Exagen Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Exagen (NASDAQ:XGN) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$12.5m (down 6.8% from 3Q 2023).
• Net loss: US$5.03m (loss narrowed by 7.1% from 3Q 2023).
• US$0.28 loss per share (improved from US$0.31 loss in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Exagen EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 7.8%. Earnings per share (EPS) exceeded analyst estimates by 4.1%.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 22% growth forecast for the Biotechs industry in the US.

Performance of the American Biotechs industry.

The company's shares are up 12% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 2 warning signs for Exagen that you need to be mindful of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.