Filing Flows › Exagen (XGN) › Q1 2025
Exagen (XGN) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 5, 2025
Exagen (XGN) reported revenue of $15.5M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +13% from the quarter before. Operating margin was -21.7%, net loss $3.8M (24.2% of revenue).
Exagen, Q1 2025: revenue $15.5M (+8% year over year), operating margin -21.7%, net loss $3.8M, operating cash flow −$10.7M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $15.5M | +13% | +8% |
| Operating profit | −$3.4M | — | — |
| Net earnings | −$3.8M | — | — |
| Operating cash flow | −$10.7M | -3040% | — |
What changed
Revenue was $15.5M in Q1 2025, up 8% year over year and up 13% from the previous quarter.
Gross margin was 58.9%, down 0.8 points from a year earlier. Operating costs exceeded revenue by $3.4M, an operating margin of -21.7%. Operating expenses grew 8% against revenue growth of 8%. The fastest-growing cost line was Research & development (+21%). The quarter ended with a net loss of $3.8M, narrower than the previous quarter's $3.8M loss.
Operating cash flow was −$10.7M. Non-cash charges added back $400K of depreciation and amortization and $417K of share-based compensation. Working capital and other items used $7.7M. Capital expenditures of $113K exceeded it, leaving free cash flow of −$10.8M.
Questions
What was Exagen's revenue in the first quarter 2025?
Exagen (XGN) reported revenue of $15.5M for the first quarter 2025 (Q1 2025), +8% from a year earlier and +13% from the quarter before.
Was Exagen profitable in the first quarter 2025?
Operating loss was $3.4M (-21.7% of revenue) and net loss $3.8M.
Source: Exagen 10-Q on SEC EDGAR.