Exagen(US:XGN)2025-03-11 12:00Financial Performance - Preliminary revenue for Q4 2024 is projected between $13.3 million and $13.8 million, while full-year revenue is expected to be between $55.3 million and $55.8 million[3] - The net loss for Q4 2024 is estimated between $3.4 million and $4.4 million, with a full-year net loss projected between $14.8 million and $15.8 million[3] - Adjusted EBITDA for Q4 2024 is expected to range from ($2.2) million to ($3.2) million, with full-year adjusted EBITDA between ($9.8) million and ($10.8) million[3] - Exagen's cash, cash equivalents, and restricted cash stood at $22.2 million as of December 31, 2024[3] Product Development - Exagen received conditional approval for new systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA) biomarker assays, with a planned commercial launch in January 2025[1] - The new SLE and RA biomarkers are expected to enhance the clinical utility of the AVISE CTD platform, aiding in more accurate diagnoses[2] - Exagen tested its 1,000,000th patient with AVISE CTD in 2024, marking a significant milestone in the company's history[3] Operational Achievements - The AVISE CTD trailing twelve-month average selling price (ASP) is projected to be between $408 and $412, reflecting an improvement of $72 to $76 compared to Q4 2023[5] - The company achieved record reimbursement per test and overall revenue performance in 2024[3] - Exagen's management emphasizes that achieving profitability is now firmly within reach, supported by operational optimizations[3]