Why Shares of Augmedix Are Climbing on Tuesday
Shares of Augmedix (NASDAQ: AUGX) were up more than 15% as of 3:15 p.m. ET on Tuesday. The healthcare company's shares were given a boost by improved earnings in its second-quarter report, which it released after the markets closed on Monday. The stock is up more than 205% this year.
Augmedix provides automated medical documentation and data services to large healthcare systems and physician practices. The company reported second-quarter revenue of $10.8 million, up 47% year over year. The company said the rise was due to a growing adoption of the company's Augmedix Notes platform.
The company also reported improved gross margin of 47%, compared to 43.7% in the same period a year ago. While Augmedix lost $5 million, that's better than the $7.3 million it lost in the second quarter of 2022.
Source Fool.com
