PULM · Pulmatrix, Inc. - 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 | - | - | - | - | - | - | $366.0K | $1.55M | $5.88M | - |
| Cost of Revenue | - | - | - | - | - | - | - | - | - | - |
| Gross Profit | - | - | - | - | - | - | - | - | - | - |
| R&D | $3.0K | - | $8.0K | $14.0K | $19.0K | - | $814.0K | $2.83M | $3.51M | - |
| SG&A | $1.29M | - | $858.0K | $1.53M | $1.83M | - | $2.21M | $2.00M | $1.63M | - |
| Total Operating Expenses | $1.29M | - | $866.0K | $1.55M | $1.85M | - | $3.02M | $7.45M | $5.14M | - |
| D&A | - | - | - | - | - | - | - | - | $59.0K | - |
| Operating Income | ($1.29M) | - | ($866.0K) | ($1.55M) | ($1.85M) | - | ($2.66M) | ($5.90M) | $747.0K | - |
| Interest Expense | - | - | - | - | - | - | - | - | - | - |
| Income Tax | - | - | $0 | $0 | $0 | - | $0 | $0 | $0 | - |
| Net Income | ($1.17M) | - | ($877.0K) | ($1.55M) | ($1.81M) | - | ($2.59M) | ($5.81M) | $825.0K | - |
| EPS - Basic | ($0.32) | - | ($0.24) | ($0.42) | $0.50 | - | ($0.71) | ($1.59) | $0.23 | - |
| EPS - Diluted | ($0.32) | - | ($0.24) | ($0.42) | $0.50 | - | ($0.71) | ($1.59) | $0.23 | - |
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 | $3.32M | $4.09M | $4.79M | $5.83M | $7.71M | $9.52M | $10.78M | $12.38M | $16.30M | $19.17M |
| Accounts Receivable | - | - | - | - | $16.0K | - | $23.0K | $635.0K | $570.0K | $928.0K |
| Inventory | - | - | - | - | - | - | - | - | - | - |
| Accounts Payable | $651.0K | $272.0K | $69.0K | $384.0K | $657.0K | $809.0K | $373.0K | $393.0K | $721.0K | $1.92M |
| Current Assets | $4.49M | $4.13M | $4.97M | $6.14M | $8.04M | $9.92M | $11.45M | $15.64M | $17.58M | $20.84M |
| Total Assets | $4.50M | $4.14M | $4.98M | $6.15M | $8.05M | $9.94M | $11.51M | $15.78M | $30.39M | $33.96M |
| Current Liabilities | $905.0K | $329.0K | $249.0K | $548.0K | $903.0K | $929.0K | $590.0K | $2.47M | $3.14M | $3.91M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $905.0K | $329.0K | $249.0K | $548.0K | $904.0K | $996.0K | $590.0K | $2.47M | $11.37M | $15.96M |
| Stockholders' Equity | $3.59M | $3.81M | $4.73M | $5.60M | $7.15M | $8.95M | $10.92M | $13.31M | $19.02M | $18.00M |
| Retained Earnings | ($303.49M) | ($302.32M) | ($301.39M) | ($300.51M) | ($298.96M) | ($297.16M) | ($295.17M) | ($292.58M) | ($286.77M) | ($287.60M) |
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 | ($1.07M) | - | - | - | ($1.81M) | - | - | - | ($2.72M) | - |
| Investing Cash Flow | - | - | - | - | - | - | - | - | ($154.0K) | - |
| Financing Cash Flow | $1.00M | - | - | - | - | - | - | - | - | - |
| CapEx | - | - | - | - | - | - | - | - | $154.0K | - |
| Free Cash Flow | - | - | - | - | - | - | - | - | ($2.87M) | - |
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 | - | - | - | - | - | - | - | - | - | - |
| Operating margin | - | - | - | - | - | - | -726.0% | -380.2% | 12.7% | - |
| EBITDA margin | - | - | - | - | - | - | - | - | 13.7% | - |
| Net margin | - | - | - | - | - | - | -706.8% | -374.4% | 14.0% | - |
| Free cash flow margin | - | - | - | - | - | - | - | - | -48.8% | - |
| FCF / Net income | - | - | - | - | - | - | - | - | -3.48 | - |
| R&D / Revenue | - | - | - | - | - | - | 222.4% | 182.6% | 59.7% | - |
| SG&A / Revenue | - | - | - | - | - | - | 603.6% | 128.9% | 27.6% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | 0.0% | - |
| Return on assets | -26.1% | - | -17.6% | -25.2% | -22.5% | - | -22.5% | -36.8% | 2.7% | - |
| Return on equity | -32.6% | - | -18.5% | -27.6% | -25.3% | - | -23.7% | -43.7% | 4.3% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 4.96 | 12.55 | 19.97 | 11.21 | 8.90 | 10.68 | 19.40 | 6.33 | 5.59 | 5.33 |
| Quick ratio | 4.96 | 12.55 | 19.97 | 11.21 | 8.90 | 10.68 | 19.40 | 6.33 | 5.59 | 5.33 |
| Cash ratio | 3.67 | 12.43 | 19.25 | 10.63 | 8.54 | 10.25 | 18.27 | 5.01 | 5.18 | 4.90 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | - | - | - | - | - | - | - | - | - | - |
| Equity multiplier | 1.25 | 1.09 | 1.05 | 1.10 | 1.13 | 1.11 | 1.05 | 1.19 | 1.60 | 1.89 |
| Liabilities / Assets | 0.20 | 0.08 | 0.05 | 0.09 | 0.11 | 0.10 | 0.05 | 0.16 | 0.37 | 0.47 |
| Efficiency | ||||||||||
| Asset turnover | - | - | - | - | - | - | 0.03 | 0.10 | 0.19 | - |
| Inventory turnover | - | - | - | - | - | - | - | - | - | - |
| Days sales outstanding | - | - | - | - | - | - | 23d | 149d | 35d | - |
| Days inventory outstanding | - | - | - | - | - | - | - | - | - | - |
| Days payable outstanding | - | - | - | - | - | - | - | - | - | - |
| Cash conversion cycle | - | - | - | - | - | - | - | - | - | - |
| Valuation | ||||||||||
| P / E | - | - | - | - | - | - | - | - | - | - |
| P / B | - | - | - | - | - | - | - | - | - | - |
| P / S | - | - | - | - | - | - | - | - | - | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | - | - | - | - | - | - | -79.1% | -15.8% | 292.6% | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | -30.0% | -11.7% | 61.8% | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | -23.6% | - | 107.5% | - |
| Gross profit growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| Operating income growth (YoY) | 30.0% | - | 67.4% | 73.8% | - | - | 32.5% | -47.9% | - | - |
| Net income growth (YoY) | 35.2% | - | 66.1% | 73.3% | - | - | 31.5% | -52.3% | - | - |
| EPS growth (YoY) | - | - | 66.2% | 73.6% | 117.4% | - | 31.1% | -16.9% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | - | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -49.8% | -57.4% | -56.7% | -57.9% | -62.4% | -50.3% | -45.1% | -43.2% | -29.6% | -42.2% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Product / service
$6.90M totalResearch And Development Service$6.90M · 100.0%
Peer comparison
Same SIC group: Pharmaceutical Preparations
Comparing Pulmatrix against the 5 most active filers in the same SIC group.