What drove LUCD's surprise Q3 earnings beat?

Lucid Diagnostics Inc. (LUCD) reported a revenue surprise in Q3 with a reported revenue of $1.172 million, slightly exceeding the analyst estimate of $1.14 million. The company's EsoGuard® revenue increased by 20% sequentially, indicating strong demand and market penetration. Test volumes also exceeded 4,000 tests, setting a new record and exceeding the critical mass target of 2,500–3,000 tests per quarter. These achievements are crucial for a company in the Medical Devices & Instruments industry, where securing reimbursement and expanding market access are key to financial sustainability. The company's strategic focus on achieving broader coverage and reimbursement for EsoGuard, aiming to drive revenue growth in 2025, and the positive commercial insurance coverage policy for EsoGuard achieved with Highmark Blue Cross Blue Shield of New York are significant factors.