Exagen (NASDAQ:XGN) Releases Earnings Results, Beats Expectations By $0.07 EPS

Exagen (NASDAQ:XGN) posted its quarterly earnings results on Monday. The company reported ($0.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.07, FiscalAI reports. Exagen had a negative net margin of 29.97% and a negative return on equity of 105.03%. The company had revenue of $17.31 million during the quarter, compared to the consensus estimate of $16.41 million.

Here are the key takeaways from Exagen’s conference call:

• Company reported a record first-quarter revenue of $17.3 million (up 12% YoY) with AVISE CTD test volume up 10% and ordering clinicians up 15%, indicating expanding market adoption.
• Trailing-12-month ASP rose 6% to $444, driven by improved revenue-cycle execution including ~$900k in prior-period collections and marking the 12th consecutive quarter of ASP gains.
• Profitability metrics improved—adjusted EBITDA loss narrowed to $2.2 million (14% improvement) and gross margin was 59% with a stated objective to reach the mid-60s over time.
• Management reaffirmed full-year 2026 revenue guidance of $70M–$73M and reported a strong start to Q2, while noting first-quarter cash and restricted cash of just under $22M and seasonal AR/cash flow timing that should normalize in H2.
• Product pipeline and commercialization progress remain on track—a standalone myositis test is targeted for early 2027, scientific visibility increased (nine abstracts and two manuscripts accepted), and Pharma Services backlog exceeds $5M, creating potential longer-term revenue upside.

Exagen Trading Up 34.9%

Shares of Exagen stock opened at $3.98 on Tuesday. The company has a debt-to-equity ratio of 1.39, a current ratio of 3.45 and a quick ratio of 3.45. Exagen has a 1 year low of $2.59 and a 1 year high of $12.23. The company has a market capitalization of $96.09 million, a P/E ratio of -4.33 and a beta of 1.81. The business has a 50 day moving average price of $3.05 and a 200 day moving average price of $5.34.

Insider Activity

In related news, CEO John Aballi sold 15,698 shares of Exagen stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $3.62, for a total transaction of $56,826.76. Following the completion of the transaction, the chief executive officer directly owned 687,299 shares in the company, valued at $2,488,022.38. The trade was a 2.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 12.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Acadian Asset Management LLC acquired a new position in Exagen in the 1st quarter valued at $25,000. Truvestments Capital LLC raised its holdings in Exagen by 109.5% in the 4th quarter. Truvestments Capital LLC now owns 6,169 shares of the company’s stock valued at $38,000 after acquiring an additional 3,225 shares during the last quarter. Persistent Asset Partners Ltd acquired a new position in Exagen in the 4th quarter valued at $80,000. Jain Global LLC acquired a new position in Exagen in the 4th quarter valued at $82,000. Finally, Schonfeld Strategic Advisors LLC acquired a new position in Exagen in the 4th quarter valued at $82,000. 75.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

XGN has been the subject of a number of research reports. B. Riley Financial reiterated a “buy” rating and set a $8.00 price target (down from $18.00) on shares of Exagen in a research report on Friday, January 30th. Craig Hallum reduced their price target on shares of Exagen from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, March 11th. TD Cowen reduced their price target on shares of Exagen from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Canaccord Genuity Group reduced their price target on shares of Exagen from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Finally, William Blair reiterated an “outperform” rating on shares of Exagen in a research report on Tuesday, March 10th. Nine research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Exagen has an average rating of “Moderate Buy” and a consensus price target of $9.38.

About Exagen

Exagen Inc is a molecular diagnostics company focused on improving the detection and management of autoimmune diseases. Headquartered in the United States, the company develops, manufactures and markets laboratory tests designed to help clinicians address diagnostic challenges associated with complex connective tissue disorders.

The company’s flagship product portfolio, marketed under the Avise® brand, includes multi-analyte assays such as the Avise® Connective Tissue Disease (CTD) panel, Avise® Lupus panel and Avise® Sjögren’s panel.