Lucid Diagnostics Reports Q2 2025 Financial Results

Pavmed ( (PAVM) ) has released its Q2 earnings. Here is a breakdown of the information Pavmed presented to its investors.

Lucid Diagnostics Inc., a subsidiary of PAVmed Inc., is a commercial-stage medical diagnostics company focused on cancer prevention, particularly targeting patients with GERD at risk of developing esophageal precancer and cancer. The company utilizes its EsoGuard Esophageal DNA Test, a noninvasive tool designed for early detection of esophageal precancer.

In its second quarter of 2025, Lucid Diagnostics reported processing 2,756 EsoGuard tests, generating $1.2 million in revenue. The company ended the quarter with over $30 million in proforma cash, bolstered by a public offering that netted approximately $16.1 million. This financial position extends their operational runway into 2026, as they anticipate upcoming reimbursement milestones.

Key highlights from the quarter include the initiation of patient testing under a new insurance policy with Highmark Blue Cross Blue Shield and a partnership with Hoag to expand EsoGuard testing access. Additionally, Lucid joined the Russell 2000 and 3000 Indexes, enhancing its visibility among institutional investors. The company is also preparing for a significant Medicare coverage determination meeting for EsoGuard.

Financially, Lucid reported operating expenses of $12.5 million and a GAAP net loss of $7.9 million, translating to a loss of $0.08 per share. On a non-GAAP basis, the adjusted loss was approximately $9.9 million or $0.10 per share. Despite these losses, the company maintains a strong cash position, which supports its strategic initiatives.

Looking ahead, Lucid Diagnostics remains focused on securing Medicare coverage for EsoGuard and expanding its market presence. The company’s management is optimistic about achieving these milestones, which are expected to accelerate the commercialization of EsoGuard and enhance its financial performance.