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Jun 30, 2024
Allurion Q2 2024 Earnings Report
Reported strong sequential revenue growth and record procedure volume.
Key Takeaways
Allurion Technologies, Inc. announced its Q2 2024 financial results, highlighted by a sequential revenue increase of $2.4 million from Q1 2024, reaching $11.8 million, and a 12% year-over-year growth in procedure volume. The company's loss from operations decreased by 30% compared to the previous year, and they updated their full-year 2024 revenue guidance to between $40 million and $45 million.
Second quarter revenue reached $11.8 million, a sequential increase of $2.4 million or 25% from the first quarter of 2024.
Second quarter loss from operations reduced by 30% compared to the year-ago period and by 44% when one-time financing costs are excluded.
Procedure volume grew by 12% year-over-year, a quarterly record that equated to over 10,000 Allurion balloon placements for the second consecutive quarter.
Full-year 2024 revenue guidance updated to between $40 million and $45 million.
Allurion
Allurion
Forward Guidance
Allurion is updating its full-year 2024 revenue guidance to between $40 million and $45 million and expects growth in procedure volume to be between 10% and 15%.
Challenges Ahead
- Disruption of sales in France due to regulatory suspension.
- More conservative assumptions on inventory stocking.
- Macroeconomic headwinds in other regions.
- Slower growth expected in the second half of 2024.
- Reductions in sales to certain accounts to manage credit risk.