Lucid Diagnostics Inc. (NASDAQ:LUCD) Q3 2023 Results Conference Call November 14, 2023 8:30 AM ET

Company Participants

Michael Parks - VP, IR

Dr. Lishan Aklog - Chairman, CEO

Dennis McGrath - EVP, CFO

Conference Call Participants

Kyle Mikson - Canaccord

Ross Osborn - Cantor Fitzgerald

Mike Matson - Needham & Co

Ed Woo - Ascendiant Capital

Operator

Good morning, and welcome to the Lucid Diagnostics Third Quarter 2023 Business Update Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note that this event is being recorded.

I would now like to turn the conference over to Michael Parks, VP, Investor Relations. Please go ahead.

Michael Parks

Thank you, operator. Good morning, everyone. Thank you for participating in today's third quarter 2023 business update call. The press release announcing our business update for the Company and financial results for the three and nine months ended September 30, 2023 is available on the Lucid website.

Please take a moment to read the disclaimer about forward-looking statements in this press release. The business update, press release and this conference call include forward-looking statements, and these forward-looking statements are subject to known and unknown risks and uncertainties that may cause the 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 U.S. Securities and Exchange Commission. For a list and description of these and other important risk factors and uncertainties that may affect future operations, see Part I, Item 1A entitled Risk Factors and Lucid's most recent annual report on Form 10-Q filed with the SEC and subsequent updates filed in quarterly reports on Form 10-Q and any subsequent Form 8-K filings. Except as required by law, Lucid disclaims any intentions or obligations 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, Chairman and CEO of Lucid Diagnostics. Dr. Aklog?

Dr. Lishan Aklog

Thanks, Mike, and thanks, everyone, for joining us this morning. I look forward to offering an update on Lucid's business as well as its finances. I don't think it's hyperbole to say that this third quarter has been the most important quarter in the Company's history. We crossed several critical milestones in translating test volume growth into revenue and revenue growth. We've had eight consecutive quarters of steady growth in test volume. We performed 2,575 commercial EsoGuard test which is 17% quarterly growth and 137% annual growth.