Filing Flows › Pulmonx (LUNG) › Q1 2026
Pulmonx (LUNG) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
Pulmonx (LUNG) reported revenue of $20.6M for the first quarter 2026 (Q1 2026), -9% from a year earlier and -9% from the quarter before. Operating margin was -62.9%, net loss $13.7M (66.3% of revenue).
Pulmonx, Q1 2026: revenue $20.6M (-9% year over year), operating margin -62.9%, net loss $13.7M, operating cash flow −$10.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $20.6M | -9% | -9% |
| Operating profit | −$13.0M | — | — |
| Net earnings | −$13.7M | — | — |
| Operating cash flow | −$10.1M | — | — |
What changed
Revenue was $20.6M in Q1 2026, down 9% year over year and down 9% from the previous quarter.
Gross margin was 77.9%, up 5.4 points from Q1 2025. Operating costs exceeded revenue by $13.0M, an operating margin of -62.9%. Operating expenses fell 6% while revenue fell 9%. The quarter ended with a net loss of $13.7M, wider than the previous quarter's $10.4M loss.
Operating cash flow was −$10.1M. Non-cash charges added back $200K of depreciation and $4.1M of share-based compensation. Working capital and other items used $779K. Capital expenditures of $9K exceeded it, leaving free cash flow of −$10.1M.
Questions
What was Pulmonx's revenue in the first quarter 2026?
Pulmonx (LUNG) reported revenue of $20.6M for the first quarter 2026 (Q1 2026), -9% from a year earlier and -9% from the quarter before.
Was Pulmonx profitable in the first quarter 2026?
Operating loss was $13.0M (-62.9% of revenue) and net loss $13.7M.
Source: Pulmonx 10-Q on SEC EDGAR.