Welcome to our dedicated page for Augmedix news (Ticker: AUGX), a resource for investors and traders seeking the latest updates and insights on Augmedix stock.
Augmedix Inc (AUGX) is a leading telemedicine charting service for healthcare providers, streamlining EHR documentation and saving providers 17 hours weekly. By leveraging wearable technology, Augmedix connects clinics with its charting service, allowing providers to focus on patient care.
Augmedix caters to the ambulatory, clinical, and hospital segments of the U.S. patient care services market, offering products that address medical note documentation needs. Its innovative solutions extract data from natural clinician-patient conversations, converting it in real-time to medical notes that seamlessly integrate with electronic health records (EHR).
The company generates revenue through service fees charged to customers for subscribing to its remote medical documentation and clinical support products. Augmedix is dedicated to empowering clinicians, enhancing care delivery, and improving operational outcomes.
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Augmedix, Inc. (Nasdaq: AUGX) expects fourth quarter 2023 revenue to be above guidance, with approximately $12.5 million, leading to a full-year 2023 revenue of about $44.7 million. The company also anticipates an annual recurring revenue of $51 million, a 46% increase from the previous year, and has seen a 41% year-over-year increase in clinicians in service. Augmedix Go, the company's latest product, is now generally available in the ambulatory setting. The CEO, Manny Krakaris, expressed confidence in the company's growth plans and its ability to unburden clinicians and improve healthcare organizations' operating efficiency. Additionally, the company expects to report financial results for the fourth quarter of 2023 in March.
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Augmedix (Nasdaq: AUGX) integrates Google Cloud’s MedLM technology into its ambient medical documentation products to enhance performance. The new technology aims to improve the quality of medical note output, provide faster turnaround times, and enable rapid expansion into more sub-specialties through 2024. The integration will also be incorporated into the recently launched Augmedix Go, a clinician-controlled mobile app.
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Augmedix, Inc. (AUGX) closes a registered public offering of common stock for $28.75 million, with lead investments from HCA Healthcare, Inc. (HCA) and Redmile Group, LLC. The capital will be used to expand the commercial team, accelerate automation initiatives, and develop integrations and partnerships to drive incremental revenue growth. The company aims to reach cash flow breakeven by the end of 2025.
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Augmedix, Inc. (Nasdaq: AUGX) Announces Pricing of Public Offering of Common Stock at $4.00 per Share, Upsized to 6,250,000 Shares. Expected Gross Proceeds of $25 million.
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Augmedix, Inc. (Nasdaq: AUGX) has announced the commencement of an underwritten public offering of 5,500,000 shares of its common stock, with an option for underwriters to purchase an additional 15% of the shares. The company intends to use the net proceeds for increased investment in sales and marketing, research and development, general and administrative costs, working capital, capital expenditures, and general corporate purposes. A material portion of the net proceeds will be allocated toward the acceleration of Augmedix’s product roadmap, including offerings for use in the emergency department care setting.
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Augmedix reported strong financial results for the third quarter of 2023, with revenue of $11.8 million, a 50% increase compared to the same period last year. The company achieved a net revenue retention rate of 157% for Health Enterprise customers. Gross margin increased by 390 basis points to 49.5%. The company's GAAP net loss narrowed to $4.4 million, and EBITDA losses declined to $3.7 million. Augmedix also launched Augmedix Go, a fully automated scalable AI medical documentation solution, and established strategic collaborations with three digital health companies.
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Augmedix (Nasdaq: AUGX) will report financial results for Q3 2023 on November 6, 2023, after the market closes. The conference call will be held at 1:30 p.m. PT / 4:30 p.m. ET and can be accessed through the company's website or by phone. The webcast will be available for replay.
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Augmedix announces strategic collaborations with Myndshft, Ellipsis Health, and The Sullivan Group to enhance healthcare enterprise efficiency and patient outcomes
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Augmedix announces the early access release of Augmedix Go, a clinician-controlled mobile app that uses generative AI to create automated draft medical notes after each patient visit. The product is highly scalable and priced to appeal to a broad base of healthcare systems. It offers features such as summaries of key medical events and reminders of unfinished notes. Augmedix Go can be integrated into leading electronic health record systems.
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Augmedix appoints inaugural AI Advisory Council members
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FAQ
What is the current stock price of Augmedix (AUGX)?
The current stock price of Augmedix (AUGX) is $2.35 as of October 2, 2024.
What is the market cap of Augmedix (AUGX)?
The market cap of Augmedix (AUGX) is approximately 116.2M.
What does Augmedix (AUGX) offer to healthcare providers?
Augmedix provides a telemedicine charting service that streamlines EHR documentation, saving providers significant time.
How does Augmedix help healthcare organizations?
Augmedix's products extract data from clinician-patient conversations, convert it into medical notes, and seamlessly transfer them to EHR systems.
How does Augmedix generate revenue?
The company charges service fees to customers for subscribing to its remote medical documentation and clinical support products.
What segments of the U.S. patient care services market does Augmedix operate in?
Augmedix caters to the ambulatory, clinical, and hospital segments of the U.S. patient care services market.
What is the core focus of Augmedix's products?
Augmedix's products focus on addressing medical note documentation needs for healthcare organizations, from large hospitals to individual practitioners.
Augmedix, Inc.
Nasdaq:AUGX
AUGX Rankings
AUGX Stock Data
116.16M
48.69M
1.5%
84.78%
2.16%
Health Information Services
Services-business Services, Nec
United States of America
SAN FRANCISCO