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Exagen Inc (XGN)
NASDAQ:XGN
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Earnings Data
Report Date
Mar 24, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-0.26Last Year’s EPS
-0.31Same Quarter Last Year
Strong Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 25, 2020
|% Change Since: 34.34%
|Next Earnings Date:Nov 12, 2019
Earnings Call Sentiment|Neutral
The earnings call highlighted significant progress in expanding ASP and managing costs effectively, setting the stage for future growth with the launch of new biomarkers. However, it also pointed to onetime adjustments affecting revenue and margin, alongside challenges from external factors like weather disruptions. The sentiment is cautiously optimistic, with a focus on long-term growth and profitability.Company Guidance
During the Exagen Q3 2024 earnings call, the executives provided guidance with several key metrics, indicating a strategic focus on achieving cash flow positivity by the end of 2025. The company reported a total revenue of $12.5 million for the third quarter, impacted by $1.2 million in onetime adjustments. Adjusted EBITDA loss was approximately $4 million, with a goal to improve by 30% for the full year. Exagen highlighted its AVISE business, noting a testing volume in line with expectations and a trailing 12-month average selling price (ASP) increase to $404 per CTD test. The company aims for a gross margin expansion into the mid-60% range over time and plans to launch new biomarkers by year-end to drive ASP and margin growth. For 2024, Exagen projects full-year revenue of $55-$56 million, reflecting an anticipated 5% increase over 2023, with an adjusted EBITDA loss better than $12 million, marking a 30% improvement over the previous year.Revenue Growth Despite Adjustments
Third quarter revenue was reported at $12.5 million, down 7% compared to Q3 2023 due to onetime adjustments. Excluding these adjustments, the revenue was $13.7 million, showing a 2% increase over 2023. Year-to-date, revenue was $42 million, up 8% over 2023.
ASP Expansion and Financial Improvements
The AVISE ASP improved for the seventh consecutive quarter to $404 per CTD test. Comparing 2024 to 2022, revenue grew by nearly 30%, ASP expanded by 45%, and gross margins improved by over 1,300 basis points.
Successful Cost Management
Operating expenses excluding COGS were down 9% in Q3 2024 compared to 2023. Year-to-date operating expenses were down over 10% compared to 2023.
Progress in New Product Launch
Exagen is in the final stages of launching new biomarkers through the AVISE CTD platform, expected to be commercially available by year-end. The new product is projected to significantly enhance ASP and margin expansion.
Strategic Market Engagement
Five abstracts were accepted for the American College of Rheumatology meeting, enhancing the company's presence and setting the stage for the new product launch.
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XGN Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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XGN Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $2.97 | $2.79 | -6.06% |
| Aug 05, 2024 | $2.04 | $2.40 | +17.65% |
| May 13, 2024 | $1.57 | $1.64 | +4.46% |
| Mar 18, 2024 | $1.62 | $1.77 | +9.26% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Exagen Inc (XGN) report earnings?
Exagen Inc (XGN) is schdueled to report earning on Mar 24, 2025, TBA Not Confirmed.
What is Exagen Inc (XGN) earnings time?
Exagen Inc (XGN) earnings time is at Mar 24, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is XGN EPS forecast?
XGN EPS forecast for the fiscal quarter 2024 (Q4) is -0.26.
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