Lucid Diagnostics Inc. (LUCD)
:LUCD
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Lucid Diagnostics (LUCD) AI Stock Analysis

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LUCD

Lucid Diagnostics

(NASDAQ:LUCD)

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Neutral 44 (OpenAI - 4o)
Rating:44Neutral
Price Target:
$1.00
▼(-20.00% Downside)
Lucid Diagnostics faces significant financial challenges with negative margins and high leverage. While there are strategic achievements and potential future growth from Medicare coverage, the current financial instability and valuation concerns weigh heavily on the stock's attractiveness.
Positive Factors
Medicare Coverage Progress
Securing Medicare coverage for EsoGuard could significantly boost revenue by expanding access to a large patient base, enhancing long-term growth prospects.
Strengthened Balance Sheet
A stronger balance sheet with increased cash reserves extends operational runway, providing financial stability and supporting strategic initiatives.
Market Access Team Enhancement
A strong market access team can improve payer relationships and reimbursement rates, driving long-term revenue growth and market penetration.
Negative Factors
Negative Margins
Persistent negative margins indicate profitability challenges, potentially limiting investment in growth and innovation over the long term.
High Leverage
High leverage can strain financial flexibility and increase risk, potentially impacting the company's ability to invest in growth opportunities.
Cash Flow Issues
Negative cash flow highlights operational inefficiencies and may limit the company's ability to sustain operations and fund future growth.

Lucid Diagnostics (LUCD) vs. SPDR S&P 500 ETF (SPY)

Lucid Diagnostics Business Overview & Revenue Model

Company DescriptionLucid Diagnostics (LUCD) is a medical diagnostics company focused on developing and commercializing innovative solutions for the early detection and prevention of gastrointestinal diseases, particularly esophageal cancer. The company operates primarily in the healthcare sector, leveraging its proprietary technology to provide non-invasive diagnostic tests that aid physicians in identifying precancerous conditions. Its core product, the EsoGuard test, is designed to analyze cells from the esophagus to detect early signs of cancer and other related disorders, facilitating timely intervention and improving patient outcomes.
How the Company Makes MoneyLucid Diagnostics generates revenue primarily through the sale of its diagnostic tests, notably the EsoGuard test. The company operates a direct-to-consumer model as well as partnerships with healthcare providers, hospitals, and laboratories that utilize its testing services. Revenue is derived from test reimbursements through insurance companies and government programs, as well as out-of-pocket payments from patients. Additionally, Lucid Diagnostics may explore strategic partnerships with pharmaceutical companies and healthcare systems to expand its market reach and enhance its service offerings, which could further contribute to its revenue streams.

Lucid Diagnostics Earnings Call Summary

Earnings Call Date:Nov 12, 2025
(Q3-2025)
|
% Change Since: |
Next Earnings Date:Mar 30, 2026
Earnings Call Sentiment Neutral
The call highlighted significant strategic achievements, including strengthening the market access team and positive progress towards Medicare coverage, which are expected to drive future growth. However, the company faced flat revenue growth and ongoing reimbursement challenges, impacting short-term financial performance.
Q3-2025 Updates
Positive Updates
Strengthened Market Access Team
Lucid Diagnostics has recruited a world-class market access team led by Danielle Shelfo, bringing strong relationships in the commercial payer space to secure coverage and reimbursement across major insurers.
Positive Medicare Coverage Progress
The Medicare Contract Advisory Committee meeting was extremely positive, with unanimous endorsement for EsoGuard Medicare coverage, potentially leading to a significant increase in future revenue.
Successful Financing and Strong Balance Sheet
Lucid Diagnostics completed an underwritten public offering, netting approximately $27 million, bolstering the balance sheet with $47 million in pro forma cash, extending the runway through 2026.
Firefighter Esophageal Cancer Prevention Summit
Lucid Diagnostics is hosting its first firefighter esophageal cancer prevention summit, fostering relationships with fire departments to bolster the pipeline of contracted testing events.
Negative Updates
Flat Revenue Growth
Revenue and test volume remained flat compared to the previous quarter, with $1.2 million in revenue and 2,841 tests conducted.
Debated Reimbursement Challenges
Ongoing reimbursement challenges persist, with a significant portion of claims resulting in denials due to being deemed medically unnecessary or requiring additional authorization.
High Operating Expenses
Non-GAAP operating expenses were reported at $11.5 million, slightly lower than the average for the last four quarters but still a significant financial burden.
Company Guidance
During the Lucid Diagnostics Inc. Third Quarter 2025 Business Update Conference Call, the company provided key metrics and insights regarding its performance and future outlook. The company reported a test volume of 2,841 tests and revenue of approximately $1.2 million for the third quarter, maintaining its target range of 2,500 to 3,000 tests per quarter. The balance sheet was strengthened with a $27 million public offering, resulting in $47 million in pro forma cash at quarter-end. The quarterly burn rate was $10.3 million, consistent with previous quarters. Lucid is focusing on expanding Medicare patient targeting, with up to 50% of its 30 million target population being Medicare-eligible. The company is also in the final stages of securing Medicare coverage for its EsoGuard test, following a positive Medicare Contract Advisory Committee (CAC) meeting. Additionally, Lucid is actively engaging with commercial payers, anticipating increased coverage beyond Medicare.

Lucid Diagnostics Financial Statement Overview

Summary
Lucid Diagnostics shows significant revenue growth, but negative margins and high leverage pose major concerns. The company struggles with profitability and cash flow, indicating weak financial health.
Income Statement
15
Very Negative
Lucid Diagnostics shows significant revenue growth in the TTM period, but this is overshadowed by negative margins across the board. The company struggles with profitability, as evidenced by negative gross, net, EBIT, and EBITDA margins. The high revenue growth rate is a positive sign, but the inability to convert this into profit is a major concern.
Balance Sheet
20
Very Negative
The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage, which poses a risk. The negative return on equity suggests that the company is not generating returns for shareholders. The equity ratio is moderate, but overall, the financial stability is questionable due to high leverage and negative equity in some periods.
Cash Flow
10
Very Negative
Cash flow analysis shows negative operating and free cash flows, with a high free cash flow to net income ratio indicating cash flow issues. The company has not been able to generate positive cash flow, which is critical for sustaining operations and growth. The free cash flow growth rate is positive in the TTM period, but this is not enough to offset the overall negative cash flow situation.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue1.21B4.35M2.43M377.00K500.00K0.00
Gross Profit-488.29M-3.92M-6.05M-3.24M-85.00K0.00
EBITDA-10.00B-44.34M-49.75M-54.23M-27.41M482.00
Net Income-10.44B-45.53M-52.67M-56.17M-28.08M-8.28M
Balance Sheet
Total Assets53.20M30.71M27.27M32.51M59.00M2.19M
Cash, Cash Equivalents and Short-Term Investments47.33M22.36M18.90M22.47M53.66M111.00K
Total Debt24.34M21.25M15.26M2.00M0.000.00
Total Liabilities27.36M25.32M29.58M9.46M4.26M15.71M
Stockholders Equity25.84M5.39M-2.31M23.05M54.74M-13.52M
Cash Flow
Free Cash Flow-44.18M-44.79M-33.04M-30.59M-18.53M-5.63M
Operating Cash Flow-43.78M-44.14M-32.82M-29.68M-17.67M-5.63M
Investing Cash Flow-405.00K-646.00K-221.00K-4.11M-862.00K0.00
Financing Cash Flow77.03M48.25M29.46M2.61M72.08M5.58M

Lucid Diagnostics Technical Analysis

Technical Analysis Sentiment
Negative
Last Price1.25
Price Trends
50DMA
1.13
Negative
100DMA
1.11
Negative
200DMA
1.22
Negative
Market Momentum
MACD
-0.03
Positive
RSI
42.08
Neutral
STOCH
27.84
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LUCD, the sentiment is Negative. The current price of 1.25 is above the 20-day moving average (MA) of 1.16, above the 50-day MA of 1.13, and above the 200-day MA of 1.22, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 42.08 is Neutral, neither overbought nor oversold. The STOCH value of 27.84 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for LUCD.

Lucid Diagnostics Risk Analysis

Lucid Diagnostics disclosed 9 risk factors in its most recent earnings report. Lucid Diagnostics reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Lucid Diagnostics Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
65
Neutral
$103.88M-20.783.64%16.88%
60
Neutral
-4.15%3.49%
55
Neutral
$289.04M26.83%-52.47%
51
Neutral
$7.86B-0.30-43.30%2.27%22.53%-2.21%
48
Neutral
$70.08M-1.20-73.73%15.59%4.13%
44
Neutral
$147.32M-331.24%5.01%20.76%
42
Neutral
$114.35M-1746.27%20.59%18.61%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
LUCD
Lucid Diagnostics
1.07
0.12
12.63%
ICAD
iCAD
3.87
2.35
154.61%
RCEL
Avita Medical
3.75
-8.68
-69.83%
XTNT
Xtant Medical Holdings
0.65
0.22
51.16%
LUNG
Pulmonx
1.49
-4.63
-75.65%
OWLT
Owlet
10.48
6.00
133.93%

Lucid Diagnostics Corporate Events

Lucid Diagnostics Reports Q3 2025 Financial Results
Nov 13, 2025

Lucid Diagnostics Inc. is a commercial-stage medical diagnostics company specializing in cancer prevention, particularly focusing on gastroesophageal reflux disease (GERD) and its potential to develop into esophageal cancer. The company utilizes innovative technologies like EsoGuard and EsoCheck for early detection of esophageal conditions.

Lucid Diagnostics’ Earnings Call: Strategic Wins Amid Challenges
Nov 13, 2025

Lucid Diagnostics Inc. recently held its earnings call, revealing a mixed sentiment. While the company celebrated strategic achievements, such as strengthening its market access team and making positive strides towards Medicare coverage, it also faced challenges. Flat revenue growth and ongoing reimbursement issues were highlighted as obstacles impacting short-term financial performance.

Business Operations and StrategyFinancial Disclosures
Lucid Diagnostics Gains Medicare Support for EsoGuard
Positive
Nov 12, 2025

Lucid Diagnostics reported its third-quarter 2025 financial results, highlighting the processing of 2,841 EsoGuard tests and revenue of $1.2 million. The company ended the quarter with over $47 million in cash, extending its financial runway through 2026. A significant development was the unanimous expert consensus at the Multi-Jurisdictional Contractor Advisory Committee meeting supporting Medicare coverage for EsoGuard, marking a crucial step towards securing transformative Medicare coverage. The company also strengthened its market access team and announced upcoming initiatives, including a summit focused on cancer prevention in the fire service.

The most recent analyst rating on (LUCD) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Lucid Diagnostics stock, see the LUCD Stock Forecast page.

Business Operations and StrategyExecutive/Board Changes
Lucid Diagnostics Appoints John R. Palumbo to Board
Positive
Sep 25, 2025

On September 25, 2025, Lucid Diagnostics announced the appointment of John R. Palumbo to its Board of Directors, effective September 22, 2025. Palumbo brings 40 years of healthcare leadership experience, including guiding early-stage companies through commercial growth. His appointment is expected to support Lucid’s strategic initiatives as it approaches key commercial milestones, particularly in addressing unmet needs in cancer prevention with its EsoGuard product.

The most recent analyst rating on (LUCD) stock is a Hold with a $1.00 price target. To see the full list of analyst forecasts on Lucid Diagnostics stock, see the LUCD Stock Forecast page.

Business Operations and StrategyPrivate Placements and Financing
Lucid Diagnostics Completes Public Offering for $26.9 Million
Positive
Sep 11, 2025

On September 11, 2025, Lucid Diagnostics Inc. announced the closing of its underwritten public offering of 28,750,000 shares of common stock at $1.00 per share, generating approximately $26.9 million in net proceeds. The funds are intended for working capital and general corporate purposes, with Canaccord Genuity LLC and BTIG, LLC acting as joint bookrunners, and Maxim Group LLC as co-manager. This offering, made under an existing shelf registration, aims to strengthen Lucid’s financial position and support its ongoing operations in the cancer prevention diagnostics market.

The most recent analyst rating on (LUCD) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Lucid Diagnostics stock, see the LUCD Stock Forecast page.

Private Placements and Financing
Lucid Diagnostics Announces Public Stock Offering
Neutral
Sep 10, 2025

On September 10, 2025, Lucid Diagnostics entered into an underwriting agreement for a public offering of its common stock, pricing each share at $1.00. The offering, managed by Canaccord Genuity LLC and BTIG, LLC, aims to raise $25 million, with potential to increase to $28.75 million if additional shares are purchased. The proceeds will support working capital and general corporate purposes, with the sale expected to close on September 11, 2025, subject to customary conditions.

The most recent analyst rating on (LUCD) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Lucid Diagnostics stock, see the LUCD Stock Forecast page.

Lucid Diagnostics Earnings Call: Optimism Amid Challenges
Sep 1, 2025

Lucid Diagnostics Inc. recently held its earnings call, revealing a cautiously optimistic outlook for the company’s future. The call was marked by positive developments such as significant revenue growth and successful partnerships, alongside challenges like revenue recognition and high operational costs. The focus remains on achieving Medicare coverage, a key milestone for the company.

Lucid Diagnostics Reports Q2 2025 Earnings
Aug 14, 2025

Lucid Diagnostics Inc. is a commercial-stage medical diagnostics company focused on cancer prevention, specifically targeting patients with gastroesophageal reflux disease (GERD) at risk of developing esophageal cancer. The company offers EsoGuard, a DNA assay, and EsoCheck, a non-invasive cell collection device, both based on patented technology licensed from Case Western Reserve University.

Business Operations and StrategyDelistings and Listing ChangesFinancial Disclosures
Lucid Diagnostics Advances Towards Medicare Coverage
Positive
Aug 13, 2025

Lucid Diagnostics reported financial results for the second quarter of 2025, with revenue of $1.2 million from 2,756 processed EsoGuard tests. The company ended the quarter with over $30 million in cash, extending its financial runway into 2026. Lucid is advancing towards securing Medicare coverage for EsoGuard, with a significant advisory committee meeting scheduled for September 4, 2025. The company has also initiated testing under a new insurance policy and partnered with Hoag to expand access to its testing programs. Additionally, Lucid joined the Russell 2000 and 3000 Indexes, enhancing its visibility among institutional investors.

The most recent analyst rating on (LUCD) stock is a Buy with a $2.50 price target. To see the full list of analyst forecasts on Lucid Diagnostics stock, see the LUCD Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Nov 13, 2025