Exagen Q2 revenue beats on test volume growth; raises 2026 outlook

Exagen

04/08/2026 13:12

Overview
US autoimmune diagnostics firm's Q2 revenue rose 16%, beating analyst expectations
Company reduced net loss by nearly 30% and narrowed adjusted EBITDA loss to $0.1 mln
Exagen raised full-year 2026 revenue guidance

Outlook
Exagen raises 2026 revenue guidance to $72 mln-$75 mln from $70 mln-$73 mln

Result Drivers
TEST VOLUME - Co said AVISE CTD test volume grew 11% year-on-year, contributing to record revenue
HIGHER SELLING PRICE - Co said AVISE CTD trailing twelve-month ASP increased 4% year-on-year to $446 per test
OPERATING IMPROVEMENT - Co said adjusted EBITDA loss narrowed significantly, citing progress in growth and operating profile

Company press release: ID:nGNXZ9z5S

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
$19.94 mln
$17.82 mln (8 Analysts)
Q2 Net Loss
 
$3.20 mln
 
Q2 Operating Expenses
 
$13.94 mln
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the healthcare facilities & services peer group is "buy"
Wall Street's median 12-month price target for Exagen Inc. is $8.00, about 70.9% above its August 3 closing price of $4.68

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Aug 4 - Waters lifts annual forecasts on strong lab-equipment and diagnostics demand

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)