Diagnostics firm Exagen's Q3 revenue slightly beats estimates on higher test volumes, prices

Overview

• Specialized diagnostics company's Q3 revenue grew 7%, a slight beat versus analyst expectations

• Company reduced net loss by 12% and improved adjusted EBITDA loss by over 30%

• Company reiterated full-year 2026 revenue guidance

Outlook

• Exagen reiterates full-year 2026 revenue guidance of $72 mln to $75 mln

• Company remains on track to launch myositis offering in early 2027

Result Drivers

• HIGHER TEST PRICING - Co said average selling price for AVISE CTD tests rose for the 14th consecutive qtr

• INCREASED TEST VOLUME - Co reported higher test volumes compared to prior yr

Company press release:

Key Details

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

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 $11.00, about 54.9% above its November 9 closing price of $7.10

Reuters Recommended Reads

• Nov 9 - Quanterix Q3 revenue rises 6.3% sequentially

• Nov 9 - Oncology firm Delcath Systems' Q3 revenue beats on Hepzato growth

• Nov 9 - Myomo Q3 revenue rises 22% to record high

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)