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Mar 31, 2024
Allurion Q1 2024 Earnings Report
Allurion's first quarter 2024 results were announced, demonstrating revenue growth and reduced cash burn.
Key Takeaways
Allurion Technologies, Inc. reported first quarter 2024 revenue of $9.4 million, a 14% increase from the fourth quarter of 2023. The company's cash burn was reduced to $8.4 million, and procedural volume increased by 12% year-over-year. They also launched the Virtual Care Suite (VCS) digital platform in the United States and closed a $48 million convertible senior secured note financing.
First quarter revenue reached $9.4 million, a 14% increase from the fourth quarter of 2023.
Procedural volume increased 12% year-over-year from the first quarter of 2023.
Cash burn was reduced to $8.4 million, down from $22 million in the fourth quarter of 2023.
The Virtual Care Suite (VCS) digital platform was launched in the United States.
Allurion
Allurion
Forward Guidance
For the full year 2024, Allurion reiterates its financial guidance, expecting procedural volume growth of 20% and revenue between $60 to $65 million, with a gross margin of 77-79% and a cash burn of approximately $30 million.
Positive Outlook
- Procedural volume growth of 20%, reflecting increased penetration in key direct markets and reallocation of marketing spend to more efficient channels
- Revenue of $60 to $65 million, reflecting 13-23% growth year-over-year
- Gross margins of 77-79%, reflecting durable pricing of our gastric balloon
- Initial commercialization efforts for the Allurion Virtual Care Suite SaaS product
- Cash burn of approximately $30 million for the full year