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Stocks · Health care · Surgical & Medical Instruments & Apparatus

Pulmonx Corp

LUNG Clue Score49
United States Fiscal year ends December CIK 0001127537
$1.84 +1.66% Close, 9 Oct 2026
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Price $1.84 −95.17% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 1 Oct 2020. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2018Revenue20.0Operating income−15.1Net income−18.5Fiscal year 2019Revenue32.6 +62.9%Operating income−17.8Net income−20.7Fiscal year 2020Revenue32.7 +0.4%Operating income−32.3Net income−32.2EPS, diluted−3.16Fiscal year 2021Revenue48.4 +47.9%Operating income−47.3Net income−48.7EPS, diluted−1.35Fiscal year 2022Revenue53.7 +10.8%Operating income−58.6Net income−58.9EPS, diluted−1.59Fiscal year 2023Revenue68.7 +28.0%Operating income−61.9Net income−60.8EPS, diluted−1.60Fiscal year 2024Revenue83.8 +22.0%Operating income−57.7Net income−56.4EPS, diluted−1.44Fiscal year 2025Revenue90.5 +8.0%Operating income−53.7Net income−54.0EPS, diluted−1.33
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 20.0 32.6 32.7 48.4 53.7 68.7 83.8 90.5
Growth +62.9% +0.4% +47.9% +10.8% +28.0% +22.0% +8.0%
Operating income −15.1 −17.8 −32.3 −47.3 −58.6 −61.9 −57.7 −53.7
Net income −18.5 −20.7 −32.2 −48.7 −58.9 −60.8 −56.4 −54.0
Growth
EPS, diluted n/a n/a −3.16 −1.35 −1.59 −1.60 −1.44 −1.33

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Gross marginOperating marginNet margin
Fiscal year 2018Gross margin61.4%Operating margin−75.2%Net margin−92.4%Free cash flow margin−93.5%Fiscal year 2019Gross margin68.8%Operating margin−54.7%Net margin−63.5%Free cash flow margin−65.9%Fiscal year 2020Gross margin64.8%Operating margin−98.8%Net margin−98.5%Free cash flow margin−96.4%Fiscal year 2021Gross margin73.6%Operating margin−97.7%Net margin−100.5%Free cash flow margin−93.1%Fiscal year 2022Gross margin74.3%Operating margin−109.3%Net margin−109.8%Free cash flow margin−86.5%Fiscal year 2023Gross margin73.9%Operating margin−90.2%Net margin−88.6%Free cash flow margin−55.9%Fiscal year 2024Gross margin74.0%Operating margin−68.9%Net margin−67.3%Free cash flow margin−39.4%Fiscal year 2025Gross margin74.2%Operating margin−59.3%Net margin−59.7%Free cash flow margin−36.3%
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Gross margin 61.4% 68.8% 64.8% 73.6% 74.3% 73.9% 74.0% 74.2%
Operating margin −75.2% −54.7% −98.8% −97.7% −109.3% −90.2% −68.9% −59.3%
Net margin −92.4% −63.5% −98.5% −100.5% −109.8% −88.6% −67.3% −59.7%
Free cash flow margin −93.5% −65.9% −96.4% −93.1% −86.5% −55.9% −39.4% −36.3%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flowCapital expenditureFree cash flow
Fiscal year 2018Operating cash flow−18.4Capital expenditure−0.3Free cash flow−18.7Buybacks0.0Fiscal year 2019Operating cash flow−20.8Capital expenditure−0.7Free cash flow−21.5Buybacks−0.0Fiscal year 2020Operating cash flow−30.6Capital expenditure−0.9Free cash flow−31.5Buybacks−0.0Fiscal year 2021Operating cash flow−41.4Capital expenditure−3.7Free cash flow−45.1Buybacks−0.0Fiscal year 2022Operating cash flow−45.1Capital expenditure−1.3Free cash flow−46.4Buybacks−0.0Fiscal year 2023Operating cash flow−37.6Capital expenditure−0.8Free cash flow−38.4Buybacks0.0Fiscal year 2024Operating cash flow−31.5Capital expenditure−1.4Free cash flow−33.0Fiscal year 2025Operating cash flow−32.4Capital expenditure−0.5Free cash flow−32.8
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow −18.4 −20.8 −30.6 −41.4 −45.1 −37.6 −31.5 −32.4
Capital expenditure −0.3 −0.7 −0.9 −3.7 −1.3 −0.8 −1.4 −0.5
Free cash flow −18.7 −21.5 −31.5 −45.1 −46.4 −38.4 −33.0 −32.8
Growth
Buybacks 0.0 −0.0 −0.0 −0.0 −0.0 0.0 n/a n/a

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2018Cash4.1Shareholders’ equity−167.3Fiscal year 2019Cash14.8Shareholders’ equity−187.4Fiscal year 2020Cash231.6Total debt17.4Net cash (debt)214.2Shareholders’ equity226.1Debt to equity0.08Fiscal year 2021Cash148.5Total debt17.3Net cash (debt)131.2Shareholders’ equity193.2Debt to equity0.09Fiscal year 2022Cash101.7Total debt17.2Net cash (debt)84.5Shareholders’ equity154.0Debt to equity0.11Fiscal year 2023Cash83.5Total debt35.1Net cash (debt)48.5Shareholders’ equity118.3Debt to equity0.30Fiscal year 2024Cash70.9Total debt34.0Net cash (debt)36.9Shareholders’ equity85.8Debt to equity0.40Fiscal year 2025Cash69.8Total debt37.0Net cash (debt)32.8Shareholders’ equity54.1Debt to equity0.68
FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 4.1 14.8 231.6 148.5 101.7 83.5 70.9 69.8
Total debt n/a n/a 17.4 17.3 17.2 35.1 34.0 37.0
Net cash (debt) n/a n/a 214.2 131.2 84.5 48.5 36.9 32.8
Shareholders’ equity −167.3 −187.4 226.1 193.2 154.0 118.3 85.8 54.1
Debt to equity n/a n/a 0.08 0.09 0.11 0.30 0.40 0.68

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
61.4% 68.8% 64.8% 73.6% 74.3% 73.9% 74.0% 74.2%
−75.2% −54.7% −98.8% −97.7% −109.3% −90.2% −68.9% −59.3%
−92.3% −62.4% −97.8% −99.8% −109.1% −87.8% −66.7% −59.0%
−92.4% −63.5% −98.5% −100.5% −109.8% −88.6% −67.3% −59.7%
−93.5% −65.9% −96.4% −93.1% −86.5% −55.9% −39.4% −36.3%
Spending
34.9% 18.6% 22.8% 27.0% 28.7% 26.3% 21.0% 21.5%
101.7% 104.9% 140.8% 144.3% 154.9% 137.8% 121.9% 111.9%
1.6% 2.2% 2.8% 7.6% 2.5% 1.2% 1.7% 0.5%
Returns
n/a n/a −14.3% −25.2% −38.3% −51.4% −65.7% −99.8%
n/a −38.7% −12.2% −20.7% −30.4% −34.2% −34.6% −41.8%
Balance and payout
n/a n/a 0.08 0.09 0.11 0.30 0.40 0.68
n/a 66.4% 14.2% 17.8% 20.5% 33.4% 47.3% 58.1%