Filing Flows › Pulmonx (LUNG) › Q2 2025
Pulmonx (LUNG) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 1, 2025
Pulmonx (LUNG) reported revenue of $23.9M for the second quarter 2025 (Q2 2025), +15% from a year earlier and +6% from the quarter before. Operating margin was -62.0%, net loss $15.2M (63.6% of revenue).
Pulmonx, Q2 2025: revenue $23.9M (+15% year over year), operating margin -62.0%, net loss $15.2M, operating cash flow −$3.9M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.9M | +6% | +15% |
| Operating profit | −$14.8M | — | — |
| Net earnings | −$15.2M | — | — |
| Operating cash flow | −$3.9M | — | — |
What changed
Revenue was $23.9M in Q2 2025, up 15% year over year and up 6% from the previous quarter.
Gross margin was 72.1%, down 1.5 points from a year earlier. Operating costs exceeded revenue by $14.8M, an operating margin of -62.0%. Operating expenses grew 3% against revenue growth of 15%. The quarter ended with a net loss of $15.2M, wider than the previous quarter's $14.4M loss.
Operating cash flow was −$3.9M. Non-cash charges added back $300K of depreciation and $6.2M of share-based compensation. Working capital and other items added $4.8M. Capital expenditures of $49K exceeded it, leaving free cash flow of −$4.0M.
Questions
What was Pulmonx's revenue in the second quarter 2025?
Pulmonx (LUNG) reported revenue of $23.9M for the second quarter 2025 (Q2 2025), +15% from a year earlier and +6% from the quarter before.
Was Pulmonx profitable in the second quarter 2025?
Operating loss was $14.8M (-62.0% of revenue) and net loss $15.2M.
Source: Pulmonx 10-Q on SEC EDGAR.