Why Is Augmedix (AUGX) Stock Down 41% Today?

Augmedix (NASDAQ:AUGX) stock is sliding lower on Tuesday after the medical documentation solutions company released its Q1 2024 earnings report.The bad news for AUGX investors comes from its outlook update. This has the company expecting its 2024 revenue to range from $52 to $55 million. This would see it missing Wall Street’s revenue estimate of $61.15 million for the year.Augmedix CEO Manny Krakaris explains the reason for this low revenue outlook below.“We have observed a slow-down in purchasing commitme ...