Lucid Diagnostics Inc. Financials
This page shows Lucid Diagnostics Inc. (LUCD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
Lucid Diagnostics Inc. has an operating margin of -1054.8%, meaning the company retains $-1055 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -1059.6% the prior year.
Lucid Diagnostics Inc.'s revenue grew 8.3% year-over-year to $4.7M, a solid pace of expansion. This earns a growth score of 47/100.
Lucid Diagnostics Inc. has a moderate D/E ratio of 2.70. This balance of debt and equity financing earns a leverage score of 47/100.
Lucid Diagnostics Inc.'s current ratio of 1.31 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 22/100, which could limit financial flexibility.
While Lucid Diagnostics Inc. generated -$46.5M in operating cash flow, capex of $197K consumed most of it, leaving -$46.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
Lucid Diagnostics Inc. generates a -530.5% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is up from -844.5% the prior year.
Lucid Diagnostics Inc. passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Lucid Diagnostics Inc. generates $0.80 in operating cash flow (-$46.5M OCF vs -$58.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Lucid Diagnostics Inc. earns $-2256.4 in operating income for every $1 of interest expense (-$49.6M vs $22K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lucid Diagnostics Inc. generated $4.7M in revenue in fiscal year 2025. This represents an increase of 8.3% from the prior year.
Lucid Diagnostics Inc.'s EBITDA was -$48.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 8.7% from the prior year.
Lucid Diagnostics Inc. reported -$58.0M in net income in fiscal year 2025. This represents a decrease of 27.4% from the prior year.
Cash & Balance Sheet
Lucid Diagnostics Inc. generated -$46.7M in free cash flow in fiscal year 2025, representing cash available after capex.
Lucid Diagnostics Inc. held $34.7M in cash against $0 in long-term debt as of fiscal year 2025.
Lucid Diagnostics Inc. had 177M shares outstanding in fiscal year 2025. This represents an increase of 164.2% from the prior year.
Margins & Returns
Lucid Diagnostics Inc.'s gross margin was -41.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs.
Lucid Diagnostics Inc.'s operating margin was -1054.8% in fiscal year 2025, reflecting core business profitability. This is up 4.8 percentage points from the prior year.
Lucid Diagnostics Inc.'s net profit margin was -1232.7% in fiscal year 2025, showing the share of revenue converted to profit. This is down 185.1 percentage points from the prior year.
Lucid Diagnostics Inc.'s ROE was -530.5% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 314.1 percentage points from the prior year.
Capital Allocation
Lucid Diagnostics Inc. invested $5.7M in research and development in fiscal year 2025. This represents a decrease of 5.2% from the prior year.
Lucid Diagnostics Inc. invested $197K in capex in fiscal year 2025, funding long-term assets and infrastructure.
LUCD Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.2M+4.1% | $1.2M+40.5% | $828K-30.8% | $1.2M+2.1% | $1.2M+20.1% | $976K-2.5% | $1.0M-3.8% | $1.0M |
| Cost of Revenue | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | $1.3M+1.4% | $1.3M-12.1% | $1.4M-1.7% | $1.5M-12.8% | $1.7M+21.4% | $1.4M-8.6% | $1.5M-21.7% | $1.9M |
| SG&A Expenses | $5.6M-0.2% | $5.6M-8.8% | $6.2M+5.1% | $5.9M+9.5% | $5.4M+10.0% | $4.9M+19.6% | $4.1M-3.2% | $4.2M |
| Operating Income | -$11.8M-3.3% | -$11.4M+8.8% | -$12.5M-0.9% | -$12.4M-5.8% | -$11.7M-4.5% | -$11.2M-3.7% | -$10.8M+5.8% | -$11.5M |
| Interest Expense | $2K-66.7% | $6K-33.3% | $9K+28.6% | $7K+600.0% | $1K-83.3% | $6K-50.0% | $12K+9.1% | $11K |
| Income Tax | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$10.4M-134.2% | -$4.4M+83.5% | -$26.9M-133.2% | -$11.5M+6.7% | -$12.4M-12.4% | -$11.0M-3.7% | -$10.6M+2.0% | -$10.8M |
| EPS (Diluted) | $-0.10-25.0% | $-0.08+84.6% | $-0.52 | N/A | $-0.25-8.7% | $-0.23+42.5% | $-0.40 | N/A |
LUCD Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $53.2M+37.6% | $38.7M+17.9% | $32.8M+6.8% | $30.7M+35.9% | $22.6M-33.8% | $34.1M+6.4% | $32.0M+17.5% | $27.3M |
| Current Assets | $49.8M+47.3% | $33.8M+22.9% | $27.5M+9.5% | $25.1M+49.5% | $16.8M-39.8% | $27.9M+1.3% | $27.6M+25.0% | $22.1M |
| Cash & Equivalents | $47.3M+52.1% | $31.1M+23.3% | $25.2M+12.9% | $22.4M+54.3% | $14.5M-41.9% | $24.9M+0.6% | $24.8M+31.1% | $18.9M |
| Inventory | $486K-3.8% | $505K+4.3% | $484K+41.9% | $341K-47.6% | $651K-4.7% | $683K+66.6% | $410K+47.5% | $278K |
| Accounts Receivable | $550K+47.5% | $373K+511.5% | $61K+35.6% | $45K+15.4% | $39K-75.6% | $160K+226.5% | $49K+8.9% | $45K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $27.4M-11.2% | $30.8M-19.3% | $38.2M+50.7% | $25.3M+55.7% | $16.3M-10.3% | $18.1M-10.0% | $20.2M-31.9% | $29.6M |
| Current Liabilities | $26.2M-10.9% | $29.4M-19.5% | $36.6M+55.5% | $23.5M+65.1% | $14.2M-10.8% | $16.0M-20.0% | $20.0M-32.0% | $29.4M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $25.8M+228.6% | $7.9M+246.2% | -$5.4M-199.7% | $5.4M-14.9% | $6.3M-60.3% | $16.0M+34.3% | $11.9M+614.7% | -$2.3M |
| Retained Earnings | -$258.1M-4.2% | -$247.7M-3.3% | -$239.8M-17.7% | -$203.8M-6.0% | -$192.2M-6.9% | -$179.9M-6.5% | -$168.8M-12.0% | -$150.7M |
LUCD Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.9M-3.3% | -$10.5M+15.4% | -$12.5M-26.3% | -$9.9M+3.0% | -$10.2M+11.4% | -$11.5M+9.0% | -$12.6M-26.4% | -$10.0M |
| Capital Expenditures | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Free Cash Flow | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Investing Cash Flow | -$28K-12.0% | -$25K+73.1% | -$93K+64.1% | -$259K+26.0% | -$350K | $0+100.0% | -$37K+78.9% | -$175K |
| Financing Cash Flow | $27.1M+64.8% | $16.5M+6.6% | $15.4M-14.2% | $18.0M+19047.9% | $94K-99.2% | $11.6M-37.2% | $18.5M+270.4% | $5.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
LUCD Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | -971.0%+7.8pp | -978.9%+529.2pp | -1508.1%-474.3pp | -1033.8%-36.0pp | -997.8%+148.9pp | -1146.7%-68.6pp | -1078.1%+23.1pp | -1101.3% |
| Net Margin | -858.5%-476.9pp | -381.7%+2868.1pp | -3249.8%-2285.6pp | -964.2%+91.4pp | -1055.5%+72.0pp | -1127.6%-67.4pp | -1060.1%-18.8pp | -1041.4% |
| Return on Equity | -40.2%+16.2pp | -56.5% | N/A | -214.1%-18.9pp | -195.2%-126.3pp | -68.9%+20.4pp | -89.2% | N/A |
| Return on Assets | -19.5%-8.1pp | -11.5%+70.6pp | -82.0%-44.5pp | -37.6%+17.2pp | -54.7%-22.5pp | -32.3%+0.9pp | -33.1%+6.6pp | -39.7% |
| Current Ratio | 1.90+0.8 | 1.15+0.4 | 0.75-0.3 | 1.07-0.1 | 1.18-0.6 | 1.75+0.4 | 1.38+0.6 | 0.75 |
| Debt-to-Equity | 1.06-2.9 | 3.92+11.0 | -7.10-11.8 | 4.70+2.1 | 2.57+1.4 | 1.13-0.6 | 1.69+14.5 | -12.80 |
| FCF Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
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Frequently Asked Questions
What is Lucid Diagnostics Inc.'s annual revenue?
Lucid Diagnostics Inc. (LUCD) reported $4.7M in total revenue for fiscal year 2025. This represents a 8.3% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lucid Diagnostics Inc.'s revenue growing?
Lucid Diagnostics Inc. (LUCD) revenue grew by 8.3% year-over-year, from $4.3M to $4.7M in fiscal year 2025.
Is Lucid Diagnostics Inc. profitable?
No, Lucid Diagnostics Inc. (LUCD) reported a net income of -$58.0M in fiscal year 2025, with a net profit margin of -1232.7%.
What is Lucid Diagnostics Inc.'s EBITDA?
Lucid Diagnostics Inc. (LUCD) had EBITDA of -$48.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is Lucid Diagnostics Inc.'s gross margin?
Lucid Diagnostics Inc. (LUCD) had a gross margin of -41.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is Lucid Diagnostics Inc.'s operating margin?
Lucid Diagnostics Inc. (LUCD) had an operating margin of -1054.8% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Lucid Diagnostics Inc.'s net profit margin?
Lucid Diagnostics Inc. (LUCD) had a net profit margin of -1232.7% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Lucid Diagnostics Inc.'s return on equity (ROE)?
Lucid Diagnostics Inc. (LUCD) has a return on equity of -530.5% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lucid Diagnostics Inc.'s free cash flow?
Lucid Diagnostics Inc. (LUCD) generated -$46.7M in free cash flow during fiscal year 2025. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lucid Diagnostics Inc.'s operating cash flow?
Lucid Diagnostics Inc. (LUCD) generated -$46.5M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Lucid Diagnostics Inc.'s total assets?
Lucid Diagnostics Inc. (LUCD) had $40.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lucid Diagnostics Inc.'s capital expenditures?
Lucid Diagnostics Inc. (LUCD) invested $197K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lucid Diagnostics Inc. spend on research and development?
Lucid Diagnostics Inc. (LUCD) invested $5.7M in research and development during fiscal year 2025.
What is Lucid Diagnostics Inc.'s current ratio?
Lucid Diagnostics Inc. (LUCD) had a current ratio of 1.31 as of fiscal year 2025, which is considered adequate.
What is Lucid Diagnostics Inc.'s debt-to-equity ratio?
Lucid Diagnostics Inc. (LUCD) had a debt-to-equity ratio of 2.70 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lucid Diagnostics Inc.'s return on assets (ROA)?
Lucid Diagnostics Inc. (LUCD) had a return on assets of -143.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lucid Diagnostics Inc.'s cash runway?
Based on fiscal year 2025 data, Lucid Diagnostics Inc. (LUCD) had $34.7M in cash against an annual operating cash burn of $46.5M. This gives an estimated cash runway of approximately 9 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Lucid Diagnostics Inc.'s Piotroski F-Score?
Lucid Diagnostics Inc. (LUCD) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lucid Diagnostics Inc.'s earnings high quality?
Lucid Diagnostics Inc. (LUCD) has an earnings quality ratio of 0.80x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lucid Diagnostics Inc. cover its interest payments?
Lucid Diagnostics Inc. (LUCD) has an interest coverage ratio of -2256.4x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lucid Diagnostics Inc.?
Lucid Diagnostics Inc. (LUCD) scores 19 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.