Segment Reporting (Tables)

6 Months Ended

Jun. 30, 2025

Schedule of Reconciliation of Profit or Loss

Segment revenue and net loss, including significant segment expenses regularly provided to the CODM are as follows (in thousands):


	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024

Revenue	$	17,202	$	15,064	$	32,700	$	29,479
Cost of revenue	6,807		6,008		13,182		11,825
Gross margin	10,395		9,056		19,518		17,654
Segment operating expenses:
Employee expense	7,535		6,723		15,083		13,415
Outside services	1,347		1,058		2,464		2,189
Facilities related	918		973		1,818		1,965
Travel & entertainment	715		587		1,451		1,120
Stock compensation	384		521		745		1,057
Depreciation and amortization	270		261		529		531
Other1	1,856		1,520		3,423		2,967
Total segment operating expenses	13,025		11,643		25,513		23,244
Loss from operations	(2,630)		(2,587)		(5,995)		(5,590)
Interest expense	(1,124)		(560)		(1,669)		(1,109)
Loss on extinguishment of debt	(295)		—		(295)		—
Change in fair value of warrant liability	(438)		—		(438)		—
Interest income	85		181		243		373
Loss before income taxes	(4,402)		(2,966)		(8,154)		(6,326)
Income tax expense	(37)		—		(37)		—
Segment net loss	$	(4,439)	$	(2,966)	$	(8,191)	$	(6,326)

1Other segment items included in Segment net loss include insurance expenses, trade show and conference expenses, fulfillment expenses, board compensation, clinical trial expenses, collaboration expenses and bank fees, among others.

EXAGEN INC. 10-Q