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

Manny Krakaris: Well, it was done for two reasons. One was to obviously broaden the universe of doctors that we could service with our solutions. Because not every doctor or every health care system is on an Android system. So there are some large healthcare systems that are exclusively iOS. So we want to make sure that we were not excluding those from our prospect list. And the other was in anticipation of the rollout of our fully automated solution, which we call go, Augmedix go. That’s going to be rolled out in 2023 and it will be an iOS based client device solution.

Ryan Daniels: Okay, perfect. And then just final question here, you discuss this a little bit, but any more feedback on the Prep product? I know you mentioned its saving about an hour and a half of burden for clinicians. Obviously, that’s got to be favorable for them and for an ROI perspective, but just what’s the early feedback or reception you’re seeing either with new clients or within the existing client base? Thank you.

Manny Krakaris: Sure. So we are getting good reception. One of our large enterprise customers is we’re in negotiations with them on finalizing a contract for Augmedix Prep. We’re encouraged by the progress we’ve made with them and with other clients on deploying that product across their systems. So I remain optimistic that Augmedix Prep will resonate with several big enterprise customers.

Operator: Do you have any further questions, Mr. Daniels?

Ryan Daniels: No, I’m all set. Thank you very much.

Operator: Thank you. Next question will be from Marc Wiesenberger at B. Riley Securities. Please go ahead, sir.

Marc Wiesenberger: Yep, thank you. Good afternoon. If you could touch on a little bit more about the Google Cloud integration and the potential for customers to leverage the spend through you, and maybe how you see that accelerating growth.

Manny Krakaris: Sure, Hey, Mark. So we formalized our partnership and membership in Google Cloud Platform marketplace. That’s a formal contract that we executed. But we also had to technically integrate into that system, which allows their customers or their cloud customers to go online, get in this portal, the Google portal and select the services that they would wish to — that they wish to subscribe to, we are one of those services. And they furthermore on that portal, through that portal can pay for those services, based on the commitments they’ve already made to Google with respect to the annual spend, that they’ve committed to. So what it does for us is it eliminates one of the significant barriers or time syncs in the sales cycle. And that is the budgetary process, because they’ve already gone through it when they did the annual commitment with Google for their cloud. And so that just shortens the sales cycle with those customers.

Marc Wiesenberger: Got it. Understood. And that kind of dovetails with my next question. If you could talk about the current level of integration across the range of EHRs that you work for, and maybe that could provide additional self service opportunities. And how do you think about that going forward?

Manny Krakaris: Sure. Great question, Marc. So we are ongoing — we are — our efforts to integrate with Epic, Cerner, Allscripts, et cetera, the big EMRs are ongoing. We are fully integrated with Athena as you may already know. And integration into the EMR unlocks Augmedix Go. So it is a an imperative of ours to ensure that we are as integrated as possible with as many EMRs as possible. And so we have dedicated ample resources towards that effort, which is ongoing.