Quarterly ResultMay 11, 2026, 08:11 AM
Exagen Q1 Revenue $17.3M, +12%; Adjusted EBITDA Loss $2.2M
AI Summary
Exagen Inc. reported record total revenue of $17.3 million for the first quarter of 2026, representing a 12% increase year-over-year. The company also delivered an improved adjusted EBITDA loss of $2.2 million, a 14% improvement from the prior year. Key operational highlights included a 10% growth in AVISE CTD test volume and an expanded average selling price of $444 per test. Exagen reaffirmed its full-year 2026 revenue guidance of $70 million to $73 million.
Key Highlights
- Exagen achieved record total revenue of $17.3 million, an increase of 12% compared to Q1 2025.
- Adjusted EBITDA loss improved by 14% to $2.2 million compared to Q1 2025.
- AVISE CTD test volume grew 10% compared to Q1 2025.
- AVISE CTD trailing-twelve-month average selling price expanded to $444 per test, up 6%.
- Net loss for the quarter was $(3.967) million, or $(0.17) per share.
- The company ended the quarter with approximately $21.5 million in cash and cash equivalents.
- Exagen reaffirmed its full-year 2026 revenue guidance of $70 million to $73 million.