Pulmonx reports Q3 2026 results

On October 27, 2026, Pulmonx Corporation (the "Company") issued a press release announcing its financial results for the third fiscal quarter ended September 30, 2026.¹ A copy of the Company's press release dated October 27, 2026, titled "Pulmonx Reports Third Quarter 2026 Financial Results" is attached hereto as Exhibit 99.1² and is incorporated herein by reference.

The foregoing information (including the exhibit hereto) is being furnished under "Item 2.02 Results of Operations and Financial Condition" and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934³, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.

(d) Exhibits.

Exhibit No. Description

99.1 Press release dated October 27, 2026⁴

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)⁴

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Pulmonx Corporation

Dated: October 27, 2026

By: /s/ Derrick Sung⁴

Derrick Sung, Ph.D.

Chief Operating Officer and Chief Financial Officer⁴

Pulmonx Reports Third Quarter 2026 Financial Results

Redwood City, CA - October 27, 2026 – Pulmonx Corporation (Nasdaq: LUNG) ("Pulmonx" or the "Company"), a global leader in minimally invasive treatments for lung disease, today reported financial results for the third quarter of 2026 ended September 30, 2026.

Recent Highlights

• Realized gross margin of 76% in the third quarter of 2026

• Demonstrated continued operating leverage from cost realignment efforts, reducing net loss by 40% and Adjusted EBITDA loss by 57% in the third quarter of 2026 as compared to the same period last year

"We are very pleased to have returned to year-over-year revenue growth in the third quarter. We continue to execute on our commercial strategy, advance our clinical initiatives, and deliver the operating leverage we expected," said Glen French, President and Chief Executive Officer of Pulmonx. "With a fully staffed U.S. sales leadership team, a more focused global commercial team, and a realigned cost structure, we are confident in our ability to build on this momentum and deliver growth while advancing our longer-term strategic priorities."

Third Quarter 2026 Financial Results

Total worldwide revenue in the third quarter of 2026 was $22.8 million, a 6% increase from $21.5 million in the third quarter of 2025⁵ on both a GAAP and constant currency basis. U.S. revenue was $14.9 million, a 7% increase from the third quarter of 2025.^{6 6}International revenue was $7.9 million, a 5% increase compared to the third quarter of 2025⁶, and a 6% increase on a constant currency basis. International revenue growth was tempered by an absence of sales to the Company's distributor in China⁷ as we restart commercial activity in the region following the renewal of our Chinese registration certificate. Excluding China, international revenue grew 9% year-over-year on a GAAP and constant currency basis.

Gross profit in the third quarter of 2026 was $17.4 million, compared to $16.1 million for the third quarter of 2025.^{8 8}Gross margin for the third quarter of 2026 was 76%, compared to 75% for the same period in 2025.⁸

Operating expenses in the third quarter of 2026 were $24.9 million, compared to $30.4 million for the third quarter of 2025⁹, representing a decrease of 18%.

Net loss in the third quarter of 2026 was $8.4 million, or $0.19 per share, compared to a net loss of $14.0 million, or $0.34 per share¹⁰, for the same period in 2025.

Adjusted EBITDA loss in the third quarter of 2026 was $3.5 million, a reduction of 57% as compared to adjusted EBITDA loss of $8.2 million for the same period in 2025.

Cash and cash equivalents totaled $52.7 million as of September 30, 2026.¹¹

2026 Financial Outlook

Pulmonx continues to expect revenue for the full year 2026 to be in the range of $90 million to $92 million.¹²

The Company now expects gross margin for the full year 2026 to be approximately 77%.¹³

Pulmonx now expects total operating expenses for the full year 2026 to fall within the range of $108 million to $109 million¹³, inclusive of approximately $14 million of non-cash stock-based compensation.

The Company now expects cash, cash equivalents, and marketable securities to decrease by approximately $22 million for the full year 2026 assuming no additional drawdowns under the Company's credit facility.

Webcast and Conference Call Details

Pulmonx will host a conference call today, October 27, 2026, at 1:30 p.m. PT / 4:30 p.m. ET to discuss its third quarter financial results. A live webcast of the conference call will be available on the Investor Relations section of the Company's website at https://investors.pulmonx.com/ . The webcast will be archived on the website following the completion of the call.

Use of Non-GAAP Financial Measures

To supplement Pulmonx's condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, Pulmonx provides certain non-GAAP financial measures in this release as supplemental financial metrics. Non-GAAP financial measures reflect an additional way of viewing aspects of the Company's operations that, when viewed with GAAP results, may provide a more complete understanding of factors and trends affecting Pulmonx's business.

Constant currency calculations show reported current period revenues as if the foreign exchange rates remain the same as those in effect in the comparable prior year period. Pulmonx uses results on a constant currency basis as one measure to evaluate its performance. Pulmonx calculates constant currency by calculating current-year results using foreign currency exchange rates from the applicable comparable period in the prior year. Pulmonx generally refers to such amounts calculated on a constant currency basis as excluding the impact of foreign exchange or being