EXAS Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

EXAS

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How this company scores

WeakMetricSide Score: 60/100

Grade capped at D — Interest coverage below 1× (-10.4x) — earnings cannot cover interest. Strongest: Growth (21/25); weakest: Balance Sheet & Red Flags (10/25).

Profitability14/25

Growth21/25

Balance Sheet & Red Flags10/25

Cash & Earnings Quality15/25

Strengths

Growing revenueRising free cash flowLong cash runwayProfit converts from growth

Grade capped at D

Interest coverage below 1× (-10.4x) — earnings cannot cover interest.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

FCF consistently trails net income (avg -7.1x) — earnings may be inflated by non-cash items or aggressive accounting.

Price & Volume

Metrics at a Glance

as of December 2025

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $3.25B
Q. Revenue: $878.38M
TTM EBITDA: $15.28M
TTM Op. Income: $-206.30M
Q. Op. Income: $-82.59M
TTM Net Income: $-207.95M
Q. Net Income: $-85.95M
EPS: $-0.453
Shares Out.: $189.78M

$3.25B in TTM revenue grew 17.7% YoY, reaching $878.38M last quarter. TTM EBITDA of $15.28M and TTM operating income of $-206.30M show growth is flowing through to the bottom line. However, net income is negative at $207.95M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 7 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 70.1%
EBITDA Margin: -3.0%
Op. Margin: -9.4%
Net Margin: -9.8%

Op. margin of -9.4% is up 113.4% YoY — cost efficiency is improving. Net margin at -9.8% and gross margin of 70.1% show how much of each revenue dollar survives to profit. Across the last 8 quarters, operating margin has fallen for 2 consecutive quarters — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: N/A
P/B Ratio: N/A

P/S of 0.0x and P/B of 0.0x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $5.86B
Cash: $956.00M
Long-Term Debt: $2.33B
Book Value: $2.40B
D/E Ratio: 1.0
Debt/EBITDA: N/A

With $5.86B in assets and $2.33B in long-term debt, D/E is 1.0and book value is $2.40B — a conservative capital structure with a cushion to weather downturns. Over the past year, debt/equity is up 0% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $151.69M
TTM Free Cash Flow: $356.78M
FCF Margin: 11.0%
FCF / Net Income: -1.7

TTM FCF of $356.78M on $151.69M in operating cash flow. The FCF / Net Income ratio of -1.7x means the business consumes cash — it is not yet self-funding. Across the last 8 quarters, free cash flow has risen for 2 consecutive quarters — an improving trend.