Alex Knapp is a senior editor at Forbes covering healthcare, science, and cutting edge technology who joined Forbes in 2011. He's written dozens of profiles of entrepreneurs across a variety of fields and done deep dives into technological trends from superconductors to space travel to pharmaceuticals.
$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?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.
, which was released for general availability last month following a pilot with HCA Healthcare. It’s faster and cheaper than the human-in-the-loop version. Prior to the earnings call, Forbes caught up with Augmedix founder and chief strategy officer Ian Shakil, who provided insight into how the company plans to differentiate itself.
“The is hard as heck,” said Shakil, due to terrible acoustics, patient rooms separated by curtains, multiple voices and doctors constantly switching between bedsides. Augmedix offers athat includes a lapel mic, rather than having to put a phone down on a surface. The idea is to conquer complex specialties, like emergency and oncology, said Shakil. “If we can show strength and differentiation there, we can win accounts.
“The other benefit, which is really exciting, is team-based documentation,” he said. In a hospital, there can be multiple doctors, nurses and other clinicians treating a patient. “To the degree these hospitals are partnering, innovating and making their rooms smart,” said Shakil, “it enables us to kind of ride those rails.
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