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Jun 30, 2023
Pulmonx Q2 2023 Earnings Report
Achieved record worldwide revenue with increased screening and treatment of emphysema patients.
Key Takeaways
Pulmonx reported a 23% increase in worldwide revenue, reaching $17.2 million in Q2 2023. U.S. revenue grew by 28% to $11.0 million. The company is increasing its full-year revenue expectation to $64 million to $66 million.
Achieved record worldwide revenue of $17.2 million, a 23% increase year-over-year.
U.S. revenue reached a new high of $11.0 million, representing 28% year-over-year growth.
Gross margin was 74% in the second quarter of 2023.
Added 15 new U.S. treatment centers for Zephyr Valves.
Revenue by Geographic Location
Forward Guidance
Pulmonx is increasing its expectation for revenue in 2023 to now range from $64 million to $66 million, which represents approximately 19% to 23% growth over the Company's fiscal year 2022 revenue. The Company continues to expect gross margin for the full year 2023 to fall within the range of 73% to 74%. Pulmonx also continues to expect total operating expenses for the full year 2023 to fall within the range of $112 million to $114 million, inclusive of approximately $22 million of non-cash stock-based compensation.
Positive Outlook
- Revenue is expected to range from $64 million to $66 million.
- Revenue represents approximately 19% to 23% growth over the Company's fiscal year 2022 revenue.
- Gross margin for the full year 2023 is expected to fall within the range of 73% to 74%.
- Physician engagement
- Awareness of the benefits of the Zephyr Valve
Challenges Ahead
- Total operating expenses for the full year 2023 are expected to fall within the range of $112 million to $114 million.
- Includes approximately $22 million of non-cash stock-based compensation.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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