Pulmonx Reports Q1 Revenue of $20.59M, Exceeding Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 29 2026
0mins
Reports Q1 revenue $20.59M, consensus $20.43M. "During the first quarter we initiated our refreshed U.S. commercial strategies and continued to execute in our direct international markets. We are encouraged by early signs of progress from the actions we have taken to refocus our U.S. sales organization and advance our clinical programs," said Glen French, President and Chief Executive Officer of Pulmonx. "With a fully staffed global sales organization, we remain confident in our ability to drive sequential improvement in revenue growth, execute against our strategic priorities, and deliver meaningful operating leverage in 2026."
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Analyst Views on LUNG
Wall Street analysts forecast LUNG stock price to rise
5 Analyst Rating
3 Buy
2 Hold
0 Sell
Moderate Buy
Current: 1.540
Low
2.50
Averages
4.10
High
6.00
Current: 1.540
Low
2.50
Averages
4.10
High
6.00
About LUNG
Pulmonx Corporation is a commercial-stage medical technology company. The Company provides minimally invasive treatments for chronic obstructive pulmonary disease (COPD). The Company’s Zephyr Endobronchial Valve, Chartis Pulmonary Assessment System, LungTraX Platform, and StratX Lung Analysis Report are designed to assess and treat patients with severe emphysema/COPD. The LungTraX Platform is a cloud-based quantitative CT (QCT) analysis service that provides physicians with multiple products, LungTraX Connect, to improve workup efficiency, LungTraX Detect, to enable patient identification and an easy-to-read StratX Lung report that it designed for its solution that includes information on emphysema destruction, fissure completeness and lobar volume to help identify target lobes for treatment with Zephyr Valves. The Chartis System is a proprietary balloon catheter and console system with flow and pressure sensors designed to assess the presence of collateral ventilation.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Pulmonx Reports Q1 2026 Earnings with Strategic Outlook
- Revenue Performance: Pulmonx reported total worldwide revenue of $20.6 million in Q1 2026, slightly above the analyst estimate of $20.4314 million, while maintaining confidence in its full-year revenue guidance of $90 million to $92 million, anticipating a return to growth in the second half of the year.
- Sales Team Optimization: The company has filled all sales leadership positions and stabilized sales turnover over the past six months, focusing on narrowing sales priorities under its 'near-to-far' approach to enhance sales productivity and gradually drive recovery in the U.S. market.
- Clinical Trial Progress: The CONVERT II pivotal trial is progressing well, with enrollment completion expected in 2027, which is projected to expand the total addressable market by approximately 20% globally, laying the groundwork for future growth.
- Cost Control Measures: Pulmonx executed a broad cost reduction initiative in Q1, expecting to burn roughly $23 million in cash for the full year, aimed at delivering meaningful operating leverage and reducing cash burn rates.
See More
Surge in Options Trading Volume for Carvana and Pulmonx
- Carvana Options Volume: Carvana Co (CVNA) saw an options trading volume of 29,939 contracts today, representing approximately 3 million shares, or about 62.1% of its average daily trading volume of 4.8 million shares over the past month, indicating strong market interest in CVNA.
- High-Frequency Trading Insight: Notably, the $300 strike put option has seen 2,073 contracts traded today, representing around 207,300 shares of CVNA, suggesting an increased bearish sentiment among investors regarding future price declines.
- Pulmonx Options Activity: Concurrently, Pulmonx Corp (LUNG) recorded an options trading volume of 2,728 contracts, equivalent to approximately 272,800 shares, or about 60.5% of its average daily trading volume of 450,930 shares over the past month, indicating investor interest in this company as well.
- Market Trend Observation: The $1.50 strike put option for LUNG has seen a trading volume of 1,351 contracts today, representing approximately 135,100 shares, reflecting a cautious sentiment among investors regarding its future performance, potentially preparing for price volatility.
See More
Pulmonx Corporation Q4 2025 Earnings Call Insights
- Cost Structure Realignment: Pulmonx executed a cost restructuring initiative that reduced ongoing operating expenses by over 10%, significantly enhancing financial leverage and aiming for improved profitability.
- Sales Organization Restructuring: CEO Glendon French has taken direct oversight of the U.S. sales team and introduced new leadership to accelerate the AeriSeal clinical trial, aiming to optimize sales incentives and reduce turnover.
- 2026 Outlook: The company expects full-year 2026 revenue in the range of $90 million to $92 million, anticipating a return to year-over-year growth in both U.S. and international businesses in the latter half of the year, with a gross margin of approximately 75%.
- Financial Performance: Total worldwide revenue for Q4 2025 was $22.6 million, a 5% decrease year-over-year, but full-year revenue reached $90.5 million, an 8% increase, demonstrating the company's resilience in adversity.
See More
Pulmonx Reports Q4 2025 Earnings with Mixed Results
- Earnings Highlights: Pulmonx reported a Q4 2025 GAAP EPS of -$0.25, beating expectations by $0.14, indicating potential improvements in the company's profitability outlook.
- Revenue Performance: The fourth quarter revenue of $22.59 million represents a 5.1% year-over-year decline but exceeded market expectations by $0.86 million, reflecting the company's resilience in a competitive market.
- Annual Revenue Growth: Pulmonx achieved worldwide revenue of $90.5 million for 2025, an 8% increase over the prior year, with a 7% increase on a constant currency basis, demonstrating effective international expansion strategies.
- Debt Restructuring: The company successfully refinanced existing debt, securing up to $60 million in a new 5-year interest-only credit facility that extends debt maturity to 2031, enhancing financial flexibility.
See More
Lungpacer Launches AeroPace System, Enabling Rapid Weaning for ICU Patients
- Clinical Milestone: Lungpacer Medical successfully performed the first commercial procedures using the AeroPace® System at one of the largest healthcare providers in the U.S., marking a significant advancement in the clinical adoption of diaphragm neurostimulation for ICU patients, which is expected to greatly enhance respiratory recovery capabilities.
- Patient Recovery Case: The first patient treated with AeroPace transitioned from full mechanical ventilation to independent breathing after just 12 days of therapy, being discharged two days earlier than expected, demonstrating the system's effectiveness in accelerating patient recovery.
- FDA Approval and Payment Policy: The AeroPace System received FDA Breakthrough Device designation and premarket approval, along with CMS's New Technology Add-on Payment (NTAP) status starting October 1, 2025, which is anticipated to facilitate widespread adoption across hospitals and alleviate patient financial burdens.
- Commitment to Future Development: Lungpacer CEO Doug Evans emphasized the company's commitment to bringing the AeroPace system to leading medical centers in the U.S. to help more ICU patients breathe independently, addressing a significant challenge in the healthcare sector.
See More
Pulmonx Grants 1.625 Million Equity Awards to Attract Executives
- Executive Incentive Plan: On December 1, 2025, Pulmonx granted 1.625 million equity awards to attract new executives, including the CFO and COO, reflecting the company's commitment to strengthening its leadership team and enhancing management stability.
- Restricted Stock Units Allocation: Of the total, 1.225 million shares are restricted stock units (RSUs), with CFO Derrick Sung receiving 1.2 million shares, and these awards will vest over four years, aimed at increasing employee retention and incentivizing long-term contributions.
- Performance Stock Units Incentive: Mr. Sung also received performance stock units (PSUs) for up to 400,000 shares, with vesting contingent on both time and performance metrics, designed to align executive incentives with company performance and drive higher achievement levels.
- Compliance of Incentive Plan: The equity awards comply with Nasdaq listing rules, indicating Pulmonx's strategic focus on attracting and retaining talent, which is expected to enhance the company's appeal in the competitive healthcare sector.
See More
Pulmonx Reports Q1 2026 Earnings with Strategic Outlook
- Revenue Performance: Pulmonx reported total worldwide revenue of $20.6 million in Q1 2026, slightly above the analyst estimate of $20.4314 million, while maintaining confidence in its full-year revenue guidance of $90 million to $92 million, anticipating a return to growth in the second half of the year.
- Sales Team Optimization: The company has filled all sales leadership positions and stabilized sales turnover over the past six months, focusing on narrowing sales priorities under its 'near-to-far' approach to enhance sales productivity and gradually drive recovery in the U.S. market.
- Clinical Trial Progress: The CONVERT II pivotal trial is progressing well, with enrollment completion expected in 2027, which is projected to expand the total addressable market by approximately 20% globally, laying the groundwork for future growth.
- Cost Control Measures: Pulmonx executed a broad cost reduction initiative in Q1, expecting to burn roughly $23 million in cash for the full year, aimed at delivering meaningful operating leverage and reducing cash burn rates.
See More
Surge in Options Trading Volume for Carvana and Pulmonx
- Carvana Options Volume: Carvana Co (CVNA) saw an options trading volume of 29,939 contracts today, representing approximately 3 million shares, or about 62.1% of its average daily trading volume of 4.8 million shares over the past month, indicating strong market interest in CVNA.
- High-Frequency Trading Insight: Notably, the $300 strike put option has seen 2,073 contracts traded today, representing around 207,300 shares of CVNA, suggesting an increased bearish sentiment among investors regarding future price declines.
- Pulmonx Options Activity: Concurrently, Pulmonx Corp (LUNG) recorded an options trading volume of 2,728 contracts, equivalent to approximately 272,800 shares, or about 60.5% of its average daily trading volume of 450,930 shares over the past month, indicating investor interest in this company as well.
- Market Trend Observation: The $1.50 strike put option for LUNG has seen a trading volume of 1,351 contracts today, representing approximately 135,100 shares, reflecting a cautious sentiment among investors regarding its future performance, potentially preparing for price volatility.
See More
Pulmonx Corporation Q4 2025 Earnings Call Insights
- Cost Structure Realignment: Pulmonx executed a cost restructuring initiative that reduced ongoing operating expenses by over 10%, significantly enhancing financial leverage and aiming for improved profitability.
- Sales Organization Restructuring: CEO Glendon French has taken direct oversight of the U.S. sales team and introduced new leadership to accelerate the AeriSeal clinical trial, aiming to optimize sales incentives and reduce turnover.
- 2026 Outlook: The company expects full-year 2026 revenue in the range of $90 million to $92 million, anticipating a return to year-over-year growth in both U.S. and international businesses in the latter half of the year, with a gross margin of approximately 75%.
- Financial Performance: Total worldwide revenue for Q4 2025 was $22.6 million, a 5% decrease year-over-year, but full-year revenue reached $90.5 million, an 8% increase, demonstrating the company's resilience in adversity.
See More
Pulmonx Reports Q4 2025 Earnings with Mixed Results
- Earnings Highlights: Pulmonx reported a Q4 2025 GAAP EPS of -$0.25, beating expectations by $0.14, indicating potential improvements in the company's profitability outlook.
- Revenue Performance: The fourth quarter revenue of $22.59 million represents a 5.1% year-over-year decline but exceeded market expectations by $0.86 million, reflecting the company's resilience in a competitive market.
- Annual Revenue Growth: Pulmonx achieved worldwide revenue of $90.5 million for 2025, an 8% increase over the prior year, with a 7% increase on a constant currency basis, demonstrating effective international expansion strategies.
- Debt Restructuring: The company successfully refinanced existing debt, securing up to $60 million in a new 5-year interest-only credit facility that extends debt maturity to 2031, enhancing financial flexibility.
See More
Lungpacer Launches AeroPace System, Enabling Rapid Weaning for ICU Patients
- Clinical Milestone: Lungpacer Medical successfully performed the first commercial procedures using the AeroPace® System at one of the largest healthcare providers in the U.S., marking a significant advancement in the clinical adoption of diaphragm neurostimulation for ICU patients, which is expected to greatly enhance respiratory recovery capabilities.
- Patient Recovery Case: The first patient treated with AeroPace transitioned from full mechanical ventilation to independent breathing after just 12 days of therapy, being discharged two days earlier than expected, demonstrating the system's effectiveness in accelerating patient recovery.
- FDA Approval and Payment Policy: The AeroPace System received FDA Breakthrough Device designation and premarket approval, along with CMS's New Technology Add-on Payment (NTAP) status starting October 1, 2025, which is anticipated to facilitate widespread adoption across hospitals and alleviate patient financial burdens.
- Commitment to Future Development: Lungpacer CEO Doug Evans emphasized the company's commitment to bringing the AeroPace system to leading medical centers in the U.S. to help more ICU patients breathe independently, addressing a significant challenge in the healthcare sector.
See More
Pulmonx Grants 1.625 Million Equity Awards to Attract Executives
- Executive Incentive Plan: On December 1, 2025, Pulmonx granted 1.625 million equity awards to attract new executives, including the CFO and COO, reflecting the company's commitment to strengthening its leadership team and enhancing management stability.
- Restricted Stock Units Allocation: Of the total, 1.225 million shares are restricted stock units (RSUs), with CFO Derrick Sung receiving 1.2 million shares, and these awards will vest over four years, aimed at increasing employee retention and incentivizing long-term contributions.
- Performance Stock Units Incentive: Mr. Sung also received performance stock units (PSUs) for up to 400,000 shares, with vesting contingent on both time and performance metrics, designed to align executive incentives with company performance and drive higher achievement levels.
- Compliance of Incentive Plan: The equity awards comply with Nasdaq listing rules, indicating Pulmonx's strategic focus on attracting and retaining talent, which is expected to enhance the company's appeal in the competitive healthcare sector.
See More
