Allurion Announces Preliminary First Quarter 2024 Results
Allurion Technologies, Inc. (“Allurion” or the “Company”) (NYSE: ALUR), a company dedicated to ending obesity, today announced preliminary, unaudited results for the first quarter 2024.
- Allurion Technologies, Inc. (“Allurion” or the “Company”) (NYSE: ALUR), a company dedicated to ending obesity, today announced preliminary, unaudited results for the first quarter 2024.
- Management expects preliminary unaudited results for the period as follows:
Revenue in the range of $9.2 million to $9.3 million, reflecting growth of between 12%-13% over the fourth quarter of 2023
Procedural volume growth, as estimated by new app users, reflecting 22% growth over the fourth quarter of 2023
Cash burn in the range of $8 million to $9 million, down from $22 million in the fourth quarter of 2023, and in line with targeted cash burn of approximately $30 million for the year
“We are encouraged by our growth in the first quarter in both revenue and procedural volume, while slowing our cash burn rate,” said Dr. Shantanu Gaur, Founder and Chief Executive Officer. - “We believe awareness and demand for the Allurion Program will continue to grow in subsequent quarters, and we expect the business to feed off of recent catalysts, including the launch of the Allurion Virtual Care Suite in the United States and the first reimbursed procedures in the United Kingdom.”
The Company will host a conference call on Tuesday, May 14, 2024, at 8:30 AM ET to discuss first quarter financial results and provide a business update.