Pulmonx (LUNG) Company Report

Pulmonx announced the return of Glenn French as CEO and Derrick Sung as COO and CFO.
For Q3 2025, total worldwide revenue was $21.5 million, a 5% increase from the prior year, with a gross margin of 75%. The company reported a net loss of $14 million, or $0.34 per share.
The company updated its full-year 2025 guidance, expecting revenue in the range of $89-$90 million, a gross margin of approximately 73%, and operating expenses between $125-$126 million.
New management is focused on realigning spending, improving operating leverage, and extending the cash runway to drive sustainable, profitable growth, acknowledging slowing U.S. sales growth.

Nov 12, 2025, 9:30 PM

Transcript

Pulmonx Reports Third Quarter 2025 Financial Results and Updates Full Year Guidance

LUNG

Earnings

Guidance Update

Management Change

Pulmonx Corporation reported worldwide revenue of $21.5 million for the third quarter of 2025, marking a 5% increase over the same period last year.
The company achieved a gross margin of 75% in Q3 2025 and a net loss of $14.0 million, or $0.34 per share.
Pulmonx updated its full year 2025 total revenue outlook to a range of $89 million to $90 million.
Glen French was reappointed as President and Chief Executive Officer, and Derrick Sung was appointed as Chief Operating Officer and Chief Financial Officer.

Nov 12, 2025, 9:05 PM

8-K

Pulmonx Announces Management Transition and Preliminary Q3 2025 Revenue

LUNG

CEO Change

CFO Change

Earnings

Pulmonx Corporation announced a management transition, with Glen French reappointed President and CEO, effective immediately, and Derrick Sung appointed Chief Operating Officer and Chief Financial Officer, effective November 3, 2025.
Former President and CEO, Steve Williamson, and former CFO, Mehul Joshi, have resigned from their respective roles, effective immediately, and will serve in advisory capacities through December 1, 2025.
The company expects preliminary, unaudited third quarter 2025 revenue to be approximately $21.5 million.
The third quarter 2025 financial results release and accompanying conference call have been rescheduled to November 12, 2025.

Oct 27, 2025, 8:05 PM

8-K

Pulmonx Announces Management Transition and Preliminary Q3 2025 Revenue

LUNG

Management Change

CEO Change

CFO Change

Pulmonx announced a significant management transition, with Glen French reappointed as President and Chief Executive Officer, and Derrick Sung appointed as Chief Operating Officer and Chief Financial Officer.
Steve Williamson and Mehul Joshi have resigned from their respective roles, effective immediately.
The company anticipates preliminary, unaudited third quarter 2025 revenue to be approximately $21.5 million.
The release of third quarter 2025 financial results and the accompanying conference call has been rescheduled to November 12, 2025.

Oct 27, 2025, 8:05 PM

Press Release

Calyxo Expands Board and Achieves Patient Milestone

LUNG

Board Change

New Projects/Investments

Revenue Acceleration/Inflection

Calyxo, Inc. has expanded its Board of Directors with the appointment of Dana G. Mead, Jr., who brings four decades of medical device operating and investing experience.
The company announced that more than 20,000 patients have been treated to date with its CVAC System, which is used for the steerable ureteroscopic renal evacuation (SURE) procedure for kidney stone treatment.
The CVAC System, which was FDA-cleared in 2024, has demonstrated a mean stone clearance from 94-96% and resulted in 73% fewer healthcare consumption events compared to standard ureteroscopy in a two-year study.

Oct 8, 2025, 12:00 PM

Press Release

Pulmonx Corp. Discusses Business Strategy and Financials at Canaccord Conference

LUNG

Guidance Update

Product Launch

Revenue Acceleration/Inflection

Pulmonx Corp. presented at Canaccord's 45th Annual Global Growth Conference, focusing on its Zephyr valves for severe emphysema, which address a $12 billion total addressable market and are considered the standard of care.
For Q2 2025, Pulmonx reported revenue of $23.9 million, with $14.7 million from the US and $9.1 million from outside the US, and gross margins of 72%.
The company projects full-year revenue of $90 million to $92 million, implying 7% to 10% growth, noting that growth initiatives are taking longer than initially expected.
Pulmonx is implementing strategies to expand its market, including direct-to-patient advertising, the new LungTrax Detect product, and therapy awareness specialists, which led to record STRATX activity in June and July, a leading indicator for future revenue.
The company is also developing Aeroseal, expected to be approved around 2027 with revenue anticipated in 2028, and has reduced operating expense guidance through various cost efficiencies.

Aug 12, 2025, 4:55 PM

Pulmonx Reports Second Quarter 2025 Financial Results and Revises Full-Year Guidance

LUNG

Earnings

Guidance Update

Demand Weakening

Pulmonx reported worldwide revenue of $23.9 million for the second quarter of 2025, representing a 15% increase over the same period last year, with U.S. revenue at $14.7 million (up 6%) and international revenue at $9.1 million (up 32%).
For Q2 2025, the company recorded a net loss of $15.2 million, or $0.38 per share, and achieved a gross margin of 72%.
Pulmonx revised its full-year 2025 revenue guidance downward to a range of $90 million to $92 million, from its prior expectation of $96 million to $98 million. The company also adjusted its total operating expenses guidance to $128 million to $130 million and expects a full-year gross margin of approximately 74%.
As of June 30, 2025, Pulmonx held $84.2 million in cash, cash equivalents, and marketable securities.

Jul 30, 2025, 12:00 AM

8-K

Pulmonx Highlights Innovative Emphysema Treatment and Growth Strategy

LUNG

Revenue Acceleration/Inflection

New Projects/Investments

Market Potential: Pulmonx detailed a large addressable market for severe emphysema, estimating 500,000 eligible patients in the U.S. for its minimally invasive treatment.
Clinical Efficacy: The company emphasized that its Zephyr valves have become the standard of care, supported by four randomized controlled trials and over 40,000 treated patients, demonstrating significant improvements in lung function and quality of life.
Strong Financial Performance: Pulmonx reported solid revenue growth with Q1 U.S. revenue of $22.5 million and high margins of approximately 73%, while providing guidance for further revenue expansion to between $96 million and $98 million.
Expansion and Innovation: The firm is advancing its pipeline with next-generation products (including an IDE trial expected to lead to a PMA around 2027) and is expanding internationally into markets like China and Japan, leveraging technologies such as LungTrax and Stratix to optimize patient selection and workflow.

Jun 11, 2025, 3:07 PM

Pulmonx Corp Announces Q1 2025 Earnings Results

LUNG

Earnings

Revenue Acceleration/Inflection

Guidance Update

Worldwide Q1 revenue reached $22.5 million – a 20% YoY increase
U.S. sales were $14.2 million (up 11% YoY) and international sales were $8.3 million (up 39% YoY)
The company posted a net loss of $14.4 million
Reported a gross margin of 73%, with expectations to improve to approximately 74% later in the year
Reaffirmed full-year 2025 revenue guidance of $96–98 million
Executives highlighted strategic initiatives including increased clinician/patient engagement, expansion in China via significant distributor buying, and improved operational leverage through targeted educational and commercial programs
Extended the interest-only period via an amended loan agreement