10-Year Performance
Revenue, net income, margins and EPS trends
06
Revenue$67M2018-12-31 → 2025-12-31
EPS$-0.932020-12-31 → 2025-12-31
Free Cash Flow$-14M2019-12-31 → 2025-12-31
Net margin-26.6%2019-12-31 → 2025-12-31
Valuation & Ratios07–12
Valuation
P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
P/E (TTM)
-10.05Y avg ≈-3.5
≈-3.5
·
·
P/S (TTM)
2.85Y avg ≈1.2
≈1.2
66.2
Undervalued
P/B (MRQ)
16.25Y avg ≈4.5
≈4.5
3.2
Overvalued
EV / EBITDA
-15.75Y avg ≈-4.4
≈-4.4
·
·
Price / FCF (TTM)
-26.05Y avg ≈-4.6
≈-4.6
·
·
Price / Cash Flow (TTM)
-30.45Y avg ≈-4.8
≈-4.8
·
·
EV / Revenue
2.85Y avg ≈0.9
≈0.9
·
·
EV / FCF
-13.15Y avg ≈-3.9
≈-3.9
·
·
Price / Tangible Book
11.35Y avg ≈4.5
≈4.5
·
·
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability
Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
Gross Margin (TTM)
58.6%
·
·
·
Operating Margin (TTM)
-18.6%5Y avg ≈-47.5%
≈-47.5%
-1088.2%
Top tier
EBITDA Margin (TTM)
-15.2%5Y avg ≈-44.1%
≈-44.1%
-1088.2%
Top tier
Net Profit Margin (TTM)
-26.6%5Y avg ≈-51.6%
≈-51.6%
-988.2%
Top tier
ROA (TTM)
-34.2%5Y avg ≈-37.7%
≈-37.7%
-45.0%
Top tier
ROE (TTM)
-113.8%5Y avg ≈-107.3%
≈-107.3%
-70.4%
Weak
Financial Health
Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
Debt / Equity (MRQ)
1.95Y avg ≈1.2
≈1.2
0.0
High debt
Current Ratio (MRQ)
3.25Y avg ≈4.4
≈4.4
7.3
Low liquidity
Quick Ratio
3.05Y avg ≈4.0
≈4.0
5.0
Low liquidity
Long-Term Debt / Equity (MRQ)
1.85Y avg ≈1.2
≈1.2
·
·
Growth
Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
Revenue YoY
19.7%5Y avg ≈8.8%
≈8.8%
·
·
Revenue CAGR 3Y
13.5%5Y avg ≈8.7%
≈8.7%
·
·
Revenue CAGR 5Y
9.7%
·
·
·
Per Share Metrics
EPS, book value per share, cash flow per share, dividend per share
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
EPS (Diluted)
$-0.935Y avg ≈$-1.47
≈$-1.47
·
·
Revenue / Share
$3.095Y avg ≈$2.95
≈$2.95
·
·
Cash Flow / Share
$-0.635Y avg ≈$-1.02
≈$-1.02
·
·
Cash / Share
$1.415Y avg ≈$2.14
≈$2.14
·
·
Capital Efficiency
Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
XGN
5Y avg
Peer Median
Verdict
Asset Turnover
1.35Y avg ≈0.9
≈0.9
0.1
Top tier
Receivables Turnover
7.15Y avg ≈7.3
≈7.3
·
·
Revenue / Employee
≈$308.2K
·
·
·
value · ≈ 5Y avg · industry median · verdict relative to median
Earnings History
EPS actual vs estimate, surprise %, beat rate, next earnings date
14
Avg Surprise-12.6%
Next ReportNov 02, 2026
Period
Report
EPS Actual
EPS Est
Surprise
June 30, 2026
Jul 27, 2026
$-0.13
$-0.19
32.3%
March 31, 2026
May 12, 2026
$-0.20
$-0.24
15.1%
Dec. 31, 2025
$-0.20
$-0.19
-4.2%
Sept. 30, 2025
$-0.31
$-0.16
-94.8%
June 30, 2025
$-0.18
$-0.14
-26.0%
March 31, 2025
$-0.20
$-0.20
1.8%
Full Fundamentals
All metrics by year — income statement, balance sheet, cash flow
15
Income Statement17
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue
$67M
$56M
$53M
$46M
$48M
$42M
$40M
$32M
Cost of Revenue
$28M
$23M
$23M
$24M
$21M
$17M
$19M
$15M
Gross Profit
$39M
$33M
$29M
·
·
·
·
·
R&D Expense
$6M
$5M
$5M
$10M
$7M
$4M
$2M
$2M
SG&A Expense
$47M
$41M
$47M
$52M
$45M
$37M
$29M
$20M
Operating Expenses
$53M
$47M
$52M
$92M
$72M
$57M
$50M
$37M
Operating Income
$-14M
$-14M
$-23M
$-46M
$-24M
$-15M
$-9M
$-5M
Interest Expense
·
·
$2M
$2M
$3M
$3M
$3M
$3M
Interest Income
$289.0K
$767.0K
$2M
·
·
·
·
·
Other Non-op
·
·
·
·
$16.0K
$984.0K
$510.0K
$112.0K
Income Tax
$51.0K
$12.0K
$33.0K
$-282.0K
$175.0K
$-79.0K
$25.0K
$58.0K
Net Income
$-20M
$-15M
$-24M
$-47M
$-27M
$-17M
$-12M
$-8M
EPS (Basic)
$-0.93
$-0.83
$-1.34
$-2.77
$-1.68
$-1.32
·
·
EPS (Diluted)
$-0.93
$-0.83
$-1.34
$-2.77
$-1.68
$-1.32
·
·
Shares (Basic)
21,558,245
18,203,044
17,679,467
17,082,348
15,972,256
12,632,780
·
·
Shares (Diluted)
21,558,245
18,203,044
17,679,467
17,082,348
15,972,256
12,632,780
·
·
EBITDA
$-12M
$-12M
$-21M
$-44M
$-23M
·
$-9M
·
Balance Sheet26
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Cash & Equivalents
$32M
$22M
$36M
$62M
$99M
$57M
$72M
$13M
Receivables
$11M
$8M
$7M
$6M
$10M
$9M
$6M
$6M
Prepaid Expense
$6M
$7M
$5M
$4M
$4M
$4M
$3M
$2M
Other Current Assets
$3M
$6M
$3M
$2M
$1M
$1M
$1M
$1M
Current Assets
$49M
$36M
$48M
$73M
$113M
$71M
$81M
$21M
PP&E (Net)
·
·
·
$8M
$5M
$2M
$1M
$2M
PP&E (Gross)
·
·
·
$13M
$9M
$5M
$4M
$3M
Accum. Depreciation
·
·
·
$5M
$4M
$3M
$2M
$2M
Goodwill
·
·
·
$0
$6M
$6M
$6M
$6M
Other Non-current Assets
$756.0K
$550.0K
$616.0K
$528.0K
$433.0K
$250.0K
$174.0K
$503.0K
Total Assets
$58M
$45M
$57M
$86M
$123M
$78M
$88M
$29M
Accounts Payable
$4M
$4M
$3M
$3M
$2M
$3M
$1M
$1M
Accrued Liabilities
$6M
$7M
$8M
$5M
$7M
$6M
$4M
$4M
Current Liabilities
$14M
$14M
$12M
$10M
$9M
$9M
$6M
$9M
Capital Leases
$438.0K
$2M
$3M
$4M
$0
$576.0K
$636.0K
·
Deferred Tax
·
·
·
$0
$306.0K
$158.0K
$264.0K
$245.0K
Other Non-current Liabilities
·
$157.0K
$357.0K
$867.0K
$1M
$948.0K
$638.0K
$304.0K
Total Liabilities
$41M
$35M
$34M
$44M
$39M
$37M
$33M
$36M
Long-term Debt
$23M
$20M
$19M
$29M
$27M
$27M
$26M
·
Total Debt
$23M
$20M
$19M
$29M
$27M
·
$26M
·
Common Stock
$23.0K
$18.0K
$17.0K
$17.0K
$16.0K
$13.0K
$13.0K
$0
Paid-in Capital
$332M
$304M
$302M
$298M
$293M
$223M
$220M
$41M
Retained Earnings
$-314M
$-294M
$-279M
$-256M
$-208M
$-181M
$-165M
$-153M
Stockholders' Equity
$17M
$10M
$23M
$42M
$85M
$42M
$56M
$-112M
Liabilities + Equity
$58M
$45M
$57M
$86M
$123M
$78M
$88M
$29M
Shares Outstanding
22,911,575
17,640,328
17,045,954
16,549,984
16,164,994
12,652,308
12,560,990
63,005
Cash Flow16
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
D&A
$2M
$2M
$2M
$2M
$900.0K
$500.0K
$600.0K
$600.0K
Stock-based Comp
$2M
$2M
$4M
$5M
$5M
$3M
$572.0K
$114.0K
Deferred Tax
$0
$0
$0
$-306.0K
$148.0K
$-106.0K
$20.0K
$31.0K
Amort. of Intangibles
·
·
·
·
·
·
$0
$141.0K
Other Non-cash
$2M
$-2M
$3M
$9M
$806.0K
·
$1M
·
Operating Cash Flow
$-14M
$-13M
$-14M
$-32M
$-20M
$-14M
$-10M
$-9M
CapEx
$641.0K
$515.0K
$828.0K
$4M
$2M
$455.0K
$403.0K
$199.0K
Investing Cash Flow
$-626.0K
$-515.0K
$-804.0K
$-4M
$-2M
$-455.0K
$-103.0K
$-199.0K
Debt Issued
·
·
·
·
·
·
$0
$5M
Net Debt Issued
·
$0
$-10M
·
·
·
$0
·
Stock Issued
$3M
$0
·
$0
$69M
$0
·
·
Net Stock Activity
$3M
·
·
$0
$69M
·
·
·
Financing Cash Flow
$24M
$-663.0K
$-11M
$-489.0K
$65M
$-97.0K
$69M
$11M
Net Change in Cash
$10M
$-14M
$-26M
$-37M
$42M
$-15M
$59M
$2M
Taxes Paid
$35.0K
$32.0K
·
·
·
·
·
·
Free Cash Flow
$-14M
$-14M
$-15M
$-36M
$-23M
·
$-10M
·
Profitability6
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Gross Margin
58.3%
59.5%
·
·
·
·
·
·
Operating Margin
-21.1%
-24.5%
-43.5%
-101.1%
-49.8%
·
-23.0%
·
Net Margin
-30.0%
-27.2%
-45.1%
-104.0%
-55.6%
·
-29.8%
·
EBITDA Margin
-18.0%
-21.4%
-39.3%
-97.6%
-48.0%
·
-21.5%
·
ROA
-38.9%
-29.7%
-33.1%
-49.1%
-26.6%
·
-20.5%
·
ROE
-103.7%
-134.9%
-94.4%
-96.1%
-30.6%
·
-21.1%
·
Liquidity & Solvency5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Current Ratio
3.5
2.7
4.0
7.5
12.1
·
13.8
·
Quick Ratio
3.0
2.2
3.6
7.1
11.7
·
13.2
·
Debt / Equity
1.3
2.1
0.9
0.7
0.3
·
0.5
·
LT Debt / Equity
1.3
2.1
0.8
0.7
0.3
·
0.5
·
Interest Coverage
·
·
-9.8
-18.8
-9.2
·
-2.7
·
Efficiency2
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Asset Turnover
1.3
1.1
0.7
0.5
0.5
·
0.7
·
Receivables Turnover
7.1
7.7
8.3
6.2
5.2
·
6.9
·
Per Share5
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Book Value / Share
$0.76
$0.54
$1.33
$2.57
$5.25
·
$4.43
·
Revenue / Share
$3.09
$3.06
$2.97
$2.67
$3.02
·
·
·
Cash Flow / Share
$-0.63
$-0.73
$-0.82
$-1.88
$-1.27
·
·
·
Cash / Share
$1.41
$1.25
$2.14
$3.77
$6.15
·
$5.74
·
EPS (TTM)
$-0.93
$-0.83
$-1.34
$-2.77
$-1.68
$-1.32
·
·
Growth Rates3
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue YoY
19.7%
5.9%
15.3%
-5.7%
15.1%
·
·
·
Revenue CAGR 3Y
13.5%
4.8%
7.8%
·
·
·
·
·
Revenue CAGR 5Y
9.7%
·
·
·
·
·
·
·
Valuation (TTM)14
Metric
Trend
2025
2024
2023
2022
2021
2020
2019
2018
Revenue TTM
$67M
$56M
$53M
$46M
$48M
$42M
$40M
·
Net Income TTM
$-20M
$-15M
$-24M
$-47M
$-27M
$-17M
$-12M
·
Market Cap
$139M
$72M
$34M
$40M
$188M
·
$319M
·
Enterprise Value
$130M
$71M
$17M
$6M
$116M
·
$273M
·
P/E
-6.5
-4.9
-1.5
-0.9
-6.9
-10.0
·
·
P/S
2.1
1.3
0.6
0.9
3.9
·
7.9
·
P/B
8.0
7.6
1.5
0.9
2.2
·
5.7
·
P / Tangible Book
8.0
7.6
1.5
0.9
2.4
4.6
·
·
P / Cash Flow
-10.2
-5.4
-2.3
-1.2
-9.3
·
-32.9
·
P / FCF
-9.8
-5.2
-2.2
-1.1
-8.3
·
-31.5
·
EV / EBITDA
-10.9
-5.9
-0.8
-0.1
-5.0
·
-31.4
·
EV / FCF
-9.1
-5.1
-1.1
-0.2
-5.1
·
-27.0
·
EV / Revenue
2.0
1.3
0.3
0.1
2.4
·
6.8
·
Earnings Yield
-15.3%
-20.2%
-67.3%
-115.4%
-14.4%
-10.0%
·
·
Income Statement17
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue
$20M
$17M
$17M
$17M
$17M
$15M
$14M
$13M
$15M
$14M
$14M
$13M
$14M
$11M
$13M
$15M
Cost of Revenue
$8M
$7M
$7M
$7M
$7M
$6M
$5M
$6M
$6M
$6M
$6M
$6M
$6M
$6M
$6M
$6M
Gross Profit
$12M
$10M
$9M
$10M
$10M
$9M
$8M
$7M
$9M
$9M
·
·
·
·
·
·
R&D Expense
$1M
$2M
$2M
$2M
$1M
$1M
$2M
$1M
$1M
$1M
$1M
$1M
$1M
$1M
$3M
$2M
SG&A Expense
$13M
$12M
$12M
$11M
$12M
$11M
$10M
$10M
$10M
$11M
$12M
$11M
$12M
$12M
$13M
$14M
Operating Expenses
$14M
$14M
$14M
$13M
$13M
$12M
$12M
$12M
$12M
$12M
$-4M
$18M
$19M
$19M
$27M
$23M
Operating Income
$-2M
$-3M
$-5M
$-3M
$-3M
$-3M
$-3M
$-5M
$-3M
$-3M
$-5M
$-5M
$-5M
$-8M
$-14M
$-8M
Interest Expense
·
·
·
·
·
·
·
·
·
$549.0K
·
$557.0K
$574.0K
$638.0K
$626.0K
$618.0K
Interest Income
·
·
$43.0K
$3.0K
$85.0K
$158.0K
$197.0K
$197.0K
$181.0K
$192.0K
$173.0K
$211.0K
$476.0K
·
·
·
Other Non-op
$153.0K
$-132.0K
·
·
$85.0K
$158.0K
·
·
·
·
·
$211.0K
$476.0K
·
·
$339.0K
Income Tax
$0
$36.0K
$13.0K
$1.0K
$37.0K
$0
$12.0K
$0
$0
·
·
·
·
·
·
·
Net Income
$-3M
$-4M
$-5M
$-7M
$-4M
$-4M
$-4M
$-5M
$-3M
$-3M
$-6M
$-5M
$-5M
$-8M
$-14M
$-8M
EPS (Basic)
$-0.13
$-0.17
$-0.21
$-0.31
$-0.21
$-0.20
$-0.20
$-0.28
$-0.16
$-0.19
$-0.31
$-0.31
$-0.28
$-0.44
$-0.84
$-0.47
EPS (Diluted)
$-0.13
$-0.17
$-0.21
$-0.31
$-0.21
$-0.20
$-0.20
$-0.28
$-0.16
$-0.19
$-0.31
$-0.31
$-0.28
$-0.44
$-0.84
$-0.47
Shares (Basic)
24,164,569
23,854,997
·
22,940,412
21,085,749
18,557,390
·
18,254,937
18,178,185
17,944,438
·
17,692,603
17,655,483
17,526,763
·
17,080,959
Shares (Diluted)
24,164,569
23,854,997
·
22,940,412
21,085,749
18,557,390
·
18,254,937
18,178,185
17,944,438
·
17,692,603
17,655,483
17,526,763
·
17,080,959
EBITDA
$-1M
$-3M
·
$-2M
$-2M
$-3M
·
$-4M
$-2M
$-3M
·
$-4M
$-4M
$-7M
·
$-7M
Balance Sheet23
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Cash & Equivalents
$25M
$22M
$32M
$36M
$30M
$11M
$22M
$22M
$24M
$27M
$36M
$28M
$31M
$52M
$62M
$69M
Receivables
$12M
$16M
$11M
$11M
$14M
$15M
$8M
$9M
$12M
$11M
$7M
$17M
$16M
$9M
$6M
$11M
Prepaid Expense
$6M
$6M
$6M
$6M
$7M
$7M
$7M
$4M
$5M
$4M
$5M
$3M
$4M
$4M
$4M
$3M
Other Current Assets
$4M
$4M
$3M
$4M
$4M
$5M
$6M
$3M
$3M
$2M
$3M
$2M
$2M
$2M
$2M
$1M
Current Assets
$43M
$44M
$49M
$53M
$51M
$33M
$36M
$36M
$41M
$42M
$48M
$49M
$51M
$66M
$73M
$82M
Goodwill
·
·
·
·
·
·
·
·
·
·
·
·
·
·
$0
$6M
Other Non-current Assets
$560.0K
$584.0K
$756.0K
$1M
$1M
$596.0K
$550.0K
$563.0K
$513.0K
$561.0K
$616.0K
$638.0K
$620.0K
$603.0K
$528.0K
$586.0K
Total Assets
$52M
$52M
$58M
$63M
$59M
$40M
$45M
$44M
$49M
$51M
$57M
$61M
$64M
$79M
$86M
$102M
Accounts Payable
$4M
$4M
$4M
$4M
$3M
$5M
$4M
$1M
$2M
$1M
$3M
$2M
$1M
$2M
$3M
$4M
Accrued Liabilities
$5M
$5M
$6M
$6M
$5M
$5M
$7M
$6M
$6M
$6M
$8M
$7M
$6M
$6M
$5M
$7M
Current Liabilities
$13M
$13M
$14M
$13M
$10M
$14M
$14M
$9M
$9M
$9M
$12M
$10M
$9M
$9M
$10M
$11M
Capital Leases
$1M
$111.0K
$438.0K
$759.0K
$1M
$1M
$2M
$2M
$2M
$2M
$3M
$4M
$4M
$4M
$4M
$5M
Deferred Tax
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
$306.0K
Other Non-current Liabilities
·
·
·
·
$91.0K
$122.0K
·
$185.0K
$219.0K
$268.0K
$357.0K
$484.0K
$597.0K
$726.0K
$867.0K
$999.0K
Total Liabilities
$40M
$38M
$41M
$45M
$38M
$34M
$35M
$31M
$32M
$31M
$34M
$33M
$32M
$43M
$44M
$45M
Long-term Debt
$23M
$23M
$23M
$23M
$23M
$21M
$20M
$20M
$20M
$20M
$19M
$19M
$19M
$29M
$29M
$28M
Total Debt
$23M
$23M
·
$23M
$23M
$21M
·
$20M
$20M
$20M
·
$19M
$19M
$29M
·
$28M
Common Stock
$24.0K
$24.0K
$23.0K
$23.0K
$22.0K
$18.0K
$18.0K
$18.0K
$17.0K
$17.0K
$17.0K
$17.0K
$17.0K
$17.0K
$17.0K
$16.0K
Paid-in Capital
$334M
$333M
$332M
$328M
$324M
$304M
$304M
$303M
$303M
$303M
$302M
$301M
$300M
$299M
$298M
$297M
Retained Earnings
$-321M
$-318M
$-314M
$-310M
$-303M
$-298M
$-294M
$-291M
$-286M
$-283M
$-279M
$-274M
$-268M
$-263M
$-256M
$-241M
Stockholders' Equity
$12M
$14M
$17M
$18M
$21M
$6M
$10M
$13M
$18M
$20M
$23M
$28M
$32M
$36M
$42M
$56M
Liabilities + Equity
$52M
$52M
$58M
$63M
$59M
$40M
$45M
$44M
$49M
$51M
$57M
$61M
$64M
$79M
$86M
$102M
Shares Outstanding
24,193,101
24,088,057
22,911,575
22,510,313
21,998,739
17,950,033
17,640,328
17,520,335
17,381,575
17,317,941
17,045,954
16,931,894
16,858,194
16,827,014
16,549,984
16,305,475
Cash Flow10
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
D&A
$600.0K
$600.0K
$600.0K
$600.0K
$500.0K
$400.0K
$400.0K
$400.0K
$400.0K
$500.0K
$500.0K
$600.0K
$500.0K
$600.0K
$600.0K
$400.0K
Stock-based Comp
$980.0K
$655.0K
$705.0K
$593.0K
$443.0K
$417.0K
$433.0K
$217.0K
$560.0K
$553.0K
$763.0K
$890.0K
$978.0K
$986.0K
$582.0K
$1M
Other Non-cash
·
$-8M
·
·
·
$-8M
·
·
·
$-7M
·
·
·
$-4M
·
·
Operating Cash Flow
$4M
$-10M
$-3M
$3M
$-3M
$-11M
$363.0K
$-2M
$-2M
$-9M
$8M
$-3M
$-10M
$-10M
$-6M
$-7M
CapEx
$543.0K
$228.0K
$44.0K
$275.0K
$209.0K
$113.0K
$146.0K
$147.0K
$136.0K
$86.0K
$106.0K
$2.0K
$324.0K
$396.0K
$406.0K
$879.0K
Investing Cash Flow
$-543.0K
$-228.0K
$-35.0K
$-275.0K
$-209.0K
$-107.0K
$-146.0K
$-147.0K
$-136.0K
$-86.0K
$-84.0K
$-2.0K
$-322.0K
$-396.0K
$-406.0K
$-879.0K
Stock Issued
·
·
$-38.0K
$-15M
·
·
$0
$0
·
·
·
·
·
·
·
$0
Financing Cash Flow
$-370.0K
$-62.0K
$-384.0K
$3M
$22M
$-64.0K
$-216.0K
$-121.0K
$-226.0K
$-100.0K
$-220.0K
$-108.0K
$-10M
$-62.0K
$-173.0K
$-22.0K
Net Change in Cash
$3M
$-11M
$-3M
$6M
$19M
$-11M
$1.0K
$-2M
$-3M
$-9M
$8M
$-3M
$-21M
$-10M
$-6M
$-8M
Free Cash Flow
·
$-11M
·
·
·
$-11M
·
·
·
$-9M
·
·
·
$-10M
·
·
Profitability6
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Gross Margin
61.3%
59.0%
·
58.4%
60.4%
58.9%
·
·
·
·
·
·
·
·
·
·
Operating Margin
-8.6%
-19.7%
·
-18.0%
-15.3%
-21.7%
·
-37.3%
-17.2%
-20.8%
·
-37.8%
-34.8%
-68.6%
·
-53.1%
Net Margin
-16.0%
-22.9%
·
-41.1%
-25.8%
-24.2%
·
-40.2%
-19.7%
-23.3%
·
-40.4%
-35.5%
-68.5%
·
-55.0%
EBITDA Margin
-5.6%
-16.3%
·
-14.5%
-12.4%
-19.1%
·
-34.1%
-14.5%
-17.4%
·
-33.3%
-31.2%
-63.3%
·
-50.4%
ROA
-5.8%
-8.6%
·
-13.3%
-8.2%
-8.2%
·
-9.6%
-5.2%
-5.2%
·
-6.7%
-5.9%
-7.6%
·
-7.1%
ROE
-19.2%
-38.1%
·
-45.7%
-23.0%
-28.4%
·
-24.9%
-12.0%
-12.0%
·
-12.9%
-10.6%
-13.7%
·
-11.0%
Liquidity & Solvency5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Current Ratio
3.2
3.5
·
4.1
5.0
2.3
·
4.1
4.3
4.8
·
4.8
6.0
7.1
·
7.2
Quick Ratio
2.7
3.0
·
3.6
4.3
1.9
·
3.6
3.8
4.3
·
4.5
5.5
6.6
·
7.0
Debt / Equity
1.9
1.6
·
1.3
1.1
3.3
·
1.6
1.2
1.0
·
0.7
0.6
0.8
·
0.5
LT Debt / Equity
1.8
1.5
·
1.2
1.1
2.9
·
1.5
1.1
1.0
·
0.7
0.6
0.8
·
0.5
Interest Coverage
·
·
·
·
·
·
·
·
·
-5.5
·
-9.1
-8.6
-12.1
·
-12.6
Efficiency2
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Asset Turnover
0.4
0.4
·
0.3
0.3
0.3
·
0.2
0.3
0.2
·
0.2
0.2
0.1
·
0.1
Receivables Turnover
1.5
1.1
·
1.7
1.3
1.2
·
0.9
1.1
1.4
·
1.0
1.1
1.1
·
1.5
Per Share5
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Book Value / Share
$0.50
$0.60
·
$0.81
$0.96
$0.36
·
$0.73
$1.01
$1.15
·
$1.62
$1.89
$2.14
·
$3.45
Revenue / Share
$0.83
$0.73
·
$0.75
$0.82
$0.84
·
$0.69
$0.83
$0.80
·
$0.76
$0.80
$0.64
·
$0.86
Cash Flow / Share
·
$-0.44
·
·
·
$-0.57
·
·
·
$-0.50
·
·
·
$-0.56
·
·
Cash / Share
$1.02
$0.89
·
$1.58
$1.37
$0.62
·
$1.26
$1.41
$1.57
·
$1.68
$1.87
$3.10
·
$4.21
EPS (TTM)
$-0.82
$-0.90
·
$-0.92
$-0.89
$-0.84
·
$-0.94
$-0.97
$-1.09
·
$-1.87
$-2.03
$-2.61
·
$-2.33
Valuation (TTM)11
Metric
Trend
Q2 2026
Q1 2026
Q4 2025
Q3 2025
Q2 2025
Q1 2025
Q4 2024
Q3 2024
Q2 2024
Q1 2024
Q4 2023
Q3 2023
Q2 2023
Q1 2023
Q4 2022
Q3 2022
Revenue TTM
$71M
$68M
·
$64M
$59M
$57M
·
$56M
$57M
$56M
·
$52M
$53M
$46M
·
$45M
Net Income TTM
$-19M
$-20M
·
$-19M
$-17M
$-16M
·
$-17M
$-17M
$-19M
·
$-32M
$-35M
$-45M
·
$-40M
Market Cap
$112M
$72M
·
$247M
$154M
$64M
·
$54M
$32M
$28M
·
$41M
$49M
$41M
·
$44M
Enterprise Value
$111M
$74M
·
$235M
$146M
$74M
·
$52M
$27M
$20M
·
$32M
$37M
$18M
·
$3M
P/E
-5.7
-3.3
·
-11.9
-7.8
-4.3
·
-3.3
-1.9
-1.5
·
-1.3
-1.4
-0.9
·
-1.2
P/S
1.6
1.1
·
3.9
2.6
1.1
·
1.0
0.6
0.5
·
0.8
0.9
0.9
·
1.0
P/B
9.2
5.0
·
13.6
7.3
10.1
·
4.2
1.8
1.4
·
1.5
1.5
1.1
·
0.8
P / Tangible Book
9.2
5.0
·
13.6
7.3
10.1
·
4.2
1.8
1.4
·
1.5
1.5
1.1
·
0.9
P / Cash Flow
·
-6.9
·
·
·
-6.0
·
·
·
-3.0
·
·
·
-4.2
·
·
EV / Revenue
1.6
1.1
·
3.7
2.5
1.3
·
0.9
0.5
0.4
·
0.6
0.7
0.4
·
0.1
Earnings Yield
-17.6%
-30.0%
·
-8.4%
-12.8%
-23.4%
·
-30.4%
-53.3%
-68.5%
·
-77.3%
-70.0%
-107.4%
·
-86.0%
Most recent period on the left · null values shown as ·
Financial Statements
Income statement, balance sheet, cash flow — annual, last 5 years
16
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2022-06-30
Revenue
$67M
$56M
$53M
$46M
·
Gross Margin %
58.3%
59.5%
·
·
·
Operating Margin %
-21.1%
-24.5%
-43.5%
-101.1%
·
Net Income
$-20M
$-15M
$-24M
$-47M
·
Diluted EPS
$-0.93
$-0.83
$-1.34
$-2.77
·
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2022-06-30
Debt / Equity
1.3
2.1
0.9
0.7
·
Current Ratio
3.5
2.7
4.0
7.5
·
Quick Ratio
3.0
2.2
3.6
7.1
·
Metric
2025-12-31
2024-12-31
2023-12-31
2022-12-31
2022-06-30
Free Cash Flow
$-14M
$-14M
$-15M
$-36M
·
Institutional owners (13F)
60 filers
· $40.2M total
· As of June 30, 2026
17
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders60
Value held$40.2M
New positions8
Exited positions11
Institutional activity — Q2 2026 vs prior quarter
New positions
Exited positions
Increased
Decreased
Net shares change
8 (0 vs prior Q)
11 (-12 vs prior Q)
15 (-10 vs prior Q)
24 (+2 vs prior Q)
-1.7M
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
Filer
Filed
Stake
Status
Purpose
Filing
H.I.G. Bio-Exagen, L.P., H.I.G.-GPII, Inc., Anthony Tamer, Sami Mnaymneh
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders
20 insiders
· 3 officers · 6 directors