Lucid Diagnostics Inc (NAS:LUCD)

Q2 2026 Lucid Diagnostics Inc Earnings Call Transcript

Aug 13, 2026 / 12:30 PM GMT

Release Date Price: $0.9649 (-1.98%)

Transcript 8-K10-Q

Key Points

Positve

Revenue increased 17% quarter-over-quarter to $1.5 million, with test volume within the target range of 2,500-3,000.
Secured first laboratory benefit manager (LBM) coverage policy from Concert, which deemed EsoGuard medically necessary and improved health outcomes, with three client plans already adopting it.
VA engagement progressing well with positive clinician feedback and a robust pipeline of centers, expected to contribute to revenue in the new fiscal year.
Cost-effectiveness model, developed with ACG guideline lead author, shows promising results indicating EsoGuard is cost-effective versus current care.
Strategic shift toward higher-revenue opportunities (Medicare, VA, contracted plans) is improving revenue recognition, with 40% of Q2 volume in this category, up substantially from prior quarter.

Negative

Still awaiting Medicare draft LCD publication, with ongoing CMS backlog causing delays, though signs of loosening exist.
Revenue recognition remains low at 19% of billable value due to collection uncertainty, with most claims recognized only upon cash collection.
Denial rates remain high, with 72% of adjudicated claims denied, primarily for medical necessity, prior authorization, or missing records.
Cash burn remains elevated at $11.3 million per quarter, with no significant reduction expected as commercial activities increase.
VA has not yet contributed to test volume, with contracts and purchase orders still in progress, delaying potential revenue impact.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

LUCD.OQ - Lucid Diagnostics Inc
Q2 2026 Lucid Diagnostics Inc Earnings Call
Aug 13, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, ladies and gentlemen, and welcome to the Lucid Diagnostics Second Quarter 2026 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 *0 for the operator.

This call is being recorded on Thursday, August 13, 2026.

I would now like to turn the conference over to Matt Riley, Lucid Diagnostics Vice President of Investor. Please go ahead.

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Unidentified_2 [2]
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