Exagen reports record FY2023 revenue of $52.5M; net loss narrows to $23.7M

EXAGEN INC.

Record full-year revenue $52.5M (+10% YoY); Q4 revenue $13.8M (+8% YoY)
Record 137,650 AVISE CTD tests performed in 2023; trailing 12-month ASP rose to $336
Gross margin improved to 56% for FY2023 (59% Q4) from 44% in FY2022
Net loss $23.7M for FY2023 vs $35.1M in FY2022; adjusted EBITDA -$17.1M vs -$29.1M
Cash balance $36.5M at year-end; management cites progress toward profitability

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

EXAGEN INC. reported the quarter and year ended December 31, 2023 results: revenue $13.8 million for the fourth quarter of 2023, net income $5.6 million for the fourth quarter of 2023.

Period: the quarter and year ended December 31, 2023
Revenue: $13.8 million for the fourth quarter of 2023
Net income: $5.6 million for the fourth quarter of 2023
Result: reported results

Exact text from the filing

On March 18, 2024 , the Company reported its financial results for the quarter and year ended December 31, 2023.

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Source: SEC EDGAR

accession 0001274737-24-000019

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