10-Q - Lucid Diagnostics Inc. (0001799011) (Filer)

Tue, May 13, 9:02 PM (36 days ago)

**Lucid Diagnostics Inc. (LUCD) Q1 2025 Financial Summary** **Financial Health and Performance:** - **Revenue:** $828,000 (down 20% from $1,001,000 in Q1 2024). - **Operating Expenses:** $13,315,000 (up from $11,793,000 in Q1 2024). - **Operating Loss:** $12,487,000 (up from $10,792,000 in Q1 2024). - **Net Loss:** $26,908,000 (up from $10,612,000 in Q1 2024). - **Cash Flow from Operations:** Negative $12,465,000 (similar to negative $12,612,000 in Q1 2024). - **Cash Position:** $25,238,000 (up from $22,358,000 in Q1 2024). **Profit Margins and Cash Flow:** - **Gross Margin:** Negative due to high operating expenses. - **Operating Margin:** Negative 1514% (down from negative 1077% in Q1 2024). - **Net Margin:** Negative 3271% (down from negative 1059% in Q1 2024). - **Cash Flow from Financing Activities:** Positive $15,438,000 (up from $18,522,000 in Q1 2024). **Earnings Changes and Quarterly Performance:** - **Earnings per Share (EPS):** Negative $0.52 (down from negative $0.40 in Q1 2024). - **Weighted Average Shares Outstanding:** 68,796,392 (up from 45,014,410 in Q1 2024). **Trends and Uncertainties:** - **Revenue Trends:** Decreasing revenue due to lower test volumes and reimbursement challenges. - **Expense Trends:** Increasing expenses due to higher sales and marketing, general and administrative, and research and development costs. - **Uncertainties:** Dependence on third-party reimbursement, regulatory approvals, and ability to raise additional capital. **Future Operations and Impact:** - **Strategic Initiatives:** Focus on expanding insurance reimbursement, increasing test volumes, and developing new products. - **Funding:** Plans to continue financing operations through equity and debt offerings. - **Going Concern:** Substantial doubt about the ability to continue as a going concern within one year due to recurring losses and negative cash flows. **Key Metrics:** - **Current Ratio:** 0.75 (down from 1.04 in Q1 2024). - **Quick Ratio:** 0.68 (down from 0.97 in Q1 2024). - **Debt to Equity:** High due to significant convertible notes and preferred stock. **Conclusion:** Lucid Diagnostics Inc. faced significant financial challenges in Q1 2025, with decreasing revenue, increasing expenses, and substantial net losses. The company's ability to continue operations depends on securing additional financing and expanding reimbursement coverage for its EsoGuard test. The going concern uncertainty highlights the need for strategic initiatives to improve financial performance and ensure long-term sustainability.