Pulmonx Q3 Revenue Rises 6% to $22.8M; Narrows Net Loss to $8.4M, Reaffirms 2026 Outlook; LUNG Up 11%

Pulmonx Corp. (LUNG) reported third-quarter 2026 worldwide revenue of $22.8 million, up 6% from $21.5 million a year earlier, marking a return to year-over-year growth. The medical device maker narrowed its net loss to $8.4 million, or $0.19 per share, from $14.0 million, or $0.34 per share, in the prior-year quarter. Shares traded at $2.79, up 10.98%. U.S. revenue rose 7% to $14.9 million; international revenue grew 5% to $7.9 million, or 6% in constant currency, held back by the absence of sales to its China distributor as it restarts commercial activity there. Gross margin improved to 76% from 75%, while operating expenses fell 18% to $24.9 million. Adjusted EBITDA loss narrowed 57% to $3.5 million. Cash and equivalents totaled $52.7 million as of September 30, 2026. Pulmonx maintained its full-year 2026 revenue outlook of $90 million to $92 million and projects a gross margin of approximately 77%. It expects operating expenses of $108 million to $109 million and a roughly $22 million decrease in cash, equivalents and marketable securities for the year.