---
schema_version: "secwatch.filing_event.v1"
accession: "0001274737-23-000017"
form_type: "8-K"
ticker: "XGN"
cik: "0001274737"
company_name: "EXAGEN INC."
filed_at: "2023-03-20T23:59:59+00:00"
generated_at: "2026-06-17T22:52:13.049279+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001274737-23-000017
- form_type: 8-K
- ticker: XGN
- cik: 0001274737
- company_name: EXAGEN INC.
- filed_at: 2023-03-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000017/0001274737-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000017/exdx-20230320.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001274737-23-000017
- JSON: https://secwatch.observer/filing/0001274737-23-000017.json
- Plain text: https://secwatch.observer/filing/0001274737-23-000017.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000017/0001274737-23-000017-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1274737/000127473723000017/0001274737-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.