Augmedix sees Q4 revenue $12.5M, consensus $12.4M

Augmedix announced preliminary revenue results and operational metrics for the fourth quarter of 2023. “Augmedix’s expected fourth quarter revenue of approximately $12.5 million puts us on pace to deliver a solid finish to a strong year,” stated Augmedix CEO Manny Krakaris. “We enter 2024 with approximately $51 million in expected Annual Recurring Revenue, driven by strong adoption of Augmedix Live and Augmedix Notes by our health system customers. With Augmedix Go now generally available in the ambulatory setting, and the resources to accelerate our growth plans, we are well positioned for another successful year in 2024.” The below preliminary data is as of December 31, 2023, unless otherwise noted. Annual Recurring Revenue of approximately $51 million, compared to $35 million at the end of 2022, an increase of 46%. 1,830 clinicians in service, up 41% year-over-year. Revenue in the fourth quarter of 2023 is expected to be approximately $12.5 million, exceeding guidance of $12.3 million, and resulting in full-year 2023 revenue of approximately $44.7 million. The Company went “live” with Augmedix Go for the ambulatory setting in mid-December. Augmedix expects to report financial results for the fourth quarter of 2023 and to conduct an earnings conference call in March