NASDAQ : LUNG
Pulmonx Corporation — Financial statements
Healthcare · Medical Devices · United States
Last price 3.165 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 135.93M
Overview · Financial statements · Key statistics · Dividends · Company profile · Price history · Reports
Financial statements
Pulmonx Corporation (LUNG) reported revenue of 88.78M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Revenue | 88.78M | 90.50M | 83.79M | 68.67M | 53.66M | 48.42M |
| Cost of Revenue | 20.05M | 23.36M | 21.79M | 17.92M | 13.80M | 12.79M |
| Gross Profit | 68.73M | 67.14M | 62.00M | 50.75M | 39.87M | 35.63M |
| Selling, General & Admin | 88.75M | 101.31M | 102.14M | 94.61M | 83.11M | 69.87M |
| Research & Development | 19.38M | 19.49M | 15.85M | 18.08M | 15.40M | 13.06M |
| Operating Expenses | 108.13M | 120.80M | 117.99M | 112.69M | 98.50M | 82.93M |
| Operating Income | -39.41M | -53.66M | -55.99M | -61.94M | -58.64M | -47.30M |
| Interest Expense | -4.20M | -3.15M | -3.51M | -3.23M | -1.07M | -829.00K |
| Interest & Investment Income | 1.48M | 2.65M | 5.06M | 5.57M | 1.53M | 400.00K |
| Currency Exchange Gain (Loss) | 700.00K | 700.00K | 100.00K | -800.00K | -396.00K | -585.00K |
| Other Non Operating Income (Expenses) | -507.00K | 90.00K | 156.00K | 127.00K | ||
| EBT Excluding Unusual Items | -41.93M | -53.38M | -54.18M | -60.27M | -58.57M | -48.32M |
| Asset Writedown | -1.72M | |||||
| Pretax Income | -41.93M | -53.38M | -55.89M | -60.27M | -58.57M | -48.32M |
| Income Tax Expense | 619.00K | 626.00K | 500.00K | 571.00K | 353.00K | 343.00K |
| Net Income | -42.55M | -54.00M | -56.39M | -60.84M | -58.92M | -48.66M |
| Net Income to Common | -42.55M | -54.00M | -56.39M | -60.84M | -58.92M | -48.66M |
| Shares Outstanding (Basic) | 42.24M | 40.69M | 39.11M | 37.97M | 37.10M | 36.13M |
| Shares Outstanding (Diluted) | 42.24M | 40.69M | 39.11M | 37.97M | 37.10M | 36.13M |
| EPS (Basic) | -1.01 | -1.33 | -1.44 | -1.60 | -1.59 | -1.35 |
| EPS (Diluted) | -1.01 | -1.33 | -1.44 | -1.60 | -1.59 | -1.35 |
| Free Cash Flow | -32.83M | -32.98M | -38.42M | -46.40M | -45.06M | |
| Free Cash Flow Per Share | -0.81 | -0.84 | -1.01 | -1.25 | -1.25 | |
| Gross Margin | 77.42% | 74.19% | 74.00% | 73.90% | 74.29% | 73.59% |
| Operating Margin | -44.39% | -59.30% | -66.82% | -90.19% | -109.27% | -97.70% |
| Profit Margin | -47.93% | -59.67% | -67.31% | -88.60% | -109.80% | -100.51% |
| Free Cash Flow Margin | -36.27% | -39.37% | -55.94% | -86.47% | -93.07% | |
| EBITDA | -38.41M | -52.61M | -54.49M | -60.39M | -57.12M | -46.44M |
| EBITDA Margin | -43.27% | -58.13% | -65.04% | -87.93% | -106.45% | -95.91% |
| D&A For EBITDA | 997.00K | 1.05M | 1.49M | 1.55M | 1.51M | 867.00K |
| EBIT | -39.41M | -53.66M | -55.99M | -61.94M | -58.64M | -47.30M |
| EBIT Margin | -44.39% | -59.30% | -66.82% | -90.19% | -109.27% | -97.70% |
| Advertising Expenses | 10.10M | 7.90M | 4.80M | 6.10M | 5.10M |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 52.69M | 69.75M | 70.91M | 83.55M | 101.74M | 148.48M |
| Short-Term Investments | 30.58M | 33.55M | 39.40M | 31.56M | ||
| Cash & Short-Term Investments | 52.69M | 69.75M | 101.48M | 117.10M | 141.14M | 180.04M |
| Accounts Receivable | 12.01M | 12.07M | 13.12M | 12.11M | 8.68M | 6.56M |
| Other Receivables | 591.00K | 671.00K | 915.00K | 602.00K | 362.00K | |
| Receivables | 12.01M | 12.66M | 13.79M | 13.02M | 9.28M | 6.92M |
| Inventory | 15.44M | 15.85M | 16.91M | 16.74M | 14.56M | 16.29M |
| Prepaid Expenses | 3.66M | 2.68M | 2.67M | 2.82M | 3.45M | 4.17M |
| Restricted Cash | 257.00K | 258.00K | 257.00K | 237.00K | 231.00K | 231.00K |
| Other Current Assets | 491.00K | 1.13M | 504.00K | 290.00K | 347.00K | |
| Total Current Assets | 84.06M | 101.68M | 136.25M | 150.42M | 168.95M | 208.00M |
| Property, Plant & Equipment | 18.80M | 20.25M | 21.45M | 7.43M | 10.50M | 12.89M |
| Long-Term Investments | 14.39M | 5.92M | 10.94M | |||
| Goodwill | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M |
| Other Intangible Assets | 700.00K | 31.00K | 154.00K | 277.00K | ||
| Other Long-Term Assets | 5.02M | 4.33M | 2.82M | 3.17M | 5.81M | 731.00K |
| Total Assets | 110.21M | 129.29M | 162.85M | 177.78M | 193.68M | 235.17M |
| Accounts Payable | 4.51M | 3.90M | 3.83M | 1.50M | 1.76M | 1.58M |
| Accrued Expenses | 14.55M | 14.56M | 16.47M | 16.23M | 13.28M | 13.37M |
| Current Portion of Long-Term Debt | 100.00K | 106.00K | 3.18M | 2.15M | 90.00K | 91.00K |
| Current Portion of Leases | 1.39M | 1.21M | 778.00K | 3.07M | 3.23M | 2.20M |
| Current Income Taxes Payable | 171.00K | 263.00K | 49.00K | 93.00K | 19.00K | 147.00K |
| Current Unearned Revenue | 12.00K | 18.00K | 135.00K | 104.00K | 120.00K | 163.00K |
| Total Current Liabilities | 20.74M | 20.06M | 24.44M | 23.16M | 18.49M | 17.55M |
| Long-Term Debt | 37.71M | 36.99M | 34.00M | 35.09M | 17.23M | 17.32M |
| Long-Term Leases | 17.14M | 18.06M | 18.52M | 1.11M | 3.85M | 6.84M |
| Long-Term Deferred Tax Liabilities | 71.00K | 69.00K | 87.00K | 114.00K | 94.00K | 37.00K |
| Other Long-Term Liabilities | 345.00K | 179.00K | ||||
| Total Liabilities | 76.01M | 75.17M | 77.04M | 59.47M | 39.67M | 41.93M |
| Common Stock | 44.00K | 42.00K | 40.00K | 39.00K | 38.00K | 37.00K |
| Additional Paid-In Capital | 586.13M | 573.27M | 551.21M | 526.80M | 502.71M | 482.88M |
| Retained Earnings | -553.69M | -521.56M | -467.56M | -411.16M | -350.32M | -291.39M |
| Comprehensive Income & Other | 1.72M | 2.36M | 2.11M | 2.64M | 1.57M | 1.71M |
| Total Common Equity | 34.20M | 54.12M | 85.81M | 118.31M | 154.01M | 193.24M |
| Shareholders' Equity | 34.20M | 54.12M | 85.81M | 118.31M | 154.01M | 193.24M |
| Total Liabilities & Equity | 110.21M | 129.29M | 162.85M | 177.78M | 193.68M | 235.17M |
| Total Debt | 56.35M | 56.36M | 56.47M | 41.42M | 24.40M | 26.46M |
| Net Cash (Debt) | -3.66M | 13.39M | 45.01M | 90.07M | 122.66M | 164.52M |
| Net Cash Per Share | -0.09 | 0.33 | 1.15 | 2.37 | 3.31 | 4.55 |
| Filing Date Shares Outstanding | 43.18M | 42.24M | 39.80M | 38.54M | 37.65M | 37.02M |
| Total Common Shares Outstanding | 43.18M | 41.67M | 39.79M | 38.52M | 37.56M | 36.93M |
| Working Capital | 63.32M | 81.63M | 111.81M | 127.27M | 150.46M | 190.45M |
| Book Value Per Share | 0.79 | 1.30 | 2.16 | 3.07 | 4.10 | 5.23 |
| Tangible Book Value | 31.87M | 51.08M | 83.48M | 115.95M | 151.52M | 190.63M |
| Tangible Book Value Per Share | 0.74 | 1.23 | 2.10 | 3.01 | 4.03 | 5.16 |
| Machinery | 6.48M | 6.11M | 4.41M | 4.15M | 3.45M | |
| Construction In Progress | 51.00K | 206.00K | 2.20M | 1.82M | 1.33M | |
| Leasehold Improvements | 2.34M | 2.32M | 2.28M | 2.28M | 2.28M |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | -54.00M | -56.39M | -60.84M | -58.92M | -48.66M | |
| Depreciation & Amortization | 1.05M | 1.49M | 1.55M | 1.51M | 867.00K | |
| Other Amortization | 53.00K | 52.00K | 48.00K | 56.00K | 106.00K | |
| Loss (Gain) From Sale of Assets | -15.00K | 7.00K | ||||
| Asset Writedown & Restructuring Costs | 1.72M | 485.00K | 7.00K | |||
| Loss (Gain) From Sale of Investments | -379.00K | -1.62M | -1.02M | -204.00K | 59.00K | |
| Stock-Based Compensation | 21.23M | 22.95M | 22.10M | 16.45M | 10.53M | |
| Provision & Write-off of Bad Debts | 40.00K | -59.00K | 54.00K | 4.00K | ||
| Other Operating Activities | 1.59M | 1.92M | 3.19M | 2.50M | 3.55M | |
| Change in Accounts Receivable | 1.07M | -1.31M | -3.10M | -2.19M | -2.43M | |
| Change in Inventory | -765.00K | -229.00K | 918.00K | -3.64M | -6.46M | |
| Change in Accounts Payable | 270.00K | 2.28M | -345.00K | 247.00K | 87.00K | |
| Change in Unearned Revenue | -121.00K | 34.00K | -20.00K | -41.00K | 94.00K | |
| Change in Income Taxes | 194.00K | -38.00K | 68.00K | -124.00K | 21.00K | |
| Change in Other Net Operating Assets | -2.56M | -2.39M | -99.00K | -1.32M | 848.00K | |
| Operating Cash Flow | -32.38M | -31.54M | -37.61M | -45.08M | -41.39M | |
| Capital Expenditures | -452.00K | -1.45M | -807.00K | -1.32M | -3.67M | |
| Investment in Securities | 30.93M | 18.92M | -1.20M | -2.91M | -42.58M | |
| Investing Cash Flow | 30.48M | 17.48M | -2.01M | -4.22M | -46.26M | |
| Long-Term Debt Issued | 20.00M | |||||
| Total Debt Issued | 20.00M | |||||
| Long-Term Debt Repaid | -100.00K | -95.00K | -94.00K | -87.00K | ||
| Total Debt Repaid | -100.00K | -95.00K | -94.00K | -87.00K | ||
| Net Debt Issued (Repaid) | -100.00K | -95.00K | 19.91M | -87.00K | ||
| Issuance of Common Stock | 1.00M | 1.46M | 1.49M | 2.59M | 4.52M | |
| Other Financing Activities | -70.00K | -80.00K | -67.00K | |||
| Financing Cash Flow | 833.00K | 1.36M | 21.40M | 2.42M | 4.46M | |
| Foreign Exchange Rate Adjustments | -92.00K | 76.00K | 34.00K | 145.00K | 106.00K | |
| Net Cash Flow | -1.15M | -12.62M | -18.18M | -46.74M | -83.08M | |
| Free Cash Flow | -32.83M | -32.98M | -38.42M | -46.40M | -45.06M | |
| Free Cash Flow Margin | -36.27% | -39.37% | -55.94% | -86.47% | -93.07% | |
| Free Cash Flow Per Share | -0.81 | -0.84 | -1.01 | -1.25 | -1.25 | |
| Levered Free Cash Flow | -12.53M | -13.02M | -20.59M | -20.56M | -26.81M | |
| Unlevered Free Cash Flow | -10.61M | -10.88M | -18.62M | -19.95M | -26.40M | |
| Cash Interest Paid | 3.11M | 3.48M | 2.98M | 847.00K | 722.00K | |
| Cash Income Tax Paid | 468.00K | 556.00K | 471.00K | 398.00K | 322.00K | |
| Change in Working Capital | -1.93M | -1.70M | -2.56M | -7.01M | -7.85M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 129.06M | 91.16M | 268.12M | 488.43M | 315.36M | 1.18B |
| Enterprise Value | 132.72M | 71.17M | 216.15M | 390.89M | 183.63M | 1.01B |
| Last Close Price | 3.00 | 2.21 | 6.79 | 12.75 | 8.43 | 32.07 |
| PS Ratio | 1.45 | 1.01 | 3.20 | 7.11 | 5.88 | 24.40 |
| PB Ratio | 3.79 | 1.68 | 3.12 | 4.13 | 2.05 | 6.11 |
| P/TBV Ratio | 4.05 | 1.78 | 3.21 | 4.21 | 2.08 | 6.20 |
| EV/Sales Ratio | 1.49 | 0.79 | 2.58 | 5.69 | 3.42 | 20.77 |
| Debt / Equity Ratio | 1.65 | 1.04 | 0.66 | 0.35 | 0.16 | 0.14 |
| Net Debt / Equity Ratio | 0.11 | -0.25 | -0.53 | -0.76 | -0.80 | -0.85 |
| Net Debt / EBITDA Ratio | -0.10 | 0.25 | 0.83 | 1.49 | 2.15 | 3.54 |
| Net Debt / FCF Ratio | 0.41 | 1.36 | 2.34 | 2.64 | 3.65 | |
| Asset Turnover | 0.71 | 0.62 | 0.49 | 0.37 | 0.25 | 0.19 |
| Inventory Turnover | 1.27 | 1.43 | 1.29 | 1.15 | 0.89 | 0.95 |
| Quick Ratio | 3.12 | 4.11 | 4.72 | 5.62 | 8.13 | 10.65 |
| Current Ratio | 4.05 | 5.07 | 5.58 | 6.50 | 9.14 | 11.85 |
| Return on Equity (ROE) | -90.31% | -77.19% | -55.25% | -44.69% | -33.94% | -23.21% |
| Return on Assets (ROA) | -19.82% | -22.96% | -20.54% | -20.84% | -17.09% | -11.85% |
| Return on Capital Employed (ROCE) | -44.00% | -49.10% | -40.40% | -40.10% | -33.50% | -21.70% |
| Earnings Yield | -33.52% | -59.24% | -21.03% | -12.46% | -18.68% | -4.12% |
| FCF Yield | -23.76% | -36.01% | -12.30% | -7.87% | -14.71% | -3.81% |
| Buyback Yield / Dilution | -5.00% | -4.03% | -2.99% | -2.37% | -2.68% | -254.74% |