The Tip Desk

EXAGEN INC.

Company Stats

Market Cap
$197.0M
as of Sep 30, 2026
Shares Outstanding
24.2M
Free Float
52.0%

Income Statement

Revenue
$66.6M
Operating Income
-$14.1M
Net Income
-$20.0M
EBITDA
-$12.0M
Revenue Growth, 3Y
13.5%
FCF Margin, 3Y Avg
-25.1%
FCF Margin, Worst Year
-29.1%

Cash Flow

Free Cash Flow
-$14.3M
FCF Yield
-7.2%
Owner FCF Yield
-8.3%

Balance Sheet

Cash & Equivalents
$32.2M

Returns & Capital

SBC, 3Y Avg
$2.5M

Cash Flow by Year

YearRevenueFCFMargin
FY2025$66.6M-$14.3M-21.4%
FY2024$55.6M-$13.8M-24.8%
FY2023$52.5M-$15.3M-29.1%
FY2022$45.6M-$36.5M-80.0%
FY2021$48.3M-$22.6M-46.9%

Annual filing data through FY ended December 31, 2025; shares and float as of October 28, 2026. Yields and enterprise value use the calculated market cap above, at its as-of date. Ratios are our calculations from reported figures.

Earnings