Exagen Inc. income statement
In fiscal 2025, Exagen Inc. reported revenue of $66.6m, up 19.7% on the year before, operating income of −$14.1m (a -21.1% margin) and net income of −$20.0m, or −$0.93 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2018Dec 2018 | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | 32 | 40 | 42 | 48 | 46 | 53 | 56 | 67 | 71 |
| Cost of revenue | 15 | 19 | 17 | 21 | 24 | 23 | 23 | 28 | 29 |
| Gross profit | 17 | 22 | 25 | 28 | 21 | 29 | 33 | 39 | 42 |
| Research and development | 2 | 2 | 4 | 7 | 10 | 5 | 5 | 6 | 6 |
| Selling, general and administrative | 20 | 29 | 37 | 45 | 52 | 47 | 41 | 47 | 48 |
| Operating income | −5 | −9 | −15 | −24 | −46 | −23 | −14 | −14 | −13 |
| Interest expense | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 4 | 5 |
| Income tax | 0 | 0 | −0 | 0 | −0 | 0 | 0 | 0 | 0 |
| Net income | −8 | −12 | −17 | −27 | −47 | −24 | −15 | −20 | −19 |
| Diluted EPS | −$293.34 | −$8.46 | −$1.32 | −$1.68 | −$2.77 | −$1.34 | −$0.83 | −$0.93 | −$0.80 |
| Diluted shares (average) | — | 4m | 13m | 16m | 17m | 18m | 18m | 22m | 24m |
| EBITDA | −4 | −9 | −15 | −23 | −44 | −21 | −12 | −12 | −11 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13 | 14 | 15 | 17 | 17 | 17 | 17 | 20 |
| Cost of revenue | 6 | 5 | 6 | 7 | 7 | 7 | 7 | 8 |
| Gross profit | 7 | 8 | 9 | 10 | 10 | 9 | 10 | 12 |
| Research and development | 1 | 2 | 1 | 1 | 2 | 2 | 2 | 1 |
| Selling, general and administrative | 10 | 10 | 11 | 12 | 11 | 12 | 12 | 13 |
| Operating income | −5 | −3 | −3 | −3 | −3 | −5 | −3 | −2 |
| Interest expense | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net income | −5 | −4 | −4 | −4 | −7 | −5 | −4 | −3 |
| Diluted EPS | −$0.28 | −$0.20 | −$0.20 | −$0.21 | −$0.31 | −$0.20 | −$0.17 | −$0.13 |
| EBITDA | −4 | −3 | −3 | −2 | −3 | −4 | −3 | −1 |
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