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Pulmonx Q1 2025 Earnings Report
Pulmonx reported its financial results for the first quarter ended March 31, 2025.
Key Takeaways
Pulmonx reported a strong start to 2025 with worldwide revenue of $22.5 million, a 20% increase year-over-year, driven by continued commercial execution and global adoption of Zephyr Valve procedures. Despite the revenue growth, the company reported a net loss of $14.4 million.
Worldwide revenue increased by 20% year-over-year to $22.5 million in Q1 2025.
International revenue grew by 39% year-over-year to $8.3 million.
Gross margin for the quarter was 73%.
Net loss for the quarter was $14.4 million, or $0.36 per share.
Revenue by Geographic Location
Forward Guidance
Pulmonx reaffirms its full year 2025 revenue guidance to be in the range of $96 million to $98 million, anticipating growth generally in line with prior expectations. The company expects gross margin for the full year 2025 to be approximately 74% and total operating expenses to fall within the range of $133 million to $135 million.
Positive Outlook
- Reaffirmed full year 2025 revenue guidance of $96 million to $98 million.
- Anticipates continued growth in line with prior expectations.
- Expected gross margin for full year 2025 of approximately 74%.
- Total operating expenses for full year 2025 expected to be within $133 million to $135 million.
- Includes approximately $22 million of non-cash stock-based compensation in operating expenses.
Challenges Ahead
- Guidance does not reflect potential impact from future tariffs.
- Guidance does not reflect potential impact from trade policy changes.
- Guidance does not reflect potential impact from effects on the global macroeconomic environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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