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Dec 31, 2023
Allurion Q4 2023 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2023, and reiterated 2024 guidance.
Key Takeaways
Allurion Technologies reported Q4 2023 revenue of $8.2 million, compared to $19.2 million for the same period in 2022. The company's cash and cash equivalents totaled $38 million as of December 31, 2023. They are reiterating the financial guidance it previously published for full year 2024.
Reiterated 2024 guidance on procedural volume, revenue, gross margin, and cash burn.
Fourth quarter revenue was $8.2 million and full year 2023 revenue was $53.5 million, consistent with preannouncement on January 8.
Procedural volume, as estimated through new app users, increased by 30% over 2022.
Completed enrollment in the AUDACITY pivotal trial ahead of schedule.
Allurion
Allurion
Forward Guidance
For full year 2024, Allurion reiterates the financial guidance it previously published:
Positive Outlook
- Anticipated procedural volumes 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 12-22% growth year-over-year
- Expected gross margins of 77-79%, reflecting durable pricing of our gastric balloon as well as initial commercialization efforts for the Allurion Virtual Care Suite SaaS product
- Targeted cash burn of approximately $30 million for the full year