EXAGEN INC.XGNEarnings & Financial Report
Exagen Inc. is a clinical diagnostics company specializing in developing, manufacturing, and commercializing proprietary testing solutions for autoimmune, rheumatic, and related chronic diseases. It mainly operates in the U.S. market, serving healthcare providers and patients to support accurate disease diagnosis and treatment monitoring.
XGN Q4 FY2025 Key Financial Metrics
Revenue
$16.6M
Gross Profit
$9.2M
Operating Profit
$-5.0M
Net Profit
$-4.7M
Gross Margin
55.4%
Operating Margin
-29.9%
Net Margin
-28.1%
YoY Growth
21.8%
EPS
$-0.21
EXAGEN INC. Q4 FY2025 Financial Summary
EXAGEN INC. reported revenue of $16.6M (up 21.8% YoY) for Q4 FY2025, with a net profit of $-4.7M (down 24.2% YoY) (-28.1% margin). Cost of goods sold was $7.4M, operating expenses totaled $14.2M.
Key Financial Metrics
| Total Revenue | $16.6M |
|---|---|
| Net Profit | $-4.7M |
| Gross Margin | 55.4% |
| Operating Margin | -29.9% |
| Report Period | Q4 FY2025 |
Revenue Breakdown
EXAGEN INC. Q4 FY2025 revenue of $16.6M breaks down across 3 segments, led by Commercial at $9.3M (56.0% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Commercial | $9.3M | 56.0% |
| Government1 | $4.3M | 26.0% |
| Client Direct Bill | $2.9M | 17.7% |
EXAGEN INC. Annual Revenue by Year
EXAGEN INC. annual revenue history includes year-by-year totals (for example, 2025 revenue was $66.6M).
EXAGEN INC. Quarterly Revenue & Net Profit History
EXAGEN INC. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $16.6M | +21.8% | $-4.7M | -28.1% |
| Q3 FY2025 | $17.2M | +37.9% | $-7.1M | -41.1% |
| Q2 FY2025 | $17.2M | +14.2% | $-4.4M | -25.8% |
| Q1 FY2025 | $15.5M | +7.5% | $-3.8M | -24.2% |
| Q4 FY2024 | $13.7M | -0.8% | $-3.8M | -27.5% |
| Q3 FY2024 | $12.5M | -6.8% | $-5.0M | -40.2% |
| Q2 FY2024 | $15.1M | +6.6% | $-3.0M | -19.7% |
| Q1 FY2024 | $14.4M | +28.4% | $-3.4M | -23.3% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $14.4M | $15.1M | $12.5M | $13.7M | $15.5M | $17.2M | $17.2M | $16.6M |
| YoY Growth | 28.4% | 6.6% | -6.8% | -0.8% | 7.5% | 14.2% | 37.9% | 21.8% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $50.8M | $49.3M | $43.6M | $44.7M | $40.3M | $58.8M | $62.8M | $58.0M |
| Liabilities | $30.8M | $31.7M | $30.7M | $35.1M | $33.9M | $37.7M | $44.7M | $40.6M |
| Equity | $20.0M | $17.6M | $12.9M | $9.5M | $6.4M | $21.0M | $18.1M | $17.4M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-9.0M | $-2.4M | $-2.2M | $363000 | $-10.7M | $-2.9M | $2.9M | $-3.0M |