Forbes May 15, 2024
Augmedix, the only publicly-traded AI medical scribe company, posted $13.5 million in revenue in the first quarter of 2024, up 40% from the previous year. But by Tuesday’s close, a day after the earnings report, the stock was down more than 50% to $1.15 per share. The reason? Competition.
Augmedix CEO Manny Krakaris told analysts the company was lowering its 2024 revenue outlook to a range of $52 million to $55 million from previous estimates of $60 million to $62 million. “There are 42 companies in this space right now that are offering generative AI medical documentation solutions,” Krakaris said on the earnings call. “So there’s a lot of noise in the market and a lot of trials that are...
Today's Sponsors
Today's Sponsor