8-K Announcements
6Apr 29, 2026·SEC
Mar 5, 2026·SEC
Mar 4, 2026·SEC
Pulmonx Corporation (LUNG) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Pulmonx Corporation (LUNG) stock price & volume — 10-year historical chart
Pulmonx Corporation (LUNG) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Pulmonx Corporation (LUNG) competitors in Respiratory and sleep therapy devices — business model, growth, and fundamentals comparison
Pulmonx Corporation (LUNG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Pulmonx Corporation (LUNG) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 20M | 32.59M | 32.73M | 48.42M | 53.66M | 68.67M | 83.79M | 90.5M |
| Revenue Growth % | - | 62.94% | 0.42% | 47.91% | 10.84% | 27.98% | 22.01% | 8.01% |
| Cost of Goods Sold | 7.72M | 10.18M | 11.53M | 12.79M | 13.8M | 17.92M | 21.79M | 23.36M |
| COGS % of Revenue | 38.58% | 31.23% | 35.23% | 26.41% | 25.71% | 26.1% | 26% | 25.81% |
| Gross Profit | 12.29M▲ 0% | 22.41M▲ 82.4% | 21.2M▼ 5.4% | 35.63M▲ 68.1% | 39.87M▲ 11.9% | 50.75M▲ 27.3% | 62M▲ 22.2% | 67.14M▲ 8.3% |
| Gross Margin % | 61.42% | 68.77% | 64.77% | 73.59% | 74.29% | 73.9% | 74% | 74.19% |
| Gross Profit Growth % | - | 82.44% | -5.41% | 68.05% | 11.89% | 27.31% | 22.16% | 8.29% |
| Operating Expenses | 27.34M | 40.25M | 53.53M | 82.93M | 98.5M | 112.69M | 119.7M | 120.8M |
| OpEx % of Revenue | 136.66% | 123.49% | 163.55% | 171.29% | 183.56% | 164.09% | 142.86% | 133.49% |
| Selling, General & Admin | 20.35M | 34.2M | 46.07M | 69.87M | 83.11M | 94.61M | 102.14M | 101.31M |
| SG&A % of Revenue | 101.71% | 104.93% | 140.76% | 144.31% | 154.87% | 137.76% | 121.9% | 111.95% |
| Research & Development | 6.99M | 6.05M | 7.46M | 13.06M | 15.4M | 18.08M | 17.57M | 19.49M |
| R&D % of Revenue | 34.95% | 18.56% | 22.79% | 26.98% | 28.69% | 26.33% | 20.97% | 21.54% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -15.05M▲ 0% | -17.84M▼ 18.5% | -32.33M▼ 81.3% | -47.3M▼ 46.3% | -58.64M▼ 24.0% | -61.94M▼ 5.6% | -57.7M▲ 6.8% | -53.66M▲ 7.0% |
| Operating Margin % | -75.24% | -54.73% | -98.77% | -97.7% | -109.27% | -90.19% | -68.87% | -59.3% |
| Operating Income Growth % | - | -18.51% | -81.25% | -46.31% | -23.96% | -5.62% | 6.83% | 7% |
| EBITDA | -14.78M | -16.64M | -31.93M | -46.44M | -57.12M | -59.99M | -56.11M | -52.61M |
| EBITDA Margin % | -73.9% | -51.04% | -97.55% | -95.91% | -106.45% | -87.35% | -66.97% | -58.13% |
| EBITDA Growth % | - | -12.55% | -91.93% | -45.42% | -23.01% | -5.01% | 6.46% | 6.24% |
| D&A (Non-Cash Add-back) | 270K | 1.2M | 400K | 867K | 1.51M | 1.95M | 1.59M | 1.05M |
| EBIT | -15.95M | -18.02M | -28.84M | -47.49M | -57.5M | -57.04M | -52.39M | -53.66M |
| Net Interest Income | -2.5M | -1.89M | -2.97M | -429K | 463K | 2.34M | 1.55M | -504K |
| Interest Income | 21K | 432K | 213K | 400K | 1.53M | 5.57M | 5.06M | 2.65M |
| Interest Expense | 2.52M | 2.32M | 3.18M | 829K | 1.07M | 3.23M | 3.51M | 3.15M |
| Other Income/Expense | -3.42M | -2.5M | 314K | -1.01M | 67K | 1.66M | 1.81M | 286K |
| Pretax Income | -18.47M▲ 0% | -20.34M▼ 10.1% | -32.02M▼ 57.4% | -48.32M▼ 50.9% | -58.57M▼ 21.2% | -60.27M▼ 2.9% | -55.89M▲ 7.3% | -53.38M▲ 4.5% |
| Pretax Margin % | -92.32% | -62.4% | -97.82% | -99.8% | -109.15% | -87.76% | -66.71% | -58.98% |
| Income Tax | 12K | 363K | 213K | 343K | 353K | 571K | 500K | 626K |
| Effective Tax Rate % | -0.06% | -1.78% | -0.67% | -0.71% | -0.6% | -0.95% | -0.89% | -1.17% |
| Net Income | -18.48M▲ 0% | -20.7M▼ 12.0% | -32.23M▼ 55.7% | -48.66M▼ 51.0% | -58.92M▼ 21.1% | -60.84M▼ 3.3% | -56.39M▲ 7.3% | -54M▲ 4.2% |
| Net Margin % | -92.38% | -63.52% | -98.47% | -100.51% | -109.8% | -88.6% | -67.3% | -59.67% |
| Net Income Growth % | - | -12.04% | -55.68% | -50.98% | -21.09% | -3.26% | 7.31% | 4.24% |
| Net Income (Continuing) | -18.48M | -20.7M | -32.23M | -48.66M | -58.92M | -60.84M | -56.39M | -54M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.89▲ 0% | -0.58▲ 34.8% | -0.90▼ 55.2% | -1.35▼ 50.0% | -1.59▼ 17.8% | -1.60▼ 0.6% | -1.44▲ 10.0% | -1.33▲ 7.6% |
| EPS Growth % | - | 34.83% | -55.17% | -50% | -17.78% | -0.63% | 10% | 7.64% |
| EPS (Basic) | -0.89 | -0.58 | -0.90 | -1.35 | -1.59 | -1.60 | -1.44 | -1.33 |
| Diluted Shares Outstanding | 20.71M | 35.43M | 35.69M | 36.13M | 37.1M | 37.97M | 39.11M | 40.69M |
| Basic Shares Outstanding | 20.71M | 35.43M | 35.69M | 36.13M | 37.1M | 37.97M | 39.11M | 40.69M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - |
Pulmonx Corporation (LUNG) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 11.31M | 41.07M | 249.99M | 208M | 168.95M | 150.42M | 136.25M | 101.68M |
| Cash & Short-Term Investments | 4.12M | 28.35M | 231.79M | 180.04M | 141.14M | 117.1M | 101.48M | 70.01M |
| Cash Only | 4.12M | 14.77M | 231.79M | 148.48M | 101.74M | 83.55M | 70.91M | 70.01M |
| Short-Term Investments | 0 | 13.58M | 0 | 31.56M | 39.4M | 33.55M | 30.58M | 0 |
| Accounts Receivable | 3.42M | 6M | 4.57M | 6.92M | 9.28M | 13.02M | 13.79M | 12.07M |
| Days Sales Outstanding | 62.42 | 67.17 | 50.93 | 52.2 | 63.11 | 69.2 | 60.08 | 48.69 |
| Inventory | 3.32M | 5.61M | 10.74M | 16.29M | 14.56M | 16.74M | 16.91M | 15.85M |
| Days Inventory Outstanding | 157.01 | 201.2 | 339.99 | 464.89 | 385.29 | 340.97 | 283.37 | 247.6 |
| Other Current Assets | 125K | 666K | 377K | 578K | 521K | 741K | 1.39M | 3.76M |
| Total Non-Current Assets | 3.71M | 12.46M | 13.72M | 27.17M | 24.72M | 27.36M | 26.6M | 27.61M |
| Property, Plant & Equipment | 375K | 7.46M | 10.45M | 12.89M | 10.5M | 7.43M | 21.45M | 20.25M |
| Fixed Asset Turnover | 53.34x | 4.37x | 3.13x | 3.76x | 5.11x | 9.24x | 3.91x | 4.47x |
| Goodwill | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M |
| Intangible Assets | 647K | 524K | 400K | 277K | 154K | 31K | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 10.94M | 5.92M | 14.39M | 0 | 0 |
| Other Non-Current Assets | 350K | 2.14M | 536K | 731K | 5.81M | 3.17M | 2.82M | 5.03M |
| Total Assets | 15.01M▲ 0% | 53.53M▲ 256.6% | 263.71M▲ 392.6% | 235.17M▼ 10.8% | 193.68M▼ 17.6% | 177.78M▼ 8.2% | 162.85M▼ 8.4% | 129.29M▼ 20.6% |
| Asset Turnover | 1.33x | 0.61x | 0.12x | 0.21x | 0.28x | 0.39x | 0.51x | 0.70x |
| Asset Growth % | - | 256.58% | 392.61% | -10.82% | -17.65% | -8.21% | -8.4% | -20.61% |
| Total Current Liabilities | 8.07M | 14.16M | 12.53M | 17.55M | 18.49M | 23.16M | 24.44M | 20.06M |
| Accounts Payable | 1.29M | 2.68M | 1.47M | 1.58M | 1.76M | 1.5M | 3.83M | 3.9M |
| Days Payables Outstanding | 60.96 | 96.12 | 46.59 | 45.16 | 46.51 | 30.49 | 64.11 | 61.02 |
| Short-Term Debt | 0 | 0 | 2.24M | 91K | 90K | 2.15M | 3.18M | 1.32M |
| Deferred Revenue (Current) | 139K | 173K | 71K | 163K | 120K | 104K | 135K | 18K |
| Other Current Liabilities | 2.49M | 6.47M | 3.1M | 4.74M | 4.97M | 7.88M | 6.89M | 14.56M |
| Current Ratio | 1.40x | 2.90x | 19.96x | 11.85x | 9.14x | 6.50x | 5.58x | 5.07x |
| Quick Ratio | 0.99x | 2.50x | 19.10x | 10.92x | 8.35x | 5.77x | 4.88x | 4.28x |
| Cash Conversion Cycle | 158.47 | 172.25 | 344.32 | 471.92 | 401.9 | 379.68 | 279.33 | 235.27 |
| Total Non-Current Liabilities | 174.27M | 226.75M | 25.05M | 24.38M | 21.18M | 36.31M | 52.6M | 55.12M |
| Long-Term Debt | 33.6M | 220.3M | 17.37M | 17.32M | 17.23M | 35.09M | 34M | 36.99M |
| Capital Lease Obligations | 0 | 6.4M | 7.62M | 6.84M | 3.85M | 1.11M | 18.52M | 18.06M |
| Deferred Tax Liabilities | 48K | 43K | 62K | 37K | 94K | 114K | 87K | 69K |
| Other Non-Current Liabilities | 140.61M | 0 | 0 | 179K | 0 | 0 | 0 | 0 |
| Total Liabilities | 182.34M | 240.91M | 37.57M | 41.93M | 39.67M | 59.47M | 77.04M | 75.17M |
| Total Debt | 33.6M | 227.15M | 27.22M | 26.46M | 24.4M | 41.42M | 56.47M | 56.36M |
| Net Debt | 29.48M | 212.39M | -204.57M | -122.02M | -77.33M | -42.12M | -14.43M | -13.64M |
| Debt / Equity | - | - | 0.12x | 0.14x | 0.16x | 0.35x | 0.66x | 1.04x |
| Debt / EBITDA | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - |
| Interest Coverage | -6.33x | -7.78x | -9.07x | -57.28x | -53.94x | -17.65x | -14.94x | -17.01x |
| Total Equity | -167.33M▲ 0% | -187.38M▼ 12.0% | 226.13M▲ 220.7% | 193.24M▼ 14.5% | 154.01M▼ 20.3% | 118.31M▼ 23.2% | 85.81M▼ 27.5% | 54.12M▼ 36.9% |
| Equity Growth % | - | -11.98% | 220.68% | -14.55% | -20.3% | -23.18% | -27.47% | -36.93% |
| Book Value per Share | -8.08 | -5.29 | 6.34 | 5.35 | 4.15 | 3.12 | 2.19 | 1.33 |
| Total Shareholders' Equity | -167.33M | -187.38M | 226.13M | 193.24M | 154.01M | 118.31M | 85.81M | 54.12M |
| Common Stock | 17K | 19K | 36K | 37K | 38K | 39K | 40K | 42K |
| Retained Earnings | -189.8M | -210.5M | -242.73M | -291.39M | -350.32M | -411.16M | -467.56M | -521.56M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.33M | 1.37M | 1.69M | 1.71M | 1.57M | 2.64M | 2.11M | 2.36M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pulmonx Corporation (LUNG) cash flow — operating, investing & free cash flow history
| Line item | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -18.39M | -20.77M | -30.63M | -41.43M | -45.14M | -37.61M | -31.54M | -32.45M |
| Operating CF Margin % | -91.95% | -63.71% | -93.58% | -85.57% | -84.11% | -54.77% | -37.64% | -35.85% |
| Operating CF Growth % | - | -12.89% | -47.52% | -35.24% | -8.95% | 16.67% | 16.15% | -2.88% |
| Net Income | -18.48M | -20.7M | -32.23M | -48.66M | -58.92M | -60.84M | -56.39M | -54M |
| Depreciation & Amortization | 270K | 365K | 483K | 3.16M | 4M | 1.55M | 1.49M | 1.15M |
| Stock-Based Compensation | 366K | 364K | 3.2M | 0 | 0 | 22.1M | 22.95M | 0 |
| Deferred Taxes | 936K | 746K | 0 | -6K | 49K | 0 | 0 | 0 |
| Other Non-Cash Items | 36K | 864K | 2.71M | 11.92M | 16.8M | 2.14M | 2.11M | 22.33M |
| Working Capital Changes | -1.52M | -2.4M | -4.79M | -7.84M | -7.06M | -2.56M | -1.7M | -1.93M |
| Change in Receivables | -262K | -2.52M | 1.46M | -2.43M | -2.19M | -3.1M | -1.31M | 1.07M |
| Change in Inventory | -1.25M | -2.61M | -5.05M | -6.46M | -3.64M | 918K | -229K | -765K |
| Change in Payables | -648K | 524K | 592K | 87K | 247K | -345K | 2.28M | 270K |
| Cash from Investing | 200K | -14.23M | 12.69M | -46.26M | -4.22M | -2.01M | 17.48M | 30.48M |
| Capital Expenditures | -316K | -720K | -911K | -3.67M | -1.32M | -807K | -1.45M | -452K |
| CapEx % of Revenue | 1.58% | 2.21% | 2.78% | 7.58% | 2.46% | 1.18% | 1.73% | 0.5% |
| Acquisitions | 16K | 13.51M | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - |
| Other Investing | 16K | -13.51M | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | 12.11M | 45.62M | 234.83M | 4.5M | 2.47M | 21.4M | 1.36M | 903K |
| Debt Issued (Net) | 12M | 6M | 32.99M | 0 | -87K | 19.91M | -95K | -100K |
| Equity Issued (Net) | 0 | 39.67M | 201.39M | 4.5M | 2.56M | 0 | 0 | 1M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -12K | 0 | -26K | -27K | 0 | 0 | 0 |
| Other Financing | 114K | -52K | 446K | 0 | 0 | 1.49M | 1.46M | 0 |
| Net Change in Cash | -5.93M▲ 0% | 10.64M▲ 279.6% | 217.03M▲ 1939.1% | -83.08M▼ 138.3% | -46.74M▲ 43.7% | -18.18M▲ 61.1% | -12.62M▲ 30.6% | -1.15M▲ 90.9% |
| Free Cash Flow | -18.71M▲ 0% | -21.48M▼ 14.8% | -31.54M▼ 46.8% | -45.1M▼ 43.0% | -46.45M▼ 3.0% | -38.42M▲ 17.3% | -32.98M▲ 14.1% | -32.9M▲ 0.3% |
| FCF Margin % | -93.53% | -65.92% | -96.37% | -93.15% | -86.57% | -55.94% | -39.37% | -36.35% |
| FCF Growth % | - | -14.83% | -46.82% | -42.97% | -3% | 17.3% | 14.14% | 0.26% |
| FCF per Share | -0.90 | -0.61 | -0.88 | -1.25 | -1.25 | -1.01 | -0.84 | -0.81 |
| FCF Conversion (FCF/Net Income) | 1.00x | 1.00x | 0.95x | 0.85x | 0.77x | 0.62x | 0.56x | 0.60x |
| Interest Paid | 1.36M | 1.4M | 3.06M | 0 | 0 | 2.98M | 3.48M | 0 |
| Taxes Paid | 226K | 196K | 259K | 0 | 0 | 471K | 556K | 0 |
Pulmonx Corporation (LUNG) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | - | -166.33% | -23.21% | -33.94% | -44.68% | -55.25% | -77.19% |
| Return on Invested Capital (ROIC) | - | -53.5% | -104.13% | -76.47% | -59.47% | -60.77% | -58.66% | -71.97% |
| Gross Margin | 61.42% | 68.77% | 64.77% | 73.59% | 74.29% | 73.9% | 74% | 74.19% |
| Net Margin | -92.38% | -63.52% | -98.47% | -100.51% | -109.8% | -88.6% | -67.3% | -59.67% |
| Debt / Equity | - | - | 0.12x | 0.14x | 0.16x | 0.35x | 0.66x | 1.04x |
| Interest Coverage | -6.33x | -7.78x | -9.07x | -57.28x | -53.94x | -17.65x | -14.94x | -17.01x |
| FCF Conversion | 1.00x | 1.00x | 0.95x | 0.85x | 0.77x | 0.62x | 0.56x | 0.60x |
| Revenue Growth | - | 62.94% | 0.42% | 47.91% | 10.84% | 27.98% | 22.01% | 8.01% |
Pulmonx Corporation (LUNG) SEC filings — annual & quarterly reports (10-K, 10-Q)
Apr 29, 2026·SEC
Mar 5, 2026·SEC
Mar 4, 2026·SEC
Pulmonx Corporation (LUNG) stock FAQ — growth, dividends, profitability & financials explained
Pulmonx Corporation (LUNG) reported $90.5M in revenue for fiscal year 2025. This represents a 352% increase from $20.0M in 2018.
Pulmonx Corporation (LUNG) grew revenue by 8.0% over the past year. This is steady growth.
Pulmonx Corporation (LUNG) reported a net loss of $54.0M for fiscal year 2025.
Pulmonx Corporation (LUNG) has a return on equity (ROE) of -77.2%. Negative ROE indicates the company is unprofitable.
Pulmonx Corporation (LUNG) had negative free cash flow of $32.9M in fiscal year 2025, likely due to heavy capital investments.
Pulmonx Corporation (LUNG) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates