Lucid Diagnostics Announces Record Quarterly EsoGuard® Test Volume
Lucid Diagnostics (LUCD) reported record-breaking quarterly performance for its EsoGuard® Esophageal DNA Tests in Q4 2024, with 4,042 tests completed. This represents a 45% increase from Q3 2024 and an 84% year-over-year growth from Q4 2023.
The company is focusing on three key commercial revenue drivers: traditional claims submissions, direct contracting with employers and self-insured entities, and a new cash pay program targeting concierge medicine practices. Lucid aims to secure Medicare coverage and expects these initiatives to boost revenue growth and expand EsoGuard testing accessibility.
Full financial results for Q4 and full-year 2024 are expected to be released in mid-March 2025. The current figures are preliminary and subject to quarter-end closing and audit procedures.
Lucid Diagnostics (LUCD) ha riportato risultati record per il quarto trimestre del 2024 per i suoi EsoGuard® Esophageal DNA Tests, con 4.042 test completati. Questo rappresenta un aumento del 45% rispetto al terzo trimestre del 2024 e un crescita dell'84% su base annua rispetto al quarto trimestre del 2023.
L'azienda si sta concentrando su tre principali motori di entrate commerciali: presentazione di richieste tradizionali, contratti diretti con datori di lavoro ed entità autoassicurate, e un nuovo programma di pagamento in contante indirizzato alle pratiche di medicina concierge. Lucid mira a garantire la copertura Medicare e prevede che queste iniziative contribuiranno alla crescita dei ricavi e ad espandere l'accessibilità ai test EsoGuard.
I risultati finanziari completi per il quarto trimestre e l'intero anno 2024 saranno resi noti a metà marzo 2025. Le cifre attuali sono preliminari e soggette alle procedure di chiusura e revisione di fine trimestre.
Lucid Diagnostics (LUCD) reportó un rendimiento trimestral récord para sus EsoGuard® Esophageal DNA Tests en el cuarto trimestre de 2024, con 4,042 pruebas completadas. Esto representa un incremento del 45% en comparación con el tercer trimestre de 2024 y un crecimiento del 84% interanual respecto al cuarto trimestre de 2023.
La compañía se está centrando en tres motores clave de ingresos comerciales: presentaciones de reclamaciones tradicionales, contratos directos con empleadores y entidades autoaseguradas, y un nuevo programa de pago en efectivo dirigido a prácticas de medicina concierge. Lucid pretende asegurar la cobertura de Medicare y espera que estas iniciativas impulsen el crecimiento de los ingresos y expandan la accesibilidad de las pruebas EsoGuard.
Se espera que los resultados financieros completos para el cuarto trimestre y el año completo de 2024 se publiquen a mediados de marzo de 2025. Las cifras actuales son preliminares y están sujetas a los procedimientos de cierre y auditoría de fin de trimestre.
Lucid Diagnostics (LUCD)는 2024년 4분기 동안 EsoGuard® 식도 DNA 테스트에서 4,042개의 테스트를 완료하며 사상 최대의 분기 성과를 보고했습니다. 이는 2024년 3분기 대비 45% 증가와 2023년 4분기 대비 84%의 연간 성장률을 나타냅니다.
회사는 세 가지 주요 상업적 수익 동력에 집중하고 있습니다: 전통적인 청구 제출, 고용주 및 자가 보험 단체와의 직접 계약, 그리고 컨시어지 의사 관행을 목표로 하는 새로운 현금 지급 프로그램입니다. Lucid는 Medicare 커버리지를 확보하는 것을 목표로 하며 이러한 이니셔티브가 수익 성장에 기여하고 EsoGuard 테스트 접근성을 확대할 것으로 기대합니다.
2024년 4분기 및 전체 연도의 전체 재무 결과는 2025년 3월 중순에 발표될 예정입니다. 현재 수치는 잠정적이며 분기 종료 및 감사 절차에 따라 달라질 수 있습니다.
Lucid Diagnostics (LUCD) a annoncé des performances trimestrielles record pour ses EsoGuard® Esophageal DNA Tests au quatrième trimestre 2024, avec 4 042 tests réalisés. Cela représente une augmentation de 45% par rapport au troisième trimestre 2024 et une croissance de 84% d'une année sur l'autre par rapport au quatrième trimestre 2023.
L'entreprise se concentre sur trois principales sources de revenus commerciaux : les soumissions de demandes traditionnelles, les contrats directs avec les employeurs et les entités autosuffisantes, et un nouveau programme de paiement comptant ciblant les pratiques de médecine concierge. Lucid vise à obtenir une couverture Medicare et s'attend à ce que ces initiatives stimulent la croissance des revenus et augmentent l'accessibilité des tests EsoGuard.
Les résultats financiers complets pour le quatrième trimestre et l'année complète 2024 devraient être publiés à la mi-mars 2025. Les chiffres actuels sont préliminaires et soumis aux procédures de clôture et d'audit de fin de trimestre.
Lucid Diagnostics (LUCD) hat eine rekordverdächtige vierteljährliche Leistung für seine EsoGuard® Esophageal DNA Tests im vierten Quartal 2024 gemeldet, mit insgesamt 4.042 Tests. Dies entspricht einem Anstieg von 45% im Vergleich zum dritten Quartal 2024 und einem Wachstum von 84% im Jahresvergleich zum vierten Quartal 2023.
Das Unternehmen konzentriert sich auf drei zentrale Umsatztreiber: traditionelle Schadensmeldungen, direkte Verträge mit Arbeitgebern und selbstversicherten Stellen sowie ein neues Barzahlungssystem, das auf Concierge-Medizinpraktiken abzielt. Lucid strebt an, die Medicare-Abdeckung zu sichern, und erwartet, dass diese Initiativen das Umsatzwachstum steigern und die Zugänglichkeit der EsoGuard-Tests erweitern werden.
Die vollständigen finanziellen Ergebnisse für das vierte Quartal und das Gesamtjahr 2024 werden Mitte März 2025 veröffentlicht. Die aktuellen Zahlen sind vorläufig und unterliegen den Abschluss- und Prüfungsverfahren zum Quartalsende.
- Record quarterly volume of 4,042 EsoGuard tests in Q4 2024
- 45% sequential growth from Q3 2024
- 84% year-over-year growth from Q4 2023
- None.
Insights
The record-breaking 4,042 EsoGuard® tests performed in Q4 2024, marking a
The three-pronged revenue strategy - traditional insurance claims, direct employer contracting and cash-pay concierge medicine - represents a sophisticated approach to monetization. This diversification reduces dependency on Medicare coverage while targeting both institutional and affluent individual payers. The cash-pay program particularly targets a lucrative segment that values preventive care and typically yields higher margins.
For a small-cap diagnostic company with a market cap of
The volume metrics reveal compelling growth dynamics with clear revenue implications. The
The multi-channel revenue approach is particularly noteworthy. Direct employer contracting can provide stable, contracted revenue streams, while the concierge medicine cash-pay program could deliver higher per-test margins. This diversification strategy could accelerate the path to profitability and reduce reliance on traditional insurance reimbursement models.
The timing of the full financial results in mid-March will be important for validating whether this volume growth translates effectively into revenue. Investors should monitor the revenue per test metrics across different payment channels and the progress toward Medicare coverage, which remains a significant potential value driver.
Quarterly test volume of over 4,000 tests represented sequential increase of 45 percent
"Our record fourth quarter performance caps off a strong year and positions us for a transformational 2025," said Lishan Aklog, M.D., Lucid's Chairman and Chief Executive Officer. "We're entering this year with significant momentum and with a continued focus on translating EsoGuard test volume into revenue through our three key commercial revenue drivers: traditional claims submissions; direct contracting with employers and self-insured entities; and our new cash pay program focused on concierge medicine practices. We anticipate these strategic initiatives combined with our ongoing efforts to secure Medicare coverage will accelerate revenue growth and expand awareness of, demand for, and access to EsoGuard esophageal precancer testing."
Lucid expects to report full results for the three and twelve months ended December 31, 2024, in mid-March 2025. The preliminary estimates in this press release are based on management's initial review of operations for the quarter ended December 31, 2024, and are subject to adjustment based upon quarter-end closing and audit procedures.
About Lucid Diagnostics
Lucid Diagnostics Inc. is a commercial-stage, cancer prevention medical diagnostics company, and subsidiary of PAVmed Inc. (Nasdaq: PAVM). Lucid is focused on the millions of patients with gastroesophageal reflux disease (GERD), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer. Lucid's EsoGuard® Esophageal DNA Test, performed on samples collected in a brief, noninvasive office procedure with its EsoCheck® Esophageal Cell Collection Device, represent the first and only commercially available tools designed with the goal of preventing cancer and cancer deaths through widespread, early detection of esophageal precancer in at-risk patients.
For more information, please visit www.luciddx.com and for more information about its parent company PAVmed, please visit www.pavmed.com.
Forward-Looking Statements
This press release includes forward-looking statements that involve risk and uncertainties. Forward-looking statements are any statements that are not historical facts. Such forward-looking statements, which are based upon the current beliefs and expectations of Lucid's management, are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. Risks and uncertainties that may cause such differences include, among other things, volatility in the price of Lucid's common stock; general economic and market conditions; the uncertainties inherent in research and development, including the cost and time required to advance Lucid's products to regulatory submission; whether regulatory authorities will be satisfied with the design of and results from Lucid's clinical and preclinical studies; whether and when Lucid's products are cleared by regulatory authorities; market acceptance of Lucid's products once cleared and commercialized; Lucid's ability to raise additional funding as needed; and other competitive developments. In addition, Lucid continues to monitor the COVID-19 pandemic and the pandemic's impact on Lucid's businesses. These factors are difficult or impossible to predict accurately and many of them are beyond Lucid's control. In addition, new risks and uncertainties may arise from time to time and are difficult to predict. For a further list and description of these and other important risks and uncertainties that may affect Lucid's future operations, see Part I, Item 1A, "Risk Factors," in Lucid's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission, as the same may be updated in Part II, Item 1A, "Risk Factors" in any Quarterly Report on Form 10-Q filed by Lucid Diagnostics after its most recent Annual Report. Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statement to reflect any change in its expectations or in events, conditions, or circumstances on which those expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.
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SOURCE Lucid Diagnostics
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