Augmedix, Inc.
augmedix.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Aug 12, 2024. Its latest SEC filing is a SC 13G/A from Nov 13, 2024.
10-Q for Q2 FY2024, filed Aug 12, 2024
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Transforms conversations between clinicians and patients into medical notes, structured data and point-of-care notifications for doctors, clinics and health systems.
10-K for FY2023, filed Mar 26, 2024
How Did They Make Money?
Healthcare customers pay recurring subscriptions for documentation services, usually in advance; most contracts begin with a one-year term and include an upfront implementation fee.
10-K for FY2023, filed Mar 26, 2024The Company derives its revenue through a recurring subscription model. The Company enters into contracts with its customers with an…View ↗
$44.9M
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10-K for FY2023, filed Mar 27, 2024
$44.9M ↗
Who Were Their Customers?
Large health systems and specialty groups are a principal customer group; small practices and independent practitioners are also customers. Augmedix sells mainly through a direct sales team, while channel partners can provide leads.
10-K for FY2023, filed Mar 26, 2024Our customers are diverse in size, geography, and specialty. Our clients include some of the largest health systems and specialty groups in…View ↗
Currently, we predominantly rely upon a dedicated direct sales force and customer success team to sell our products. The direct sales force…View ↗
We have signed a number of channel partnership agreements with various groups, some of which have members who are clinicians. In general…View ↗
Did Revenues Turn Into Profits?
No. It lost $19.2M in FY2023.
10-K for FY2023, filed Mar 27, 2024
−$18.8MView ↗
10-K for FY2023, filed Mar 27, 2024
−$19.2MView ↗
10-K for FY2023, filed Mar 27, 2024
−$18.5MView ↗
How Were They Changing?
- Net income
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Sources
10-Q for Q2 FY2024, filed Aug 13, 2024
−$8.5MView ↗
- ▲ +68% (Loss)
- vs −$5M in Q2 FY2023
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Oct 2, 2024
Commure completed its acquisition of Augmedix
Augmedix became a wholly owned subsidiary, and its stock ceased trading and was delisted from Nasdaq.
Sources
8-K, filed Oct 2, 2024
San Francisco, CA – October 2, 2024 – Commure, a healthcare technology company, announced today that it has completed the acquisition of…View ↗
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Jul 19, 2024
Augmedix agreed to be acquired by Commure
The agreement set cash consideration of $2.35 per share and provided for Augmedix to become a wholly owned subsidiary.
Sources
8-K, filed Jul 19, 2024
Under the terms of the agreement, Augmedix stockholders will receive $2.35 per share in cash upon completion of the proposed transaction…View ↗
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Jun 5, 2024
Augmedix reiterated its full-year 2024 revenue outlook
Management expected revenue of approximately $52 to $55 million for 2024.
Sources
8-K, filed Jun 5, 2024
For the full year of 2024, management continues to expect revenue of approximately $52 to $55 million.View ↗
More automated notes
The earlier report described remote documentation specialists creating and uploading notes. The latest report describes Augmedix Go generating notes with AI, with specialist review available for some products and encounters.
10-K for FY2020, filed Mar 31, 2021 10-K for FY2023, filed Mar 26, 2024
Broader care settings
The earlier report said it focused most efforts on ambulatory and clinical settings; the latest describes service across clinics, hospitals and telemedicine, including emergency departments.
10-K for FY2020, filed Mar 31, 2021 10-K for FY2023, filed Mar 26, 2024Patient care in the U.S. is provided in ambulatory or clinical environments and hospitals. We focus most of our efforts in the…View ↗
Who Did They Compete With?
Competes with Microsoft, Solventum, 3M, Dolby Systems, IKS Healthcare, ScribeAmerica, IKS Health, Nuance Communications, and M-Modal
10-K for FY2023, filed Mar 26, 2024Ambient, real time draft medical note documentation services. There are a number of new entrants using AI and LLMs to create a draft…View ↗
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