Pulmonx Corporation

LUNG Healthcare Medical Devices

Pulmonx Corporation’s revenue for fiscal 2025 (year ended December 2025) was $90.5 million, up 8.01% from fiscal 2024. In the quarter to June 2026, revenue fell 4.62%, EPS grew 36.8%, free cash flow fell 31.8% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years.

1.78 0.07 −3.78%
Market cap
$79.5M
P/E
0.0×
Fwd P/E
−1.3×
Dividend yield
—
F-score
3/9
Altman Z
−4.84
Beneish M
−3.38
Dividend safety
n/a

Insider Decisions trades per month

Total sells 0.55
Totals in millions of $.
Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — 4 — — 4 — — 4 — — 4 —
Insider Ownership 9.46%

Capital & Financial Ratios $m

Market Cap 79.46
Revenue 87.44
Net Income (48.12)
Free Cash Flow (30.67)
Net Debt (18.67)
Current Ratio 4.32 (at or above 1.5: strong)
Debt/Equity 0.95
P/E ratio 0.00
Fwd P/E (1.34) (negative: loss-making)
P/S ratio 0.86
P/B ratio 1.93
Past 5Y EPS Growth —
This Y EPS Growth 21.50% (at or above 15%: strong)
Next Y EPS Growth 9.78%
Next Y revenue growth 0.06%
Next 5Y EPS Growth 16.56% (at or above 15%: strong)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/S against its own 10 years 14.62%
10-year low 10-year high
P/B against its own 10 years 24.40%
10-year low 10-year high
EV/Sales against its own 10 years 16.73%
10-year low 10-year high

Dividends

Payout Ratio —
Annual Dividend Rate —
Annual Dividend Yield —
total individual payouts
2025 Powerpack
2024 Powerpack
2023 Powerpack
2022 Powerpack
2021 Powerpack
2019 Powerpack
2018 Powerpack
2017 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 117 102 70 56
Receivables 12 13 12 12
Inventory 17 17 16 16
Other — — — —
150 136 102 88
2023 2024 2025 Q'26
Payables 1 4 4 5
ST’ Debt 2 3 — —
Other — — — —
23 24 20 20

Compound Annual Growth %

10y 5y 3y
Sales — 22.55% 19.03%
Cash Flow — 0.00% 0.00%
Earnings — 0.00% 0.00%
Book Value — (24.87%) (29.43%)

Revenue $m

Mar Jun Sep Dec Year
’26 21 23 — — —
’25 23 24 22 23 90
’24 19 21 20 24 84
’23 15 17 18 19 69
’22 11 14 14 15 54
’21 9 12 13 14 48
’20 9 4 11 10 33
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (10) (5) — — —
’25 (13) (4) (8) (7) (32)
’24 (12) (6) (7) (7) (32)
’23 (13) (8) (9) (8) (38)
’22 (15) (10) (11) (10) (45)
’21 (10) (13) (8) (11) (41)
’20 (10) (8) (6) (7) (31)
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (10) (5) — — —
’25 (14) (4) (8) (7) (33)
’24 (12) (6) (8) (7) (33)
’23 (13) (8) (9) (9) (38)
’22 (16) (10) (11) (10) (46)
’21 (10) (13) (10) (12) (45)
’20 (10) (8) (6) (8) (32)
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.33) (0.24) — — —
’25 (0.36) (0.38) (0.34) (0.25) (1.33)
’24 (0.36) (0.39) (0.36) (0.33) (1.44)
’23 (0.42) (0.43) (0.39) (0.36) (1.60)
’22 (0.43) (0.40) (0.38) (0.38) (1.59)
’21 (0.34) (0.34) (0.28) (0.35) (1.35)
’20 (3.76) (6.16) (1.37) (0.27) (3.16)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

1.8
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — 37.64 28.87 4.07 7.23 5.46 1.31

Analyst estimates 2026–2028

Powerpack
High — — — — 69.48 68.76 36.26 14.28 14.84 9.37
People
People Employees — — — 202 170 160 269 279 291 296
Revenue/emp, $m — — 0.00 0.16 0.19 0.30 0.20 0.25 0.29 0.31
Income, $m
Income, $m Revenue — — 20 33 33 48 54 69 84 90
Gross margin, % — — 61.42 68.77 64.77 73.59 74.29 73.90 74.00 74.19
EBT — — (18) (20) (32) (48) (59) (60) (56) (53)
EBT margin, % — — (92.32) (62.40) (97.82) (99.80) (109.15) (87.76) (66.71) (58.98)
Net income — 0 (18) (21) (32) (49) (59) (61) (56) (54)
Depreciation — — 0 0 1 1 1 1 0 1
Per share, $
Per share, $ Revenue — — 11.94 18.35 3.21 1.34 1.45 1.81 2.14 2.22
Earnings — — (11.03) (11.66) (3.16) (1.35) (1.59) (1.60) (1.44) (1.33)
Cash flow — — (10.98) (11.69) (3.01) (1.15) (1.22) (0.99) (0.81) (0.80)
Capex — — (0.18) (0.41) (0.09) (0.10) (0.04) (0.02) (0.04) (0.01)
Free cash flow — — (11.16) (12.10) (3.10) (1.25) (1.25) (1.01) (0.84) (0.81)
Book value — — (15.99) 10.11 22.20 5.35 4.15 3.12 2.19 1.33
Shares, m — — 2 2 10 36 37 38 39 41
Valuation, ×
Valuation, × P/E — — 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
P/S — — 3.33 3.33 21.48 23.93 5.18 7.02 3.17 0.99
P/B — — 0.00 0.00 3.11 6.00 1.80 4.08 3.09 1.66
EV/Sales — — 3.58 3.58 14.98 20.61 2.87 5.86 2.40 0.63
EV/FCF — — (4.36) (4.36) (15.54) (22.15) (3.31) (10.47) (6.09) (1.74)
Cash, $m
Cash, $m Operating cash flow — — (18) (21) (31) (41) (45) (38) (32) (32)
Capex — — 0 (1) (1) (4) (1) (1) (1) 0
Free cash flow — — (19) (21) (32) (45) (46) (38) (33) (33)
Balance, $m
Balance, $m Working capital — — 3 27 237 190 150 127 112 82
Total debt — — 34 15 19 20 17 37 37 37
Net debt — — 29 (13) (213) (161) (124) (80) (65) (33)
Shareholders’ equity — — (27) 18 226 193 154 118 86 54
Returns, %
Returns, % ROA — — (246.17) (60.41) (20.32) (19.51) (27.48) (32.76) (33.11) (36.97)
ROIC — — (349.72) (221.87) (150.98) (90.74) (122.32) (101.28) (169.73) (158.98)
ROE — — 10.42 11.67 (166.33) (23.21) (33.94) (44.68) (55.25) (77.19)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Pulmonx Corporation vs peers in Medical Devices (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
APYX Apyx Medical Corporation $107.8M — (loss-making) — (loss-making) +22.08% (above 0%: growing) n/m −137.38% (below 0%: shrinking) 63.89% (13.01%) Compare
LUCD Lucid Diagnostics Inc. $105.7M — (loss-making) — (loss-making) +26.74% (above 0%: growing) n/m −7.04% (below 0%: shrinking) 1.97% (868.45%) Compare
ZOMDF Zomedica Corp. $95.4M — (loss-making) — (loss-making) +36.59% (above 0%: growing) n/m +40.48% (above 0%: growing) 63.51% (42.92%) Compare
HYPR Hyperfine, Inc. $82.7M — (loss-making) — (loss-making) +44.81% (above 0%: growing) n/m +13.43% (above 0%: growing) 50.72% (216.93%) Compare
SERA Sera Prognostics, Inc. $80.1M — (loss-making) — (loss-making) +76.47% (above 0%: growing) n/m −10.58% (below 0%: shrinking) (66.67%) (33,346.67%) Compare
LUNG Pulmonx Corporation $79.5M — (loss-making) — (loss-making) −4.62% (below 0%: shrinking) n/m −31.79% (below 0%: shrinking) 77.97% (39.80%)
OM Outset Medical, Inc. $76.6M — (loss-making) — (loss-making) +0.69% (above 0%: growing) n/m −90.54% (below 0%: shrinking) 41.99% (49.55%) Compare
ECOR electroCore, Inc. $75.3M — (loss-making) — (loss-making) +28.03% (above 0%: growing) n/m −443.52% (below 0%: shrinking) 86.53% (29.33%) Compare
LNSR LENSAR, Inc. $74.1M 2.0× 7.1× +18.37% (above 0%: growing) n/m +96.81% (above 0%: growing) 59.27% 12.94% Compare
Median of peers $81.4M — — +27.39% — −8.81% 54.99% (46.24%)

All 149 Medical Devices stocks →

Pulmonx Corporation (LUNG) key facts

  • Concern: Pulmonx Corporation reported a net loss of $54.0 million, or a loss of $1.33 per share, for fiscal 2025.
  • Strength: Pulmonx Corporation’s revenue for fiscal 2025 (year ended December 2025) was $90.5 million, up 8.01% from fiscal 2024.
  • Pulmonx Corporation (LUNG) is a Medical Devices company in the Healthcare sector, listed on Nasdaq.
  • As of October 16, 2026, LUNG traded at $1.78, a market capitalization of $79.5 million.
  • Trailing earnings are negative, so a P/E ratio is not meaningful; the stock trades at 0.9× sales.
  • Return on equity was −77.2% and debt-to-equity 0.95.
  • Its Piotroski F-score is 3 out of 9 and its Altman Z-score is −4.84 (distress zone) for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

Pulmonx Corporation (LUNG) Latest News

20 Feb

Impact 4 · transcript
stockrow.com/LUNG · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com