PULMONX CORPORATION

EDGAR

Annual consolidated revenue for 2025: about USD 90.5M, using the latest reported figures. The previous period, 2024, was about USD 83.79M.

Watchlist

Latest quarter

Revenue

22.8 million USD

2026 Q2 · USD

Exact inputs and evidence

Operating margin

-39.8%

2026 Q2 · %

Exact inputs and evidence
  • Operating Income: -9057000 USD Source
  • Revenue: 22756000 USD Source

Operating cash flow

-5.2 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -15300000 USD Source
  • Operating Cash Flow: -10100000 USD Source

Free cash flow

-5.2 million USD

2026 Q2 · USD

Exact inputs and evidence
  • Operating Cash Flow: -15300000 USD Source
  • Operating Cash Flow: -10100000 USD Source
  • Capital Expenditure: 10000 USD Source
  • Capital Expenditure: 9000 USD Source
Cash and cash equivalents
55.8 million USD Source
Exact value

55843000 USD

Long-term debt including current maturities
37.5 million USD Source
Exact value

37531000 USD

Shares outstanding
42.9 million shares Source
Exact value

42948269 shares

Reported share-count change

5.41% · 2.2 million shares

Year-over-year change in reported shares. Splits, issuance and buybacks can affect this figure; it does not isolate employee compensation or economic dilution.

Exact inputs and evidence
  • 40743806 shares · 2025-06-30· Source
  • 42948269 shares · 2026-06-30· Source

Trailing twelve months

The four most recent complete quarters added together. This gives a full-year view that includes the latest quarterly results.

Revenue

87.4 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Revenue: 21502000 USD · 2025-07-01 – 2025-09-30 Source
  • Revenue: 90497000 USD · 2025-01-01 – 2025-12-31 Source
  • Revenue: 67899000 USD · 2025-01-01 – 2025-09-30 Source
  • Revenue: 20586000 USD · 2026-01-01 – 2026-03-31 Source
  • Revenue: 22756000 USD · 2026-04-01 – 2026-06-30 Source

Net income

-48.1 million USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Net income: -13957000 USD · 2025-07-01 – 2025-09-30 Source
  • Net income: -54003000 USD · 2025-01-01 – 2025-12-31 Source
  • Net income: -43578000 USD · 2025-01-01 – 2025-09-30 Source
  • Net income: -13654000 USD · 2026-01-01 – 2026-03-31 Source
  • Net income: -10080000 USD · 2026-04-01 – 2026-06-30 Source

Capital expenditure

112 thousand USD

2025-07-01 – 2026-06-30

Exact inputs and evidence
  • Capital expenditure: 439000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 350000 USD · 2025-01-01 – 2025-06-30 Source
  • Capital expenditure: 452000 USD · 2025-01-01 – 2025-12-31 Source
  • Capital expenditure: 439000 USD · 2025-01-01 – 2025-09-30 Source
  • Capital expenditure: 9000 USD · 2026-01-01 – 2026-03-31 Source
  • Capital expenditure: 10000 USD · 2026-01-01 – 2026-06-30 Source
  • Capital expenditure: 9000 USD · 2026-01-01 – 2026-03-31 Source

Company performance

Up to ten complete financial years · consolidated figures

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-27.

Financial data available through: 2025-12-31.

Coverage by financial measure
  • Revenue: 8 of 11 periods available· newest 2025-12-31
  • Operating income: 8 of 11 periods available· newest 2025-12-31
  • Net income: 8 of 11 periods available· newest 2025-12-31
  • Operating cash flow: 8 of 11 periods available· newest 2025-12-31
  • Capital expenditure: 8 of 11 periods available· newest 2025-12-31
  • Total assets: 7 of 11 periods available· newest 2025-12-31
  • Total liabilities: 7 of 11 periods available· newest 2025-12-31
  • Current assets: 7 of 11 periods available· newest 2025-12-31
  • Current liabilities: 7 of 11 periods available· newest 2025-12-31
  • Cash and cash equivalents: 8 of 11 periods available· newest 2025-12-31
  • Long-term debt including current maturities: 6 of 11 periods available· newest 2025-12-31
  • Shares outstanding: 7 of 11 periods available· newest 2025-12-31

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

  • Revenue

    +8%

    Prior period

    USD 83.79 million

    –

    Current period

    USD 90.5 million

    –

    Exact inputs and evidence

    90497000 − 83789000 = 6708000 USD

    83789000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    90497000 USD · 2025-01-01 – 2025-12-31

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  • Net income

    +USD 2.39 million

    Prior period

    −USD 56.39 million

    –

    Current period

    −USD 54 million

    –

    Exact inputs and evidence

    -54003000 − -56394000 = 2391000 USD

    -56394000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -54003000 USD · 2025-01-01 – 2025-12-31

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  • Operating cash flow

    −USD 900,000

    Prior period

    −USD 31.5 million

    –

    Current period

    −USD 32.4 million

    –

    Exact inputs and evidence

    -32400000 − -31500000 = -900000 USD

    -31500000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    -32400000 USD · 2025-01-01 – 2025-12-31

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  • Capital expenditure

    -68.8%

    Prior period

    USD 1.45 million

    –

    Current period

    USD 452,000

    –

    Exact inputs and evidence

    452000 − 1447000 = -995000 USD

    1447000 USD · 2024-01-01 – 2024-12-31

    Inspect prior input Prior source

    452000 USD · 2025-01-01 – 2025-12-31

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Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

  • Revenue USD 90.5 million 100% of revenue
  • Cost of revenue USD 23.36 million 26% of revenue
  • Operating expenses USD 120.8 million 133% of revenue
  • Operating income −USD 53.66 million −59% of revenue
  • Tax, interest and other Derived USD 340,000 0.4% of revenue
  • Net income −USD 54 million −60% of revenue

Cash

  • Operating cash flow −USD 32.4 million −36% of revenue
  • Capital expenditure USD 452,000 0.5% of revenue
  • Free cash flow Derived −USD 32.85 million −36% of revenue

Share of revenue by period

  • Net income
  • Tax, interest and other
  • Operating costs
  • 2018 Operating loss: operating costs were 175% of revenue.
  • 2019 Operating loss: operating costs were 155% of revenue.
  • 2020 Operating loss: operating costs were 199% of revenue.
  • 2021 Operating loss: operating costs were 198% of revenue.
  • 2022 Operating loss: operating costs were 209% of revenue.
  • 2023 Operating loss: operating costs were 190% of revenue.
  • 2024 Operating loss: operating costs were 169% of revenue.
  • 2025 Operating loss: operating costs were 159% of revenue.
Values and sources
Revenue breakdown by annual reporting period
PeriodRevenueOperating costsOperating incomeTax, interest and otherNet incomeFree cash flowSource
2018 2018-01-01 – 2018-12-3120004000 35056000 Derived -15052000 3427000 Derived -18479000 -18716000 Derived
Source
2019 2019-01-01 – 2019-12-3132595000 50433000 Derived -17838000 2865000 Derived -20703000 -21520000 Derived
Source
2020 2020-01-01 – 2020-12-3132733000 65065000 Derived -32332000 -101000 Derived -32231000 -31511000 Derived
Source
2021 2021-01-01 – 2021-12-3148416000 95720000 Derived -47304000 1357000 Derived -48661000 -45071000 Derived
Source
2022 2022-01-01 – 2022-12-3153662000 112299000 Derived -58637000 286000 Derived -58923000 -46418000 Derived
Source
2023 2023-01-01 – 2023-12-3168675000 130610000 Derived -61935000 -1092000 Derived -60843000 -38407000 Derived
Source
2024 2024-01-01 – 2024-12-3183789000 141493000 Derived -57704000 -1310000 Derived -56394000 -32947000 Derived
Source
2025 2025-01-01 – 2025-12-3190497000 144160000 Derived -53663000 340000 Derived -54003000 -32852000 Derived
Source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 90.5M 2025
Revenue historyRevenue reported for each complete financial period. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.97.7M73.3M48.9M24.4M0.0201820222025
Values and sources
Revenue values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Revenue20004000
2019Revenue32595000
2020Revenue32733000
2021Revenue48416000
2022Revenue53662000
2023Revenue68675000
2024Revenue83789000
2025Revenue90497000

Revenue growth

Change in revenue from the same financial period one year earlier.

8% 2025
Revenue growth historyChange in revenue from the same financial period one year earlier. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.68%51%34%17%0%201820222025
Values and sources
Revenue growth values and source evidence
PeriodSeriesValueSource evidence
2018Year over yearNo prior comparable period
2019Year over year62.9%
2020Year over year0.4%
2021Year over year47.9%
2022Year over year10.8%
2023Year over year28%
2024Year over year22%
2025Year over year8%

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin -59.3% 2025
Net margin -59.7% 2025
Free cash flow margin -36.3% 2025
Profit margins historyOperating income, net income and free cash flow as a share of revenue. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.9%-23%-55%-87%-119%201820222025
  • Operating margin
  • Net margin
  • Free cash flow margin
Values and sources
Profit margins values and source evidence
PeriodSeriesValueSource evidence
2018Operating margin-75.2%
2019Operating margin-54.7%
2020Operating margin-98.8%
2021Operating margin-97.7%
2022Operating margin-109.3%
2023Operating margin-90.2%
2024Operating margin-68.9%
2025Operating margin-59.3%
2018Net margin-92.4%
2019Net margin-63.5%
2020Net margin-98.5%
2021Net margin-100.5%
2022Net margin-109.8%
2023Net margin-88.6%
2024Net margin-67.3%
2025Net margin-59.7%
2018Free cash flow margin-93.6%
2019Free cash flow margin-66%
2020Free cash flow margin-96.3%
2021Free cash flow margin-93.1%
2022Free cash flow margin-86.5%
2023Free cash flow margin-55.9%
2024Free cash flow margin-39.3%
2025Free cash flow margin-36.3%

Operating cash flow

Cash generated by the company’s normal business operations.

USD -32.4M 2025
Operating cash flow historyCash generated by the company’s normal business operations. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.6M-9.5M-22.6M-35.6M-48.7M201820222025
Values and sources
Operating cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Operating cash flow-18400000
2019Operating cash flow-20800000
2020Operating cash flow-30600000
2021Operating cash flow-41400000
2022Operating cash flow-45100000
2023Operating cash flow-37600000
2024Operating cash flow-31500000
2025Operating cash flow-32400000

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD -32.9M 2025
Free cash flow historyOperating cash flow minus capital expenditure for the same period and unit. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.3.7M-9.7M-23.2M-36.7M-50.1M201820222025
Values and sources
Free cash flow values and source evidence
PeriodSeriesValue(USD)Source evidence
2018Free cash flow-18716000
2019Free cash flow-21520000
2020Free cash flow-31511000
2021Free cash flow-45071000
2022Free cash flow-46418000
2023Free cash flow-38407000
2024Free cash flow-32947000
2025Free cash flow-32852000

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

58.1% 2025
Liabilities to assets historyTotal liabilities as a share of total assets. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.72%54%36%18%0%2018-12-3120222025
Values and sources
Liabilities to assets values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Liabilities / assetsNot reportedNo source recorded
2019Liabilities / assets66.4%
2020Liabilities / assets14.2%
2021Liabilities / assets17.8%
2022Liabilities / assets20.5%
2023Liabilities / assets33.4%
2024Liabilities / assets47.3%
2025Liabilities / assets58.1%

Current assets to current liabilities

Current assets divided by current liabilities.

5.07× 2025
Current assets to current liabilities historyCurrent assets divided by current liabilities. Values are shown by financial reporting period. Open Values and sources below for the exact observations and evidence.21.55×16.17×10.78×5.39×0.00×2018-12-3120222025
Values and sources
Current assets to current liabilities values and source evidence
PeriodSeriesValueSource evidence
2018-12-31Current assets / current liabilitiesNot reportedNo source recorded
2019Current assets / current liabilities2.9×
2020Current assets / current liabilities19.96×
2021Current assets / current liabilities11.85×
2022Current assets / current liabilities9.14×
2023Current assets / current liabilities6.5×
2024Current assets / current liabilities5.58×
2025Current assets / current liabilities5.07×

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
PeriodNet incomeOperating cash flowCapital expenditureFree cash flow
2018 2018-01-01 – 2018-12-31
−USD 18.48 million
Exact value

Exact value: -18479000 USD

2018-01-01 – 2018-12-31: -18479000 USD Inspect Net Income Open source
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−USD 18.4 million
Exact value

Exact value: -18400000 USD

2018-01-01 – 2018-12-31: -18400000 USD Inspect Operating Cash Flow Open source
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USD 316,000
Exact value

Exact value: 316000 USD

2018-01-01 – 2018-12-31: 316000 USD Inspect Capital Expenditure Open source
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−USD 18.72 million
Calculation and evidence

-18400000 − 316000 USD

Exact free cash flow: -18716000 USD

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2019 2019-01-01 – 2019-12-31
−USD 20.7 million
Exact value

Exact value: -20703000 USD

2019-01-01 – 2019-12-31: -20703000 USD Inspect Net Income Open source
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−USD 20.8 million
Exact value

Exact value: -20800000 USD

2019-01-01 – 2019-12-31: -20800000 USD Inspect Operating Cash Flow Open source
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USD 720,000
Exact value

Exact value: 720000 USD

2019-01-01 – 2019-12-31: 720000 USD Inspect Capital Expenditure Open source
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−USD 21.52 million
Calculation and evidence

-20800000 − 720000 USD

Exact free cash flow: -21520000 USD

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2020 2020-01-01 – 2020-12-31
−USD 32.23 million
Exact value

Exact value: -32231000 USD

2020-01-01 – 2020-12-31: -32231000 USD Inspect Net Income Open source
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−USD 30.6 million
Exact value

Exact value: -30600000 USD

2020-01-01 – 2020-12-31: -30600000 USD Inspect Operating Cash Flow Open source
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USD 911,000
Exact value

Exact value: 911000 USD

2020-01-01 – 2020-12-31: 911000 USD Inspect Capital Expenditure Open source
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−USD 31.51 million
Calculation and evidence

-30600000 − 911000 USD

Exact free cash flow: -31511000 USD

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2021 2021-01-01 – 2021-12-31
−USD 48.66 million
Exact value

Exact value: -48661000 USD

2021-01-01 – 2021-12-31: -48661000 USD Inspect Net Income Open source
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−USD 41.4 million
Exact value

Exact value: -41400000 USD

2021-01-01 – 2021-12-31: -41400000 USD Inspect Operating Cash Flow Open source
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USD 3.67 million
Exact value

Exact value: 3671000 USD

2021-01-01 – 2021-12-31: 3671000 USD Inspect Capital Expenditure Open source
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−USD 45.07 million
Calculation and evidence

-41400000 − 3671000 USD

Exact free cash flow: -45071000 USD

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2022 2022-01-01 – 2022-12-31
−USD 58.92 million
Exact value

Exact value: -58923000 USD

2022-01-01 – 2022-12-31: -58923000 USD Inspect Net Income Open source
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−USD 45.1 million
Exact value

Exact value: -45100000 USD

2022-01-01 – 2022-12-31: -45100000 USD Inspect Operating Cash Flow Open source
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USD 1.32 million
Exact value

Exact value: 1318000 USD

2022-01-01 – 2022-12-31: 1318000 USD Inspect Capital Expenditure Open source
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−USD 46.42 million
Calculation and evidence

-45100000 − 1318000 USD

Exact free cash flow: -46418000 USD

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2023 2023-01-01 – 2023-12-31
−USD 60.84 million
Exact value

Exact value: -60843000 USD

2023-01-01 – 2023-12-31: -60843000 USD Inspect Net Income Open source
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−USD 37.6 million
Exact value

Exact value: -37600000 USD

2023-01-01 – 2023-12-31: -37600000 USD Inspect Operating Cash Flow Open source
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USD 807,000
Exact value

Exact value: 807000 USD

2023-01-01 – 2023-12-31: 807000 USD Inspect Capital Expenditure Open source
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−USD 38.41 million
Calculation and evidence

-37600000 − 807000 USD

Exact free cash flow: -38407000 USD

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2024 2024-01-01 – 2024-12-31
−USD 56.39 million
Exact value

Exact value: -56394000 USD

2024-01-01 – 2024-12-31: -56394000 USD Inspect Net Income Open source
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−USD 31.5 million
Exact value

Exact value: -31500000 USD

2024-01-01 – 2024-12-31: -31500000 USD Inspect Operating Cash Flow Open source
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USD 1.45 million
Exact value

Exact value: 1447000 USD

2024-01-01 – 2024-12-31: 1447000 USD Inspect Capital Expenditure Open source
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−USD 32.95 million
Calculation and evidence

-31500000 − 1447000 USD

Exact free cash flow: -32947000 USD

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2025 2025-01-01 – 2025-12-31
−USD 54 million
Exact value

Exact value: -54003000 USD

2025-01-01 – 2025-12-31: -54003000 USD Inspect Net Income Open source
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−USD 32.4 million
Exact value

Exact value: -32400000 USD

2025-01-01 – 2025-12-31: -32400000 USD Inspect Operating Cash Flow Open source
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USD 452,000
Exact value

Exact value: 452000 USD

2025-01-01 – 2025-12-31: 452000 USD Inspect Capital Expenditure Open source
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−USD 32.85 million
Calculation and evidence

-32400000 − 452000 USD

Exact free cash flow: -32852000 USD

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Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

34 filings · 2,296 latest values · 2,296 originally reported values

Dataset published . Source filing dates and reporting periods are shown separately.

Identifiers: 0001127537, 1127537, LUNG, edgar:1127537

Also known as PULMONX, PULMONX CORPORATION, Pulmonx Corp