Augmedix Inc Up 20.12% To $4.05 After Earnings Beat

Augmedix Inc (AUGX) beat out earnings estimates for Q4 2023 this afternoon.

Augmedix Inc's earnings came in at an EPS loss of $0.09 per share, 10.00% higher than estimates for an EPS loss of $0.1 per share. The firm's loss per share narrowed by 40% since reporting a loss of $0.15 per share a year ago.

Analyst projections for Augmedix Inc revenue came in at a consensus of $12.5 million. Fourth-Quarter revenues surpassed estimates for $12.7 million by $210 thousand (2%). The company achieved 45% growth year-over-year compared to the firm's revenue of $8.8 million from the year-ago quarter. The lower earnings growth relative to revenue signals Augmedix Inc has not been able to improve its profit margin.

The stock is up 20.12% to $4.05 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

Trading in the five days leading up to the report earned Augmedix Inc a Bearish Sentiment Rank from InvestorsObserver.

Augmedix Inc has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 17, putting Augmedix Inc in the bottom 25% of stocks. The firm was recently trading at a 52-week high of $6.25 on January 2, 2024 and set a 52-week low on March 27, 2023 at $1.34.

Augmedix Inc humanizes the clinician-patient experience by enabling clinicians to focus on what matters most, delivering high-quality patient care. It converts natural clinician-patient conversation into medical documentation and provides real-time administrative support, including referrals, orders, and reminders. The service, which supports over 35 specialties, delivers timely, accurate and comprehensive medical documentation to several of the healthcare systems in the U.S. and to hundreds of independent clinicians nationwide. Augmedix focuses on saving clinicians 2-3 hours per day, improving clinician productivity by as much as 20%, and increasing clinicians' satisfaction with a work-life balance by over 40%.