Exagen Valuation Multiples

Exagen Overview

About Exagen

Exagen Inc is a commercial-stage diagnostics company committed to addressing the unmet need for the accurate diagnosis and monitoring of patients affected by autoimmune rheumatic diseases. It currently markets ten testing products under its Avise brand to provide an accurate, timely, and differential diagnosis and to optimize the treatment of ARDs. It markets and sells solutions to community rheumatologists.

Founded

2002

HQ

Employees

209

Website

exagen.com

Sectors

Medical Imaging & DiagnosticsLaboratory ServicesBioTechHealthTech

Financials (LTM)

Revenue: $68M

EBITDA: ($9M)

EV

$68M

Valuation Multiples

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Exagen Financials

Exagen reported last 12-month revenue of $68M and negative EBITDA of ($9M).

In the same LTM period, Exagen generated $40M in gross profit, ($9M) in EBITDA losses, and had net loss of ($19M).

Exagen P&L

In the most recent fiscal year, Exagen reported revenue of $67M and EBITDA of ($10M).

Exagen expects next 12-month revenue of XXX and NTM EBITDA of XXX

Exagen Stock Performance

Exagen has current market cap of $74M, and enterprise value of $68M.

Exagen's stock price is $3.08.

Exagen Valuation Multiples

Exagen trades at 1.0x EV/Revenue multiple, and (7.5x) EV/EBITDA.

Exagen Financial Valuation Multiples

As of April 20, 2026, Exagen has market cap of $74M and EV of $68M.

Equity research analysts estimate Exagen's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Exagen has a P/E ratio of (3.9x).

Exagen Margins & Growth Rates

Exagen's revenue in the last 12 month grew by 9%.

Exagen's revenue per employee in the last FY averaged $0.3M, while opex per employee averaged $0.3M for the same period.

Exagen's rule of 40 is (3%) (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Exagen's rule of X is 7% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Exagen Public Comps

See public comps and valuation multiples for other Medical Imaging & Diagnostics and Laboratory Services comps.

Exagen M&A Activity

Exagen acquired XXX companies to date.

Last acquisition by Exagen was on XXXXXXXX, XXXXX. Exagen acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Exagen Investment Activity

Exagen invested in XXX companies to date.

Exagen made its latest investment on XXXXXXXX, XXXXX. Exagen invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).