secwatch.observer — SEC 8-K summary
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Issuer:     EXAGEN INC. (XGN)
CIK:        0001274737
Form:       8-K
Filed at:   2023-08-07T23:59:59+00:00
Accession:  0001274737-23-000085
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1274737/000127473723000085/0001274737-23-000085-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1274737/000127473723000085/exdx-20230807.htm
  HTML page:      https://secwatch.observer/filing/0001274737-23-000085

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer