Augmedix Exits Calendar 2023 With Expected $51M In Annual Recurring Revenue; Sees Q4 Revenue Of ~$12.5M
Portfolio Pulse from Benzinga Newsdesk
Augmedix, Inc. (NASDAQ:AUGX) reported preliminary revenue results for Q4 2023, with an expected revenue of approximately $12.5 million, surpassing the guidance of $12.3 million. The company anticipates an Annual Recurring Revenue (ARR) of about $51 million, a 46% increase from the previous year. The number of clinicians in service rose by 41% year-over-year. Augmedix launched Augmedix Go in the ambulatory setting in mid-December and plans to release full financial results and host an earnings call in March. The reported figures are unaudited and subject to change.
January 05, 2024 | 1:20 pm
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Augmedix reported a positive preliminary revenue for Q4 2023, with expected revenue of $12.5M, surpassing guidance, and a significant increase in ARR to $51M. The company also saw a substantial increase in clinicians in service and launched a new product, Augmedix Go.
The positive preliminary revenue results and ARR growth indicate strong company performance and market adoption, which is likely to be viewed favorably by investors. The launch of Augmedix Go and the increase in clinicians using the service suggest expansion and potential for future growth, which could positively impact the stock price in the short term.
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IMPORTANCE 90
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