Pulmonx Corporation
pulmonx.comWhat Do They Do?
Sells Zephyr valves and related assessment tools for minimally invasive treatment of severe emphysema, primarily to hospitals and distributors.
10-K for FY2025, filed Mar 10, 2026We are a commercial-stage medical technology company that provides a minimally invasive treatment for patients with severe emphysema, a…View ↗
We market and sell our products in the United States through a direct sales organization. Our sales territory managers are focused on…View ↗
We generated revenue of $90.5 million, with a gross margin of 74.2% and a net loss of $54.0 million, for the year ended December 31, 2025…View ↗
How Do They Make Money?
Pulmonx sells products, mainly Zephyr valves and delivery catheters, to hospitals and distributors. Customers pay under contract terms for the products and services provided.
10-K for FY2025, filed Mar 10, 2026The Company’s revenue is generated primarily from the sale of its products to hospitals and distributors in the United States and…View ↗
A contract with a customer exists when (i) the Company enters into a legally enforceable contract with a customer that defines each party’s…View ↗
We generated revenue of $90.5 million, with a gross margin of 74.2% and a net loss of $54.0 million, for the year ended December 31, 2025…View ↗
$90.5M
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10-K for FY2025, filed Mar 10, 2026
$90.5M ↗
Who Are Their Customers?
In the United States, Pulmonx sells directly to hospitals through its sales organization; internationally, it sells directly and through distributors. Hospitals and distributors are its main buyers.
10-K for FY2025, filed Mar 10, 2026We market and sell our products in the United States through a direct sales organization. Our sales territory managers are focused on…View ↗
The Company’s revenue is generated primarily from the sale of its products to hospitals and distributors in the United States and…View ↗
We perform the final assembly, inspection, testing, packaging and product release testing for the Zephyr Valve, the EDC and Chartis System…View ↗
Do Revenues Turn Into Profits?
No. It lost $54M in FY2025.
10-K for FY2025, filed Mar 10, 2026
−$53.7MView ↗
10-K for FY2025, filed Mar 10, 2026
−$54MView ↗
10-K for FY2025, filed Mar 10, 2026
−$32.9MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 4, 2026
−$10.1MView ↗
- ▼ −34% (Loss)
- vs −$15.2M in Q2 FY2025
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Jul 29, 2026
Updated gross-margin and operating-expense outlook
Pulmonx now expects full-year 2026 gross margin of approximately 76% and operating expenses of $109 million to $111 million.
Sources
8-K, filed Jul 29, 2026
Pulmonx now expects total operating expenses for the full year 2026 to fall within the range of $109 million to $111 million, inclusive of…View ↗
Growing. Revenue grew 87% in 4 years, from $48.4M in FY2021 to $90.5M in FY2025, about 17% a year.
LungTraX generates revenue
The older report said the StratX platform did not independently generate revenue; the latest report says the LungTraX platform contributes revenue alongside Zephyr valves and delivery catheters.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Mar 10, 2026We also generate a smaller amount of our revenue from our Chartis System, which is comprised of sales of the balloon catheters, usage fees…View ↗
We generated revenue of $90.5 million, with a gross margin of 74.2% and a net loss of $54.0 million, for the year ended December 31, 2025…View ↗
Who Do They Compete With?
Competes with Olympus and Broncus Medical
10-K for FY2025, filed Mar 10, 2026We are positioning our solution as an alternative to existing treatments of severe emphysema. These treatments include medical management…View ↗
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