Exagen Reports Q3 2026 Revenue Growth Driven by Pricing Expansion and Physician Adoption
Exagen (XGN) reported third-quarter revenue of $18.4 million, a 7% increase compared to the same period in 2025. This growth was fueled by both increased volume and its 14th consecutive quarter of average selling price (ASP) improvements, which reached a trailing 12-month record of $451. The company also saw an 85% year-to-date increase in Pharma Services revenue, supported by a growing backlog of $5.5 million. Strategically, Exagen is transitioning into a multi-product autoimmune platform through investments in AI-enabled workflow optimization and clinical trial support. While the company reported an adjusted EBITDA loss of $1.9 million for the quarter, year-to-date losses have improved by over 30%. Management reiterated full-year revenue guidance of $72 million to $75 million despite potential pricing headwinds from PAMA regulations.
Tickers: $XGN
Topics: EBITDA loss gross margin pharma services expansion revenue growth