Pulmonx jumps 33.1% to $2.63 as quarterly revenue returns to growth
Key Facts
Pulmonx reported third-quarter 2026 results on October 27 for the three months ended September 30, posting global revenue of $22.8 million. The company said revenue increased 6% from the third quarter of 2025, when it was $21.5 million. Benzinga reported that the stock rose 33.1% to $2.63 during the regular session on Wednesday, October 28. The stock had closed at $1.98 on October 27, according to EL7 daily data. CEO Glen French said the company had "returned to year-over-year revenue growth in the third quarter," pointing to improved growth after revenue contracted in the previous quarter.
Third-quarter growth followed a 5% decline in global revenue in the second quarter, to $22.8 million from $23.9 million a year earlier. For the first nine months of 2026, revenue totaled $66.177 million, down 2.5% from $67.899 million in the corresponding period of 2025. The third quarter thus returned revenue to year-over-year growth, while the nine-month total remained below its year-earlier level. U.S. revenue was $14.9 million, up 7% year over year. International revenue was $7.9 million, up 5% as reported and 6% excluding the impact of foreign-exchange movements.
The company attributed slower international revenue growth to the absence of sales to its distributor in China as it resumes commercial activity following renewal of its Chinese registration certificate. The halted sales were one factor the company cited in explaining the gap between U.S. market growth and international business growth during the quarter. Meanwhile, Pulmonx added eight U.S. treatment centers during the period, according to Investing.com’s account of the earnings call. Management said most vacancies in U.S. sales roles had been filled, presenting this as part of efforts to rebuild commercial execution. The expansion in treatment centers coincided with revenue returning to year-over-year growth in the quarter, according to management’s remarks.
Expense and loss metrics improved from a year earlier, with operating expenses falling to $24.9 million from $30.4 million, a decline of 18%. Net loss was $8.4 million, or $0.19 per share, compared with $14.0 million and $0.34 per share in the third quarter of 2025. Adjusted EBITDA loss also narrowed to $3.5 million, down 57% from $8.2 million a year earlier. Investing.com reported that adjusted loss per share came in at $0.19, compared with analysts’ estimate of $0.26 per share. Revenue was $22.8 million, above the consensus estimate of $21.93 million, according to the same source.
Pulmonx kept its 2026 revenue outlook at a range of $90 million to $92 million and expects a gross margin of about 77%. It also expects annual operating expenses of between $108 million and $109 million. The company said it expects cash and cash equivalents and marketable securities to decline by about $22 million during the year, assuming no additional draws on its credit facility. Cash and cash equivalents totaled $52.7 million on September 30. The outlook pairs improved quarterly revenue and losses with continued spending expectations and a decline in liquidity over the rest of 2026.
French said the company continues to execute its commercial strategy, advance its clinical initiatives and deliver expected operating leverage. Management did not provide formal guidance for 2027 and said it would defer details until the next earnings call, while focusing on finishing 2026 strongly. On trading after the results announcement, Investing.com reported that the stock rose 12.73% after the close to $2.23 on October 27, following a 1.54% gain during the regular session and a close at $1.98. That after-hours move was for the October 27 session, while Benzinga reported a rise to $2.63 during the regular session the following day. Stifel, according to Investing.com, raised its price target on the stock to $4 from $2.50 while maintaining its Buy rating.