LUNG · Pulmonx Corp - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $20.59M | - | $21.50M | $23.86M | $22.54M | - | $20.39M | $20.78M | $18.85M | - |
| Cost of Revenue | $4.54M | - | $5.45M | $6.66M | $6.20M | - | $5.36M | $5.48M | $4.78M | - |
| Gross Profit | $16.04M | - | $16.05M | $17.20M | $16.34M | - | $15.03M | $15.31M | $14.08M | - |
| R&D | $4.90M | - | $4.85M | $5.31M | $4.76M | - | $3.74M | $5.62M | $4.21M | - |
| SG&A | $24.10M | - | $25.60M | $26.70M | $26.15M | - | $25.41M | $25.31M | $24.40M | - |
| Total Operating Expenses | $29.00M | - | $30.45M | $32.01M | $30.91M | - | $29.16M | $30.93M | $28.61M | - |
| D&A | $200.0K | - | $300.0K | $300.0K | $300.0K | - | $300.0K | $300.0K | $300.0K | - |
| Operating Income | ($12.96M) | - | ($14.39M) | ($14.80M) | ($14.56M) | - | ($14.13M) | ($15.62M) | ($14.54M) | - |
| Interest Expense | $976.0K | - | $805.0K | $799.0K | $883.0K | - | $891.0K | $891.0K | $883.0K | - |
| Income Tax | $149.0K | - | $128.0K | $177.0K | $135.0K | - | $192.0K | $84.0K | $186.0K | - |
| Net Income | ($13.65M) | - | ($13.96M) | ($15.17M) | ($14.45M) | - | ($14.14M) | ($15.33M) | ($13.75M) | - |
| EPS - Basic | ($0.33) | - | ($0.34) | ($0.38) | ($0.36) | - | ($0.36) | ($0.39) | ($0.36) | - |
| EPS - Diluted | ($0.33) | - | ($0.34) | ($0.38) | ($0.36) | - | ($0.36) | ($0.39) | ($0.36) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $61.57M | $69.75M | $76.55M | $75.47M | $74.56M | $70.91M | $63.31M | $63.46M | $70.16M | $83.55M |
| Accounts Receivable | $10.83M | $12.07M | $13.80M | $15.90M | $13.97M | $13.12M | $11.67M | $11.08M | $10.52M | $12.11M |
| Inventory | $16.31M | $15.85M | $16.25M | $16.18M | $16.81M | $16.91M | $16.96M | $16.98M | $17.23M | $16.74M |
| Accounts Payable | $3.47M | $3.90M | $6.42M | $6.56M | $4.28M | $3.83M | $4.58M | $3.18M | $3.13M | $1.50M |
| Current Assets | $92.75M | $101.68M | $111.23M | $120.02M | $123.94M | $136.25M | $140.93M | $146.16M | $147.94M | $150.42M |
| Total Assets | $119.97M | $129.29M | $138.28M | $147.19M | $150.74M | $162.85M | $167.40M | $172.63M | $164.58M | $177.78M |
| Current Liabilities | $18.91M | $20.06M | $22.88M | $22.45M | $24.95M | $24.44M | $18.30M | $16.30M | $21.29M | $23.16M |
| Long-term Debt | $37.21M | $36.99M | $37.02M | $37.01M | $29.39M | $34.00M | $37.14M | $37.11M | $32.00M | $35.09M |
| Total Liabilities | $74.20M | $75.17M | $78.25M | $78.10M | $73.07M | $77.04M | $73.48M | $71.44M | $54.09M | $59.47M |
| Stockholders' Equity | $45.76M | $54.12M | $60.03M | $69.09M | $77.67M | $85.81M | $93.92M | $101.18M | $110.50M | $118.31M |
| Retained Earnings | ($535.21M) | ($521.56M) | ($511.13M) | ($497.18M) | ($482.00M) | ($467.56M) | ($454.38M) | ($440.24M) | ($424.91M) | ($411.16M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($10.10M) | - | - | - | ($13.22M) | - | - | - | ($11.79M) | - |
| Investing Cash Flow | ($9.0K) | - | - | - | $16.31M | - | - | - | ($2.51M) | - |
| Financing Cash Flow | $2.03M | - | - | - | $664.0K | - | - | - | $864.0K | - |
| CapEx | $9.0K | - | - | - | $301.0K | - | - | - | $451.0K | - |
| Free Cash Flow | ($10.11M) | - | - | - | ($13.52M) | - | - | - | ($12.25M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 77.9% | - | 74.7% | 72.1% | 72.5% | - | 73.7% | 73.7% | 74.7% | - |
| Operating margin | -62.9% | - | -66.9% | -62.0% | -64.6% | - | -69.3% | -75.2% | -77.1% | - |
| EBITDA margin | -62.0% | - | -65.5% | -60.8% | -63.3% | - | -67.8% | -73.7% | -75.5% | - |
| Net margin | -66.3% | - | -64.9% | -63.6% | -64.1% | - | -69.4% | -73.7% | -72.9% | - |
| Free cash flow margin | -49.1% | - | - | - | -60.0% | - | - | - | -65.0% | - |
| FCF / Net income | 0.74 | - | - | - | 0.94 | - | - | - | 0.89 | - |
| R&D / Revenue | 23.8% | - | 22.5% | 22.2% | 21.1% | - | 18.4% | 27.0% | 22.3% | - |
| SG&A / Revenue | 117.1% | - | 119.1% | 111.9% | 116.0% | - | 124.6% | 121.8% | 129.4% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -11.4% | - | -10.1% | -10.3% | -9.6% | - | -8.4% | -8.9% | -8.4% | - |
| Return on equity | -29.8% | - | -23.2% | -22.0% | -18.6% | - | -15.1% | -15.1% | -12.4% | - |
| Return on invested capital | -12.3% | - | -11.7% | -11.0% | -10.7% | - | -8.5% | -8.9% | -8.1% | - |
| Liquidity | ||||||||||
| Current ratio | 4.91 | 5.07 | 4.86 | 5.35 | 4.97 | 5.58 | 7.70 | 8.97 | 6.95 | 6.50 |
| Quick ratio | 4.04 | 4.28 | 4.15 | 4.63 | 4.29 | 4.88 | 6.77 | 7.92 | 6.14 | 5.77 |
| Cash ratio | 3.26 | 3.48 | 3.35 | 3.36 | 2.99 | 2.90 | 3.46 | 3.89 | 3.29 | 3.61 |
| Leverage | ||||||||||
| Debt / Equity | 0.81 | 0.68 | 0.62 | 0.54 | 0.38 | 0.40 | 0.40 | 0.37 | 0.29 | 0.30 |
| Debt / Assets | 0.31 | 0.29 | 0.27 | 0.25 | 0.19 | 0.21 | 0.22 | 0.21 | 0.19 | 0.20 |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -13.3x | - | -17.9x | -18.5x | -16.5x | - | -15.9x | -17.5x | -16.5x | - |
| Equity multiplier | 2.62 | 2.39 | 2.30 | 2.13 | 1.94 | 1.90 | 1.78 | 1.71 | 1.49 | 1.50 |
| Liabilities / Assets | 0.62 | 0.58 | 0.57 | 0.53 | 0.48 | 0.47 | 0.44 | 0.41 | 0.33 | 0.33 |
| Efficiency | ||||||||||
| Asset turnover | 0.17 | - | 0.16 | 0.16 | 0.15 | - | 0.12 | 0.12 | 0.11 | - |
| Inventory turnover | 0.28 | - | 0.34 | 0.41 | 0.37 | - | 0.32 | 0.32 | 0.28 | - |
| Days sales outstanding | 192d | - | 234d | 243d | 226d | - | 209d | 195d | 204d | - |
| Days inventory outstanding | 1311d | - | 1088d | 887d | 990d | - | 1155d | 1132d | 1317d | - |
| Days payable outstanding | 279d | - | 430d | 360d | 252d | - | 312d | 212d | 239d | - |
| Cash conversion cycle | 1224d | - | 892d | 771d | 964d | - | 1052d | 1114d | 1282d | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | 1.2x | - | 1.1x | 1.5x | 3.5x | - | 3.5x | 2.4x | 3.2x | - |
| P / S | 2.6x | - | 3.1x | 4.4x | 11.9x | - | 16.0x | 11.9x | 19.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -8.7% | - | 5.5% | 14.8% | 19.5% | - | 15.4% | 20.9% | 29.7% | - |
| Revenue CAGR (3y) | 12.3% | - | 16.8% | 19.6% | 27.8% | - | 15.4% | 19.4% | 26.8% | - |
| Revenue CAGR (5y) | 17.4% | - | 18.8% | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -1.8% | - | 6.8% | 12.4% | 16.1% | - | 15.3% | 20.2% | 32.9% | - |
| Operating income growth (YoY) | 11.0% | - | -1.9% | 5.2% | -0.2% | - | 6.9% | 5.0% | 11.4% | - |
| Net income growth (YoY) | 5.5% | - | 1.3% | 1.0% | -5.1% | - | 5.1% | 5.4% | 13.3% | - |
| EPS growth (YoY) | 8.3% | - | 5.6% | 2.6% | 0.0% | - | 7.7% | 9.3% | 14.3% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | 25.3% | - | - | - | -10.4% | - | - | - | 3.6% | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -41.1% | -36.9% | -36.1% | -31.7% | -29.7% | -27.5% | -25.3% | -24.5% | -23.2% | -23.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-12-31.
Geographic
$90.50M totalUS$57.02M · 63.0%
EMEA$26.98M · 29.8%
Asia Pacific$6.23M · 6.9%
Other International Geographical Areas$260.0K · 0.3%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Pulmonx Corp against the 5 most active filers in the same SIC group.