Exagen Inc.
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Exagen Inc. - overview
Established
2002
Location
Vista, CA, US
Primary Industry
Healthcare
About
Exagen Inc. , based in the US, specializes in advanced diagnostic solutions for autoimmune diseases, providing healthcare professionals with proprietary testing platforms that enhance patient care and diagnosis efficiency. Exagen Inc. is a diagnostic company that focuses on developing tests for autoimmune diseases.
Founded in 2002 and headquartered in Vista, California, the company has undergone strategic pivots to enhance its product offerings. Greg Ruthenbeck leads the company as CEO. Exagen has raised a total of USD 69. 10 mn, with the most recent funding round being a PIPE on March 22, 2021, amounting to USD 69.
10 mn. Exagen Inc. specializes in advanced diagnostic solutions for autoimmune diseases through its proprietary AVISE testing platform. The platform offers tests like the AVISE CTD SLE & Connective Tissue Disease Test, empowering physicians to diagnose and monitor conditions such as Systemic Lupus Erythematosus (SLE) and Antiphospholipid Syndrome (APS).
The products primarily target healthcare professionals in the US and select international markets, facilitating precise and timely treatment strategies for patients. In the most recent fiscal year, 2024, Exagen generated revenue of USD 55. 64 mn, with an EBITDA of USD -13. 64 mn.
The company earns revenue through laboratory testing services offered on a fee-for-service basis, where healthcare providers utilize AVISE tests for the diagnosis and management of autoimmune disorders. Exagen Inc. is focused on expanding its product line and market reach. The company plans to introduce new diagnostic tests designed for additional autoimmune conditions, with specific releases targeted for late 2024.
Furthermore, Exagen aims to penetrate new geographic markets, particularly in Europe and Asia, by 2025. Recent funding from the PIPE will support these growth initiatives, enhancing its capacity for product development and market expansion.
Current Investors
Tullis Health Investors, Sun Mountain Capital, Cottonwood Technology Fund
Primary Industry
Healthcare
Sub Industries
Diagnostic, Medical & Imaging Laboratories
Website
www.exagen.com
Company Stage
Mature
Total Amount Raised
Subscriber access only
Exagen Inc. - timeline of key events
Exagen Inc. - financials
| Fiscal Year Ended | Dec 31, 2017 | Dec 31, 2018 | Dec 31, 2019 | Dec 31, 2020 | Dec 31, 2021 | Dec 31, 2022 | Dec 31, 2023 | Dec 31, 2024 | Dec 31, 2025 |
|---|---|---|---|---|---|---|---|---|---|
| Revenue (USD) | 26,800,000 | 32,400,000 | 40,387,000 | 41,975,000 | 48,299,000 | 45,563,000 | - | - | - |
| % Revenue Growth (YoY) | - | 20.9% | 24.7% | 3.9% | 15.1% | (5.7%) | - | - | - |
| EBITDA (USD) | (22,600,000) | (4,400,000) | (8,017,000) | (14,365,000) | (22,840,000) | (44,333,000) | - | - | - |
| Operating Income (USD) | (23,200,000) | (5,100,000) | (9,299,000) | (15,185,000) | (24,067,000) | (46,051,000) | - | - | - |
| Operating Margin | (86.6%) | (15.7%) | (23.0%) | (36.2%) | (49.8%) | (101.1%) | - | - | - |
| % EBITDA Margin | (84.3%) | (13.6%) | (19.9%) | (34.2%) | (47.3%) | (97.3%) | - | - | - |
| NET Income (USD) | (25,600,000) | (8,000,000) | (12,038,000) | (16,687,000) | (26,851,000) | (47,387,000) | - | - | - |
| % Net Margin | (95.5%) | (24.7%) | (29.8%) | (39.8%) | (55.6%) | (104.0%) | - | - | - |
Exagen Inc. - employee data
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