Augmedix reports Q3 revenue $7.9M , consensus $7.75M

Reports Q3 EBITDA losses were $5M compared to losses of $2M. Adjusted EBITDA losses were $4.5M compared to $3.8M, which excludes stock-based compensation in both periods, and the PPP loan forgiveness a year ago. Adjusted EBITDA losses declined sequentially from $5.3 million reported in the second quarter of 2022. Cash, cash equivalents and restricted cash as of September 30 was $27.0 million compared to $11.1 million as of September 30, 2021. $."We are pleased with our record third quarter as it serves as a testament to the market’s accelerating adoption of our highly differentiated and broad product portfolio. Our Ambient Automation Platform enables us to generate medical notes that are not only accurate and timely, but also incorporate clinician preferences, a feature greatly appreciated by our customers. Moreover, our offerings continue to directly address the severe physician burnout and staffing shortages plaguing the healthcare industry," said Manny Krakaris, CEO of Augmedix. "As we look to the remainder of the year and beyond, we remain confident with our positioning within this large and growing market. We are focused on building upon our momentum and continuing our push to serve the market with innovative new offerings to perpetuate our leadership position."