Lucid Diagnostics Inc. (LUCD) Financials
A multiple compares the market's price with a filed figure; it says what the market pays, not how the business is doing. The market capitalization is the vendor's as of Oct 5, 2026; every other figure is from the SEC filings on this page. Not financial advice.
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 12, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the LUCD SEC filings page.
Lucid Diagnostics Inc. (LUCD) reported $4.7M in revenue for fiscal year 2025, up 8.3% from the prior fiscal year. This page shows its 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).
Lucid remains a development-stage business: modest revenue is outweighed by operating costs, so external financing funds cash needs.
Revenue rose8.3% from FY2024 to FY2025 while the gross loss narrowed to$2.0M , showing improvement in direct economics. Operating loss nevertheless reached$49.6M , so overhead and other operating costs still overwhelmed that progress.
Operating cash flow and free cash flow were nearly identical at roughly
Financing cash flow of
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Lucid Diagnostics Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lucid Diagnostics Inc. held $34.7M in cash, cash equivalents and investments at the end of fiscal year 2025, and its operations used $46.5M of cash that year. Cash Runway ranks emerging companies on the size of that balance against the outflow behind it, and Lucid Diagnostics Inc. scores 27/100 among other emerging companies.
Lucid Diagnostics Inc. had 177M shares outstanding at the end of fiscal year 2025. Dilution ranks emerging companies on how fast that count has grown over three years, where a slower rise is the better one, and Lucid Diagnostics Inc. scores 12/100 among other emerging companies.
Lucid Diagnostics Inc. spent $5.7M on research and development in fiscal year 2025, which was 10.4% of its operating costs that year. R&D Intensity ranks emerging companies on the share of operating costs that goes into research, and Lucid Diagnostics Inc. scores 37/100 among other emerging companies.
Lucid Diagnostics Inc. reported revenue of $4.7M in fiscal year 2025, against $4.3M in fiscal year 2024. Revenue Progress ranks emerging companies on the three-year path of that line, and Lucid Diagnostics Inc. scores 75/100 among other emerging companies.
Lucid Diagnostics Inc.'s operations used $46.5M of cash in fiscal year 2025, against $44.1M used in fiscal year 2024. Burn Trend ranks emerging companies on which way that figure has moved over three years, and Lucid Diagnostics Inc. scores 31/100 among other emerging companies.
Lucid Diagnostics Inc.'s cash, cash equivalents and investments came to $34.7M at the end of fiscal year 2025, against $29.5M of total liabilities. Balance Sheet ranks emerging companies on that comparison, and Lucid Diagnostics Inc. scores 63/100 among other emerging companies.
Lucid Diagnostics Inc. scores -10.73, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($119.8M) relative to total liabilities ($29.5M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lucid Diagnostics Inc. passes 4 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
Lucid Diagnostics Inc. reported a net loss of $58.0M while operations used $46.5M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Lucid Diagnostics Inc. reported an operating loss of $49.6M against $22K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Lucid Diagnostics Inc. generated $1.5M in revenue in Q2 2026. This represents an increase of 26.7% from the same quarter a year earlier. Against the prior quarter it is up 17.4%.
Lucid Diagnostics Inc.'s EBITDA was -$12.6M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 12.7% from the same quarter a year earlier. Against the prior quarter it is down 5.8%.
Lucid Diagnostics Inc. reported -$11.7M in net income in Q2 2026. This represents a decrease of 163.3% from the same quarter a year earlier. Against the prior quarter it is up 16.0%.
Not reported for Q2 2026.
Cash & Balance Sheet
Lucid Diagnostics Inc. recorded an outflow of $11.3M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 7.0% from the same quarter a year earlier. Against the prior quarter it is up 8.1%.
Lucid Diagnostics Inc. held $33.4M in cash as of Q2 2026; long-term debt is not reported for that period.
Not reported for Q2 2026.
Margins & Returns
Lucid Diagnostics Inc.'s gross margin was 2.0% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 36.4 percentage points from the same quarter a year earlier. Against the prior quarter it is up 31.4 percentage points.
Lucid Diagnostics Inc.'s ROE was -107.0% in Q2 2026, measuring profit generated per dollar of shareholder equity. This is down 50.5 percentage points from the same quarter a year earlier. Against the prior quarter it is up 240.8 percentage points.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Not shown for Q2 2026: the reported ratio is below -100.0% of revenue, so it does not read as a share of revenue.
Capital Allocation
Lucid Diagnostics Inc. invested $1.2M in research and development in Q2 2026. This represents a decrease of 5.0% from the same quarter a year earlier. Against the prior quarter it is down 1.2%.
Lucid Diagnostics Inc. invested $21K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 16.0% from the same quarter a year earlier. Against the prior quarter it is down 90.2%.
Not reported for Q2 2026.
LUCD Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $1.5M+26.7% | $1.3M+51.7% | $1.5M+25.6% | $1.2M+3.3% | $1.2M+19.2% | $828K-17.3% | $1.2M+15.1% | $1.2M+49.7% |
| Cost of Revenue | $1.4M-7.5% | $1.6M+4.8% | N/A | N/A | $1.6M | $1.6M | N/A | N/A |
| Gross Profit | $29K+107.3% | -$369K+49.0% | N/A | N/A | -$400K | -$723K | N/A | N/A |
| R&D Expenses | $1.2M-5.0% | $1.2M-15.5% | $1.7M+18.6% | $1.3M-23.6% | $1.3M-8.5% | $1.4M-4.9% | $1.5M-24.2% | $1.7M+3.2% |
| SG&A Expenses | $5.8M+2.5% | $5.4M-11.8% | $6.5M+10.6% | $5.6M+4.7% | $5.6M+15.4% | $6.2M+51.4% | $5.9M+39.5% | $5.4M+24.0% |
| Operating Income | -$12.8M-12.4% | -$12.1M+3.0% | -$14.0M-13.2% | -$11.8M-0.6% | -$11.4M-1.7% | -$12.5M-15.7% | -$12.4M-8.0% | -$11.7M-5.1% |
| EBITDA | -$12.6M-12.7% | -$11.9M+3.0% | -$13.8M-13.6% | -$11.5M-0.5% | -$11.2M-1.8% | -$12.3M-19.2% | -$12.2M-12.3% | -$11.5M-9.3% |
| Interest Expense | $4K-33.3% | $6K-33.3% | $5K-28.6% | $2K+100.0% | $6K0.0% | $9K-25.0% | $7K-36.4% | $1K-99.3% |
| Income Tax | $0 | $0 | N/A | N/A | $0 | $0 | N/A | N/A |
| Net Income | -$11.7M-163.3% | -$13.9M+48.3% | -$16.3M-40.9% | -$10.4M+16.0% | -$4.4M+59.7% | -$26.9M-153.6% | -$11.5M-6.6% | -$12.4M+12.9% |
| EPS (Basic) | -$0.080.0% | -$0.17+67.3% | -$0.10+44.4% | -$0.10+60.0% | -$0.08+65.2% | -$0.52-30.0% | -$0.18+28.0% | -$0.25+26.5% |
| EPS (Diluted) | N/A | N/A | N/A | -$0.10 | -$0.08 | -$0.52 | -$0.18+28.0% | -$0.25+26.5% |
| Diluted Shares (Avg) | N/A | N/A | N/A | 108M | 99M | 69M | N/A | 50M+20.3% |
LUCD Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $38.9M+0.7% | $34.1M+3.9% | $40.4M+31.7% | $53.2M+135.4% | $38.7M+13.4% | $32.8M+2.3% | $30.7M+12.6% | $22.6M-32.0% |
| Current Assets | $36.6M+8.2% | $31.4M+13.9% | $37.5M+49.0% | $49.8M+196.3% | $33.8M+21.1% | $27.5M-0.2% | $25.1M+13.9% | $16.8M-38.4% |
| Cash & Equivalents | $33.4M+7.3% | $27.9M+10.5% | $34.7M+55.2% | $47.3M+226.7% | $31.1M+24.9% | $25.2M+1.9% | $22.4M+18.3% | $14.5M-39.8% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $484K-4.2% | $469K-3.1% | $353K+3.5% | $486K-25.3% | $505K-26.1% | $484K+18.0% | $341K+22.7% | $651K |
| Accounts Receivable | $1.1M+191.7% | $689K+1029.5% | $643K+1328.9% | $550K+1310.3% | $373K+133.1% | $61K+24.5% | $45K0.0% | $39K+85.7% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $28.0M-9.1% | $30.1M-21.2% | $29.5M+16.5% | $27.4M+68.3% | $30.8M+69.9% | $38.2M+89.4% | $25.3M-14.4% | $16.3M-47.0% |
| Current Liabilities | $27.5M-6.5% | $29.4M-19.6% | $28.6M+21.5% | $26.2M+83.9% | $29.4M+84.1% | $36.6M+83.1% | $23.5M-19.9% | $14.2M-52.9% |
| Non-Current Liabilities | $503K-63.6% | $695K-56.6% | $927K-48.5% | $1.2M-42.5% | $1.4M-35.8% | $1.6M+805.6% | $1.8M+804.5% | $2.0M+333.4% |
| Total Equity | $10.9M+39.0% | $4.0M+174.4% | $10.9M+102.9% | $25.8M+307.6% | $7.9M-50.8% | -$5.4M-145.2% | $5.4M+333.3% | $6.3M+148.0% |
| Retained Earnings | -$312.7M-26.2% | -$298.0M-24.3% | -$274.3M-34.6% | -$258.1M-34.3% | -$247.7M-37.7% | -$239.8M-42.0% | -$203.8M-35.2% | -$192.2M-37.4% |
Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.
LUCD Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$11.3M-7.1% | -$12.1M+2.9% | -$12.6M-27.4% | -$10.9M-7.1% | -$10.5M+8.1% | -$12.5M+1.2% | -$9.9M+1.1% | -$10.2M-15.9% |
| Depreciation & Amortization | $224K+0.9% | $222K+0.5% | $209K-5.9% | $220K+2.3% | $222K-3.1% | $221K-55.9% | $222K-64.7% | $215K-65.6% |
| Stock-Based Compensation | $1.7M+48.2% | $1.4M+48.7% | N/A | $1.2M-6.2% | $1.1M-4.8% | $949K+27.7% | N/A | $1.2M-1.9% |
| Capital Expenditures | $21K-16.0% | $215K+131.2% | N/A | N/A | $25K | $93K | N/A | N/A |
| Free Cash Flow | -$11.3M-7.0% | -$12.3M+1.9% | N/A | N/A | -$10.6M | -$12.6M | N/A | N/A |
| Investing Cash Flow | -$21K+16.0% | -$215K-131.2% | -$51K+80.3% | -$28K+92.0% | -$25K | -$93K-151.4% | -$259K-48.0% | -$350K-2400.0% |
| Financing Cash Flow | $16.8M+2.4% | $5.5M-64.5% | $2K-100.0% | $27.1M+28761.7% | $16.5M+41.5% | $15.4M-16.7% | $18.0M+260.0% | $94K-65.8% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
LUCD Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 2.0%+36.4pp | -29.4%+57.9pp | N/A | N/A | -34.4% | -87.3% | N/A | N/A |
| Operating Margin | -868.5% | -964.5% | -931.5% | -971.0% | -978.9% | -1508.1% | -1033.8% | -997.8% |
| Net Margin | -792.9% | -1107.4% | -1081.5% | -858.5% | -381.7% | -3249.8% | -964.2% | -1055.5% |
| Return on Equity | -107.0%-50.5pp | -347.7% | -148.7%+65.3pp | -40.2%+155.0pp | -56.5%+12.4pp | N/A | -214.1% | -195.2%+360.7pp |
| Return on Assets | -30.0%-18.5pp | -40.8%+41.2pp | -40.2%-2.7pp | -19.5%+35.2pp | -11.5%+20.8pp | -82.0%-48.9pp | -37.6%+2.1pp | -54.7%-12.0pp |
| Current Ratio | 1.33+0.2x | 1.07+0.3x | 1.31+0.2x | 1.90+0.7x | 1.15-0.6x | 0.75-0.6x | 1.07+0.3x | 1.18+0.3x |
| Debt-to-Equity | 2.56-1.4x | 7.52 | 2.70-2.0x | 1.06-1.5x | 3.92+2.8x | N/A | 4.70 | 2.57-9.4x |
| Asset Turnover | 0.040.0x | 0.040.0x | 0.040.0x | 0.020.0x | 0.030.0x | 0.030.0x | 0.040.0x | 0.050.0x |
| FCF Margin | -767.8% | -980.6% | N/A | N/A | -909.2% | -1516.7% | N/A | N/A |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Similar Companies
Newest fiscal year on record for each company. The health score is the peer-relative Financial Health Score for that year; a dash means no score is published for it.
| Company | Fiscal year | Revenue | Net income | Net margin | Market cap | Health score |
|---|---|---|---|---|---|---|
| Lucid Diagnostics Inc. LUCD | FY2025 | $4.7M | -$58.0M | N/A | $119.8M | 41/100 |
| Sera Prognostics, Inc. SERA | FY2025 | $81K | -$31.9M | N/A | $82.4M | — |
| Profound Medical Corp. PROF | FY2025 | $16.1M | -$42.6M | N/A | $213.4M | 55/100 |
| Avita Medical, Inc. RCEL | FY2025 | $71.6M | -$48.6M | -67.8% | $393.4M | 45/100 |
| Hyperfine, Inc. HYPR | FY2025 | $13.6M | -$35.6M | N/A | $94.8M | 51/100 |
Where Lucid Diagnostics Inc. Ranks
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.
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 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) recorded an outflow of $46.7M in free cash flow during fiscal year 2025. This represents a -5.1% change compared to the previous fiscal year. 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) recorded an outflow of $46.5M in operating cash flow during fiscal year 2025, representing cash used by 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 P/E ratio?
Lucid Diagnostics Inc. (LUCD) has no price-to-earnings ratio at the moment: net loss, so no earnings multiple (trailing 12 months to June 30, 2026). The market capitalization is $119.8M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
What is Lucid Diagnostics Inc.'s price-to-sales ratio?
Lucid Diagnostics Inc. (LUCD) trades at 22.0x sales, its market capitalization divided by revenue of $5.4M revenue, trailing 12 months to June 30, 2026. The market capitalization is $119.8M as of Oct 5, 2026; a multiple compares that price with a filed figure and says nothing about the quality of the business.
How does Lucid Diagnostics Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Lucid Diagnostics Inc. (LUCD) held $34.7M in cash, cash equivalents and investments, and reported an operating cash outflow of $46.5M over that year. Dividing the one by the other, the reported balance equals about 9 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Lucid Diagnostics Inc.'s Altman Z-Score?
Lucid Diagnostics Inc. (LUCD) has an Altman Z-Score of -10.73, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lucid Diagnostics Inc.'s Piotroski F-Score?
Lucid Diagnostics Inc. (LUCD) has a Piotroski F-Score of 4 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. 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 to 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) reported a net loss of $58.0M while operations used $46.5M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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) reported an operating loss of $49.6M against $22K in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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 41 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.