Exagen Inc. Files Q2 2024 10-Q Report
Ticker: XGN · Form: 10-Q · Filed: Aug 5, 2024 · CIK: 1274737
| Field | Detail |
|---|---|
| Company | Exagen Inc. (XGN) |
| Form Type | 10-Q |
| Filed Date | Aug 5, 2024 |
| Risk Level | medium |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, medical-laboratories
TL;DR
Exagen Inc. Q2 2024 10-Q filed. Financials updated.
AI Summary
Exagen Inc. filed its 10-Q for the period ending June 30, 2024. The company, headquartered in Vista, CA, operates in the medical laboratories sector. This filing provides financial updates and operational details for the second quarter of 2024.
Why It Matters
This report provides investors and stakeholders with the latest financial performance and operational status of Exagen Inc., crucial for understanding the company's current health and future prospects.
Risk Assessment
Risk Level: medium — As a publicly traded company, Exagen Inc. is subject to market fluctuations and regulatory oversight, inherent risks for all SEC filings.
Key Numbers
- 20240630 — Period End Date (Financial reporting period)
- 20240805 — Filing Date (Date the report was submitted)
Key Players & Entities
- EXAGEN INC. (company) — Filer
- 20240630 (date) — Period of Report
- 20240805 (date) — Filing Date
- VISTA (location) — Business Address City
- CA (location) — Business Address State
- EXAGEN DIAGNOSTICS INC (company) — Former Company Name
FAQ
What is the primary business of Exagen Inc.?
Exagen Inc. operates in the Services-Medical Laboratories sector, SIC code 8071.
What is the fiscal year end for Exagen Inc.?
Exagen Inc.'s fiscal year ends on December 31st.
What was the previous name of Exagen Inc.?
The former company name was Exagen Diagnostics Inc., with a date of name change on December 30, 2003.
What is the filing date of this 10-Q report?
This 10-Q report was filed on August 5, 2024.
What is the reporting period for this 10-Q?
The conforming period of report for this 10-Q is June 30, 2024.
Filing Stats: 4,657 words · 19 min read · ~16 pages · Grade level 15.6 · Accepted 2024-08-05 09:15:33
Key Financial Figures
- $0.001 — ich registered Common Stock, par value $0.001 per share XGN The Nasdaq Global Market
Filing Documents
- exdx-20240630.htm (10-Q) — 800KB
- exhibit102-amendedandresta.htm (EX-10.2) — 151KB
- xgn311-063024.htm (EX-31.1) — 12KB
- xgn321-063024.htm (EX-32.1) — 5KB
- 0001274737-24-000079.txt ( ) — 5367KB
- exdx-20240630.xsd (EX-101.SCH) — 32KB
- exdx-20240630_cal.xml (EX-101.CAL) — 51KB
- exdx-20240630_def.xml (EX-101.DEF) — 179KB
- exdx-20240630_lab.xml (EX-101.LAB) — 554KB
- exdx-20240630_pre.xml (EX-101.PRE) — 361KB
- exdx-20240630_htm.xml (XML) — 625KB
Financial Information
Part I. Financial Information
Unaudited Condensed Financial Statements
Item 1. Unaudited Condensed Financial Statements 1 Unaudited Condensed Balance Sheets as of June 30 , 2024 and December 31, 2023 1 Unaudited Condensed Statements of Operations for the Three and Six Months ended June 30 , 2024 and 2023 2 Unaudited Condensed Statements of Stockholders' Equity for the Three and Six Months ende d June 30 , 2024 and 2023 3 Unaudited Condensed Statements of Cash Flows for the Six Months ende d June 30 , 2024 and 2023 5 Notes to Unaudited Condensed Financial Statements 6
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19
Quantitative and Qualitative Disclosures About Market Risk
Item 3. Quantitative and Qualitative Disclosures About Market Risk 29
Controls and Procedures
Item 4. Controls and Procedures 30
Other Information
Part II. Other Information
Legal Proceedings
Item 1. Legal Proceedings 31
Risk Factors
Item 1A. Risk Factors 31
Other Information
Item 5. Other Information 33
Exhibits
Item 6. Exhibits 35
Financial Information
Part I. Financial Information
Unaudited Condensed Financial Statements
Item 1. Unaudited Condensed Financial Statements Exagen Inc. Unaudited Condensed Balance Sheets (in thousands, except share and per share data) June 30, 2024 December 31, 2023 Assets Current assets: Cash and cash equivalents $ 24,479 $ 36,493 Accounts receivable, net 11,703 6,551 Prepaid expenses and other current assets 4,612 4,797 Total current assets 40,794 47,841 Property and equipment, net 5,147 5,201 Operating lease right-of-use assets 2,853 3,286 Other assets 513 616 Total assets $ 49,307 $ 56,944 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 2,330 $ 3,131 Accrued and other current liabilities 5,658 7,531 Operating lease liabilities 1,035 976 Borrowings-current portion 423 264 Total current liabilities 9,446 11,902 Borrowings-non-current portion, net of discounts and debt issuance costs 19,830 19,231 Operating lease liabilities - non-current portion 2,227 2,760 Other non-current liabilities 219 357 Total liabilities 31,722 34,250 Commitments and contingencies (Note 5) Stockholders' equity: Preferred stock, $ 0.001 par value per share; 10,000,000 shares authorized, no shares issued or outstanding as of June 30, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value per share; 200,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 17,381,575 and 17,045,954 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 17 17 Additional paid-in capital 303,110 301,893 Accumulated deficit ( 285,542 ) ( 279,216 ) Total stockholders' equity 17,585 22,694 Total liabilities and stockholders' equity $ 49,307 $ 56,944 The accompanying notes are an integral part of these condensed financial statements 1 Exagen Inc. Unaudited Condensed Statements of Operations (in thousands, except share and per share data) Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Revenue $ 15,064 $ 14,137 $ 29,479 $ 25,367 Operating expenses