Revenue
$90.50M
Fiscal year ended 2025-12-31Operating income
-$53.66M
Fiscal year ended 2025-12-31Free cash flow
-$32.83M
Fiscal year ended 2025-12-31Pulmonx Corp (LUNG) reported revenue of $90.50M and net income of -$54.00M for the fiscal year ended 2025-12-31. This page shows 8 annual periods of income statement, balance sheet and cash flow figures normalized from Pulmonx Corp’s SEC filings, each linked to the filing it came from. It is classified by the SEC under Surgical & Medical Instruments & Apparatus.
Income
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $90.50M | $83.79M | $68.68M | $53.66M | $48.42M | $32.73M | $32.60M | $20.00M |
| Cost of revenue | $23.36M | $21.79M | $17.92M | $13.80M | $12.79M | $11.53M | $10.18M | $7.72M |
| Gross profit | $67.14M | $62.00M | $50.75M | $39.86M | $35.63M | $21.20M | $22.41M | $12.29M |
| Operating income | -$53.66M | -$57.70M | -$61.94M | -$58.64M | -$47.30M | -$32.33M | -$17.84M | -$15.05M |
| Net income | -$54.00M | -$56.39M | -$60.84M | -$58.92M | -$48.66M | -$32.23M | -$20.70M | -$18.48M |
| Research & development | $19.49M | $17.57M | $18.08M | $15.40M | $13.06M | $7.46M | $6.05M | $6.99M |
| Weighted-average diluted shares | shares 40.69M | shares 39.11M | shares 37.97M | shares 37.10M | shares 36.13M | shares 10.18M | Unavailable | Unavailable |
| Pretax income | -$53.38M | -$55.89M | -$60.27M | -$58.57M | -$48.32M | -$32.02M | -$20.34M | -$18.47M |
| Income tax expense | $626.00K | $500.00K | $571.00K | $353.00K | $343.00K | $213.00K | $363.00K | $12.00K |
| Diluted EPS | $-1.33 | $-1.44 | $-1.60 | $-1.59 | $-1.35 | $-3.16 | Unavailable | Unavailable |
| Selling, general & administrative | $101.31M | $102.14M | $94.61M | $83.10M | $69.87M | $46.07M | $34.20M | $20.35M |
| General & administrative | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Selling & marketing | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Balance
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $69.75M | $70.90M | $83.55M | $101.74M | $148.48M | $231.56M | $14.77M | $4.12M |
| Total assets | $129.29M | $162.85M | $177.78M | $193.68M | $235.17M | $263.71M | $53.53M | Unavailable |
| Current assets | $101.68M | $136.25M | $150.42M | $168.95M | $208.00M | $249.99M | $41.07M | Unavailable |
| Total liabilities | $75.18M | $77.04M | $59.47M | $39.67M | $41.93M | $37.57M | $35.57M | Unavailable |
| Current liabilities | $20.06M | $24.44M | $23.16M | $18.49M | $17.55M | $12.53M | $14.16M | Unavailable |
| Total equity incl. NCI | $54.12M | $85.81M | $118.32M | $154.01M | $193.24M | $226.13M | -$187.38M | -$167.33M |
| Temporary (mezzanine) equity | Unavailable | Unavailable | Unavailable | Unavailable | $0 | $0 | $205.34M | $140.54M |
| Inventory | $15.84M | $16.92M | $16.74M | $14.56M | $16.28M | $10.74M | $5.61M | Unavailable |
| Accounts receivable | $12.07M | $13.12M | $12.10M | $8.68M | $6.56M | $4.23M | $5.51M | Unavailable |
| Goodwill | $2.33M | $2.33M | $2.33M | $2.33M | $2.33M | $2.33M | $2.33M | Unavailable |
| Long-term debt | $36.99M | $34.00M | $35.09M | $17.23M | $17.32M | $17.37M | Unavailable | Unavailable |
| Accounts payable | $3.90M | $3.83M | $1.50M | $1.76M | $1.58M | $1.47M | $2.68M | Unavailable |
Cash flow
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$32.38M | -$31.54M | -$37.61M | -$45.08M | -$41.39M | -$30.63M | -$20.76M | -$18.39M |
| Capital expenditures | $452.00K | $1.45M | $807.00K | $1.32M | $3.67M | $911.00K | $720.00K | $316.00K |
| Investing cash flow | $30.48M | $17.48M | -$2.01M | -$4.22M | -$46.26M | $12.69M | -$14.23M | $200.00K |
| Financing cash flow | $833.00K | $1.36M | $21.40M | $2.42M | $4.46M | $234.83M | $45.62M | $12.11M |
| Net change in cash | -$1.15M | -$12.62M | -$18.18M | -$46.74M | -$83.08M | $217.02M | $10.64M | -$5.93M |
| Stock-based compensation | $21.23M | $22.96M | $22.10M | $16.44M | $10.53M | $3.20M | $364.00K | $366.00K |
| Common dividends paid | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Common share repurchases | Unavailable | Unavailable | $0 | $27.00K | $26.00K | $21.00K | $12.00K | $0 |
| Depreciation & amortization | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Derived
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 | 2018-12-31 |
|---|---|---|---|---|---|---|---|---|
| Free cash flow | -$32.83M | -$32.98M | -$38.42M | -$46.40M | -$45.06M | -$31.54M | -$21.48M | -$18.71M |
| Gross margin | 74.2% | 74.0% | 73.9% | 74.3% | 73.6% | 64.8% | 68.8% | 61.4% |
| Operating margin | -59.3% | -68.9% | -90.2% | -109.3% | -97.7% | -98.8% | -54.7% | -75.2% |
| FCF margin | -36.3% | -39.4% | -55.9% | -86.5% | -93.1% | -96.4% | -65.9% | -93.5% |
| SBC / revenue | 23.5% | 27.4% | 32.2% | 30.6% | 21.7% | 9.8% | 1.1% | 1.8% |
| Current ratio | 5.07x | 5.58x | 6.50x | 9.14x | 11.85x | 19.96x | 2.90x | Unavailable |
| Revenue YoY growth | 8.0% | 22.0% | 28.0% | 10.8% | 47.9% | 0.4% | 62.9% | Unavailable |
| Net margin | -59.7% | -67.3% | -88.6% | -109.8% | -100.5% | -98.5% | -63.5% | -92.4% |
| R&D / revenue | 21.5% | 21.0% | 26.3% | 28.7% | 27.0% | 22.8% | 18.6% | 34.9% |
| CapEx / revenue | 0.5% | 1.7% | 1.2% | 2.5% | 7.6% | 2.8% | 2.2% | 1.6% |
| Long-term debt / equity | 0.68x | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
| Effective tax rate | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable | Unavailable |
Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open LUNG in the interactive workspace to inspect any figure back to its filing.
Source filings
10-Q · Filed 2026-08-04View SEC filing
10-Q · Filed 2026-05-04View SEC filing
10-K · Filed 2026-03-10View SEC filing
10-Q · Filed 2025-11-12View SEC filing
10-Q · Filed 2025-08-01View SEC filing
10-Q · Filed 2025-05-02View SEC filing
Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.