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

By Reuters News


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

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Slight Beat*

$18.42 mln

$18.34 mln (7 Analysts)

Q3 Loss Per Share

$0.25

Q3 Net Loss

$6.34 mln

Q3 Operating Expenses

$15.24 mln

*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.)

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