secwatch.observer — SEC 8-K summary
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Issuer:     EXAGEN INC. (XGN)
CIK:        0001274737
Form:       8-K
Filed at:   2025-05-05T23:59:59+00:00
Accession:  0001274737-25-000023
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Exagen Q1 revenue record $15.5M, but net loss widens to $3.8M
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- Revenue $15.5M (+7.5% YoY); net loss $(3.8)M vs $(3.4)M; adjusted EBITDA $(2.5)M vs $(2.0)M.
- Trailing-12-month ASP rose to $419 from $377; AVISE CTD test volume grew.
- FY2025 guidance: revenue at least $65M; targeting positive adjusted EBITDA in Q4 2025.
- Closed $25M senior secured credit facility with Perceptive Advisors on April 25, 2025.
- Combined cash and AR projected ~$28M as of April 30 after releasing held claims.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1274737/000127473725000023/0001274737-25-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1274737/000127473725000023/exdx-20250505.htm
  HTML page:      https://secwatch.observer/filing/0001274737-25-000023

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