Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.0M | $32.6M | $32.7M | $48.4M | $53.7M | $68.7M | $83.8M | $90.5M |
| Revenue growth | — | 62.9% | 0.4% | 47.9% | 10.8% | 28.0% | 22.0% | 8.0% |
| Gross profit | $12.3M | $22.4M | $21.2M | $35.6M | $39.9M | $50.8M | $62.0M | $67.1M |
| Gross margin | 61.4% | 68.8% | 64.8% | 73.6% | 74.3% | 73.9% | 74.0% | 74.2% |
| Operating income | -$15.1M | -$17.8M | -$32.3M | -$47.3M | -$58.6M | -$61.9M | -$57.7M | -$53.7M |
| Operating margin | -75.2% | -54.7% | -98.8% | -97.7% | -109.3% | -90.2% | -68.9% | -59.3% |
| Net income | -$18.5M | -$20.7M | -$32.2M | -$48.7M | -$58.9M | -$60.8M | -$56.4M | -$54.0M |
| Net margin | -92.4% | -63.5% | -98.5% | -100.5% | -109.8% | -88.6% | -67.3% | -59.7% |
| EPS (diluted) | -$11.03 | -$11.66 | -$3.16 | -$1.35 | -$1.59 | -$1.60 | -$1.44 | -$1.33 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$18.4M | -$20.8M | -$30.6M | -$41.4M | -$45.1M | -$37.6M | -$31.5M | -$32.4M |
| Capital expenditures | $316K | $720K | $911K | $3.67M | $1.32M | $807K | $1.45M | $452K |
| Free cash flow | -$18.7M | -$21.5M | -$31.5M | -$45.1M | -$46.4M | -$38.4M | -$33.0M | -$32.8M |
| Share buybacks | $0.00 | $12.0K | $21.0K | $26.0K | $27.0K | $0.00 | — | — |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $4.12M | $14.8M | $232M | $148M | $102M | $83.5M | $70.9M | $69.8M |
| Total assets | — | $53.5M | $264M | $235M | $194M | $178M | $163M | $129M |
| Total liabilities | — | $35.6M | $37.6M | $41.9M | $39.7M | $59.5M | $77.0M | $75.2M |
| Long-term debt | — | — | $17.4M | $17.4M | $17.2M | $35.1M | $34.0M | $37.0M |
| Shareholders' equity | -$167M | -$187M | $226M | $193M | $154M | $118M | $85.8M | $54.1M |
| Retained earnings | — | -$211M | -$243M | -$291M | -$350M | -$411M | -$468M | -$522M |
| Shares (wtd avg diluted) | — | 2.10M | 10.2M | 36.1M | 37.1M | 38.0M | 39.1M | 40.7M |
Every figure is extracted from Pulmonx Corp’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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