Allurion Technologies (ALUR) Q4 2024 earnings summary

Executive summary

• Fourth quarter 2024 revenue was $5.6 million; full-year revenue reached $32.1 million, in line with prior guidance.

• Operating expenses in Q4 2024 fell 39% year-over-year to $19.6 million, including $3.8 million in one-time restructuring charges.

• Cleared to resume sales in France in February 2025; positive topline results from the AUDACITY FDA clinical trial support PMA submission.

• Combination therapy of Allurion Balloon with low-dose GLP-1s is showing promising clinical results, with ongoing and planned prospective studies.

• Recent financings expected to fund operations through potential FDA approval in 2026.

Financial highlights

• Q4 2024 revenue was $5.6 million, down from $8.2 million in Q4 2023, mainly due to the temporary suspension in France and macroeconomic headwinds.

• Q4 2024 gross profit was $2.5 million (45% margin), down from $6.4 million (78% margin) in Q4 2023, impacted by lower revenue and production volumes.

• Full-year 2024 gross profit was $21.5 million (67% margin); margin expected to expand in 2025 as sales in France resume.

• Q4 2024 loss from operations was $17.1 million, compared to $25.7 million in Q4 2023, including $4.6 million in restructuring and financing costs.

• Cash and cash equivalents at year-end were $15.4 million.

Outlook and guidance

• 2025 revenue is expected to be approximately $30 million, with operating expenses projected to decline by 50% year-over-year.

• Gross margin is expected to expand in 2025 as inventory normalizes and France sales resume.

• Ex-U.S. business targeted to achieve profitability by end of 2025.

• No material revenue contribution from France expected until late 2025 or 2026.

• EBITDA positivity targeted for 2026, with cash runway through FDA approval.