Did Lucid Diagnostics beat or miss consensus estimates last quarter?

What is Lucid Diagnostics's gross profit margin?

What were the key takeaways from Lucid Diagnostics's earnings call?

What were the key takeaways from Lucid Diagnostics’s earnings call?

What factors drove the changes in Lucid Diagnostics's revenue and profit?

What does Lucid Diagnostics do and what are its main business segments?

What is Lucid Diagnostics's latest dividend and current dividend yield?

What guidance did Lucid Diagnostics's management provide for the next earnings period?

- **Medicare Milestone**: Unanimous CAC support signals imminent draft LCD, with retroactive claims possible within 12 months of approval.
- **Financial Strength**: $47 million cash runway post-$27 million offering, enabling Medicare-focused commercial acceleration.
- **Commercial Momentum**: 2,841 tests/Q3, targeting 50% Medicare-eligible patients, with initial successes in shifting volume mix.
- **Cost Efficiency**: Stable $200/test variable costs, with automation/AI opportunities for future savings.
- **Strategic Initiatives**: Firefighter Summit and NIH study expand reach, while UnitedHealthcare guideline inclusion drives commercial payer engagement.

**【CEO Summary Section】**
- **EsoGuard Performance**: Q3 2025 saw 2,841 tests conducted, generating $1.2 million in revenue, consistent with Q2 2025. The company maintains a target of 2,500-3,000 tests per quarter to engage commercial payers.
- **Medicare Progress**: The September 2025 Contract Advisory Committee (CAC) meeting resulted in strong consensus for Medicare coverage. A draft Local Coverage Determination (LCD) is anticipated, with a 45-day public comment period expected to follow.
- **Commercial Expansion**: The company strengthened its market access team and secured a $27 million public offering, extending runway through 2026. Efforts to target Medicare-eligible patients (50% of the 30 million target population) are underway, with initial successes in shifting test volume mix.
- **Firefighter Initiative**: The first Firefighter Esophageal Cancer Prevention Summit was held, aiming to expand contracted testing events with fire departments, a high-risk population for esophageal cancer.

**【CFO Financial Commentary】**
- **Financial Health**: Cash balance stood at $47.3 million as of Q3 2025, supported by a $27 million public offering. Quarterly burn rate was $10.3 million, slightly below the trailing 4-quarter average of $10.5 million.
- **Revenue Recognition**: Due to reimbursement uncertainties, 17% of billed tests ($7.1 million) were recognized as revenue. Medicare approval could enable retroactive claims dating back 12 months.
- **Cost Structure**: Variable costs per test remain stable at ~$200, with no significant inflationary pressures expected.

**【Q&A Highlights】**
- **Medicare Timeline**: The company expects a draft LCD by year-end 2025, with final coverage likely following the public comment period. Discussions with commercial payers are accelerating, leveraging updated guidelines linking EsoGuard to endoscopy coverage.
- **Commercial Payer Engagement**: UnitedHealthcare has included EsoGuard in its endoscopy guidelines, facilitating direct contracting discussions. The team is targeting ~50% of tests from Medicare-eligible patients, up from the current 10-15%.
- **Cost Efficiency**: Variable costs remain stable, with automation and AI opportunities to reduce lab expenses in the future.
- **NIH Study**: The asymptomatic GERD study is enrolling well, with potential to expand the addressable population beyond the current 30 million target. Results are not expected to impact near-term commercial efforts.

Lucid Diagnostics Inc. (LUCD) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

LUCD

LUCD fundamentals

You can ask Aime