A Business at a Glance
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We are a medical technology company primarily focused on the design, development and commercialization of a next-generation portfolio of innovative testing products under our AVISE® brand, which allow for the differential diagnosis, prognosis and monitoring of complex rheumatic, autoimmune and autoimmune-related disease including, among others, systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). We believe our strong focus and extensive background in the field of rheumatology, combined with our commitment to exceptional customer service and support, position us well to respond to the needs of rheumatologists, primary care physicians, other specialists, and the patients they serve. Our tests are used in a variety of clinical settings to provide clarity in autoimmune disease decision-making with the goal of improving patients' clinical outcomes. We commercially launched our flagship testing product, AVISE® CTD, in 2012.
| Metric | TTM | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|---|
| Revenue | 64M | 56M | 53M | 46M | 48M | 42M |
| Net Income | -19M | -15M | -24M | -47M | -27M | -17M |
| EPS | $-0.93 | $-0.83 | $-1.34 | $-2.77 | $-1.68 | $-1.32 |
| Free Cash Flow | -11M | -14M | -15M | -36M | -23M | -15M |
| ROIC | -181.6% | -51.5% | -56.5% | -66.5% | -23.9% | -24.4% |
| Gross Margin | 98.6% | 59.5% | 56.1% | 46.9% | 57.4% | 60.6% |
| Debt/Equity | 1.26 | 2.12 | 0.86 | 0.68 | 0.32 | 0.64 |
| Dividends/Share | $0.00 | - | - | - | - | - |
| Operating Income | -12M | -14M | -23M | -46M | -24M | -15M |
| Operating Margin | -19.6% | -24.5% | -43.5% | -101.1% | -49.8% | -36.2% |
| ROE | -105.0% | -93.8% | -104.4% | -111.6% | -31.6% | -39.9% |
| Shares Outstanding | 23M | 18M | 18M | 17M | 16M | 13M |
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | |||
|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||
| Revenue | 32M | 40M | 42M | 48M | 46M | 53M | 56M | 64M |
| Gross Margin | 52.6% | 53.4% | 60.6% | 57.4% | 46.9% | 56.1% | 59.5% | 98.6% |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | -4.9M | -9.3M | -15M | -24M | -46M | -23M | -14M | -12M |
| Op. Margin | -15.0% | -23.0% | -36.2% | -49.8% | -101.1% | -43.5% | -24.5% | -19.6% |
| Net Income | N/A | -12M | -17M | -27M | -47M | -24M | -15M | -19M |
| Net Margin | N/A | -29.8% | -39.8% | -55.6% | -104.0% | -45.1% | -27.2% | -29.9% |
| Non-Recurring | 0 | 0 | 0 | 0 | 5.5M | 0 | 0 | 0 |
| Returns on Capital | ||||||||
| ROIC | N/A | -14.8% | -24.4% | -23.9% | -66.5% | -56.5% | -51.5% | -181.6% |
| ROE | N/A | -21.6% | -39.9% | -31.6% | -111.6% | -104.4% | -93.8% | -105.0% |
| ROA | N/A | -13.6% | -21.3% | -21.8% | -55.0% | -41.6% | -29.7% | -325.7% |
| Cash Flow | ||||||||
| Op. Cash Flow | -9.3M | -9.7M | -14M | -20M | -32M | -14M | -13M | -10M |
| Free Cash Flow | -9.5M | -10M | -15M | -23M | -36M | -15M | -14M | -11M |
| Owner Earnings | -10M | -11M | -17M | -26M | -38M | -20M | -17M | -14M |
| CapEx | 199K | 403K | 455K | 2.4M | 4.3M | 828K | 515K | 743K |
| Maint. CapEx | 731K | 591K | 546K | 948K | 1.6M | 2.2M | 1.7M | 1.7M |
| Growth CapEx | 0 | 0 | 0 | 1.4M | 2.8M | 0 | 0 | 0 |
| D&A | 731K | 591K | 546K | 948K | 1.6M | 2.2M | 1.7M | 1.7M |
| CapEx/OCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||||||
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 114K | 572K | 2.7M | 4.7M | 4.7M | 3.6M | 1.8M | 1.8M |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 10M | 0 | 0 |
| Balance Sheet | ||||||||
| Net Debt | 11M | -46M | -31M | -72M | -33M | -17M | -1.8M | -13M |
| Cash & Equiv. | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 36M |
| Long-Term Debt | 25M | 26M | 27M | 27M | 29M | 19M | 20M | 20M |
| Debt/Equity | -0.22 | 0.46 | 0.64 | 0.32 | 0.68 | 0.86 | 2.12 | 1.26 |
| Interest Coverage | -1.7 | -2.7 | -5.9 | -9.2 | -18.8 | -9.8 | -6.1 | -6.1 |
| Equity | -112M | 56M | 42M | 85M | 42M | 23M | 9.5M | 18M |
| Total Assets | 29M | 88M | 78M | 123M | 86M | 57M | 45M | 5.8M |
| Total Liabilities | 141M | 33M | 37M | 39M | 44M | 34M | 35M | 45M |
| Intangibles | 5.5M | 5.5M | 5.5M | 5.5M | N/A | N/A | N/A | N/A |
| Retained Earnings | -153M | -165M | -181M | -208M | -256M | -279M | -294M | -294M |
| Working Capital | 12M | 75M | 62M | 103M | 63M | 36M | 23M | 23M |
| Current Assets | 21M | 81M | 71M | 113M | 73M | 48M | 36M | 36M |
| Current Liabilities | 9.0M | 5.9M | 8.8M | 9.3M | 9.6M | 12M | 14M | 14M |
| Per Share Data | ||||||||
| EPS | -293.34 | -8.46 | -1.32 | -1.68 | -2.77 | -1.34 | -0.83 | -0.93 |
| Owner EPS | -0.80 | -0.86 | -1.37 | -1.62 | -2.24 | -1.15 | -0.92 | -0.61 |
| Book Value | -8.87 | 4.39 | 3.31 | 5.31 | 2.48 | 1.28 | 0.52 | 0.80 |
| Cash Flow/Share | -0.74 | -0.77 | -1.11 | -1.27 | -1.88 | -0.82 | -0.73 | -0.76 |
| Dividends/Share | N/A | N/A | N/A | N/A | N/A | N/A | N/A | 0.00 |
| Shares Out. | 12.6M | 12.7M | 12.6M | 16.0M | 17.1M | 17.7M | 18.2M | 22.7M |
| Valuation | ||||||||
| P/E Ratio | N/A | N/A | N/A | N/A | N/A | N/A | N/A | -3.2 |
| P/FCF | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Price/Book | N/A | 5.9 | 3.6 | 2.1 | 1.0 | 1.6 | 9.0 | 3.7 |
| Price/Sales | N/A | 5.4 | 4.6 | 4.8 | 2.2 | 0.8 | 0.8 | 1.1 |
| FCF Yield | N/A | -3.1% | -9.5% | -12.9% | -89.2% | -42.6% | -16.1% | -16.3% |
| Market Cap | N/A | 326M | 153M | 175M | 41M | 36M | 86M | 67M |
| Avg. Price | N/A | 17.36 | 15.18 | 14.50 | 5.75 | 2.42 | 2.45 | 2.97 |
| Year-End Price | N/A | 25.74 | 12.08 | 10.95 | 2.39 | 2.03 | 4.71 | 2.97 |
EXAGEN INC. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 56.1%.
EXAGEN INC. (XGN) has a 5-year average return on invested capital (ROIC) of -44.5%. This is below average and may indicate limited pricing power.
EXAGEN INC. (XGN) has a market capitalization of $67M. It is classified as a small-cap stock.
EXAGEN INC. (XGN) does not currently pay a regular dividend.
EXAGEN INC. (XGN) operates in the Services-Medical Laboratories industry, within the Healthcare sector.
EXAGEN INC. (XGN) reported annual revenue of $56 million in its most recent fiscal year, based on SEC EDGAR filings.
EXAGEN INC. (XGN) has a net profit margin of -27.2%. The company is currently unprofitable.
EXAGEN INC. (XGN) generated $-14 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
EXAGEN INC. (XGN) has a debt-to-equity ratio of 2.12. This indicates higher leverage, which may increase financial risk.
EXAGEN INC. (XGN) reported earnings per share (EPS) of $-0.83 in its most recent fiscal year.
EXAGEN INC. (XGN) has a return on equity (ROE) of -93.8%. A negative ROE may indicate losses or negative equity.
EXAGEN INC. (XGN) has a 5-year average gross margin of 56.1%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 7 years of financial data for EXAGEN INC. (XGN), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
EXAGEN INC. (XGN) has a book value per share of $0.52, based on its most recent annual SEC filing.