Exagen | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 19.94 M
I'm LongbridgeAI, I can summarize articles.Revenue: As of FY2026 Q2, the actual value is USD 19.94 M, beating the estimate of USD 17.87 M.
EPS: As of FY2026 Q2, the actual value is USD -0.13, beating the estimate of USD -0.1914.
EBIT: As of FY2026 Q2, the actual value is USD -2.923 M.
Financial Performance for the Three Months Ended June 30, 2026
Gross Margin
Exagen Inc.’s gross margin for the quarter was 61.3%, an increase from 60.4% in the second quarter of 2025. The absolute gross margin was $12,217 thousand, up from $10,395 thousand in 2025.
Operating Expenses
Operating expenses totaled $13,939 thousand, an increase from $13,025 thousand in the second quarter of 2025. Selling, general and administrative expenses were $12,513 thousand, and research and development expenses were $1,426 thousand.
Operating Loss
Operating loss significantly narrowed to - $1,722 thousand, compared to an operating loss of - $2,630 thousand in the second quarter of 2025.
Net Loss
Net loss for the quarter was - $3,196 thousand, a reduction from - $4,439 thousand reported in the second quarter of 2025.
Adjusted EBITDA
Adjusted EBITDA improved to a loss of - $114 thousand, compared to a loss of - $1,721 thousand in the second quarter of 2025.
Financial Performance for the Six Months Ended June 30, 2026
Gross Margin
Gross margin for the six-month period was 60.2%, compared to 59.7% in the same period of 2025. The absolute gross margin was $22,422 thousand, up from $19,518 thousand in 2025.
Operating Expenses
Total operating expenses for the six months were $27,558 thousand, an increase from $25,513 thousand in the prior year period. Selling, general and administrative expenses were $24,579 thousand, and research and development expenses were $2,979 thousand.
Operating Loss
Operating loss for the six months was - $5,136 thousand, an improvement from - $5,995 thousand in the corresponding period of 2025.
Net Loss
Net loss for the six months ended June 30, 2026, was - $7,163 thousand, compared to - $8,191 thousand in the same period of 2025.
Adjusted EBITDA
Adjusted EBITDA for the six-month period was a loss of - $2,274 thousand, improving from a loss of - $4,229 thousand in the prior year.
Cash and Cash Equivalents
Exagen Inc. ended the quarter with $24,588 thousand in cash and cash equivalents as of June 30, 2026, compared to $30,033 thousand as of June 30, 2025.
Operational Metrics
AVISE CTD test volume grew by 11% compared to the second quarter of 2025. The AVISE CTD trailing twelve-month average selling price (ASP) expanded to $446 per test, an increase of $18 or 4% compared to the second quarter of 2025.
2026 Guidance
Exagen Inc. increased its full-year 2026 revenue guidance to a range of $72 million to $75 million. This updated guidance is higher than the previous projection of $70 million to $73 million.