Exagen ( (XGN) ) has released its Q2 earnings. Here is a breakdown of the information Exagen presented to its investors.
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Exagen Inc., based in Carlsbad, California, is a prominent player in the autoimmune diagnostics sector, specializing in innovative testing solutions for chronic autoimmune conditions such as lupus and rheumatoid arthritis.
In its latest earnings report for Q2 2025, Exagen Inc. announced a record revenue of $17.2 million, marking a 14% increase compared to the same quarter last year. The company also highlighted strategic corporate updates, including the appointment of Dr. Michael Mahler as Chief Scientific Officer and the addition of Chas McKhann to the Board of Directors.
Key financial metrics for the quarter showed a gross margin of 60.4% and a net loss of $4.4 million, compared to a net loss of $3 million in the previous year. The company successfully grew its AVISE CTD test volume by 14% from the previous quarter and increased the average selling price to $428. Additionally, Exagen strengthened its financial position with a $20.2 million public offering and a new loan credit facility.
Looking ahead, Exagen projects full-year revenue for 2025 to be between $65 million and $70 million. The company aims to achieve positive adjusted EBITDA by the fourth quarter, reflecting a positive outlook on its financial and operational strategies.