Lucid Diagnostics reports Q2 revenue of $1.5 million, adds coverage milestone

Lucid Diagnostics (NASDAQ: LUCD ) released second-quarter financial results and hosted an earnings call on Thursday.

Read the complete transcript below.

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For comprehensive financial data and transcripts, visit The full earnings call is available at Summary Lucid Diagnostics Inc reported a revenue increase of 17% from the previous quarter, achieving $1.5 million with 2,770 EsoGuard tests performed.

The company secured its first laboratory benefit manager commercial coverage policy from Concert, expected to influence other LBMs and increase coverage.

Awaiting Medicare draft LCD publication, Lucid is optimistic about securing favorable coverage, which could impact 40-50% of its addressable market.

Operational highlights include building a robust pipeline of VA centers and engaging with health systems to integrate EsoGuard testing.

Financially, the company maintained a cash balance of $33.4 million with a quarterly burn rate of $11.3 million and completed a stock offering yielding $16.8 million in net proceeds.

Management highlighted strategic focus areas such as cost-effectiveness modeling, increasing contracted events, and leveraging AI in sales training.

Future guidance includes maintaining test volume targets and the potential for increased commercial activities upon Medicare policy updates.

Full Transcript OPERATOR Good morning, ladies and gentlemen, and welcome to the Lucid Diagnostics Inc 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 star zero 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 Inc Vice President of Investor Relations.

Please go ahead.

Matt Riley, Vice President of Investor Relations Thank you, operator, and good morning, everyone.

Thank you for participating in today's business update call.

Joining me today on the call are Dr.

Lishan Aklog, Chairman and Chief Executive Officer of Lucid Diagnostics Inc, along with Dennis McGrath, Chief Financial Officer.

The press release announcing our business update and financial results is available on Lucid's website.

Please take a moment to read the disclaimers about forward-looking statements in the press release.

The business update press release and conference call include forward-looking statements, and these forward-looking statements are subject to known and unknown risks and uncertainties that may cause actual results to differ materially from statements made.

Factors that could cause actual results to differ are described in the disclaimer and in our filings with the SEC.

For a list and a description of these and other important risks and uncertainties that may affect future operations, see Part I, Item 1A, entitled Risk Factors, in Lucid Diagnostics Inc's most recent Annual Report on Form 10-K filed with the SEC and any subsequent updates filed in Quarterly Reports on Form 10-Q and subsequent Forms 8-K.

Except as required by law, Lucid disclaims any intention or obligation to publicly update or revise any forward-looking statements to reflect changes in expectations or in events, conditions, or circumstances on which the expectations may be based, or that may affect the likelihood that actual results will differ from those contained in the forward-looking statements.

I would now like to turn the call over to Dr.

Lishan Aklog.

Lishan Aklog, Chairman and Chief Executive Officer Thank you, Matt, and good morning, everyone.

Thank you for joining us today and for your continued engagement and support.

We continue to make strong progress across key commercialization initiatives as we await Medicare draft LCD publication, and we're eager to discuss these today.

Let's begin with some key highlights from the second quarter and recent.

This quarter our laboratory performed 2,770 EsoGuard tests and we recognized 1.5 million in revenue.

Revenue is up about 17% from the prior quarter, and our volume remains within our target range of approximately 2,500 to 3,000 tests.

This reflects increased commercial focus on testing opportunities that are likely to drive revenue.