XGN on Nasdaq

Exagen Inc.

Logo: Exagen Inc., CC BY-SA 4.0, via Wikimedia Commons4

Clinical laboratory company.1

Price unavailable

Last updated Oct 19, 2026.

Overview

2002Founded1

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  • TickerXGN on Nasdaq1
  • IndustryMedical Laboratories, life sciences1
  • HeadquartersVista1
  • Websiteexagen.com
  • Legal formpublic company1
  • Incorporated inDE5
  • Business address1261 Liberty Way, Vista, Ca 920815
  • Filer categoryNon-accelerated filer, Smaller reporting company5
  • LEI549300JV2CYDOME5OO173
  • StatusActive3
  • LEI statusLapsed (not renewed)3
  • Registered addressC/O The Corporation Trust Company, 19801 Wilmington, United States3
  • Registered withDivision of Corporations, Department of State, 37285713

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We are a medical technology company primarily focused on the design, development and commercialization of a next-generation portfolio of innovative testing products under our AVISE ® brand, which allow for the differential diagnosis, prognosis and monitoring of complex rheumatic, autoimmune and autoimmune-related disease including, among others, systemic lupus erythematosus (SLE) and rheumatoid arthritis (RA). We believe our strong focus and extensive background in the field of rheumatology, combined with our commitment to exceptional customer service and support, position us well to respond to the needs of rheumatologists, primary care physicians, other specialists, and the patients they serve.6 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

58.3%Gross margin7
-21.1%Operating margin7
-30.0%Net margin7
19.7%Revenue growth, 20257
-114.3%Return on equity7
1.28×Debt to equity7
-$14.3MFree cash flow7

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue34¢$27.8M
  • Research and development8¢$6.3M
  • Selling, general and admin58¢$46.6M
  • Income tax0¢$51.0K

Out of $66.6M in revenue.7 The company lost money this year.

Financial statements

Revenue891011127$66.6M in 2025+65% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $40.4M$40.4M20192020: $42.0M$42.0M2020+4%2021: $48.3M$48.3M2021+15%2022: $45.6M$45.6M2022−6%2023: $52.5M$52.5M2023+15%2024: $55.6M$55.6M2024+6%2025: $66.6M$66.6M2025+20%
Gross profit127$38.8M in 2025+32% since 2023
0$10.0M$20.0M$30.0M$40.0M2023: $29.5M$29.5M20232024: $33.1M$33.1M2024+12%2025: $38.8M$38.8M2025+17%
Operating income891011127-$14.1M in 2025+51% since 2019
-$60.0M-$40.0M-$20.0M02019: -$9.3M-$9.3M20192020: -$15.2M-$15.2M2020+63%2021: -$24.1M-$24.1M2021+58%2022: -$46.1M-$46.1M2022+91%2023: -$22.8M-$22.8M2023−50%2024: -$13.6M-$13.6M2024−40%2025: -$14.1M-$14.1M2025+3%
Net income891011127-$20.0M in 2025+66% since 2019
-$60.0M-$40.0M-$20.0M02019: -$12.0M-$12.0M20192020: -$16.7M-$16.7M2020+39%2021: -$26.9M-$26.9M2021+61%2022: -$47.4M-$47.4M2022+76%2023: -$23.7M-$23.7M2023−50%2024: -$15.1M-$15.1M2024−36%2025: -$20.0M-$20.0M2025+32%

Every line of the income statement as filed: the last 2 fiscal years, latest first.7

Period ending2025-12-312024-12-31
Revenue$66.6M$55.6M
Cost of revenue$27.8M$22.5M
Gross profit$38.8M$33.1M
Selling, general and administrative expenses$46.6M$41.4M
Research and development expenses$6.3M$5.4M
Total operating expenses$52.9M$46.7M
Loss from operations-$14.1M-$13.6M
Interest expense-$4.3M-$2.2M
Loss on extinguishment of debt-$295.0K$0
Change in fair value of warrant liability-$1.5M$0
Interest income$289.0K$767.0K
Loss before income taxes-$19.9M-$15.1M
Income tax expense-$51.0K-$12.0K
Net loss-$20.0M-$15.1M
Net loss per share, basic (in dollars per share)-$0.93-$0.83
Net loss per share, diluted (in dollars per share)-$0.93-$0.83
Weighted-average number of shares used to compute net loss per share, basic (in shares)21.6M shares18.2M shares
Weighted-average number of shares used to compute net loss per share, diluted (in shares)21.6M shares18.2M shares

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Leadership

Who has led Exagen Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Fortunato R. Rocca2019–2022
  2. John Aballi2022–now

Chair

  1. Tina Susan Nova2023

President

  1. Fortunato R. Rocca2019–2022
  2. John Aballi2022–now

Chief financial officer

  1. Kamal Adawi2019–2024
  2. Jeffrey G. Black2024–now
20052010201520202025
Board members and other officers (17)

Former names

  • EXAGEN DIAGNOSTICS INCDec 29, 2003 to May 18, 20175

Timeline

  1. Oct 18, 2022New chief executive John Aballi becomes CEO1
  2. Sep 19, 2019Went public Listed on NASDAQ1
  3. Sep 18, 2019New chief executive Fortunato R. Rocca becomes CEO16
  4. 2002Founded Founded1

Filings

224 filings to the SEC since October 2021: 5 annual reports, 16 quarterly reports, 51 major events, 79 insider forms, 36 large holders, 37 other. The latest 20:

  1. Sep 2, 20264 EDGAR
  2. Aug 24, 20264/A EDGAR
  3. Aug 19, 20264 EDGAR
  4. Aug 19, 20264 EDGAR
  5. Aug 4, 202610-Q EDGAR
  6. Aug 4, 20268-K 10-Q EDGAR
  7. Jun 22, 20264 EDGAR
  8. Jun 22, 20264 EDGAR
  9. Jun 22, 20264 EDGAR
  10. Jun 9, 20268-K EDGAR
  11. May 27, 2026SCHEDULE 13G EDGAR
  12. May 20, 2026SCHEDULE 13G/A EDGAR
  13. May 12, 2026S-8 EDGAR
  14. May 11, 202610-Q EDGAR
  15. May 11, 20268-K EDGAR
  16. Apr 27, 2026ARS EDGAR
  17. Apr 27, 2026DEFA14A EDGAR
  18. Apr 27, 2026DEF 14A EDGAR
  19. Apr 23, 20268-K EDGAR
  20. Apr 21, 20263/A EDGAR

The 224 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

20 open-market trades by officers, directors and large owners since October 2021: 5 buys and 15 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 1, 2026Black Jeffrey G.Chief Financial OfficerSale20,614$7.22$148.8KForm 4
Mar 3, 2026ABALLI JOHNPresident and CEOSale15,698$3.62$56.8KForm 4
Feb 24, 2026ABALLI JOHNPresident and CEOSale11,430$3.61$41.3KForm 4
Feb 24, 2026Black Jeffrey G.Chief Financial OfficerSale1,584$3.61$5.7KForm 4
Oct 16, 2025ABALLI JOHNPresident and CEOSale31,787$11.82$375.7KForm 4
Sep 2, 2025Black Jeffrey G.Chief Financial OfficerSale20,466$9.79$200.4KForm 4
Mar 25, 2025NMSIC Co-Investment Fund, L.P.10% ownerSale350,000$3.30$1.2MForm 4
Nov 20, 2024Sun Mountain Capital Partners LLC10% ownerSale200,000$3.30$660.0KForm 4
Nov 15, 2024Black Jeffrey G.Chief Financial OfficerBuy22,298$2.98$66.4KForm 4
Nov 14, 2024ABALLI JOHNPresident and CEOBuy24,305$2.81$68.3KForm 4
May 16, 2024ABALLI JOHNPresident and CEOBuy40,401$1.92$77.6KForm 4
Mar 4, 2024Adawi KamalCFO and Corporate SecretarySale12,784$1.91$24.4KForm 4
Feb 6, 2024Adawi KamalCFO and Corporate SecretarySale6,738$1.95$13.1KForm 4
Oct 17, 2023ABALLI JOHNPresident and CEOSale33,819$1.75$59.2KForm 4
Jun 15, 2023TULLIS GROWTH FUND II, L.P.10% ownerBuy167$3.11$519Form 4
Mar 2, 2023Adawi KamalCFO and Corporate SecretarySale3,667$2.30$8.4KForm 4
Mar 2, 2023Hazeltine MarkChief Business OfficerSale3,667Form 4
Feb 8, 2023Hazeltine MarkChief Business OfficerSale5,821$2.69$15.7KForm 4
Feb 8, 2023Adawi KamalCFO and Corporate SecretarySale5,821$2.69$15.7KForm 4
Dec 8, 2022ABALLI JOHNPresident and CEOBuy90,000$2.68$241.2KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 57. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Wexford Capital LP792,855$3.7M0.5%No change
Nano Cap New Millennium Growth Fund L P675,000$3.1M2.4%+90,000
First Eagle Investment Management, LLC613,930$2.9M0.0%+488,688
Vanguard Capital Management LLC612,832$2.8M0.0%−65,820
FourWorld Capital Management LLC596,528$2.8M3.2%+156,578
Silvercrest Asset Management Group LLC514,761$2.4M0.0%−23,109
Kennedy Capital Management LLC485,048$2.3M0.0%−8,612
Mink Brook Asset Management LLC475,944$2.2M1.0%+106,917
Jane Street Group, LLC322,502$1.5M0.0%+85,767
Marshall Wace, Llp306,703$1.4M0.0%+279,414
Flputnam Investment Management Co288,810$1.3M0.0%New
Rtw Investments, LP195,000$906.8K0.0%−200,231
Geode Capital Management, LLC185,654$863.9K0.0%+6,797
Man Group plc167,292$777.9K0.0%+37,582
BlackRock, Inc.142,625$663.2K0.0%+16,739
Perceptive Advisors LLC114,893$534.3K0.0%No change
XTX Topco Ltd111,948$520.6K0.0%−130,337
Sei Investments Co109,005$506.9K0.0%−135,235
Squarepoint Ops LLC108,993$506.8K0.0%−179,832
Vanguard Fiduciary Trust Co108,649$505.2K0.0%+11,350
Gwn Securities Inc.78,034$362.9K0.1%New
State Street Corp71,256$331.3K0.0%No change
Dimensional Fund Advisors LP62,571$291.0K0.0%No change
Two Sigma Investments, LP59,992$279.0K0.0%−97,829
Perkins Capital Management Inc56,796$264.1K0.2%−15,000

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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