Pulmonx (NASDAQ:LUNG) Announces Quarterly Earnings Results

Pulmonx (NASDAQ:LUNG) released its quarterly earnings data on Wednesday. The company reported ($0.33) earnings per share for the quarter, hitting the consensus estimate of ($0.33), FiscalAI reports. Pulmonx had a negative net margin of 60.09% and a negative return on equity of 87.11%. The firm had revenue of $20.59 million for the quarter, compared to the consensus estimate of $20.43 million.

Here are the key takeaways from Pulmonx’s conference call:

• Total worldwide revenue was $20.6 million in Q1 2026, down 9% year-over-year (12% on a constant currency basis), with U.S. revenue down 7% and adjusted EBITDA loss of $8.5 million; management attributed much of the international decline to the absence of sales to its China distributor.
• Management reaffirmed full-year 2026 revenue guidance of $90 million–$92 million and expects sequential quarterly improvement, with a return to year-over-year growth in both U.S. and international businesses in the back half of the year.
• Pulmonx says it has filled U.S. sales leadership and most field roles, stabilized turnover, implemented a focused “near-to-far” commercial strategy, and added 15 new U.S. treating centers in Q1—actions it expects will drive improving U.S. sales productivity as hires ramp.
• The company executed cost reductions (reducing ongoing operating expenses by >10%), recorded lower operating spend, closed a $60 million credit facility (extending debt maturity to 2031), and expects 2026 cash burn of roughly $23 million versus $32 million in 2025, with $61.6 million in cash and marketable securities at quarter end.
• The CONVERT II pivotal trial for AeriSeal is progressing well after clinical leadership changes, with management “highly confident” enrollment will complete in 2027—AeriSeal could expand the company’s total addressable market by ~20% and be a medium?to?long?term revenue driver.

Pulmonx Stock Performance

NASDAQ LUNG traded up $0.06 during trading hours on Friday, reaching $1.34. 848,351 shares of the company were exchanged, compared to its average volume of 476,597. Pulmonx has a 1 year low of $1.13 and a 1 year high of $3.89. The business’s 50 day simple moving average is $1.44 and its 200-day simple moving average is $1.71. The company has a quick ratio of 4.28, a current ratio of 5.07 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $56.39 million, a P/E ratio of -1.03 and a beta of 0.19.

Insider Transactions at Pulmonx

In related news, CEO Glendon E. French III sold 67,813 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $1.43, for a total transaction of $96,972.59. Following the completion of the sale, the chief executive officer owned 1,409,511 shares in the company, valued at approximately $2,015,600.73. This trade represents a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold a total of 98,265 shares of company stock worth $140,519 in the last three months. Company insiders own 6.80% of the company’s stock.

Institutional Trading of Pulmonx

A number of large investors have recently added to or reduced their stakes in LUNG. ExodusPoint Capital Management LP purchased a new stake in Pulmonx during the fourth quarter worth about $4,312,000. Vestal Point Capital LP purchased a new position in shares of Pulmonx during the 3rd quarter valued at $1,345,000. Bank of America Corp DE lifted its position in shares of Pulmonx by 556.6% during the 2nd quarter. Bank of America Corp DE now owns 481,268 shares of the company’s stock valued at $1,246,000 after buying an additional 407,971 shares during the last quarter. Birchview Capital LP purchased a new position in shares of Pulmonx during the 4th quarter valued at $554,000. Finally, Kotler Kevin purchased a new position in shares of Pulmonx during the 4th quarter valued at $442,000. Hedge funds and other institutional investors own 91.04% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. D. Boral Capital restated a “buy” rating and set a $14.00 price objective on shares of Pulmonx in a report on Thursday. Weiss Ratings restated a “sell (e+)” rating on shares of Pulmonx in a report on Thursday, January 22nd. Finally, Canaccord Genuity Group lowered their target price on shares of Pulmonx from $6.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.38.

Pulmonx Company Profile

Pulmonx Corporation is a commercial-stage medical device company focused on bronchoscopic lung volume reduction for patients suffering from severe emphysema. The company’s flagship therapy, the Zephyr® Endobronchial Valve System, employs one-way valves delivered via a minimally invasive bronchoscopic procedure to collapse diseased portions of the lung, reducing hyperinflation and improving respiratory function. Complementing this treatment, Pulmonx offers the Chartis® Pulmonary Assessment System, which provides clinicians with quantitative measurements of collateral ventilation to aid in patient selection and optimize clinical outcomes.

The Zephyr Valve received the CE mark in Europe in 2008 and FDA approval in the United States in 2018, and it has since been adopted by leading respiratory and thoracic centers across North America and Europe.