Augmedix, Inc. (NASDAQ:AUGX) Q3 2022 Earnings Call Transcript

Manny Krakaris: Sure, Allen. On your second question, that’s correct. We’re looking for mid-single-digit sequential growth in our backs — from third quarter to the fourth quarter. So you are correct in your interpretation. Second, on gross margin, we are still — U.S revenue as a percent of our business has increased year-to-date. So we are still working with those headwinds, which would face our gross margin. We did see just some good efficiency and operating improvements in the third quarter relative to the second. And that sort of scale and efficiency drove the higher gross margin. So that was really it. We are still on the front end of the automation and technology improvements. We still believe we have significant gross margin expansion from those. But again, as we scale, our ability to be efficient with both our technology and labor improves, and we saw that in the third quarter.

Allen Klee: That’s great. Thanks so much.

Operator: Thank you. And at this time, we have no further questions registered. Please proceed with any additional comments.

Manny Krakaris: Well, I’d like to thank everybody for joining us on this earnings call. As I mentioned before, we’re really excited about the fourth quarter and beyond. We believe that we are very strongly positioned in the marketplace with our differentiated and very broad product portfolio to which we’re expanding with new offerings that we’ve already talked about in 2023. We continue to press on automating the medical note as much as possible, and we’re making tangible progress on that front. With that, I’ll conclude this session and thank everybody for joining us on this call. We look forward to keeping you updated on our next earnings call. Thank you.

Operator: Thank you, sir. Ladies and gentlemen, this does indeed conclude your conference call for today. Once again, thank you for attending. And at this time, we do ask that you please disconnect your lines.