228.00K
Financing Cash Flow	-$64.00K	$21.93M	$2.95M	-$384.00K	-$62.00K
Net Change in Cash	-$10.84M	$18.84M	$5.62M	-$3.43M	-$10.71M

Market Snapshot

About

Exagen is a commercial-stage diagnostics company focused on transforming the care continuum for patients with autoimmune diseases. The company has developed and commercialized a portfolio of innovative testing products that enable differential diagnosis and monitor disease activity in rheumatic and autoimmune diseases. Exagen specializes in cell-bound complement activation products and other biomarker-based tests.