LUCD on Nasdaq

Lucid Diagnostics Inc.

Lucid Diagnostics is a commercial-stage cancer prevention medical diagnostics technology company.3 From its latest annual report

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Last updated Oct 19, 2026.

Overview

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  • TickerLUCD on Nasdaq1
  • IndustrySurgical & Medical Instruments & Apparatus1
  • HeadquartersNew York, New York1
  • Incorporated inDE2
  • Business address360 Madison Avenue, 25Th Floor, New York, Ny 100172
  • Filer category, Emerging growth company2
  • Legal formCorporation

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Lucid Diagnostics is a commercial-stage cancer prevention medical diagnostics technology company. Lucid is focused on the millions of patients with gastroesophageal reflux disease (“GERD”), also known as chronic heartburn, who are at risk of developing esophageal precancer and cancer, specifically highly lethal esophageal adenocarcinoma (“EAC”).3 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-1054.8%Operating margin4
-1232.7%Net margin4
8.3%Revenue growth, 20254
-530.4%Return on equity4
-$46.7MFree cash flow4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue54¢$6.7M
  • Research and development46¢$5.7M

Out of $4.7M in revenue.4 The company lost money this year.

Financial statements

Revenue5674$4.7M in 2025+841% since 2021
0$2.0M$4.0M$6.0M2021: $500.0K$500.0K20212022: $377.0K$377.0K2022−25%2023: $2.4M$2.4M2023+544%2024: $4.3M$4.3M2024+79%2025: $4.7M$4.7M2025+8%
Gross profit5$377.0K in 2022−25% since 2021
0$200.0K$400.0K$600.0K2021: $500.0K$500.0K20212022: $377.0K$377.0K2022−25%
Operating income85674-$49.6M in 2025+500% since 2020
-$60.0M-$40.0M-$20.0M02020: -$8.3M-$8.3M20202021: -$27.4M-$27.4M2021+231%2022: -$56.3M-$56.3M2022+105%2023: -$48.5M-$48.5M2023−14%2024: -$46.1M-$46.1M2024−5%2025: -$49.6M-$49.6M2025+8%
Net income85674-$58.0M in 2025+601% since 2020
-$60.0M-$40.0M-$20.0M02020: -$8.3M-$8.3M20202021: -$28.1M-$28.1M2021+239%2022: -$56.2M-$56.2M2022+100%2023: -$52.7M-$52.7M2023−6%2024: -$45.5M-$45.5M2024−14%2025: -$58.0M-$58.0M2025+27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.4

Period ending2025-12-312024-12-31
Revenue$4.7M$4.3M
Cost of revenue$6.7M$7.1M
Sales and marketing$17.7M$16.5M
General and administrative$23.9M$20.2M
Amortization of acquired intangible assets$421.0K$688.0K
Research and development$5.7M$6.0M
Total operating expenses$54.3M$50.4M
Operating loss-$49.6M-$46.1M
Interest income$386.0K$322.0K
Interest expense-$22.0K-$26.0K
Change in fair value - Senior Secured Convertible Note-$7.7M$5.4M
Debt extinguishments loss - Senior Secured Convertible Note$0-$5.2M
Equity issuance cost extinguishment-$1.1M$0
Other income (expense), net-$8.4M$523.0K
Loss before provision for income tax-$58.0M-$45.5M
Provision for income taxes$0$0
Net loss attributable to Lucid Diagnostics Inc.-$58.0M-$45.5M
Net loss attributable to Lucid Diagnostics Inc. common stockholders-$70.6M-$53.0M
Net loss per share attributable to Lucid Diagnostics Inc. common stockholders - basic and diluted (in dollars per share)-$0.69-$1.05
Weighted average common shares outstanding, basic and diluted (in shares)101.9M shares50.5M shares

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Leadership

Who has led Lucid Diagnostics Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Lishan Aklog2021–now

President

  1. Shaun O'Neil2024–now

Chief financial officer

  1. Dennis M. McGrath2021–now

Chief operating officer

  1. Shaun O'Neil2023–now
2025
Board members and other officers (10)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorRONALD M. SPARKS named Mar 22, 2023 to Dec 6, 202425
  • DirectorSTANLEY N. LAPIDUS named Mar 22, 2023 to Dec 6, 202425

Timeline

  1. Oct 13, 2021New chief executive Lishan Aklog becomes CEO12

Filings

262 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 70 major events, 78 insider forms, 5 large holders, 4 private raises, 85 other. The latest 20:

  1. Sep 22, 20268-K EDGAR
  2. Aug 13, 20268-K EDGAR
  3. Aug 12, 202610-Q EDGAR
  4. Jun 24, 20268-K EDGAR
  5. May 21, 20264 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  6. May 14, 20268-K EDGAR
  7. May 13, 202610-Q EDGAR
  8. Apr 30, 2026DEFA14A EDGAR
  9. Apr 30, 2026ARS EDGAR
  10. Apr 30, 2026DEF 14A EDGAR
  11. Apr 24, 20268-K EDGAR
  12. Apr 24, 20263/A AMENDED INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  13. Apr 23, 2026424B5 EDGAR
  14. Apr 23, 20268-K EDGAR
  15. Apr 20, 2026PRE 14A EDGAR
  16. Apr 13, 20263 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES EDGAR
  17. Apr 3, 2026S-8 EDGAR
  18. Apr 3, 2026S-8 EDGAR
  19. Mar 26, 2026EFFECT EDGAR
  20. Mar 26, 2026424B5 EDGAR

The 262 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

16 open-market trades by officers, directors and large owners since October 2021: 9 buys and 7 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
May 20, 2026Matheis DennisDirectorBuy245,000$1.00$245.0KForm 4
Aug 20, 2025Matheis DennisDirectorBuy100,000$1.02$102.0KForm 4
May 22, 2025Matheis DennisDirectorBuy33,218$1.32$43.8KForm 4
May 22, 2025Matheis DennisDirectorBuy33,218$1.32$43.8KForm 4
May 21, 2025Matheis DennisDirectorBuy129,684$1.32$171.2KForm 4
May 21, 2025Matheis DennisDirectorBuy129,684$1.32$171.2KForm 4
May 20, 2025Matheis DennisDirectorBuy187,098$1.30$243.2KForm 4
May 20, 2025Matheis DennisDirectorBuy187,098$1.30$243.2KForm 4
Sep 26, 2023Lapidus StanleyDirectorSale29,747$1.45$43.1KForm 4
Sep 25, 2023Lapidus StanleyDirectorSale200$1.43$286Form 4
Sep 21, 2023Lapidus StanleyDirectorSale100$1.44$144Form 4
Sep 21, 2023Lapidus StanleyDirectorSale100$1.44$144Form 4
Sep 20, 2023Lapidus StanleyDirectorSale3,817$1.45$5.5KForm 4
Sep 20, 2023Lapidus StanleyDirectorSale3,817$1.45$5.5KForm 4
Sep 20, 2022Lapidus StanleyDirectorSale33,864$1.71$57.7KForm 4
Oct 18, 2021PAVmed Inc.10% ownerBuy571,428$14.00$8.0MForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Nov 22, 2024Raised $21.9 million in a private offering of debt Form D: 7 investors so far Form D
  2. Oct 18, 2023Raised $5 million in a private offering of equity Form D: 2 investors so far Form D
  3. Mar 21, 2023Raised $11.1 million in a private offering of debt Form D: 1 investor so far Form D
  4. Mar 7, 2023Raised $13.6 million in a private offering of equity Form D: $20 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Alyeska Investment Group, L.P.8,856,844$9.5M0.0%New
BlackRock, Inc.8,373,117$9.0M0.0%+3,734,874
Vanguard Capital Management LLC6,556,344$7.0M0.0%+2,401,574
Two Seas Capital LP6,000,000$6.4M0.2%+3,000,000
Masters Capital Management LLC4,000,000$4.3M0.6%No change
Aberdeen Group plc3,822,997$4.1M0.0%+178,720
Geode Capital Management, LLC3,789,948$4.1M0.0%+1,544,598
State Street Corp2,437,337$2.6M0.0%+882,756
First Manhattan Co. Llc.2,188,550$2.3M0.0%+1,865,100
Wells Fargo & Company/mn2,067,046$2.2M0.0%+792,656
Russell Investments Group, Ltd.1,651,788$1.8M0.0%+68,180
Northern Trust Corp1,219,879$1.3M0.0%+549,294
Perkins Capital Management Inc1,125,000$1.2M0.9%−1,000
Vanguard Fiduciary Trust Co1,068,109$1.1M0.0%+444,552
Vanguard Portfolio Management LLC1,022,262$1.1M0.0%+493,493
UBS Group AG845,314$904.5K0.0%+399,835
Aqr Capital Management LLC723,200$773.8K0.0%+488,431
Raymond James Financial Inc577,381$617.8K0.0%+52,445
Lido Advisors, LLC446,739$478.0K0.0%+63,657
Charles Schwab Investment Management Inc325,312$348.1K0.0%+127,888
XML Financial, LLC323,195$345.8K0.0%+100,000
Bank of New York Mellon Corp301,703$322.8K0.0%+95,397
Bank Of Montreal /can/289,936$310.2K0.0%+4,700
Nuveen, LLC195,065$208.7K0.0%+104,831
Tripletail Wealth Management, LLC183,417$196.3K0.2%New

13F reports cover disclosed long positions in U.S. stocks only.

Sources

The numbers on this page point here. Each one links to the record it came from.

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