From GlobeNewswire:

Exagen Inc. announces preliminary unaudited financial results for 2023, including a record volume of AVISE® CTD testing units and a cash balance of $36.5 million as of December 31, 2023. The company also reaffirms its full-year 2023 total revenue guidance of at least $50 million and full-year 2023 non-GAAP adjusted EBITDA guidance of approximately negative $20 million. Exagen’s President and CEO, John Aballi, expresses pride in the company’s 2023 transformation and anticipates growth in 2024. The company cautions that its financial closing procedures with respect to the estimated financial data provided above are not yet complete.

Exagen provided preliminary financial information and results of operations as of and for the year ended December 31, 2023, based on currently available information, which may vary from the preliminary results presented above. In addition to GAAP financial results, Exagen’s press release contains metrics adjusted EBITDA, which excludes certain items and impacts the calculation of GAAP net loss. The company believes adjusted EBITDA provides useful supplemental information in assessing its operating performance.

Exagen is a leading provider of autoimmune testing, located in San Diego County, California. The company is focused on providing clarity in autoimmune disease decision making with the goal of improving patients’ clinical outcomes. Exagen cautions that forward-looking statements contained in its press release are based on its current beliefs and expectations, and actual results may differ due to risks and uncertainties inherent in Exagen’s business. All forward-looking statements are qualified under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For more information, contact Ryan Douglas at 760.560.1525 or [email protected].



Read more: Exagen Inc. Announces Select Preliminary Full-Year 2023