Lucid Diagnostics Inc. (LUCD) came out with a quarterly loss of $0.1 per share versus the Zacks Consensus Estimate of a loss of $0.07. This compares to a loss of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -42.86%. A quarter ago, it was expected that this company would post a loss of $0.06 per share when it actually produced a loss of $0.1, delivering a surprise of -66.67%.Over the last four quarters, the company has ...

Lucid Diagnostics (NasdaqCM:LUCD) Q4 2025 Earnings call March 26, 2026 08:30 AM ET Company ParticipantsDennis McGrath - CFOJeremy Pearlman - Senior Research AssociateLishan Aklog - Chairman and CEOMatt Riley - VP of Investor RelationsConference Call ParticipantsKyle Mikson - Managing Director and Senior Research AnalystMark Massaro - Managing Director and Life Science and Diagnostic Tools AnalystMike Matson - Senior AnalystOperatorGood morning, and welcome to the Lucid Diagnostics Fourth Quarter 2025 Busine ...

Lucid Diagnostics (NasdaqCM:LUCD) Q4 2025 Earnings call March 26, 2026 08:30 AM ET Company ParticipantsDennis McGrath - CFOJeremy Pearlman - Senior Research AssociateLishan Aklog - Chairman and CEOMatt Riley - VP of Investor RelationsConference Call ParticipantsKyle Mikson - Managing Director and Senior Research AnalystMark Massaro - Managing Director and Life Science and Diagnostic Tools AnalystMike Matson - Senior AnalystOperatorGood morning, and welcome to the Lucid Diagnostics fourth quarter 2025 busine ...

Lucid Diagnostics (NasdaqCM:LUCD) Q4 2025 Earnings call March 26, 2026 08:30 AM ET Speaker7Good morning, and welcome to the Lucid Diagnostics fourth quarter 2025 business update conference call. At this time, all lines are in listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. Please note this event is being recorded. I would now like to turn the conference over ...

Nasdaq: LUCD Q4 2025 Business Update March 26, 2026 Lishan Aklog MD Dennis McGrath Chairman & CEO CFO Disclaimer 2 4 – 4Q25 EsoGuard test volume: 3,664 – 4Q25 Revenue: $1.5M – Awarded U.S. Department of Veterans Affairs (VA) contract for EsoGuard, expanding access across the nation's largest integrated healthcare system – Announced positive data from the largest reported real-world experience of esophageal precancer detection, evaluating EsoGuard and EsoCheck in nearly 12,000 at-risk patients Business Updat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to _____ Commission File Number: 001-40901 LUCID DIAGNOSTICS INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 82-5488042 ...

Core Insights - Minot Light Capital Partners reported a net return of 7.6% for Q3 2025, which underperformed against benchmarks, particularly the micro-cap benchmark's return of 17.1% [1] - The fund's top five holdings were highlighted, indicating the best investment picks for 2025 [1] Company Analysis: Lucid Diagnostics Inc. - Lucid Diagnostics Inc. (NASDAQ:LUCD) is a commercial-stage medical diagnostics technology company with a one-month return of 0.92% and a 52-week gain of 43.92% [2] - As of December 23, 2025, Lucid Diagnostics' stock closed at $1.10 per share, with a market capitalization of $144.209 million [2] - Lucid Diagnostics was noted as the second biggest detractor in the portfolio for the quarter, despite its FDA-approved DNA test, EsoGuard, which targets a multi-billion dollar market opportunity for early detection of esophageal precancer and cancer [3] - The company has strong clinical data and a unique market position, but adoption has been hindered by a lack of reimbursement [3]

Core Insights - Lucid Diagnostics Inc. reported a quarterly loss of $0.1 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.06, marking an earnings surprise of -66.67% [1] - The company generated revenues of $1.21 million for the quarter ended September 2025, missing the Zacks Consensus Estimate by 6.85% and showing a slight increase from $1.17 million a year ago [2] - The stock has increased approximately 27% since the beginning of the year, outperforming the S&P 500's gain of 16.4% [3] Financial Performance - Over the last four quarters, Lucid Diagnostics has not surpassed consensus EPS estimates, with the current consensus EPS estimate for the upcoming quarter at -$0.07 and for the current fiscal year at -$0.35 [2][7] - The company has topped consensus revenue estimates only once in the last four quarters [2] Market Outlook - The earnings outlook and estimate revisions trend for Lucid Diagnostics were favorable ahead of the earnings release, resulting in a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [6] - The Medical - Instruments industry, to which Lucid Diagnostics belongs, is currently in the top 29% of Zacks industries, suggesting a positive industry outlook [8]

Financial Data and Key Metrics Changes - In Q3 2025, the company reported revenue of approximately $1.2 million from 2,841 EsoGuard tests, maintaining volume and revenue levels consistent with the previous quarter [5][22] - The quarterly burn rate was $10.3 million, slightly better than the average burn rate of the previous four quarters [22][28] - The company ended the quarter with $47.3 million in cash, bolstered by a public offering that netted approximately $27 million [9][22] Business Line Data and Key Metrics Changes - EsoGuard test volume remained within the target range of 2,500-3,000 tests per quarter, essential for ongoing engagements with commercial payers [5][8] - Revenue recognition for the majority of claims is based on the probability of collection, with 76% of claims submitted in Q3 adjudicated [26][30] Market Data and Key Metrics Changes - The company is focusing on expanding its market access, particularly targeting Medicare patients, which represent about 50% of the 30 million target population [7][8] - The company has strengthened its market access leadership team to enhance payer engagement and secure broader commercial insurance coverage [6][11] Company Strategy and Development Direction - The company is in the final stages of securing positive Medicare coverage policy outcomes, following a successful Contractor Advisory Committee meeting [4][9] - The strategy includes transitioning to target Medicare patients while maintaining volume with commercial payers [5][8] - The company is also hosting events to strengthen relationships with fire departments, focusing on esophageal cancer prevention [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the upcoming Medicare coverage, anticipating a draft local coverage determination soon [12][14] - The company is actively engaging with commercial payers and has seen positive movement in discussions, indicating a shift in strategy to pursue coverage even before Medicare approval [45][48] Other Important Information - The company has a strong pipeline of contracted testing events and is expanding its efforts to drive Medicare testing [20][19] - The company reported a non-GAAP net loss of $10.3 million for Q3, consistent with previous quarters [28][30] Q&A Session Summary Question: Can you provide insights on the recent CCLA meeting and its implications? - Management highlighted that the meeting was positive, with significant time spent discussing the company's CAC meeting, reinforcing confidence in the Medicare coverage process [34][35] Question: What is the expected timeline for the draft LCD? - Management indicated that they believe the timeline for the draft LCD publication is reasonable, with expectations for it to be issued by year-end 2025 [43][44] Question: How is the company engaging with commercial payers? - Management noted that there has been increased activity and positive movement in discussions with commercial payers, with expectations for positive coverage policies to emerge soon [45][48] Question: What is the conversion rate for referrals to EsoGuard tests? - Management stated that the conversion rate for patients referred for EsoGuard tests is over 90%, indicating strong follow-through on testing [78]

Business Performance - Lucid Diagnostics achieved a record quarterly revenue of $1.2 million in Q3 2024, a 20% increase compared to the previous quarter[6] - EsoGuard test volume reached 2,787 in Q3 2024[6] - Over 7,000 firefighters have undergone EsoGuard esophageal precancer testing[6] - Year-to-date revenue for 3Q24 reached $3.149 million, a $1.761 million increase compared to $1.388 million in 3Q23[34] Strategic Accomplishments - The ESOGUARD BE-1 clinical validation study was accepted for peer-reviewed publication[8] - A key patent underlying EsoGuard received a Notice of Allowance[8] - Lucid Diagnostics met with CMS Medicare Administrative Contractor (MAC) Palmetto GBA's Molecular Diagnostics Program (MolDX) to discuss EsoGuard clinical evidence package for upcoming submission for Medicare coverage[8] Financials - Cash reserves decreased from $24.920 million in 2Q24 to $14.489 million in 3Q24, a decrease of $10.431 million[32] - Net loss for 3Q24 was $(12.371) million, compared to $(14.208) million in 3Q23, an improvement of $1.837 million[34] - Non-GAAP adjusted loss per share improved from $(0.22) in 3Q23 to $(0.20) in 3Q24[34] - Shares outstanding increased from 49.3 million in 2Q24 to 51.6 million in 3Q24, an increase of 2.3 million shares[32]