XGN EXAGEN INC.
Price Chart
Executive Summary
Exagen reported Q1 2026 revenue of $17.3M, a 12% YoY increase and above the $16.4M consensus, with GAAP EPS of -$0.17 beating the -$0.24 consensus estimate. The company maintained its full-year 2026 revenue guidance of $70M-$73M, and while still unprofitable, adjusted EBITDA loss improved 14% YoY to -$2.2M. The beat on both top and bottom lines against a low bar is positive, but continued losses and unchanged guidance keep the outlook measured.
Key Financial Metrics
Actionable Insight
The Q1 beat on both revenue and EPS vs low expectations, combined with 12% revenue growth and improving adjusted EBITDA, supports a positive near-term bias. However, with cash burn continuing and guidance unchanged, the stock may need to see a path to profitability or a guidance raise to sustain momentum. Monitor the Q2 report for any acceleration in volume growth or margin expansion.
Key Facts
- Record Q1 2026 revenue of $17.3M, up 12% YoY from $15.5M
- GAAP EPS of -$0.17 beat consensus of -$0.24 by 29%
- Revenue of $17.3M beat consensus of $16.4M by 5.5%
- AVISE CTD test volume grew 10% YoY; trailing 12-month ASP rose 6% to $444
- Adjusted EBITDA loss improved 14% YoY to -$2.2M
- Full-year 2026 revenue guidance maintained at $70M-$73M (unchanged from prior guidance)
- Cash and equivalents of $21.5M, down from $32.2M at year-end 2025
Financial Impact
Revenue beat of ~$0.9M vs consensus; EPS beat of $0.07/share
Risk Factors
- Cash burn continues; cash fell from $32.2M to $21.5M in the quarter
- Full-year guidance unchanged at $70M-$73M implies deceleration in H2 2026
- Still deeply unprofitable with GAAP net loss of -$4.0M in Q1
- Dependence on reimbursement and coverage decisions from Medicare and third-party payors
Market Snapshot
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001274737-26-000027 |
| Exhibit: exdx-20260511.htm | 0001274737-26-000027 |
| Document: 0001274737-26-000027-index-headers.html | 0001274737-26-000027 |
| Document: 0001274737-26-000027-index.html | 0001274737-26-000027 |
| Document: 0001274737-26-000027.txt | 0001274737-26-000027 |
| 8-K Data (Synthetic) | 0001274737-26-000027 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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May 11, 2026
4w ago
|
8-K
| $3.98 $3.49 | ▼ −12.31% | ▼ −12.23% | $4.67 (+17.34%) |
|
May 11, 2026
4w ago
|
Press Release
| $3.98 $3.49 | ▼ −12.31% | ▼ −12.23% | $4.67 (+17.34%) |
|
Apr 23, 2026
7w ago
|
8-K
| $2.70 $2.90 | ▲ +7.41% | ▲ +6.50% | $4.67 (+72.96%) |
|
Mar 10, 2026
13w ago
|
Press Release
| $3.25 $3.17 | ▼ −2.46% | ▼ −1.56% | $4.67 (+43.69%) |
|
Feb 24, 2026
15w ago
|
Insider Cluster
| $3.69 $3.43 | ▲ +7.05% | ▲ +6.02% | $4.67 (−26.56%) |
|
Feb 24, 2026
15w ago
|
Insider Cluster
| $3.69 $3.43 | ▲ +7.05% | ▲ +6.02% | $4.67 (−26.56%) |
|
Feb 24, 2026
15w ago
|
Insider Cluster
| $3.69 $3.43 | ▲ +7.05% | ▲ +6.02% | $4.67 (−26.56%) |
|
Feb 24, 2026
15w ago
|
Insider Cluster
| $3.69 $3.43 | ▲ +7.05% | ▲ +6.02% | $4.67 (−26.56%) |
US Market Status
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