PAVmed Inc (PAVM) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic Restructuring

GuruFocus.com11-15

Revenue: Record revenue with a 20% increase quarter-on-quarter. Net Income: GAAP net income of $61 million due to deconsolidation adjustments. Earnings Per Share (EPS): Positive primary EPS of $6.43 ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2483312814?lang=en_US&edition=fundamental","thumbnail":"https://s.yimg.com/uu/api/res/1.2/U9uX6VnE_PEgi4QMFULLUw--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/79f07f9d8c152373b559faa8542cf2a4","is_english":true,"pubTime":"2024-11-15 15:09","share_image_url":"https://static.laohu8.com/5f26f4a48f9cb3e29be4d71d3ba8c038","id":"2483312814","market":"us","top_or_hot":-1,"title":"PAVmed Inc (PAVM) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic Restructuring","media":"GuruFocus.com","content":"<div>\n<p>Revenue: Record revenue with a 20% increase quarter-on-quarter.\nNet Income: GAAP net income of $61 million due to deconsolidation adjustments.\nEarnings Per Share (EPS): Positive primary EPS of $6.43 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pavmed-inc-pavm-q3-2024-070927445.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>PAVmed Inc (PAVM) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic Restructuring</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPAVmed Inc (PAVM) Q3 2024 Earnings Call Highlights: Record Revenue and Strategic Restructuring\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-15 15:09 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/pavmed-inc-pavm-q3-2024-070927445.html><strong>GuruFocus.com</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Revenue: Record revenue with a 20% increase quarter-on-quarter.\nNet Income: GAAP net income of $61 million due to deconsolidation adjustments.\nEarnings Per Share (EPS): Positive primary EPS of $6.43 ...</p>\n\n<a href=\"https://finance.yahoo.com/news/pavmed-inc-pavm-q3-2024-070927445.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PAVMZ","symbol_name":"PAVmed, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/pavmed-inc-pavm-q3-2024-070927445.html","article_id":"2483312814","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/U9uX6VnE_PEgi4QMFULLUw--~B/aD00MDA7dz00MDA7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/us.finance.gurufocus/79f07f9d8c152373b559faa8542cf2a4"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2483312814","pubTimestamp":1731654567,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Revenue: Record revenue with a 20% increase quarter-on-quarter.Net Income: GAAP net income of $61 million due to deconsolidation adjustments.Earnings Per Share : Positive primary EPS of $6.43 and diluted EPS of $1.44.Cash Burn Rate: PAVmed's stand-alone burn rate for the third quarter is about breakeven.Operating Expenses: Total non-GAAP operating expenses of $10.1 million for the third quarter.Convertible Debt Restructuring: Agreement to exchange $25 million of existing obligations for Series C convertible preferred stock.NIH Grant: Received a $1.8 million NIH grant for Veris Health.Lucid Diagnostics Deconsolidation: Deconsolidation completed on September 10, reducing shareholder deficit by half.Lucid Share Ownership: PAVmed's balance sheet now includes $25.5 million market value of its 31.3 million Lucid shares.PAVmed Inc  reported a transformational quarter with strategic steps to strengthen its corporate structure and balance sheet.PAVmed Inc  restructured its convertible debt, all","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"PAVMZ":"PAVmed, Inc.","LUCD":"LUCID DIAGNOSTICS INC.","PAVM":"PAVmed Inc."},"translate_title":"PAVmed Inc(PAVM)2024年第三季度收益看涨期权亮点：创纪录的收入和战略重组","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PAVM":1,"LUCD":0.9,"PAVMZ":0.9},"content_text":"Revenue: Record revenue with a 20% increase quarter-on-quarter.\nNet Income: GAAP net income of $61 million due to deconsolidation adjustments.\nEarnings Per Share (EPS): Positive primary EPS of $6.43 and diluted EPS of $1.44.\nCash Burn Rate: PAVmed's stand-alone burn rate for the third quarter is about breakeven.\nOperating Expenses: Total non-GAAP operating expenses of $10.1 million for the third quarter.\nConvertible Debt Restructuring: Agreement to exchange $25 million of existing obligations for Series C convertible preferred stock.\nNIH Grant: Received a $1.8 million NIH grant for Veris Health.\nLucid Diagnostics Deconsolidation: Deconsolidation completed on September 10, reducing shareholder deficit by half.\nLucid Share Ownership: PAVmed's balance sheet now includes $25.5 million market value of its 31.3 million Lucid shares.\n\n\nWarning! GuruFocus has detected 5 Warning Signs with PAVM.\n\nRelease Date: November 14, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nPAVmed Inc (NASDAQ:PAVM) reported a transformational quarter with strategic steps to strengthen its corporate structure and balance sheet.\nThe company successfully deconsolidated Lucid Diagnostics, preserving ownership without absorbing operating losses.\nPAVmed Inc (NASDAQ:PAVM) restructured its convertible debt, allowing it to maintain its Nasdaq listing.\nLucid Diagnostics reported record revenue with a 20% increase quarter-on-quarter.\nVeris Health received a $1.8 million NIH grant to optimize its Cancer Care Platform for underserved patients.\n\n Negative Points \n\nThe deconsolidation of Lucid Diagnostics led to a significant change in PAVmed Inc (NASDAQ:PAVM)'s financial presentation, complicating comparisons.\nThe restructuring process delayed the capital raise for Veris Health, potentially affecting timelines for product development.\nPAVmed Inc (NASDAQ:PAVM) is reliant on obtaining direct funding for further R&D expenses, which could impact future operations if not secured.\nThe company faces challenges in maintaining sustainable compliance with Nasdaq listing standards.\nThe delay in financing may push the FDA submission for Veris Health's implantable monitor into the second half of 2025.\n\n Q & A Highlights \nQ: Could you share any learnings from your work with The Ohio State? A: We've had a strong engagement with The James Cancer Center at Ohio State University Medical Center. The pilot program enrolled 100 patients on the Veris platform and was extended for another 30 due to high demand. The pilot was successful, with positive feedback from the institution, and we're now discussing a strategic partnership for commercial engagement.\nQ: Regarding OpEx for PAVmed, how should we think about that in the coming quarters? A: The pro forma slide shows our baseline OpEx. As we secure direct financing for Veris or PortIO, that will drive additional operating expenses. For Veris, it's a couple of million dollars over 6-8 months, and for PortIO, about $4 million over 12 months. The baseline should continue, with changes expected in 2025.\nQ: Is the Veris program still on track for submission with the FDA on a 510(k) basis before the first half of '25? A: Due to delays in closing financing, the submission may extend into the early second half of 2025, but hopefully not by much.\nQ: How much total funding is lined up for the PMX incubator? A: We've engaged with an angel network to raise $4 million at a $42 million pre-money valuation. This will cover expenses for the second-generation PortIO and complete the IDE clinical trial to commercialization. The diligence process is nearly complete, and we expect to start raising cash soon.\nQ: What does the competitive slate look like for The Ohio State pilot? Were you competing against other diagnostic devices? A: The cancer center has not engaged with a digital health platform specific for cancer before. They are exploring options for a broader remote patient monitoring platform, but during the pilot, we were the only product utilized.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.2","shortVersion":"4.29.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2483312814"}