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Lucira Health, Inc.

lucirahealth.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 14, 2022. Its latest SEC filing is a 15-12G from Oct 4, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells single-use molecular test kits for infectious diseases, including coronavirus, to consumers, healthcare providers and businesses.

How Did They Make Money?

Customers buy Lucira test kits; the company generally bills when kits ship, with payment collected within 30 days. Online buyers typically pay immediately or within a few days, while customers in some countries pay before delivery.

FY2021 revenue

Who Were Their Customers?

Healthcare providers buy through Lucira's healthcare channel; businesses and consumers buy through business-to-business and online channels, while international sales go through distributors.

Customers above 10% of revenue, FY2021
of revenue from two customers (11%, 10%)
FY2020: 100% from one customer

Did Revenues Turn Into Profits?

No. It lost $64.8M in FY2021.

Operating income, FY2021
−70% of revenue
▲ +104% (Loss) vs FY2020 (−$31.9M, −11868%)
Net income, FY2021
−70% of revenue
▲ +74% (Loss) vs FY2020 (−$37.3M, −13884%)
Free cash flow, FY2021
−125% of revenue
▲ +126% (Loss) vs FY2020 (−$51.3M, −19084%)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
▲ +130%
vs $15M in Q3 FY2021
  • Sep 25, 2023 Liquidation plan confirmed; common shares to be cancelled The plan provides no distribution to holders of equity securities.
  • Apr 24, 2023 Sold substantially all assets to Pfizer The sale closed, and Lucira said it was no longer an operating company.
  • Feb 27, 2023 Nasdaq determined to delist Lucira's common stock Lucira said it did not intend to appeal the determination.
  • Feb 22, 2023 Filed for Chapter 11 bankruptcy protection Lucira said it would continue operating during the case.

Who Did They Compete With?

Competes with Quest Diagnostics, Laboratory Corporation of America, Cue Health, and Detect

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