Exagen Q4 net loss $14.4M on $5.5M goodwill impairment; Q1 revenue guidance raised to $9.2-9.7M

EXAGEN INC.

Record 135,210 AVISE CTD tests in 2022; 33,819 in Q4; cumulative ~750,000 since 2012 launch.
Q4 revenue $12.8M (+0.8% YoY); gross margin fell to 50.9% from 61.1% on inflation and mix.
Full-year 2022 net loss $47.4M vs $26.9M in 2021; operating expenses rose to $91.6M.
New CEO John Aballi joined Q4 2022; strategy focuses on reducing cash burn and reaching profitability.
Q1 2023 revenue guidance raised to $9.2-9.7M from prior $8.2-9.2M range.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXAGEN INC. reported the fourth quarter of 2022 results: revenue $12.8 million, net income $14.4 million. Guidance raised.

Period: the fourth quarter of 2022
Revenue: $12.8 million
Net income: $14.4 million
Guidance: raised
Result: reported results

Exact text from the filing

of AVISE® CTD in 2012, we have now delivered approximately 750,000 of these tests. • Total revenue of $45.6 million for the year ended December 31, 2022, and total revenue of $12.8 million for the fourth quarter of 2022. • John Aballi, President and CEO, joined the Company in the fourth quarter of 2022 and implemented a new strategy focused on reducing cash burn

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

EXAGEN INC. reported the year ended December 31, 2022 results: revenue $45.6 million, net income $47.4 million. Guidance raised.

Period: the year ended December 31, 2022
Revenue: $45.6 million
Net income: $47.4 million
Guidance: raised
Result: reported results

Exact text from the filing

including 33,819 tests for the fourth quarter of 2022. Since the launch of AVISE® CTD in 2012, we have now delivered approximately 750,000 of these tests. • Total revenue of $45.6 million for the year ended December 31, 2022, and total revenue of $12.8 million for the fourth quarter of 2022. • John Aballi, President and CEO, joined the Company in the fourth

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EXAGEN INC. filing history →

Source: SEC EDGAR

accession 0001274737-23-000017

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