Lucid Diagnostics Inc.

Listed Company

LUCDCIK 0001799011NasdaqEmerging GrowthSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-58.01M

Total Assets

$40.45M

Equity

$10.94M

Shares Out

176.95M

Op. Cash Flow

$-46.50M

Business

Lucid Diagnostics Inc. is a commercial-stage medical diagnostics company focused on detecting esophageal precancer and cancer in at-risk gastroesophageal reflux disease (GERD) patients. It offers the EsoGuard Esophageal DNA Test, a targeted NGS methylation assay, performed on samples collected with the EsoCheck swallowable, noninvasive esophageal cell collection device. The company operates through its clinical laboratory subsidiary LucidDx Labs and related commercialization programs, including test centers, satellite and mobile collection, telemedicine referrals, direct contracting and event-based screening. Lucid distributes primarily in the United States and holds CE Mark certifications for European markets while pursuing expanded payer coverage and regulatory approval.

Summary from filing dated 2025-03-24

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	5	4	—	—	—
Cost of revenue	7	7	—	—	585,000
Sales and marketing	18	16	16	16	5
General and administrative	24	20	19	24	13
Amortization of acquired intangible assets	421,000	688,000	2	2	0
Research and development	6	6	7	11	9
Total operating expenses	54	50	—	—	—
Operating loss	−50	−46	−48	−56	−27
Interest income	386,000	322,000	—	—	—
Interest expense	−22,000	−26,000	—	—	—
Change in fair value - Senior Secured Convertible Note	−8	5	—	—	—
Debt extinguishments loss - Senior Secured Convertible Note	0	−5	−26,000	—	—
Equity issuance cost extinguishment	−1	0	—	—	—
Other income (expense), net	−8	523,000	—	—	—
Loss before provision for income tax	−58	−46	−53	−56	−28
Provision for income taxes	0	0	—	—	—
Net loss attributable to Lucid Diagnostics Inc.	−58	−46	−53	−56	−28
Net loss attributable to Lucid Diagnostics Inc. common stockholders	−71	−53	−53	—	—
Net loss per share attributable to Lucid Diagnostics Inc. common stockholders - basic and diluted (in dollars per share)	−0.69	−1.05	−1.26	−1.55	−1.51
Weighted average common shares outstanding, basic and diluted (in shares)	102	51	42	36	19

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash	35	22	—	—	54
Accounts receivable	643,000	45,000	45,000	17,000	200,000
Inventory	353,000	341,000	278,000	111,000	—
Prepaid expenses, deposits, and other current assets	2	2	3	2	3
Total current assets	37	25	22	24	57
Fixed assets, net	809,000	1	1	2	971,000
Operating lease right-of-use assets	2	3	1	2	—
Intangible assets, net	315,000	736,000	1	3	—
Other assets	47,000	1	1	1	725,000
Total assets	40	31	27	33	59
Accounts payable	970,000	1	1	1	1
Accrued expenses and other current liabilities	3	3	—	—	—
Operating lease liabilities, current portion	893,000	854,000	1	962,000	—
Senior Secured Convertible Notes - at fair value	24	19	14	—	—
Total current liabilities	29	24	29	8	4
Operating lease liabilities, less current portion	927,000	2	199,000	1	—
Total liabilities	30	25	30	9	4
Commitments and contingencies (Note 11)	—	—	—	—	—
Preferred stock, $0.001 par value, 20,000,000 shares authorized; Series B and Series B-1 Convertible Preferred Stock, issued and outstanding 54,274 and 54,419 as of December 31, 2025 and December 31, 2024, respectively	54	54	19	—	—
Common stock, $0.001 par value, 300,000,000 shares authorized as of December 31, 2025 and December 31, 2024, respectively; 131,098,762 and 63,071,950 shares issued and outstanding as of December 31, 2025 and December 31, 2024, respectively	131,000	63,000	42,000	41,000	35,000
Additional paid-in capital	231	155	130	121	97
Accumulated deficit	−274	−204	−151	−98	−42
Total Stockholders Equity (Deficit)	11	5	−2	23	55
Total Liabilities and Stockholders Equity (Deficit)	40	31	27	33	59

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization expense	872,000	1	2	2	4,000
Amortization of common stock payment for vendor service agreement	234,000	346,000	—	—	—
Accounts receivable	−601,000	0	−28,000	183,000	−200,000
Prepaid expenses and other current assets	−2	1	—	—	−2
Accounts payable	−270,000	96,000	89,000	−445,000	−665,000
Accrued expenses and other current liabilities	−110,000	−1	2	333,000	926,000
Net cash flows used in operating activities	−47	−44	−33	−30	−18
Purchase of equipment	−197,000	−296,000	—	−3	—
Net cash flows used in investing activities	−197,000	−646,000	−221,000	−4	−862,000
Proceeds issue of preferred stock	0	30	19	—	—
Proceeds issue of Senior Secured Convertible Notes	360,000	22	10	—	—
Payment repayment of Senior Secured Convertible Note	0	−4	—	—	—
Proceeds exercise of stock options	17,000	4,000	—	695,000	—
Proceeds issue common stock Employee Stock Purchase Plan	272,000	447,000	—	—	—
Net cash flows provided by financing activities	59	48	29	3	72
Net increase (decrease) in cash	12	3	−4	−31	54

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro