Exagen Q2 revenue $14.1M, record AVISE CTD tests; net loss narrows to $5.0M

EXAGEN INC.

2023-Q2 EPS reported -$0.72 revenue$25,367,000

Revenue $14.1M, up 26% QoQ from $11.2M (Q1 2023) and up from $7.6M (Q2 2022).
Record 37,749 AVISE CTD tests (+8% YoY); trailing 12-month ASP $320.
Gross margin 58.7% (Q2 2023) vs 20.1% (Q2 2022); net loss $5.0M vs $14.7M loss a year ago.
Q3 2023 revenue guidance $10M-$10.5M; cash $31.5M as of June 30, 2023.
Operating expenses $19.1M, down from $21.7M due to December 2022 headcount reduction.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EXAGEN INC. reported quarter ended June 30, 2023 results: revenue $14.1 million. Guidance initiated.

Period: quarter ended June 30, 2023
Revenue: $14.1 million
Guidance: initiated
Result: reported results

Exact text from the filing

Second Quarter Highlights: • Delivered a record 37,749 AVISE® CTD tests in the second quarter, an 8% increase over the second quarter of 2022. • Recognized total revenue of $14.1 million for the second quarter, a 26% increase over the first quarter of 2023. • Achieved gross margin of 54% in the six months ended June 30, 2023. • AVISE® CTD trailing twelve-month

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

EXAGEN INC. reported financial results for six months ended June 30, 2023.

Period: six months ended June 30, 2023
Result: reported results

Exact text from the filing

On August 7, 2023 , the Company reported its financial results for the three and six months ended June 30, 2023.

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EXAGEN INC. filing history →

Source: SEC EDGAR

accession 0001274737-23-000085

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