Exagen(US:XGN) Globenewswireยท2025-11-04 13:00Core Insights - Exagen Inc. reported a record revenue of $17.2 million for Q3 2025, marking a 38% increase compared to Q3 2024, or a 26% increase when excluding one-time adjustments from 2024 [8] - The company anticipates full-year revenue for 2025 to be between $65 million and $70 million, with expectations of achieving positive adjusted EBITDA in Q4 2025 [4] Financial Performance - Revenue for Q3 2025 was $17,244 thousand, compared to $12,507 thousand in Q3 2024, and for the nine months ended September 30, 2025, revenue was $49,944 thousand, up from $41,986 thousand in the same period of 2024 [2][18] - Gross margin improved to 58.4% in Q3 2025 from 55.8% in Q3 2024, and for the nine months, it was 59.3% compared to 58.7% [2] - Operating expenses increased to $13,175 thousand in Q3 2025 from $11,644 thousand in Q3 2024, and for the nine months, they rose to $38,688 thousand from $34,888 thousand [2][18] - The net loss for Q3 2025 was $7,087 thousand, compared to a net loss of $5,028 thousand in Q3 2024, with a nine-month net loss of $15,278 thousand versus $11,354 thousand in the prior year [2][18] Operational Highlights - The volume of AVISE CTD tests grew by 16% compared to Q3 2024, and the average selling price (ASP) for AVISE CTD tests increased to $441, up by $37 from Q3 2024 [8] - The company ended Q3 2025 with cash and cash equivalents of $35,652 thousand, an increase from $22,035 thousand at the end of Q3 2024 [2][18] - Exagen launched seronegative RA markers for anti-PAD4, enhancing the AVISE CTD panel, and presented six abstracts at the American College of Rheumatology Conference [8] Company Overview - Exagen Inc. is a leading provider of autoimmune diagnostics, focusing on improving clinical outcomes for patients with chronic autoimmune conditions through innovative testing solutions [13] - The company's flagship product, AVISE CTD, aids in the diagnosis of complex autoimmune diseases such as lupus and rheumatoid arthritis [13]