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Pulmatrix (PULM) earnings and revenue breakdown
Latest: Q4 2024 · 10-K filed Mar 21, 2025 · Pulmatrix (PULM) Q4 2024 earnings results →
Q4 2024 Revenue down 100% year over year to $3K
Pulmatrix made $3K in Q4 2024 (-100% Y/Y). Operating margin n/m, net loss $2.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-K filed Mar 21, 2025.
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What changed this quarter
Revenue was $3K in Q4 2024, down 100% year over year and down 99% from the previous quarter.
Operating costs exceeded revenue by $2.0M, an operating margin of -65066.7%. Total costs fell 56% while revenue fell 100%. The fastest-growing cost line was General & admin (+114%). The quarter ended with a net loss of $2.0M, narrower than the previous quarter's $2.6M loss.
Operating cash flow was −$1.3M. Non-cash charges added back $13K of share-based compensation. Working capital and other items added $712K.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q4 2024 | 10-K | Mar 21, 2025 | $3K | -100% | n/m | −$2.0M | −$1.3M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Pulmatrix
Pulmatrix is a biopharmaceutical company that has focused on the development of novel inhaled therapeutic products intended to prevent and treat migraine and respiratory diseases with important unmet medical needs using its patented iSPERSE™ technology. The Company’s proprietary product pipeline includes treatments for central nervous system (“CNS”) disorders such as acute migraine and serious lung diseases such as Chronic Obstructive Pulmonary Disease (“COPD”) and allergic bronchopulmonary aspergillosis (“ABPA”). Pulmatrix’s product candidates are based on its proprietary engineered dry powder delivery platform, iSPERSE™, which seeks to improve therapeutic delivery to the lungs by optimizing pharmacokinetics and reducing systemic side effects to improve patient outcomes. For more on the Company’s inhaled product candidates please visit:
In its own words, from its 8-K, filed Aug 13, 2026.
Pulmatrix against its Pharmaceutical Preparations peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -100% against the peers' median +7%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| PULM Pulmatrix | Q4 2024 | $3K | -100% | n/m |
| JNJ Johnson & Johnson | Q3 2026 | $25.4B | +6% | 0.1% |
| LLY ELI Lilly | Q3 2026 | $24.4B | +39% | 34.5% |
| MRK Merck | Q3 2026 | $18.1B | +5% | 30.7% |
| ABBV AbbVie | Q3 2026 | $17.4B | +10% | 36.0% |
| PFE Pfizer | Q3 2026 | $16.6B | -0.4% | 20.4% |
| BMY Bristol Myers Squibb | Q3 2026 | $13.1B | +7% | 19.4% |
| ABT Abbott Laboratories | Q3 2026 | $13.0B | +14% | 10.4% |
| REGN Regeneron Pharmaceuticals | Q3 2026 | $5.1B | +36% | 40.0% |
Source: Pulmatrix 10-K on SEC EDGAR · CIK 1574235 · Pharmaceutical Preparations
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History
Every quarter: Q4 2024 results