PAVmed Reports Q3 2026 Revenue Growth and Lucid Diagnostics Medicare Reimbursement Milestone
PAVmed Inc. (PAVM) reported third-quarter revenue of $41,000, a significant increase from $5,000 in the prior year period. Despite this growth, the company recorded a GAAP net loss of $13 million, largely due to a $9.6 million non-cash charge related to the fair value adjustment of Lucid Diagnostics shares and senior notes. On a non-GAAP basis, the adjusted net loss was $1.2 million, or $0.19 per share. The company highlighted a major milestone as its subsidiary, Lucid Diagnostics, secured nationwide Medicare reimbursement for the EsoGuard test. Management is also focusing on the Veris digital oncology platform, noting increased patient enrollment at Ohio State University and preparing for an FDA submission of their implantable monitor in early 2027. However, declining share prices led to a breach of collateral coverage covenants regarding their $15 million senior secured note.