The Q1 beat and maintained guidance suggest Exagen is executing well on revenue cycle management and test volume growth. With a $71M market cap and improving fundamentals, the stock could re-rate higher if the trajectory continues. Monitor upcoming quarters for ASP expansion and path to breakeven.
Price Chart
Executive Summary
Exagen reported Q1 2026 revenue of $17.3M (+12% YoY) and GAAP EPS of -$0.17, beating consensus estimates of $16.4M and -$0.25. The company maintained full-year 2026 revenue guidance of $70M-$73M, and adjusted EBITDA loss improved 14% YoY to -$2.2M. The beat on both top and bottom lines, combined with steady guidance, signals operational momentum in autoimmune diagnostics.
Key Financial Metrics
Key Facts
- Record Q1 2026 revenue of $17.3M, up 12% YoY from $15.5M
- GAAP EPS -$0.17 vs consensus -$0.25 (20% beat)
- Revenue beat consensus $16.4M by 5.5%
- AVISE CTD test volume grew 10% YoY
- ASP improved to $444, up $25 or 6% YoY
- Adjusted EBITDA loss improved 14% YoY to -$2.2M
- Cash and equivalents $21.5M, ahead of expectations
- Full-year 2026 revenue guidance maintained at $70M-$73M
- Operating loss widened slightly to -$3.4M from -$3.4M
Financial Impact
Revenue beat of ~$0.9M (5.5%) and EPS beat of $0.08 (32%) vs consensus; market cap $71M
Risk Factors
- Still unprofitable with net loss of -$4.0M in Q1
- Cash burn continues; $21.5M cash may require future financing
- Guidance maintained, not raised, limiting upside surprise
- Dependence on reimbursement from Medicare and third-party payors
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3291824 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 20, 2026 7d ago | Insider Cluster | $7.41 | awaiting T+20 | — | $7.78 (+4.99%) |
Aug 4, 2026 12w ago | 8-K | $6.45 $7.12 | ▲ +10.39% | ▲ +11.63% | $7.78 (+20.62%) |
May 11, 2026 24w ago | 8-K | $3.98 $4.31 | ▲ +8.29% | ▲ +8.60% | $7.78 (+95.48%) |
May 11, 2026 24w ago | Press Release | $3.98 $4.31 | ▲ +8.29% | ▲ +8.60% | $7.78 (+95.48%) |
Apr 23, 2026 26w ago | 8-K | $2.70 $4.27 | ▲ +58.15% | ▲ +54.12% | $7.78 (+188.15%) |
Mar 10, 2026 33w ago | Press Release | $3.25 $3.08 | ▼ −5.23% | ▼ −5.08% | $7.78 (+139.38%) |
Feb 24, 2026 35w ago | Insider Cluster | $3.69 $2.74 | ▲ +25.75% | ▲ +20.76% | $7.78 (−110.84%) |
Feb 24, 2026 35w ago | Insider Cluster | $3.69 $2.74 | ▲ +25.75% | ▲ +20.76% | $7.78 (−110.84%) |
Feb 24, 2026 35w ago | Insider Cluster | $3.69 $2.74 | ▲ +25.75% | ▲ +20.76% | $7.78 (−110.84%) |
Feb 24, 2026 35w ago | Insider Cluster | $3.69 $2.74 | ▲ +25.75% | ▲ +20.76% | $7.78 (−110.84%) |
US Market Status
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