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Financials · LUNG

Pulmonx Corporation (LUNG) financials

For the twelve months ended Sep 30, 2026, Pulmonx Corporation reported $88.78M of revenue and -$42.55M of net income.

Revenue, TTM
$88.78M
Revenue growth, YoY
-3.2%
Net income, TTM
-$42.55M
Net margin
-47.9%
Free cash flow, TTM
-$25.61M
EPS, diluted, TTM
-$1.01
Cash
$52.69M
Total debt
$37.81M
P/S
1.37
Market cap
$121.9M
Annual revenue$90.50M
FY2018FY2025
Annual net income-$54.00M
FY2018FY2025
Annual free cash flow-$32.83M
FY2018FY2025

LUNG revenue and earnings growth

LUNG revenueQ3 2026$22.84M

Quarter YoY
+6.2%
QoQ
+0.3%
FY YoY
+8.0%
5Y CAGR
+22.6%

LUNG revenue was $22.84M in fiscal Q3 2026 (ended Sep 30, 2026), up 6.2% from a year earlier and up 0.3% from the prior quarter. For the full fiscal 2025 it was $90.50M, up 8.0% from fiscal 2024. Compound annual growth was +22.6% over 5 years. It rose in each of the last 7 fiscal years. Fiscal 2025 is the highest of the 8 fiscal years on file.

LUNG net incomeQ3 2026-$8.39M

LUNG net income was -$8.39M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$13.96M a year earlier. For the full fiscal 2025 it was -$54.00M, compared with -$56.39M in fiscal 2024.

LUNG EPSQ3 2026-$0.19

LUNG diluted EPS was -$0.19 in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$0.34 a year earlier. For the full fiscal 2025 it was -$1.33, compared with -$1.44 in fiscal 2024.

LUNG free cash flowQ3 2026-$3.19M

LUNG free cash flow was -$3.19M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$8.25M a year earlier. For the full fiscal 2025 it was -$32.83M, compared with -$32.98M in fiscal 2024.

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Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue$90.50M$83.79M$68.67M$53.66M$48.42M$32.73M$32.59M$20.00M
Cost of revenue$23.36M$21.79M$17.92M$13.80M$12.79M$11.53M$10.18M$7.72M
Gross profit$67.14M$62.00M$50.75M$39.87M$35.63M$21.20M$22.41M$12.29M
Research and development$19.49M$17.57M$18.08M$15.40M$13.06M$7.46M$6.05M$6.99M
Selling, general and admin$101.31M$102.14M$94.61M$83.11M$69.87M$46.07M$34.20M$20.35M
Operating income-$53.66M-$57.70M-$61.94M-$58.64M-$47.30M-$32.33M-$17.84M-$15.05M
Interest expense$3.15M$3.51M$3.23M$1.07M$829.0K$3.18M$2.32M$2.52M
Pre-tax income-$53.38M-$55.89M-$60.27M-$58.57M-$48.32M-$32.02M-$20.34M-$18.47M
Income tax$626.0K$500.0K$571.0K$353.0K$343.0K$213.0K$363.0K$12.0K
Net income-$54.00M-$56.39M-$60.84M-$58.92M-$48.66M-$32.23M-$20.70M-$18.48M
EPS, basic-$1.33-$1.44-$1.60-$1.59-$1.35-$3.16-$11.66-$11.03
EPS, diluted-$1.33-$1.44-$1.60-$1.59-$1.35-$3.16-$11.66-$11.03
Diluted shares40.7M39.1M38.0M37.1M36.1M10.2M1.8M1.7M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Cash and equivalents$69.75M$71.16M$83.78M$101.97M$148.71M$231.79M$14.77M$4.12M
Receivables$12.07M$13.12M$12.11M$8.68M$6.56M$4.23M$5.51M-
Inventory$15.85M$16.91M$16.74M$14.56M$16.29M$10.74M$5.61M-
Current assets$101.68M$136.25M$150.42M$168.95M$208.00M$249.99M$41.07M-
Goodwill$2.33M$2.33M$2.33M$2.33M$2.33M$2.33M$2.33M-
Total assets$129.29M$162.85M$177.78M$193.68M$235.17M$263.71M$53.53M-
Current liabilities$20.06M$24.44M$23.16M$18.49M$17.55M$12.53M$14.16M-
Short-term debt$106.0K$3.18M$2.15M$90.0K$91.0K$0--
Long-term debt$36.99M$34.00M$35.09M$17.23M$17.32M---
Total debt$37.09M$37.18M$37.24M$17.32M$17.41M$17.37M--
Total liabilities$75.17M$77.04M$59.47M$39.67M$41.93M$37.57M$35.57M-
Shareholders' equity$54.12M$85.81M$118.31M$154.01M$193.24M$226.13M-$187.38M-$167.33M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Operating cash flow-$32.38M-$31.54M-$37.61M-$45.08M-$41.39M-$30.63M-$20.77M-$18.39M
Capital expenditures$452.0K$1.45M$807.0K$1.32M$3.67M$911.0K$720.0K$316.0K
Free cash flow-$32.83M-$32.98M-$38.42M-$46.40M-$45.06M-$31.54M-$21.48M-$18.71M
Investing cash flow$30.48M$17.48M-$2.01M-$4.22M-$46.26M$12.69M-$14.23M$200.0K
Financing cash flow$833.0K$1.36M$21.40M$2.42M$4.46M$234.83M$45.62M$12.11M
Share repurchases--$0$27.0K$26.0K$21.0K$12.0K$0
Stock-based compensation$21.23M$22.95M$22.10M$16.45M$10.53M$3.20M$364.0K$366.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
Revenue growth, YoY8.0%22.0%28.0%10.8%47.9%0.4%62.9%-
Gross margin74.2%74.0%73.9%74.3%73.6%64.8%68.8%61.4%
Operating margin-59.3%-68.9%-90.2%-109.3%-97.7%-98.8%-54.7%-75.2%
Net margin-59.7%-67.3%-88.6%-109.8%-100.5%-98.5%-63.5%-92.4%
Free cash flow margin-36.3%-39.4%-55.9%-86.5%-93.1%-96.4%-65.9%-93.5%
Return on equity-99.8%-65.7%-51.4%-38.3%-25.2%-14.3%--
Return on assets-41.8%-34.6%-34.2%-30.4%-20.7%-12.2%-38.7%-
Current ratio5.075.586.509.1411.8519.962.90-
Debt to equity0.690.430.310.110.090.08--

Source: XBRL data Pulmonx Corporation files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

LUNG peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
LUNG$88.78M-3.2%-$42.55M-47.9%$121.9M
SYK$26.30B+7.9%$3.62B13.8%$124.00B
MMM$25.25B+1.7%$3.54B14.0%$97.47B
BSX$21.07B+8.9%$3.50B16.6%$63.81B
BDX$23.25B+17.4%$941.00M4.0%$58.63B
MDLN$30.68B-$683.00M2.2%$53.55B
RMD$5.73B+9.0%$1.59B27.8%$33.16B
DXCM$5.10B+13.0%$991.00M19.4%$30.24B
WST$3.40B+12.6%$638.90M18.8%$28.78B

LUNG FAQ

9 questions
  • What is LUNG revenue?
    Pulmonx Corporation (LUNG) reported $88.78M of revenue for the twelve months ended Sep 30, 2026. That is down 3.2% from the year before. Revenue for fiscal 2025 was $90.50M.
  • Is LUNG profitable?
    No. Pulmonx Corporation reported a net loss of $42.55M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does LUNG have?
    Pulmonx Corporation reported $52.69M in cash and cash equivalents and $37.81M of debt on its most recent balance sheet in SEC filings.
  • How fast is LUNG revenue growing?
    Pulmonx Corporation's revenue changed +8.0% in fiscal 2025, to $90.50M. Its compound annual growth rate was +22.6% over 5 years.
  • What is LUNG gross margin?
    Pulmonx Corporation's gross profit was $68.73M on $88.78M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 77.4%.
  • What is LUNG free cash flow?
    Pulmonx Corporation generated -$25.61M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$25.58M less capital expenditures.
  • What is LUNG earnings per share?
    Diluted earnings per share were -$1.01 for the twelve months ended Sep 30, 2026, from SEC filings, restated for any stock split those filings show.
  • When did LUNG last report financial results?
    The latest statements here come from Pulmonx Corporation's 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.
  • Where does this LUNG financial data come from?
    Quantisnow builds these statements from the structured XBRL data Pulmonx Corporation files with the SEC. It is provided for information only and is not investment advice.