EXAGEN INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $66.6M | $55.6M | $52.5M | $45.6M | $48.3M |
| Cost of revenue | $27.8M | $22.5M | $23.1M | $24.2M | $20.6M |
| Gross profit | $38.8M | $33.1M | $29.5M | — | — |
| Selling, general & administrative | $46.6M | $41.4M | $47.4M | $52.0M | $44.5M |
| Research and development | $6.3M | $5.4M | $4.9M | $9.9M | $7.2M |
| Operating income | -$14.1M | -$13.6M | -$22.8M | -$46.1M | -$24.1M |
| Interest expense | $4.3M | $2.2M | $2.3M | $2.4M | $2.6M |
| Income tax expense | $51,000 | $12,000 | $33,000 | -$282,000 | $175,000 |
| Net income | -$20.0M | -$15.1M | -$23.7M | -$47.4M | -$26.9M |
| Balance Sheet | |||||
| Cash and equivalents | $32.2M | $22.0M | $36.5M | $62.4M | $99.4M |
| Current assets | $48.9M | $36.5M | $47.8M | $72.6M | $112.7M |
| Total assets | $58.0M | $44.7M | $56.9M | $86.2M | $123.4M |
| Current liabilities | $14.2M | $13.5M | $11.9M | $9.6M | $9.3M |
| Total liabilities | $40.6M | $35.1M | $34.2M | $43.8M | $38.5M |
| Stockholders' equity | $17.4M | $9.5M | $22.7M | $42.5M | $84.9M |
| Cash Flow Statement | |||||
| Cash from operations | -$13.6M | -$13.3M | -$14.5M | -$32.1M | -$20.3M |
| Depreciation and amortization | $2.1M | $1.7M | $2.2M | $1.6M | $900,000 |
| Stock-based compensation | $2.2M | $1.8M | $3.6M | $4.7M | $4.7M |
| Capital expenditure | $641,000 | $515,000 | $828,000 | $4.3M | $2.4M |
| Free cash flow | -$14.3M | -$13.8M | -$15.3M | -$36.5M | -$22.6M |
| Share repurchases | — | — | — | — | $12.8M |
| Impairments | — | — | $0 | $5.5M | $0 |
Shares outstanding 24.2M · Free float 62.7%
Annual filing data through FY ended December 31, 2025; float as of July 12, 2026.