Earnings Call Summary | Exagen(XGN.US) Q1 2024 Earnings Conference
Earnings Call Summary | Exagen(XGN.US) Q1 2024 Earnings Conference
The following is a summary of the Exagen, Inc. (XGN) Q1 2024 Earnings Call Transcript:
以下是Exagen, Inc.(XGN)2024年第一季度财报电话会议记录摘要:
Financial Performance:
财务业绩:
Exagen reported Q1 2024 total revenue of $14.4 million, driven by a strong increase in AVISE CTD ASP.
The trailing 12-month ASP is now $377 per test, up 35% from a year ago.
Adjusted EBITDA for the first quarter was a negative $2 million, a significant improvement over the same period last year.
Gross margin improved to 59.6% in Q1 2024 from 47.2% in Q1 2023, primarily due to increased ASP.
Full-year 2024 revenue guidance has been increased from around $54 million to at least $55 million, and adjusted EBITDA will be better than the previously estimated negative $20 million, now expected to be better than negative $18 million.
Exagen报告称,2024年第一季度总收入为1,440万美元,这得益于AVISE CTD ASP的强劲增长。
过去12个月的ASP现在为每次测试377美元,比去年同期增长了35%。
第一季度调整后的息税折旧摊销前利润为负200万美元,与去年同期相比大幅改善。
毛利率从2023年第一季度的47.2%提高到2024年第一季度的59.6%,这主要是由于ASP的增加。
2024年全年收入预期已从约5400万美元提高至至少5500万美元,调整后的息税折旧摊销前利润将好于先前估计的负2,000万美元,目前预计将好于负1,800万美元。
Business Progress:
业务进展:
AVISE CTD test volume in Q1 was just over 30,000, essentially flat from Q4 2023, but a monthly increase is expected to continue into Q2.
Exagen will add three T-cell markers for SLE and new markers for rheumatoid arthritis to the AVISE CTD offering in Q4 2024, promising financial performance improvement and product enhancement.
The commercial team is preparing to launch the new markers and their laboratory is working to meet the operational requirements for offering the new markers at scale.
No major hurdles are expected from FDA's new rule on lab-developed tests since Exagen is CLIA, CAP, and New York State certified, with multiple assays already FDA-approved.
Exagen reduced operating territories from 63 to 40 in December 2022 and recorded increased sales productivity, with record volume in Q1 and Q2 2023.
第一季度的AVISE CTD测试量刚刚超过3万个,与2023年第四季度相比基本持平,但预计月度增长将持续到第二季度。
Exagen将于2024年第四季度在AVISE CTD产品中增加三种用于系统性红斑狼疮的T细胞标志物和类风湿关节炎的新标志物,承诺财务业绩改善和产品改进。
商业团队正准备推出新标记,他们的实验室正在努力满足大规模提供新标记物的运营要求。
由于Exagen已获得CLIA、CAP和纽约州认证,而且多项检测已获得美国食品药品管理局的批准,因此预计FDA关于实验室开发的测试的新规定不会有重大障碍。
2022年12月,Exagen将运营区域从63个减少到40个,销售生产率有所提高,2023年第一季度和第二季度的销量创历史新高。
More details: Exagen IR
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