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PAVmed (PAVM) investor relations material
PAVmed Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Q2 2025 revenue from EsoGuard was $1.2M with 2,756 tests performed, supported by expanded commercial initiatives and new insurance coverage, including Highmark Blue Cross Blue Shield.
Strengthened balance sheet with a $16.1M public offering, ending Q2 with $31.1M in cash, extending runway into 2026.
Strategic partnerships launched, including Hoag Health System, to expand EsoGuard access and a resumed product development for Veris Health after $2.5M equity financing.
NCI-sponsored and pilot studies published, supporting expanded indications and market opportunity for EsoGuard.
Joined Russell 2000 and 3000 Indexes, enhancing institutional investor visibility.
Financial highlights
Q2 2025 revenue was $1.2M, up from $976,000 in Q2 2024, with 2,756 tests performed.
Non-GAAP net loss for Q2 2025 was $9.9M, or $(0.10) per share, an improvement over prior periods.
Operating expenses for Q2 2025 were $12.5M, including $1.1M in stock-based compensation.
Cash and cash equivalents at June 30, 2025, were $31.1M, up from $22.4M at year-end 2024.
High contribution margin of 90% per test, with costs under $200 and Medicare rate as benchmark.
Outlook and guidance
Anticipates significant progress with the upcoming Medicare Local Coverage Determination (LCD) meeting for EsoGuard on September 4, 2025.
Expects to accelerate commercialization and revenue growth as Medicare coverage and other reimbursement milestones are achieved.
No plans to increase headcount or OpEx until Medicare coverage is obtained; resource allocation will be adjusted as needed.
Company expects recurring losses and negative cash flows to persist; additional capital will be needed.
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