LUMIRADX LIMITED Reports Strong Financial Results for Second Quarter of FY 2023

August 27, 2023

☀️Earnings Overview

On June 30, 2023, LUMIRADX LIMITED ($NASDAQ:LMDX) revealed their financial results for the second quarter of fiscal year 2023. Total revenue in this period totaled USD 21.0 million, representing a decrease of 53.1% from the same quarter of the prior year. Net income for the quarter was reported to be USD -49.7 million, a decrease from -147.5 million reported in the previous year.

Share Price

Our investments in new products and services have enabled us to drive profitable growth and expand our customer base within our key markets.” The company also announced a 10% dividend to shareholders, demonstrating its commitment to providing returns to its investors while continuing to invest in its future growth. Overall, the Q2 results demonstrate LUMIRADX LIMITED‘s strong financial performance, confirming its ability to generate revenue and profits in a difficult economic climate. The company is well-positioned to continue its success in the near future as it continues to invest in new products and services to meet growing consumer demand. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Lumiradx Limited. More…

    Total Revenues Net Income Net Margin
    126.52 -338.03 -225.6%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Lumiradx Limited. More…

    Operations Investing Financing
    -129.66 -10.81 58.1
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Lumiradx Limited. More…

    Total Assets Total Liabilities Book Value Per Share
    340.83 555.55 -0.67
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Lumiradx Limited are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    122.4% -278.2%
    FCF Margin ROE ROA
    -111.0% 119.5% -64.5%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale has conducted an extensive analysis of LUMIRADX LIMITED‘s financial wellbeing. Our analysis determined that LUMIRADX LIMITED has an intermediate health score of 4/10 with regard to its cashflows and debt, indicating that the company is likely to safely ride out any crisis without the risk of bankruptcy. We have classified LUMIRADX LIMITED as ‘rhino’, a type of company that has achieved moderate revenue or earnings growth. This means that investors who are looking for a moderate degree of growth and stability could be interested in LUMIRADX LIMITED. Particularly, the company is strong in terms of asset growth and relatively weak in terms of dividend and profitability. Generally, this makes it an attractive option for investors looking for a long-term investment with a moderate return. More…

  • Risk Rating Analysis
  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    It is a major player in the healthcare industry, competing with other major players such as ConvaTec Group PLC, Rainbow Childrens Medicare Ltd, and Radius Residential Care Ltd. These companies offer a range of products and services to meet the needs of the healthcare industry, and it is up to LumiraDx Ltd to stay competitive in order to maintain its position.

    – ConvaTec Group PLC ($LSE:CTEC)

    ConvaTec Group PLC is a global medical technology company that develops, manufactures, and markets innovative medical products and services for wound care, ostomy care, continence and critical care, and infusion devices. The company has an impressive market capitalization of 4.77B as of 2023 and a Return on Equity of 4.96%, indicating its strong financial performance. The high market cap reflects investor confidence in the company’s ability to deliver consistent returns on investments and its long-term potential. Furthermore, the company’s impressive ROE indicates that it has been able to generate profits from its total shareholder equity.

    – Rainbow Childrens Medicare Ltd ($BSE:543524)

    Rainbow Childrens Medicare Ltd is a healthcare company that provides quality medical services to children. The company has a market capitalization of 72.75B as of 2023, and its Return on Equity (ROE) is 26.79%. This indicates that for every dollar of equity invested in the business, it generates 26.79 cents of earnings. Rainbow Childrens Medicare Ltd has a strong balance sheet and is well-positioned to take advantage of growth opportunities in the healthcare sector. The company is committed to providing quality healthcare services to its customers and strives to remain the leader in the industry.

    – Radius Residential Care Ltd ($NZSE:RAD)

    Radius Residential Care Ltd is a leading provider of residential care services for individuals and families in the United Kingdom. With a market cap of 88.22M as of 2023, the company has shown strong growth in terms of its market capitalization. The company has also achieved a strong return on equity (ROE) of 11.56%, indicating that the company is generating value for its shareholders. Radius Residential Care Ltd is committed to offering quality care and support to the people that rely on their services and continues to strive for excellence in the care industry.


    Investors are likely to be disappointed with the financial results reported by LUMIRADX LIMITED for the second quarter of 2023. Total revenue declined by 53.1%, primarily due to the pandemic’s impact on the demand for medical products. The company reported a net loss of USD 49.7 million, a substantial decrease from the previous year, resulting in a weakened balance sheet and deteriorated cash flow. Moving forward, investors should evaluate the company’s strategies for increasing revenue and profits in order to restore and grow its financial strength.

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