What is Exagen Inc.'s warrant liability?

Exagen Inc. (XGN) reported warrant liability of $767K in Q1 2026.

What does warrant liability mean?

Represents the fair value of outstanding warrants classified as liabilities that are expected to be settled beyond one year. These instruments are typically revalued at each reporting period, reflecting changes in the company's stock price and volatility. This metric is critical for assessing potential future dilution and the impact of equity-linked financial instruments on the balance sheet.

Exagen Inc. XGN Warrant liability

Warrant liability at other companies

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$56.11M+55.5%

Energy Vault HoldingsNRGV

$15.35M+767,400%

QT Imaging Holdings, Inc.QTI

$276K-98.6%

Rapid Micro BiosystemsRPID

$116K—

Agrify CorporationRYM

$3.72B—

FTC SolarFTCI

$25.77M+424%

Other financials

Income statement

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Revenue$17.3M+11.7%

Gross profit$10.2M+11.9%

Operating income-$3.4M-1.5%

Net income-$4.0M-5.7%

EPS (diluted)-$0.17+15.0%

Balance sheet

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Cash & equivalents$21.7M+90.6%

Total debt$27.1M+15.8%

Total equity$14.4M+125%

Total assets$52.0M+28.9%

Cash flow

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Operating cash flow-$10.4M+2.4%

CapEx$228.0K+102%

Free cash flow-$10.6M+1.3%

Valuation

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Market cap$112.34M-26.5%

Enterprise value$117.78M-20.3%

P/S1.6×-1.0×

Profitability

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Gross margin58.3%-1.0pp

Operating margin-20.6%-2.9pp

Net margin-29.5%+2.5pp

FCF margin-27.5%—

Returns & leverage

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Return on equity-193.6%+355pp

Debt / equity1.9×-1.8×

Current ratio3.5×+1.1×

Where this comes from

Reported directly by Exagen Inc. in its filing.

Tagged under the XBRL concept exdx:WarrantLiabilityNoncurrent.

The official record: Exagen Inc.’s 10-Q, filed May 11, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Exagen Inc.'s warrant liability?: Exagen Inc. (XGN) reported warrant liability of $767K in Q1 2026.
What does warrant liability mean?: Represents the fair value of outstanding warrants classified as liabilities that are expected to be settled beyond one year. These instruments are typically revalued at each reporting period, reflecting changes in the company's stock price and volatility. This metric is critical for assessing potential future dilution and the impact of equity-linked financial instruments on the balance sheet.