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Exagen Inc.(XGN)Earnings, Financials & Key Ratios
XGN•NASDAQ
$4.80
Price updated Jul 7, 2026
AboutExagen Inc. develops and commercializes various testing products based on its cell-bound complement activation products technology under the AVISE brand in the United States. It enables rheumatologists to care for patients through the diagnosis, prognosis, and monitoring of autoimmune and autoimmune-related diseases, including systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). Its lead testing product is AVISE CTD that enables differential diagnosis for patients presenting with symptoms indicative of various connective tissue diseases (CTDs) and other related diseases with overlapping symptoms. The company offers AVISE Lupus that measures activation of the complement system by quantifying the level of B-cell C4d and erythrocyte bound C4d in the patient's blood; and AVISE APS, which consists of a panel of autoantibody tests that aids in the diagnosis and management of APS. In addition, it provides AVISE SLE Prognostic, a panel of autoantibodies for assessing the potential for complications affecting the kidney, brain, and cardiovascular system; AVISE Vasculitis AAV, which utilizes a testing panel of individual analytes to provide physicians with results in the assessment and monitoring of anti-neutrophil cytoplasmic antibody and associated vasculitis; AVISE Anti-CarP test, which identifies RA patients with severe disease; and AVISE PC4d to measure platelet- bound C4d. Further, the company offers AVISE SLE Monitor, a biomarker blood test; AVISE MTX, a patented and validated blood test; and AVISE HCQ, a blood test to monitor levels of hydroxychloroquine. It has a research collaboration and license agreement with Allegheny Health Network (AHN) Research Institute to develop novel patented biomarkers. The company was formerly known as Exagen Diagnostics, Inc. and changed its name to Exagen Inc. in January 2019. Exagen Inc. was incorporated in 2002 and is headquartered in Vista, California.Show more
- Revenue$67M+19.7%
- EBITDA-$12M-0.3%
- Net Income-$20M-32.0%
- EPS (Diluted)-0.93-12.0%
- Gross Margin58.28%-2.1%
- EBITDA Margin-17.95%+16.1%
- Operating Margin-21.13%+13.8%
- Net Margin-29.97%-10.3%
- ROE-147.85%-57.6%
XGN Price & Volume
Exagen Inc. (XGN) stock price & volume — 10-year historical chart
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Persistent Operating Losses Challenge Exagen Growth Trajectory
Investment Thesis • Updated 2026Q1
VerdictNegative
Growth:Mixed
Profitability:Negative
Financial:Vulnerable
Cash Flow:Burning
Primary Risk:Capital market dependency
Key Thesis Takeaways
- Exagen faces a precarious fundamental outlook characterized by persistent operating losses and an inability to achieve meaningful operating leverage, as evidenced by SG&A expenses that consistently track near or above gross profit levels.
- While the company maintains a lean asset base with CapEx/Revenue ratios consistently below 2%, the erosion of shareholder equity from $22.7 million in 2023Q4 to $14.4 million in 2026Q1 suggests significant long-term viability risks.
- Investors should monitor the company's narrowing liquidity buffer, as the current cash position of $21.5 million may necessitate further dilutive financing to sustain operations.
Verdict Logic
the company's inability to achieve positive net income, which reached a loss of $7.1 million in 2025Q3, combined with a shrinking cash runway, presents an unfavorable risk-reward profile for long-term investors.
XGN Growth Metrics
Exagen Inc. (XGN) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years19.03%
5 Years9.66%
3 Years13.47%
TTM20.55%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-30.04%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-7.14%
Return on Capital
10 Years-176.37%
5 Years-37.06%
3 Years-36.94%
Last Year-37.5%
XGN Recent Earnings
Exagen Inc. (XGN) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 8/12 qtrs (67%)●Beat Revenue 10/12 qtrs (83%)
Q2 2026Latest
May 11, 2026Metric
Actual
Est
EPS
$0.17+29.2%
$0.24
Rev
$17M+5.5%
$16M
Q2 2026
Mar 10, 2026Metric
Actual
Est
EPS
$0.20+0.0%
$0.20
Rev
$17M+0.4%
$17M
Q4 2025
Nov 4, 2025Metric
Actual
Est
EPS
$0.19-46.2%
$0.13
Rev
$17M+4.3%
$17M
Q3 2025
Jul 29, 2025Metric
Actual
Est
EPS
$0.18+0.0%
$0.18
Rev
$17M+1.8%
$17M
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 11, 2026 | $0.17vs $0.24+29.2% | $17Mvs $16M+5.5% |
| Q2 2026 | Mar 10, 2026 | $0.20vs $0.20+0.0% | $17Mvs $17M+0.4% |
| Q4 2025 | Nov 4, 2025 | $0.19vs $0.13-46.2% | $17Mvs $17M+4.3% |
| Q3 2025 | Jul 29, 2025 | $0.18vs $0.18+0.0% | $17Mvs $17M+1.8% |
Based on last 12 quarters of dataView full earnings history →
Peers Comparison
Key metrics vs top competitors for Exagen Inc. (XGN)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $4.80 | $115.97M | -5.16 | 19.65% | -29.97% | -147.85% | — | |
| $28.31 | $1.46B | -70.78 | 13.79% | -1.98% | -2.61% | — | |
| $281.27 | $40.28B | -185.05 | 35.9% | -9.05% | -15.13% | — | |
| $56.16 | $4.48B | 68.49 | 16.01% | 16.25% | 6.86% | — | |
| $23.83 | $722.76M | -28.71 | 3.66% | -3.77% | -2.77% | — | |
| $5.86 | $547.96M | -1.48 | -1.56% | -48.24% | -109.09% | — |
Compare XGN vs Peers
Exagen Inc. (XGN) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
XGN SEC Filings & Documents
Exagen Inc. (XGN) SEC filings — annual & quarterly reports (10-K, 10-Q)
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XGN Frequently Asked Questions
Exagen Inc. (XGN) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
What is Exagen Inc.'s revenue?
Exagen Inc. (XGN) reported $68.4M in revenue for fiscal year 2025. This represents a 7285% increase from $0.9M in 2012.
How fast is Exagen Inc. growing?
Exagen Inc. (XGN) grew revenue by 19.7% over the past year. This is strong growth.
Is XGN profitable?
Exagen Inc. (XGN) reported a net loss of $20.2M for fiscal year 2025.
Dividend & Returns
What is XGN's return on equity?
Exagen Inc. (XGN) has a return on equity (ROE) of -147.8%. Negative ROE indicates the company is unprofitable.
What is Exagen Inc.'s free cash flow?
Exagen Inc. (XGN) had negative free cash flow of $14.1M in fiscal year 2025, likely due to heavy capital investments.