Commercial was Exagen’s largest revenue line in fiscal 2025, bringing in $35.76M of $66.58M (54%).
| Customer | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|
| Commercial | $18.98M | $23.99M | $29.60M | $35.76M | |||
| Healthcare Insurers | — | — | — | — | |||
| Government | $17.69M | $18.00M | $14.32M | $15.88M | |||
| Client Direct Bill | — | — | $11.36M | $14.64M | |||
| Client | $7.93M | $9.95M | — | — | |||
| Blue Shield | — | — | — | — | |||
| Janssen (Simponi) | — | — | — | — | |||
| Other | $973.00K | $612.00K | $358.00K | $286.00K | |||
| Total | $45.56M | $52.55M | $55.64M | $66.58M |
Exagen brought in $66.58M from its four revenue lines in fiscal 2025, the year ended December 31, 2025. That was up 19.7% from $55.64M in fiscal 2024. Commercial was the largest at $35.76M (53.7%), ahead of Government at $15.88M (23.9%) and Client Direct Bill at $14.64M (22.0%). The remaining revenue line, Other, brought in $286.00K.
Compared with fiscal 2024, Client Direct Bill grew fastest, up 28.9% to $14.64M. Every revenue line above 2% of revenue grew.
Exagen began breaking out Client Direct Bill in fiscal 2024, when it brought in $11.36M. Exagen stopped reporting Client as a separate revenue line after fiscal 2023, when it brought in $9.95M.
Exagen (XGN) reports its revenue by customer. In fiscal 2025, Commercial was its largest revenue line, bringing in $35.76M (53.7% of the total), followed by Government at $15.88M (23.9%).
Commercial was Exagen's largest revenue line in fiscal 2025, bringing in $35.76M, or 53.7% of the $66.58M total across its four revenue lines.
Among Exagen's revenue lines that make up at least 2% of revenue, Client Direct Bill grew fastest in fiscal 2025, up 28.9% from $11.36M to $14.64M.
Every figure comes from Exagen's annual financial filings, as reported. Each line keeps the name Exagen gives it, and years follow its fiscal calendar.
Exagen's revenue by customer goes back to fiscal 2019, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.