Exagen Inc. (XGN) Financial Statements
Industry: Medical Laboratories (Services)
In fiscal 2025, Exagen reported revenue of $66.6M, up 19.7% from $55.6M the year before. Net income was -$20.0M (a -30.0% net margin), or -$0.93 per diluted share. Gross margin was 58.3% and operating margin was -21.1%. Operating activities generated -$13.6M of cash, leaving -$14.3M of free cash flow. At fiscal year end, Exagen held $58.0M in total assets against $40.6M in total liabilities, including $32.2M of cash and equivalents.
Open the full interactive Exagen financials → Quarterly statements, key ratios, valuation history and price charts.
Exagen Key Stats
| Share Price | $8.48 |
|---|---|
| Market Cap | $204.9M |
| Revenue YoY Growth | +19.7% |
| 52-Week Range | $2.65 – $11.96 |
| Shares Outstanding | 24.2 million (basic, 2026 Q2) |
Exagen Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $42.0M | $48.3M | $45.6M | $52.5M | $55.6M | $66.6M |
| Cost of Goods Sold | $16.6M | $20.6M | $24.2M | $23.1M | $22.5M | $27.8M |
| Gross Profit | $25.4M | $27.7M | $21.3M | $29.5M | $33.1M | $38.8M |
| Operating Income | -$15.2M | -$24.1M | -$46.1M | -$22.8M | -$13.6M | -$14.1M |
| Pre-Tax Income | -$16.8M | -$26.7M | -$47.7M | -$23.7M | -$15.1M | -$19.9M |
| Income Tax | -$79,000 | $175,000 | -$282,000 | $33,000 | $12,000 | $51,000 |
| Net Income | -$16.7M | -$26.9M | -$47.4M | -$23.7M | -$15.1M | -$20.0M |
| Diluted EPS | -$1.32 | -$1.68 | -$2.77 | -$1.34 | -$0.83 | -$0.93 |
Exagen Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $17.2M | $16.6M | $17.3M | $19.9M |
| Net Income | -$7.1M | -$4.7M | -$4.0M | -$3.2M |
| Diluted EPS | -$0.31 | -$0.22 | -$0.17 | -$0.13 |
Exagen Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $57.4M | $99.4M | $62.4M | $36.5M | $22.0M | $32.2M |
| Current Assets | $70.5M | $112.7M | $72.6M | $47.8M | $36.5M | $48.9M |
| Total Assets | $78.4M | $123.4M | $86.2M | $56.9M | $44.7M | $58.0M |
| Current Liabilities | $8.8M | $9.3M | $9.6M | $11.9M | $13.5M | $14.2M |
| Total Long-Term Debt | $26.7M | $27.5M | $29.0M | $19.5M | $20.2M | $22.9M |
| Total Liabilities | $36.5M | $38.5M | $43.8M | $34.2M | $35.1M | $40.6M |
| Shareholders' Equity | $41.8M | $84.9M | $42.5M | $22.7M | $9.5M | $17.4M |
Exagen Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$14.1M | -$20.3M | -$32.1M | -$14.5M | -$13.3M | -$13.6M |
| Cash From Investing | -$455,000 | -$2.4M | -$4.3M | -$804,000 | -$515,000 | -$626,000 |
| Cash From Financing | -$97,000 | $64.7M | -$489,000 | -$10.6M | -$663,000 | $24.4M |
| Free Cash Flow | -$14.5M | -$22.6M | -$36.5M | -$15.3M | -$13.8M | -$14.3M |
Figures from Exagen's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Exagen financials page for every line item.
Exagen Company Profile
| Ticker | XGN |
|---|---|
| Exchange | Nasdaq |
| Industry | Medical Laboratories (Services) |
| Headquarters | Vista, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001274737 |
Frequently Asked Questions
What was Exagen's revenue in fiscal 2025?
Exagen (XGN) reported revenue of $66.6M for fiscal 2025.
What is Exagen's annual revenue history?
Exagen's annual revenue by fiscal year: 2020: $42.0M; 2021: $48.3M; 2022: $45.6M; 2023: $52.5M; 2024: $55.6M; 2025: $66.6M.
What was Exagen's net income in fiscal 2025?
Exagen reported net income of -$20.0M for fiscal 2025.
What was Exagen's earnings per share (EPS) in fiscal 2025?
Exagen's diluted EPS was -$0.93 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Exagen generate in fiscal 2025?
Exagen generated -$14.3M of free cash flow in fiscal 2025.
What was Exagen's revenue last quarter?
In its most recent reported quarter (2026 Q2), Exagen reported revenue of $19.9M.
How much debt does Exagen have?
Exagen reported $22.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of Exagen are outstanding?
Exagen reported a weighted average of 24.2 million basic shares outstanding in 2026 Q2.
What is Exagen's market cap?
Based on its latest closing price, Exagen (XGN) has a market capitalization of about $204.9M.
When does Exagen's fiscal year end?
Exagen's fiscal year end, as registered with the SEC, is December 31.
Where is Exagen headquartered?
Exagen lists its business address in Vista, California in its SEC filings.