Exagen reports FY 2021 revenue up 15% to $48.3M; guides FY 2022 revenue $51-53M

EXAGEN INC.

Record 128,246 AVISE CTD tests in 2021; Q4 2021 test volume 34,147 (+21% YoY).
Full-year testing revenue $47.1M (+27.8% YoY); Q4 testing revenue $12.5M (+14.2% YoY).
FY 2021 net loss $26.9M vs $16.7M in 2020; cash $99.4M at year-end.
Guidance: FY 2022 revenue $51M-$53M, implying 6-10% growth over 2021.
Added Centene/WellCare coverage for 22M lives; now 91M in-network lives; acquired AVISE RADR license.

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