XGN · Exagen Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $17.31M | - | $17.24M | $17.20M | $15.50M | - | $12.51M | $15.06M | $14.41M | - |
| Cost of Revenue | $7.10M | - | $7.17M | $6.81M | $6.38M | - | $5.53M | $6.01M | $5.82M | - |
| Gross Profit | $10.21M | - | $6.98M | $10.39M | $8.60M | - | $6.98M | $9.06M | $8.60M | - |
| R&D | $1.55M | - | $1.73M | $1.48M | $1.28M | - | $1.48M | $1.18M | $1.06M | - |
| SG&A | $12.07M | - | $11.45M | $11.54M | $11.20M | - | $10.16M | $10.46M | $10.54M | - |
| Total Operating Expenses | $13.62M | - | $13.18M | $13.03M | $12.49M | - | $17.17M | $17.65M | $17.42M | - |
| D&A | $600.0K | - | $600.0K | $500.0K | $400.0K | - | $400.0K | $400.0K | $500.0K | - |
| Operating Income | ($3.41M) | - | ($3.10M) | ($2.63M) | ($3.37M) | - | ($4.66M) | ($2.59M) | ($3.00M) | - |
| Interest Expense | $1.27M | - | $1.32M | $1.12M | $549.0K | - | $557.0K | $574.0K | $549.0K | - |
| Income Tax | $36.0K | - | $0 | $0 | - | - | - | - | - | - |
| Net Income | ($3.97M) | - | ($7.09M) | ($4.44M) | ($3.75M) | - | ($5.03M) | ($2.97M) | ($3.36M) | - |
| EPS - Basic | ($0.17) | - | ($0.31) | ($0.21) | ($0.20) | - | ($0.28) | ($0.16) | ($0.19) | - |
| EPS - Diluted | ($0.17) | - | ($0.31) | ($0.21) | ($0.20) | - | ($0.28) | ($0.16) | ($0.19) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $21.51M | $32.22M | $35.65M | $30.03M | $11.19M | $22.04M | $22.04M | $24.48M | $27.27M | $36.49M |
| Accounts Receivable | $15.77M | $10.86M | $11.09M | $14.27M | $14.73M | $7.83M | $9.39M | $11.70M | $10.90M | $6.55M |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $4.16M | $4.15M | $3.56M | $2.51M | $4.51M | $4.14M | $1.10M | $2.33M | $1.47M | $3.13M |
| Current Assets | $43.58M | $48.89M | $52.59M | $50.99M | $32.51M | $36.45M | $35.56M | $40.79M | $42.40M | $47.84M |
| Total Assets | $51.96M | $58.02M | $62.82M | $58.76M | $40.29M | $44.69M | $43.60M | $49.31M | $50.81M | $56.94M |
| Current Liabilities | $12.56M | $14.16M | $12.89M | $10.29M | $13.99M | $13.51M | $8.78M | $9.45M | $8.78M | $11.90M |
| Long-term Debt | $22.29M | $22.26M | $22.26M | $22.31M | $18.41M | $19.82M | $19.82M | $19.83M | $19.27M | $19.23M |
| Total Liabilities | $37.52M | $40.57M | $44.69M | $37.73M | $33.89M | $35.15M | $30.74M | $31.72M | $30.82M | $34.25M |
| Stockholders' Equity | $14.43M | $17.45M | $18.14M | $21.03M | $6.40M | $9.54M | $12.87M | $17.59M | $19.99M | $22.69M |
| Retained Earnings | ($318.25M) | ($314.28M) | ($309.61M) | ($302.52M) | ($298.08M) | ($294.33M) | ($290.57M) | ($285.54M) | ($282.58M) | ($279.22M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($10.42M) | - | - | - | ($10.67M) | - | - | - | ($9.04M) | - |
| Investing Cash Flow | ($228.0K) | - | - | - | ($107.0K) | - | - | - | ($86.0K) | - |
| Financing Cash Flow | ($62.0K) | - | - | - | ($64.0K) | - | - | - | ($100.0K) | - |
| CapEx | $228.0K | - | - | - | $113.0K | - | - | - | $86.0K | - |
| Free Cash Flow | ($10.64M) | - | - | - | ($10.78M) | - | - | - | ($9.13M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 59.0% | - | 40.5% | 60.4% | 55.5% | - | 55.8% | 60.1% | 59.6% | - |
| Operating margin | -19.7% | - | -18.0% | -15.3% | -21.7% | - | -37.3% | -17.2% | -20.8% | - |
| EBITDA margin | -16.3% | - | -14.5% | -12.4% | -19.1% | - | -34.1% | -14.5% | -17.4% | - |
| Net margin | -22.9% | - | -41.1% | -25.8% | -24.2% | - | -40.2% | -19.7% | -23.3% | - |
| Free cash flow margin | -61.5% | - | - | - | -69.6% | - | - | - | -63.3% | - |
| FCF / Net income | 2.68 | - | - | - | 2.87 | - | - | - | 2.72 | - |
| R&D / Revenue | 9.0% | - | 10.0% | 8.6% | 8.3% | - | 11.8% | 7.8% | 7.3% | - |
| SG&A / Revenue | 69.7% | - | 66.4% | 67.1% | 72.3% | - | 81.3% | 69.5% | 73.1% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -7.6% | - | -11.3% | -7.6% | -9.3% | - | -11.5% | -6.0% | -6.6% | - |
| Return on equity | -27.5% | - | -39.1% | -21.1% | -58.6% | - | -39.1% | -16.9% | -16.8% | - |
| Return on invested capital | -7.3% | - | -6.1% | -4.8% | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 3.47 | 3.45 | 4.08 | 4.95 | 2.32 | 2.70 | 4.05 | 4.32 | 4.83 | 4.02 |
| Quick ratio | 3.47 | 3.45 | 4.08 | 4.95 | 2.32 | 2.70 | 4.05 | 4.32 | 4.83 | 4.02 |
| Cash ratio | 1.71 | 2.28 | 2.77 | 2.92 | 0.80 | 1.63 | 2.51 | 2.59 | 3.10 | 3.07 |
| Leverage | ||||||||||
| Debt / Equity | 1.54 | 1.28 | 1.23 | 1.06 | 2.87 | 2.08 | 1.54 | 1.13 | 0.96 | 0.85 |
| Debt / Assets | 0.43 | 0.38 | 0.35 | 0.38 | 0.46 | 0.44 | 0.45 | 0.40 | 0.38 | 0.34 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -2.7x | - | -2.4x | -2.3x | -6.1x | - | -8.4x | -4.5x | -5.5x | - |
| Equity multiplier | 3.60 | 3.33 | 3.46 | 2.79 | 6.29 | 4.68 | 3.39 | 2.80 | 2.54 | 2.51 |
| Liabilities / Assets | 0.72 | 0.70 | 0.71 | 0.64 | 0.84 | 0.79 | 0.70 | 0.64 | 0.61 | 0.60 |
| Efficiency | ||||||||||
| Asset turnover | 0.33 | - | 0.27 | 0.29 | 0.38 | - | 0.29 | 0.31 | 0.28 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | 333d | - | 235d | 303d | 347d | - | 274d | 284d | 276d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | 214d | - | 181d | 135d | 258d | - | 73d | 142d | 92d | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 5.0x | - | 13.9x | 7.0x | 10.4x | - | 4.4x | 1.9x | 1.4x | - |
| P / S | 4.1x | - | 14.6x | 8.6x | 4.3x | - | 4.5x | 2.2x | 2.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 11.7% | - | 37.9% | 14.2% | 7.5% | - | -6.8% | 6.6% | 28.4% | - |
| Revenue CAGR (3y) | 15.5% | - | 5.4% | 24.3% | 14.2% | - | 0.7% | 5.7% | 10.8% | - |
| Revenue CAGR (5y) | 10.3% | - | 9.9% | 10.4% | 10.1% | - | 8.7% | - | - | - |
| Gross profit growth (YoY) | 18.7% | - | 0.0% | 14.8% | 0.0% | - | -9.4% | 9.1% | 62.1% | - |
| Operating income growth (YoY) | -1.5% | - | 33.5% | -1.7% | -12.1% | - | 8.0% | 47.4% | 61.0% | - |
| Net income growth (YoY) | -5.7% | - | -41.0% | -49.7% | -11.7% | - | 7.1% | 40.8% | 56.3% | - |
| EPS growth (YoY) | 15.0% | - | -10.7% | -31.2% | -5.3% | - | 9.7% | 42.9% | 56.8% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 1.3% | - | - | - | -18.2% | - | - | - | 10.0% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | 125.4% | 82.9% | 41.0% | 19.6% | -68.0% | -58.0% | -53.2% | -44.9% | -44.4% | -46.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Business segments
$66.58M totalReportable Segment$66.58M · 100.0%
Peer comparison
Same SIC group: Services-Medical Laboratories
Comparing EXAGEN INC. against the 5 most active filers in the same SIC group.