The following is a summary of the Lucid Diagnostics Inc. (LUCD) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Lucid Diagnostics reported a Q3 2024 revenue of $1.2 million, reflecting a 20% increase quarter-on-quarter and representing a record for quarterly revenue.

• The test volume for Q3 was 2,787, maintaining levels similar to recent quarters, and saw a significant increase in test volume beginning October.

Business Progress:

• Lucid is pushing forward with EsoGuard, expanding commercial strategies and focusing on securing Medicare and commercial coverage. They plan to submit comprehensive clinical data to MolDx for EsoGuard Medicare coverage.

• A focus on concierge medicine and employer markets is aiming to convert test volume into revenue.

• Strategic hires from GRAIL are expected to bolster efforts in new markets like concierge medicine.

Opportunities:

• The final publication acceptance of the EsoGuard BE-1 clinical validation study is crucial for Medicare coverage, providing a significant commercial opportunity with 30 million at-risk patients and a $60 billion addressable market.

• Expansion in commercialization efforts targeting concierge medicine and employer-based screenings aims at capturing a larger share of the self-pay and employer insurance markets.

Risks:

• Seasonal variability and geographic concentration could affect test volumes and revenue stability.

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