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MARKETS / NASDAQ / XGN
NASDAQ · SERVICES-MEDICAL LABORATORIES · SMALL CAP

Exagen Inc. XGN

8 fiscal years on record · USD · FY2025 reported · SEC filings only
$66.6M
▲ 19.7% YoY
$-20.0M
$-14.3M
In brief

What this company does

It commercially launched its flagship testing product, AVISE CTD, in 2012. Revenue from the AVISE CTD product comprised 91% of its revenue for each of the years ended December 31, 2025 and 2024. As of December 31, 2025, the company had a total of 220 employees: 216 full-time employees and 4 part-time employees, including 59 in laboratory operations, 14 in research and development, 61 in sales and marketing and 82 in general and administrative functions. The company was incorporated under the laws of the state of New Mexico in 2002, under the name Exagen Corporation. In 2003, it changed its state of incorporation from New Mexico to Delaware by merging with and into Exagen Diagnostics, Inc., pursuant to which it changed its name to Exagen Diagnostics, Inc. In January 2019, it changed its name to Exagen Inc.

Written from the business description in EXAGEN INC.'s annual report to the U.S. Securities and Exchange Commission, filed 10 March 2026. Every sentence was checked against that document before publication.

Growth
USD 66.6M
Revenue, FY2025 · full 8-year series below
Revenue $M Net income $M
FY2025 · Revenue 66.6 · Net income -20.0
25.0M50.0M-20.0M-40.0M20182019202020212022202320242025
Compound annual growth
+13.5%
+9.7%
3 yrs
5 yrs
10 yrs
15 yrs

Revenue compounded at +9.7% a year over five years.

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability
−30 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -21.1% · Net -30.0%
-50%-100%20182019202020212022202320242025
ROE
FY2025 · ROE -147.8%
-50%-100%20182019202020212022202320242025

Each USD of equity lost 148 cents this year.

Cash & shareholders
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -14.3
-20M20182019202020212022202320242025

Total assetsUSD 58.0M
EquityUSD 17.4M
CashUSD 32.2M
Gross debtUSD 22.9M
Net debtUSD -9.3M
Current ratio3.45×

The company holds more cash than debt.

The 8-year record
8 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative
Metric 20252024202320222021202020192018
Revenue $B0.10.10.10.00.00.00.00.0
Operating income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EBITDA $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Income tax $B0.00.00.0−0.00.0−0.00.00.0
Net income $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
Free cash flow $B−0.0−0.0−0.0−0.0−0.0−0.0−0.0−0.0
EPS, diluted $−0.93−0.83−1.34−2.77−1.68−1.32−8.46−293.34
Dividend / sh $········
Payout %········
ROE %−147.8−93.8−72.7−74.4−42.4−34.2··
Shares out B0.020.020.020.020.020.010.010.00

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

Provenance
Company facts, as filed
How we verify · 2 failures in 35 reconciliationsAUDITED

Reconciled in 6 of 19 fiscal years. 55 checks could not be computed.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquiditymoeda_consistente2 failures
ActivityServices-Medical Laboratories
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2018

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