Lucid Diagnostics: Strong Financial Performance and Strategic Advancements Support Buy Rating

Lucid Diagnostics has reported strong Q2 revenue, exceeding expectations, and is working towards broader reimbursement coverage. The company has initiated patient testing under its first commercial insurance policy and partnered with a regional healthcare provider. Despite a reduction in the 12-month price target due to delayed Medicare coverage, the company's innovative diagnostic technology and strategic partnerships justify a Buy rating.

Lucid Diagnostics Inc. (Nasdaq: LUCD) has released its financial results for the second quarter (Q2) 2025, ending June 30, 2025, showcasing robust performance and a promising outlook. The company processed 2,756 EsoGuard® tests and recognized $1.2 million in revenue during the quarter, ending with over $30 million in proforma cash and extending its runway well past upcoming reimbursement milestones [1].

Despite a GAAP net loss of approximately $7.9 million or $(0.08) per common share, the non-GAAP adjusted loss was approximately $9.9 million or $(0.10) per common share, reflecting the impact of stock-based compensation and other non-cash expenses [1]. This quarter, Lucid Diagnostics' balance sheet was strengthened by a public offering of common stock, netting approximately $16.1 million in proceeds, which, combined with the existing cash on hand, extended the company's runway into 2026 [1].

Significant milestones were achieved during the quarter. Lucid Diagnostics initiated patient testing and billing under its first positive commercial insurance coverage policy for EsoGuard from Highmark Blue Cross Blue Shield, which became effective May 26, 2025. Additionally, the company partnered with Hoag, a regional healthcare delivery network, to expand access to at-risk patients across its digestive health, primary care, and concierge medicine programs [1].

A critical milestone is the upcoming MolDx Contractor Advisory Committee (CAC) meeting on September 4, 2025, to review the clinical evidence related to Local Coverage Determination (LCD) L39256 for EsoGuard. This meeting is part of the reconsideration process requested by Lucid in November 2024 [1].

The company will hold a conference call and webcast on Wednesday, August 13, 2025, at 8:30 AM EDT to discuss these financial results and business updates. Investors and stakeholders can access the webcast on the company's investor relations section at luciddx.com or by calling 1-800-836-8184 for U.S.-based callers and 1-646-357-8785 for international listeners [1].

References:
[1] https://www.prnewswire.com/news-releases/lucid-diagnostics-provides-business-update-and-reports-second-quarter-2025-financial-results-302528917.html