Pavmed ( (PAVM) ) has released its Q4 earnings. Here is a breakdown of the information Pavmed presented to its investors.
PAVmed Inc. is a diversified commercial-stage medical technology company that operates in the medical device, diagnostics, and digital health sectors, with subsidiaries like Lucid Diagnostics and Veris Health focusing on cancer prevention diagnostics and personalized cancer care, respectively.
In its latest earnings report, PAVmed highlighted significant achievements, including record test volumes for Lucid Diagnostics and securing commercial insurance coverage for its EsoGuard test. The company also completed a debt restructuring and regained Nasdaq compliance, strengthening its financial position.
Key financial metrics from the report show that Lucid Diagnostics achieved a 45% sequential increase in EsoGuard test volumes, contributing $1.2 million in revenue for the fourth quarter of 2024. PAVmed’s financial restructuring efforts resulted in a GAAP net income of $1.3 million for the quarter, while the company also secured $2.4 million in financing for Veris Health to advance its implantable physiological monitor.
The company also reported a non-GAAP adjusted loss of $0.7 million for the quarter, reflecting stock-based compensation and other non-cash expenses. With cash and cash equivalents of $3.6 million at the start of 2025, PAVmed is positioned to pursue further growth and innovation.
Looking ahead, PAVmed’s management remains optimistic about the company’s future, emphasizing the potential for its subsidiaries to drive long-term success and sustainability through continued advancements and strategic initiatives.