Pulmonx Corporation ( (LUNG) ) has realeased its Q3 earnings. Here is a breakdown of the information Pulmonx Corporation presented to its investors.
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Pulmonx Corporation is a leading global company specializing in minimally invasive treatments for chronic obstructive pulmonary disease (COPD), offering solutions such as the Zephyr Endobronchial Valve and the LungTraX Platform.
In the third quarter of 2024, Pulmonx Corporation reported a notable financial performance, achieving a 15% increase in worldwide revenue compared to the previous year. The company’s U.S. revenue grew by 17%, and its gross margin remained consistent at 74%.
Pulmonx’s financial highlights include a total revenue of $20.4 million, with a strong U.S. market performance and international revenue growth of 12%. The company also expanded its reach by adding 15 new Zephyr Valve treatment centers in the U.S. Additionally, clinical studies showed positive long-term benefits of their Zephyr Valves for patients.
Despite a net loss of $14.1 million in Q3 2024, Pulmonx reduced its adjusted EBITDA loss from the previous year, reflecting improved operational efficiency. The company maintains a robust cash position of $107.8 million, indicating solid financial health.
Looking ahead, Pulmonx remains optimistic about its commercial growth prospects, driven by increasing demand for its Zephyr Valves and strategic efforts to expand its market reach and patient access. The company expects continued revenue growth for the full year 2024, with operating expenses and gross margins aligning with previous forecasts.
