NASDAQ : XGN
Exagen Inc. — Financial statements
Healthcare · Diagnostics & Research · United States
Last price 8.59 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 208.10M
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Financial statements
Exagen Inc. (XGN) reported revenue of 71.12M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 71.12M | 66.58M | 55.64M | 52.55M | 45.56M | 48.30M |
| Cost of Revenue | 29.42M | 27.78M | 22.53M | 23.09M | 24.21M | 20.59M |
| Gross Profit | 41.70M | 38.80M | 33.11M | 29.46M | 21.35M | 27.71M |
| Selling, General & Admin | 48.45M | 46.62M | 41.37M | 47.43M | 52.02M | 44.54M |
| Research & Development | 6.47M | 6.25M | 5.38M | 4.87M | 9.48M | 7.24M |
| Operating Expenses | 54.91M | 52.87M | 46.75M | 52.29M | 61.50M | 51.78M |
| Operating Income | -13.21M | -14.07M | -13.64M | -22.84M | -40.15M | -24.07M |
| Interest Expense | -5.12M | -4.32M | -2.23M | -2.33M | -2.45M | -2.62M |
| Interest & Investment Income | 289.00K | 289.00K | 767.00K | 1.52M | 830.00K | 16.00K |
| Other Non Operating Income (Expenses) | -222.00K | |||||
| EBT Excluding Unusual Items | -18.26M | -18.10M | -15.10M | -23.66M | -41.77M | -26.68M |
| Impairment of Goodwill | -5.51M | |||||
| Asset Writedown | -397.00K | |||||
| Other Unusual Items | -612.00K | -1.80M | ||||
| Pretax Income | -18.87M | -19.90M | -15.10M | -23.66M | -47.67M | -26.68M |
| Income Tax Expense | 50.00K | 51.00K | 12.00K | 33.00K | -282.00K | 175.00K |
| Net Income | -18.92M | -19.95M | -15.12M | -23.69M | -47.39M | -26.85M |
| Net Income to Common | -18.92M | -19.95M | -15.12M | -23.69M | -47.39M | -26.85M |
| Shares Outstanding (Basic) | 23.65M | 21.56M | 18.20M | 17.68M | 17.08M | 15.97M |
| Shares Outstanding (Diluted) | 23.65M | 21.56M | 18.20M | 17.68M | 17.08M | 15.97M |
| EPS (Basic) | -0.80 | -0.93 | -0.83 | -1.34 | -2.77 | -1.68 |
| EPS (Diluted) | -0.80 | -0.93 | -0.83 | -1.34 | -2.77 | -1.68 |
| Free Cash Flow | -7.59M | -14.27M | -13.79M | -15.29M | -36.46M | -22.64M |
| Free Cash Flow Per Share | -0.32 | -0.66 | -0.76 | -0.86 | -2.13 | -1.42 |
| Gross Margin | 58.64% | 58.28% | 59.51% | 56.05% | 46.86% | 57.37% |
| Operating Margin | -18.57% | -21.13% | -24.51% | -43.46% | -88.11% | -49.83% |
| Profit Margin | -26.61% | -29.97% | -27.16% | -45.08% | -104.00% | -55.59% |
| Free Cash Flow Margin | -10.67% | -21.43% | -24.79% | -29.10% | -80.03% | -46.87% |
| EBITDA | -10.77M | -11.95M | -11.91M | -20.67M | -38.59M | -23.12M |
| EBITDA Margin | -15.15% | -17.95% | -21.41% | -39.33% | -84.70% | -47.87% |
| D&A For EBITDA | 2.44M | 2.12M | 1.72M | 2.17M | 1.56M | 948.00K |
| EBIT | -13.21M | -14.07M | -13.64M | -22.84M | -40.15M | -24.07M |
| EBIT Margin | -18.57% | -21.13% | -24.51% | -43.46% | -88.11% | -49.83% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 24.59M | 32.22M | 22.04M | 36.49M | 62.39M | 99.44M |
| Cash & Short-Term Investments | 24.59M | 32.22M | 22.04M | 36.49M | 62.39M | 99.44M |
| Receivables | 12.41M | 10.86M | 7.83M | 6.55M | 6.08M | 9.65M |
| Inventory | 4.16M | 3.30M | 5.72M | 2.87M | 1.79M | 1.09M |
| Prepaid Expenses | 1.20M | 1.34M | 859.00K | 1.93M | 2.35M | 2.55M |
| Other Current Assets | 505.00K | 1.18M | ||||
| Total Current Assets | 42.86M | 48.89M | 36.45M | 47.84M | 72.61M | 112.73M |
| Property, Plant & Equipment | 8.52M | 8.37M | 7.68M | 8.49M | 13.08M | 4.77M |
| Goodwill | 5.51M | |||||
| Other Long-Term Assets | 560.00K | 756.00K | 550.00K | 616.00K | 528.00K | 433.00K |
| Total Assets | 51.94M | 58.02M | 44.69M | 56.94M | 86.22M | 123.44M |
| Accounts Payable | 4.44M | 4.15M | 4.14M | 3.13M | 3.05M | 2.49M |
| Accrued Expenses | 4.94M | 6.33M | 6.92M | 7.04M | 4.20M | 6.24M |
| Current Portion of Long-Term Debt | 517.00K | 643.00K | 423.00K | 264.00K | 190.00K | |
| Current Portion of Leases | 2.07M | 2.36M | 1.30M | 1.47M | 1.74M | 587.00K |
| Current Unearned Revenue | 1.49M | 675.00K | 733.00K | |||
| Other Current Liabilities | 445.00K | |||||
| Total Current Liabilities | 13.46M | 14.16M | 13.51M | 11.90M | 9.62M | 9.32M |
| Long-Term Debt | 22.32M | 22.26M | 19.82M | 19.23M | 28.78M | 27.48M |
| Long-Term Leases | 2.75M | 2.40M | 1.82M | 3.12M | 5.34M | |
| Long-Term Deferred Tax Liabilities | 306.00K | |||||
| Other Long-Term Liabilities | 1.19M | 1.75M | 19.00K | 1.41M | ||
| Total Liabilities | 39.72M | 40.57M | 35.15M | 34.25M | 43.76M | 38.51M |
| Common Stock | 24.00K | 23.00K | 18.00K | 17.00K | 17.00K | 16.00K |
| Additional Paid-In Capital | 333.64M | 331.71M | 303.85M | 301.89M | 297.97M | 293.06M |
| Retained Earnings | -321.44M | -314.28M | -294.33M | -279.22M | -255.53M | -208.14M |
| Total Common Equity | 12.22M | 17.45M | 9.54M | 22.69M | 42.46M | 84.94M |
| Shareholders' Equity | 12.22M | 17.45M | 9.54M | 22.69M | 42.46M | 84.94M |
| Total Liabilities & Equity | 51.94M | 58.02M | 44.69M | 56.94M | 86.22M | 123.44M |
| Total Debt | 27.66M | 27.67M | 23.36M | 24.08M | 36.05M | 28.07M |
| Net Cash (Debt) | -3.07M | 4.55M | -1.33M | 12.41M | 26.34M | 71.38M |
| Net Cash Per Share | -0.13 | 0.21 | -0.07 | 0.70 | 1.54 | 4.47 |
| Filing Date Shares Outstanding | 24.23M | 24.05M | 17.90M | 17.24M | 16.83M | 16.23M |
| Total Common Shares Outstanding | 24.19M | 22.91M | 17.64M | 17.05M | 16.55M | 16.16M |
| Working Capital | 29.40M | 34.73M | 22.95M | 35.94M | 62.99M | 103.42M |
| Book Value Per Share | 0.50 | 0.76 | 0.54 | 1.33 | 2.57 | 5.25 |
| Tangible Book Value | 12.22M | 17.45M | 9.54M | 22.69M | 42.46M | 79.43M |
| Tangible Book Value Per Share | 0.50 | 0.76 | 0.54 | 1.33 | 2.57 | 4.91 |
| Machinery | 8.10M | 6.77M | 5.21M | 5.09M | 3.92M | 3.15M |
| Construction In Progress | 384.00K | 294.00K | 1.54M | 59.00K | 1.38M | 1.85M |
| Leasehold Improvements | 3.38M | 3.31M | 3.26M | 3.32M | 5.22M | 1.15M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -18.92M | -19.95M | -15.12M | -23.69M | -47.39M | -26.85M |
| Depreciation & Amortization | 2.44M | 2.12M | 1.72M | 2.17M | 1.56M | 948.00K |
| Other Amortization | 530.00K | 378.00K | 154.00K | 156.00K | 161.00K | 279.00K |
| Loss (Gain) From Sale of Assets | 189.00K | |||||
| Asset Writedown & Restructuring Costs | 5.90M | |||||
| Stock-Based Compensation | 2.93M | 2.16M | 1.76M | 3.62M | 4.70M | 4.73M |
| Other Operating Activities | 2.92M | 3.65M | 1.27M | 2.77M | 1.25M | 688.00K |
| Change in Accounts Receivable | 2.32M | -3.02M | -1.28M | -474.00K | 3.58M | -744.00K |
| Change in Accounts Payable | 1.82M | 42.00K | 308.00K | 67.00K | 901.00K | -655.00K |
| Change in Unearned Revenue | 476.00K | -58.00K | 733.00K | |||
| Change in Other Net Operating Assets | -553.00K | 1.05M | -2.83M | 732.00K | -2.81M | 1.34M |
| Operating Cash Flow | -6.50M | -13.62M | -13.28M | -14.46M | -32.14M | -20.27M |
| Capital Expenditures | -1.09M | -641.00K | -515.00K | -828.00K | -4.32M | -2.37M |
| Sale of Property, Plant & Equipment | 9.00K | 15.00K | 24.00K | |||
| Other Investing Activities | -50.00K | |||||
| Investing Cash Flow | -1.08M | -626.00K | -515.00K | -804.00K | -4.32M | -2.42M |
| Long-Term Debt Issued | 23.67M | |||||
| Total Debt Issued | 23.67M | |||||
| Long-Term Debt Repaid | -20.79M | -861.00K | -10.94M | -696.00K | -525.00K | |
| Total Debt Repaid | -1.41M | -20.79M | -861.00K | -10.94M | -696.00K | -525.00K |
| Net Debt Issued (Repaid) | -1.41M | 2.88M | -861.00K | -10.94M | -696.00K | -525.00K |
| Issuance of Common Stock | 3.74M | 22.42M | 198.00K | 306.00K | 446.00K | 69.66M |
| Repurchase of Common Stock | -239.00K | |||||
| Other Financing Activities | -199.00K | -869.00K | -4.45M | |||
| Financing Cash Flow | 2.13M | 24.43M | -663.00K | -10.63M | -489.00K | 64.68M |
| Net Cash Flow | -5.45M | 10.18M | -14.46M | -25.90M | -36.95M | 41.99M |
| Free Cash Flow | -7.59M | -14.27M | -13.79M | -15.29M | -36.46M | -22.64M |
| Free Cash Flow Margin | -10.67% | -21.43% | -24.79% | -29.10% | -80.03% | -46.87% |
| Free Cash Flow Per Share | -0.32 | -0.66 | -0.76 | -0.86 | -2.13 | -1.42 |
| Levered Free Cash Flow | -1.56M | -10.36M | -8.25M | -9.27M | -22.48M | -13.05M |
| Unlevered Free Cash Flow | 1.11M | -8.04M | -7.01M | -7.97M | -21.12M | -11.69M |
| Cash Interest Paid | 3.48M | 2.99M | 1.72M | 1.74M | 1.73M | 1.81M |
| Cash Income Tax Paid | 35.00K | 35.00K | 32.00K | |||
| Change in Working Capital | 4.06M | -1.98M | -3.08M | 325.00K | 1.67M | -61.00K |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 208.10M | 137.79M | 72.31M | 33.92M | 39.17M | 187.99M |
| Enterprise Value | 211.16M | 130.31M | 74.02M | 30.71M | 5.95M | 109.10M |
| Last Close Price | 8.59 | 6.08 | 4.10 | 1.99 | 2.40 | 11.63 |
| PS Ratio | 2.93 | 2.07 | 1.30 | 0.65 | 0.86 | 3.89 |
| PB Ratio | 17.01 | 7.90 | 7.58 | 1.50 | 0.92 | 2.21 |
| P/TBV Ratio | 17.03 | 7.90 | 7.58 | 1.50 | 0.92 | 2.37 |
| EV/Sales Ratio | 2.97 | 1.96 | 1.33 | 0.58 | 0.13 | 2.26 |
| Debt / Equity Ratio | 2.26 | 1.59 | 2.45 | 1.06 | 0.85 | 0.33 |
| Net Debt / Equity Ratio | 0.25 | -0.26 | 0.14 | -0.55 | -0.62 | -0.84 |
| Net Debt / EBITDA Ratio | -0.28 | 0.38 | -0.11 | 0.60 | 0.68 | 3.09 |
| Net Debt / FCF Ratio | -0.40 | 0.32 | -0.10 | 0.81 | 0.72 | 3.15 |
| Asset Turnover | 1.28 | 1.30 | 1.09 | 0.73 | 0.43 | 0.48 |
| Inventory Turnover | 7.45 | 6.16 | 5.24 | 9.90 | 16.78 | 17.95 |
| Quick Ratio | 2.75 | 3.04 | 2.21 | 3.62 | 7.12 | 11.71 |
| Current Ratio | 3.19 | 3.45 | 2.70 | 4.02 | 7.55 | 12.10 |
| Return on Equity (ROE) | -113.82% | -147.84% | -93.78% | -72.72% | -74.39% | -42.36% |
| Return on Assets (ROA) | -14.92% | -17.12% | -16.77% | -19.94% | -23.94% | -14.91% |
| Return on Capital Employed (ROCE) | -34.30% | -32.10% | -43.70% | -50.70% | -52.40% | -21.10% |
| Earnings Yield | -9.31% | -14.48% | -20.90% | -69.84% | -120.99% | -14.28% |
| FCF Yield | -3.65% | -10.35% | -19.07% | -45.07% | -93.09% | -12.04% |
| Buyback Yield / Dilution | -23.90% | -18.43% | -2.96% | -3.50% | -6.95% | -26.43% |