secwatch.observer — SEC 8-K summary
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Issuer:     EXAGEN INC. (XGN)
CIK:        0001274737
Form:       8-K
Filed at:   2024-03-18T23:59:59+00:00
Accession:  0001274737-24-000019
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1274737/000127473724000019/0001274737-24-000019-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1274737/000127473724000019/exdx-20240318.htm
  HTML page:      https://secwatch.observer/filing/0001274737-24-000019

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