Exagen(US:XGN) Globenewswireยท2025-07-29 12:00Core Insights - Exagen Inc. reported a record revenue of $17.2 million for Q2 2025, reflecting an 11% increase from Q1 2025 and a 14% increase from Q2 2024 [7] - The company expects full-year revenue for 2025 to be between $65 million and $70 million, with a potential for positive adjusted EBITDA in Q4 2025 [4] Financial Performance - Revenue for Q2 2025 was $17,202 thousand, compared to $15,064 thousand in Q2 2024, marking a year-over-year growth [2] - Gross margin for Q2 2025 was 60.4%, slightly up from 60.1% in Q2 2024 [2] - Operating expenses increased to $13,025 thousand in Q2 2025 from $11,643 thousand in Q2 2024 [2] - The net loss for Q2 2025 was $4,439 thousand, compared to a net loss of $2,966 thousand in Q2 2024 [2] Operational Highlights - The volume of AVISE CTD tests grew by 14% compared to Q1 2025 and by 7% compared to Q2 2024 [7] - The average selling price (ASP) for AVISE CTD tests increased to $428, up by $27 from Q2 2024 [7] - The company strengthened its balance sheet with a $20.2 million public offering and a new loan credit facility, ending Q2 2025 with cash and equivalents of $30.2 million [7] Corporate Developments - Dr. Michael Mahler was appointed as Chief Scientific Officer, bringing over 20 years of experience in autoimmune diagnostic research [7] - Chas McKhann joined the Board of Directors, contributing 25 years of experience in the life sciences sector [7]