Pulmonx Corp
LUNG· Nasdaq· Surgical & Medical Instruments & Apparatus
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -36.3%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +22.6%
We record prices for the companies we cover; LUNG is not one of them yet.
Company statistics
Profile · FY2025
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 40.7M
- Revenue
- $90.5M
- Free cash flow
- -$32.8M
- Owner earnings
- -$54.1M
Valuation · FY2025
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2025
- Gross
- 74.2%
- Operating
- -59.3%
- Net
- -59.7%
- Free cash flow
- -36.3%
- Owner earnings
- -59.7%
- Stock pay
- 23.5%
Returns
- ROIC, FY2025
- –
- ROIC, 5 yr avg
- –
- ROE, FY2025
- -99.8%
- ROE, 5 yr avg
- -56.1%
Growth (CAGR)
- Revenue, 3 yr
- 19.0%
- Revenue, 5 yr
- 22.6%
- Revenue, 7 yr
- 24.1%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 7 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 7 yr
- –
Financial health · FY2025
- Cash and investments
- $69.8M
- Total debt
- $37.1M
- Net cash
- $32.7M
- Debt/Equity
- 0.7x
- Debt/FCF
- –
Shareholder returns · FY2025
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 31.9%
Financials: ten years from the 10-Ks
Revenue
$90.5M
+24.1% a year over 7 years
FY2018FY2025
Margins
Gross74.2%Operating-59.3%Net-59.7%
FY2025
FY2018FY2025
Free cash flow and owner earnings
Free cash flow-$32.8MOwner earnings-$54.1M
FY2025
FY2018FY2025
Diluted shares
40.7M
+299.5% over 7 years, net dilution
FY2018FY2025
Net cash
$32.7M
$32.7M more cash than debt
FY2018FY2025
Every figure, year by year
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| The business | ||||||||
| Revenue | $20.0M | $32.6M | $32.7M | $48.4M | $53.7M | $68.7M | $83.8M | $90.5M |
| Revenue growth | – | 62.9% | 0.4% | 47.9% | 10.8% | 28.0% | 22.0% | 8.0% |
| 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 income | -$18.5M | -$20.7M | -$32.2M | -$48.7M | -$58.9M | -$60.8M | -$56.4M | -$54.0M |
| Net margin | -92.4% | -63.5% | -98.5% | -100.5% | -109.8% | -88.6% | -67.3% | -59.7% |
| Diluted EPS | – | – | $-3.16 | $-1.35 | $-1.59 | $-1.60 | $-1.44 | $-1.33 |
| Return on invested capital? | – | – | – | – | – | – | – | – |
| Cash | ||||||||
| Operating cash flow | -$18.4M | -$20.8M | -$30.6M | -$41.4M | -$45.1M | -$37.6M | -$31.5M | -$32.4M |
| Capital expenditure | $316.0K | $720.0K | $911.0K | $3.7M | $1.3M | $807.0K | $1.4M | $452.0K |
| Free cash flow | -$18.7M | -$21.5M | -$31.5M | -$45.1M | -$46.4M | -$38.4M | -$33.0M | -$32.8M |
| Stock-based compensation | $366.0K | $364.0K | $3.2M | $10.5M | $16.4M | $22.1M | $23.0M | $21.2M |
| Owner earnings? | -$19.1M | -$21.8M | -$34.7M | -$55.6M | -$62.8M | -$60.5M | -$55.9M | -$54.1M |
| Free cash flow per share | – | – | $-3.10 | $-1.25 | $-1.25 | $-1.01 | $-0.84 | $-0.81 |
| Capital allocation | ||||||||
| Dividends paid | – | – | – | – | – | – | – | – |
| Share repurchases | $0 | $12.0K | $21.0K | $26.0K | $27.0K | $0 | – | – |
| Diluted shares | – | – | 10.2M | 36.1M | 37.1M | 38.0M | 39.1M | 40.7M |
| Share count change? | – | – | – | 254.7% | 2.7% | 2.4% | 3.0% | 4.0% |
| Balance sheet | ||||||||
| Cash and equivalents | $4.1M | $14.8M | $231.6M | $148.5M | $101.7M | $83.5M | $70.9M | $69.8M |
| Short-term investments | – | $13.6M | $0 | $31.6M | $39.4M | – | – | – |
| Total debt | – | – | $17.4M | $17.4M | $17.3M | $37.2M | $37.2M | $37.1M |
| Net debt | – | – | -$214.2M | -$162.6M | -$123.8M | -$46.3M | -$33.7M | -$32.7M |
| Shareholders' equity | -$167.3M | -$187.4M | $226.1M | $193.2M | $154.0M | $118.3M | $85.8M | $54.1M |
Latest filings
| 2026-10-27 | 8-K | Earnings release |
| 2026-08-04 | 10-Q | Quarterly report |
| 2026-07-29 | 8-K | Earnings release |
| 2026-05-04 | 10-Q | Quarterly report |
| 2026-04-29 | 8-K | Earnings release |
| 2026-04-22 | DEF 14A | Proxy statement |
| 2026-03-10 | 10-K | Annual report |
| 2026-03-04 | 8-K | Earnings release |
| 2025-11-12 | 10-Q | Quarterly report |
| 2025-11-12 | 8-K | Earnings release |
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