REDWOOD CITY, Calif., Oct. 27, 2026 (GLOBE NEWSWIRE) — Pulmo x Co po atio (Nasdaq: LUNG) (“Pulmo x” o the “Compa y”), a global leade i mi imally i vasive t eatme ts fo lu g disease, today epo ted fi a cial esults fo the thi d qua te of 2026 e ded Septembe 30, 2026.
- Achieved wo ldwide eve ue of $22.8 millio i the thi d qua te of 2026, a 6% i c ease ove the same pe iod last yea o both a GAAP a d co sta t cu e cy basis
- Delive ed $14.9 millio i U.S. eve ue i the thi d qua te of 2026, ep ese ti g a 7% yea -ove -yea i c ease
- Delive ed $7.9 millio i i te atio al eve ue i the thi d qua te of 2026, ep ese ti g a 5% yea -ove -yea i c ease a d a i c ease of 6% o a co sta t cu e cy basis; excludi g Chi a, yea -ove -yea i te atio al eve ue i c eased 9% o both a GAAP a d co sta t cu e cy basis
- Realized g oss ma gi of 76% i the thi d qua te of 2026
- Demo st ated co ti ued ope ati g leve age f om cost ealig me t effo ts, educi g et loss by 40% a d Adjusted EBITDA loss by 57% i the thi d qua te of 2026 as compa ed to the same pe iod last yea
“We a e ve y pleased to have etu ed to yea -ove -yea eve ue g owth i the thi d qua te . We co ti ue to execute o ou comme cial st ategy, adva ce ou cli ical i itiatives, a d delive the ope ati g leve age we expected,” said Gle F e ch, P eside t a d Chief Executive Office of Pulmo x. “With a fully staffed U.S. sales leade ship team, a mo e focused global comme cial team, a d a ealig ed cost st uctu e, we a e co fide t i ou ability to build o this mome tum a d delive g owth while adva ci g ou lo ge -te m st ategic p io ities.”
G oss p ofit i the thi d qua te of 2026 was $17.4 millio , compa ed to $16.1 millio fo the thi d qua te of 2025. G oss ma gi fo the thi d qua te of 2026 was 76%, compa ed to 75% fo the same pe iod i 2025.
Ope ati g expe ses i the thi d qua te of 2026 we e $24.9 millio , compa ed to $30.4 millio fo the thi d qua te of 2025, ep ese ti g a dec ease of 18%.
Net loss i the thi d qua te of 2026 was $8.4 millio , o $0.19 pe sha e, compa ed to a et loss of $14.0 millio , o $0.34 pe sha e, fo the same pe iod i 2025.
Adjusted EBITDA loss i the thi d qua te of 2026 was $3.5 millio , a eductio of 57% as compa ed to adjusted EBITDA loss of $8.2 millio fo the same pe iod i 2025.
Cash a d cash equivale ts totaled $52.7 millio as of Septembe 30, 2026.
The Compa y ow expects g oss ma gi fo the full yea 2026 to be app oximately 77%.
Pulmo x ow expects total ope ati g expe ses fo the full yea 2026 to fall withi the a ge of $108 millio to $109 millio , i clusive of app oximately $14 millio of o -cash stock-based compe satio .
The Compa y ow expects cash, cash equivale ts, a d ma ketable secu ities to dec ease by app oximately $22 millio fo the full yea 2026 assumi g o additio al d awdow s u de the Compa y’s c edit facility.
Co sta t cu e cy calculatio s show epo ted cu e t pe iod eve ues as if the fo eig excha ge ates emai the same as those i effect i the compa able p io yea pe iod. Pulmo x uses esults o a co sta t cu e cy basis as o e measu e to evaluate its pe fo ma ce. Pulmo x calculates co sta t cu e cy by calculati g cu e t-yea esults usi g fo eig cu e cy excha ge ates f om the applicable compa able pe iod i the p io yea . Pulmo x ge e ally efe s to such amou ts calculated o a co sta t cu e cy basis as excludi g the impact of fo eig excha ge o bei g o a co sta t cu e cy basis. Pulmo x believes the p ese tatio of esults o a co sta t cu e cy basis i additio to epo ted esults helps imp ove i vesto s’ ability to u de sta d its ope ati g esults a d evaluate its pe fo ma ce i compa iso to p io pe iods. Pulmo x ge e ally uses co sta t cu e cy to facilitate ma ageme t’s fi a cial a d ope atio al decisio -maki g, i cludi g evaluatio of Pulmo x’s histo ical ope ati g esults.
The Compa y defi es Adjusted EBITDA as ea i gs befo e i te est i come o expe se, taxes, dep eciatio a d amo tizatio a d stock-based compe satio a d may also exclude ce tai o – ecu i g, i egula o o e-time items ot eflective of ou o goi g co e busi ess ope atio s, such as impai me t cha ges. Ma ageme t believes that, i o de to p ope ly u de sta d sho t-te m a d lo g-te m fi a cial t e ds, i vesto s may wish to co side the impact of these excluded items i additio to GAAP measu es. Fu the , ma ageme t uses Adjusted EBITDA fo st ategic a d a ual ope ati g pla i g. We believe these o -GAAP fi a cial measu es a e useful as a suppleme t i evaluati g ou o goi g ope atio al pe fo ma ce a d e ha ci g a ove all u de sta di g of ou past fi a cial pe fo ma ce.
Reco ciliatio of these o -GAAP fi a cial measu es to the most compa able GAAP measu es is set fo th i the tables below.
The o -GAAP fi a cial measu es used by Pulmo x should be co side ed suppleme tal to, a d ot a substitute fo , fi a cial i fo matio p epa ed i acco da ce with GAAP. Because o -GAAP fi a cial measu es exclude the effect of items that i c ease o dec ease the Compa y’s epo ted esults of ope atio s, ma ageme t st o gly e cou ages i vesto s to eview, whe they become available, the Compa y’s co solidated fi a cial stateme ts a d publicly filed epo ts i thei e ti ety. The Compa y’s defi itio of o -GAAP measu es may diffe f om simila ly titled measu es used by othe s.
Pulmo x®, Ae iSeal®, Cha tis®, Lu gT aX®, St atX®, a d Zephy ® a e egiste ed t adema ks of Pulmo x Co po atio .
| Reve ue | $ | 22,835 | $ | 21,502 | $ | 66,177 | $ | 67,899 | Cost of goods sold | 5,436 | 5,450 | 14,992 | 18,301 | G oss p ofit | 17,399 | 16,052 | 51,185 | 49,598 | Ope ati g expe ses | Resea ch a d developme t | 4,864 | 4,846 | 14,797 | 14,908 | Selli g, ge e al a d admi ist ative | 20,025 | 25,599 | 65,891 | 78,450 | Total ope ati g expe ses | 24,889 | 30,445 | 80,688 | 93,358 | Loss f om ope atio s | (7,490 | ) | (14,393 | ) | (29,503 | ) | (43,760 | ) | I te est i come | 345 | 611 | 1,024 | 2,198 | I te est expe se | (1,234 | ) | (805 | ) | (3,428 | ) | (2,385 | ) | Othe (expe se) i come, et | 136 | 758 | 212 | 809 | Net loss befo e tax | (8,243 | ) | (13,829 | ) | (31,695 | ) | (43,138 | ) | I come tax expe se | 151 | 128 | 433 | 440 | Net loss | $ | (8,394 | ) | $ | (13,957 | ) | $ | (32,128 | ) | $ | (43,578 | ) | Net loss pe sha e att ibutable to commo stockholde s, basic a d diluted | $ | (0.19 | ) | $ | (0.34 | ) | $ | (0.76 | ) | $ | (1.08 | ) | Weighted-ave age sha es used i computi g et loss pe sha e att ibutable to commo stockholde s, basic a d diluted | 43,176,913 | 40,936,896 | 42,519,134 | 40,444,001 |
| Cu e t assets | Cash a d cash equivale ts | $ | 52,690 | $ | 69,751 | Rest icted cash | 257 | 258 | Accou ts eceivable, et | 12,014 | 12,072 | I ve to y | 15,436 | 15,845 | P epaid expe ses a d othe cu e t assets | 3,664 | 3,758 | Total cu e t assets | 84,061 | 101,684 | Lo g-te m i ve to y | 3,793 | 3,604 | P ope ty a d equipme t, et | 1,761 | 2,220 | Goodwill | 2,333 | 2,333 | Right of use assets | 17,039 | 18,028 | Othe lo g-te m assets | 1,225 | 1,422 | Total assets | $ | 110,212 | $ | 129,291 | Cu e t liabilities | Accou ts payable | $ | 4,512 | $ | 3,905 | Acc ued liabilities | 14,555 | 14,556 | I come taxes payable | 171 | 263 | Defe ed eve ue | 12 | 18 | Sho t-te m debt | 100 | 106 | Cu e t lease liabilities | 1,389 | 1,210 | Total cu e t liabilities | 20,739 | 20,058 | Defe ed tax liability | 71 | 69 | Lo g-te m lease liabilities | 17,145 | 18,059 | Lo g-te m debt | 37,712 | 36,989 | Commo stock wa a t liability | 345 | — | Total liabilities | 76,012 | 75,175 | Stockholde s’ equity | Commo stock | 44 | 42 | Additio al paid-i capital | 586,127 | 573,272 | Accumulated othe comp ehe sive i come | 1,715 | 2,360 | Accumulated deficit | (553,686 | ) | (521,558 | ) | Total stockholde s’ equity | 34,200 | 54,116 | Total liabilities a d stockholde s’ equity | $ | 110,212 | $ | 129,291 |
| U ited States | $ | 14,911 | $ | 13,967 | 6.8 | % | — | % | 6.8 | % | I te atio al | 7,924 | 7,535 | 5.2 | % | (0.7 | )% | 5.9 | % | Total | $ | 22,835 | $ | 21,502 | 6.2 | % | (0.3 | )% | 6.5 | % | I te atio al | $ | 7,924 | $ | 7,535 | 5.2 | % | (0.7 | )% | 5.9 | % | less Chi a | — | (234 | ) | (100.0 | )% | — | % | (100.0 | )% | I te atio al excludi g Chi a | $ | 7,924 | $ | 7,301 | 8.5 | % | (0.8 | )% | 9.3 | % | U ited States | $ | 42,342 | $ | 42,919 | (1.3 | )% | — | % | (1.3 | )% | I te atio al | 23,835 | 24,980 | (4.6 | )% | 4.0 | % | (8.6 | )% | Total | $ | 66,177 | $ | 67,899 | (2.5 | )% | 1.5 | % | (4.0 | )% | I te atio al | $ | 23,835 | $ | 24,980 | (4.6 | )% | 4.0 | % | (8.6 | )% | less Chi a | — | (4,014 | ) | (100.0 | )% | — | % | (100.0 | )% | I te atio al excludi g Chi a | $ | 23,835 | $ | 20,966 | 13.7 | % | 4.8 | % | 8.9 | % |
| GAAP Net loss | $ | (8,394 | ) | $ | (13,957 | ) | $ | (32,128 | ) | $ | (43,578 | ) | Dep eciatio a d amo tizatio | 215 | 246 | 657 | 823 | Stock-based compe satio | 3,611 | 5,166 | 11,445 | 16,992 | I te est (i come)/expe se, et | 889 | 194 | 2,404 | 187 | P ovisio fo i come taxes | 151 | 128 | 433 | 440 | Adjusted EBITDA | $ | (3,528 | ) | $ | (8,223 | ) | $ | (17,189 | ) | $ | (25,136 | ) |
