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Companies / Healthcare / EXAGEN INC.
XGN

EXAGEN INC.

HealthcareHealth Services
Ticker XGNVISTA, CAFiscal year ends DecemberBook value per share $0.51Diluted shares 24.0M

Exagen Inc. (NASDAQ: XGN) is a medical technology company focused on the design, development and commercialization of innovative diagnostic testing products for complex rheumatic and autoimmune diseases. The company operates through its AVISE® brand of tests, which enable differential diagnosis, prognosis and… From the company’s description.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-06-30
Sales & profitability
$66.58M
+19.7% year over year
Last 12 mo $71.12M
-21.13%
+3.4 percentage points
Last 12 mo -18.58%
$-19.95M
−32.0% year over year
Last 12 mo $-18.92M
-114.34%
+44.1 percentage points
Last 12 mo -154.90%
Cash & financing
$-13.63M
−2.6% year over year
Last 12 mo $-6.50M
$-14.27M
−3.4% year over year
Last 12 mo $-7.59M
1.49
Was 2.12× a year earlier
Last 12 mo 2.09
21.6M
+18.4% year over year
Last 12 mo 24.0M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What EXAGEN INC. does

In the company’s own words

Exagen Inc. (NASDAQ: XGN) is a medical technology company focused on the design, development and commercialization of innovative diagnostic testing products for complex rheumatic and autoimmune diseases. The company operates through its AVISE® brand of tests, which enable differential diagnosis, prognosis and monitoring of conditions including systemic lupus erythematosus (SLE), rheumatoid arthritis (RA), Sjögren's syndrome and antiphospholipid syndrome. The company's website is www.exagen.com.

The flagship product, AVISE® CTD, represents approximately 91 percent of annual revenue and provides comprehensive assessment of connective tissue diseases through proprietary biomarkers and algorithmic interpretation. The test incorporates the company's patented AVISE® Lupus platform, which uses Cell-Bound Complement Activation Products (CB-CAPs) technology to measure complement activation on circulating blood cells, offering improved sensitivity and specificity compared to conventional diagnostic methods. In 2025, the company enhanced AVISE® CTD by adding eight new biomarkers, including T-Cell Biomarkers and seronegative rheumatoid arthritis-specific markers.

The company offers ten commercialized tests under the AVISE® brand, including specialized products for disease monitoring such as AVISE® SLE Monitor, AVISE® MTX and AVISE® HCQ, as well as prognostic tests like AVISE® SLE Prognostic and AVISE® Anti-CarP. The company operates a specialized sales force of approximately 45 territories across five regions targeting the approximately 6,000 rheumatologists in the United States. The addressable market is estimated at greater than two million patients annually in the United States.

The company's research and development pipeline includes lupus nephritis biomarkers, SLE disease activity monitoring, RA disease activity assessment, kidney damage biomarkers and myositis-specific antibody panels. The company generated record revenue of $66.6 million for the year ended December 31, 2025. The company operates a Clinical Laboratory Improvement Amendments (CLIA)-certified laboratory specializing in rheumatic disease testing and maintains proprietary biorepositories containing clinically annotated patient samples to support ongoing research and product development initiatives.

Company details
Sector
Healthcare
Industry
Health Services
Headquarters
VISTA, CA
Fiscal year end
December
CIK
1274737
SIC
8071

Financial performance, year by year

Fiscal 2019–2025 · USD
$-59.24M$-23.69M$11.87M$47.42M$82.97M2019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns EXAGEN INC. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

27
funds hold it
0 of 35
superinvestors hold it
$4.60M
held by funds, at market
4.3%
of shares held by funds

Largest fund holders · EXAGEN INC.’s weight in each

VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
VANGUARD EXTENDED MARKET INDEX FUND
VXF · VANGUARD INDEX FUNDS
0.00%of fund net assets
Fidelity Extended Market Index Fund
FSMAX · Fidelity Concord Street Trust
0.00%of fund net assets
First Eagle Small Cap Opportunity Fund
FESRX · First Eagle Funds
0.01%of fund net assets
iShares Micro-Cap ETF
IWC · iShares Trust
0.02%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

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