Pulmonx Corp Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Pulmonx Corp has filed its Q1 2024 10-Q report, detailing financial performance and operations for the period ending March 31, 2024.</b>

AI Summary

Pulmonx Corp (LUNG) filed a Quarterly Report (10-Q) with the SEC on May 3, 2024. Pulmonx Corp filed its quarterly report (10-Q) for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. The company's fiscal year ends on December 31st. Pulmonx Corp is incorporated in Delaware. The company's principal business address is 700 Chesapeake Drive, Redwood City, CA 94063.

Why It Matters

For investors and stakeholders tracking Pulmonx Corp, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Pulmonx Corp, crucial for assessing the company's current performance and future prospects. Understanding the details within this report is essential for stakeholders to make informed investment decisions regarding Pulmonx Corp's stock (LUNG).

Risk Assessment

Risk Level: low — Pulmonx Corp shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial or operational disclosures that would inherently increase risk.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Pulmonx Corp's Q1 2024 performance and outlook.

Key Numbers

• 2024-03-31 — Period End Date (Quarterly report period)
• 2024-05-03 — Filing Date (Date the report was filed)
• 1231 — Fiscal Year End (Annual fiscal year end date)

Key Players & Entities

• Pulmonx Corp (company) — Filer of the report
• LUNG (company) — Ticker symbol for Pulmonx Corp
• 2024-03-31 (date) — Period of report
• 2024-05-03 (date) — Filing date
• 700 Chesapeake Drive, Redwood City, CA 94063 (address) — Business and mailing address
• DE (jurisdiction) — State of incorporation

FAQ

Industry Context

Pulmonx Corp operates in the medical instruments and apparatus industry, focusing on devices for respiratory conditions.

Regulatory Implications

As a publicly traded company, Pulmonx Corp is subject to SEC regulations and reporting requirements, including the filing of quarterly (10-Q) and annual (10-K) reports.

What Investors Should Do

1. Analyze the financial statements (balance sheet, income statement, cash flow) for Q1 2024.
2. Read the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section for insights into performance drivers.
3. Review any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-03-31: Quarter End — End of the reporting period for the 10-Q
• 2024-05-03: Filing Date — Date the 10-Q was officially submitted to the SEC

Year-Over-Year Comparison

This filing represents the Q1 2024 update, following the company's previous filings for the fiscal year ending December 31, 2023.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value per share LUNG The Nasdaq Sto

Filing Documents

• lung-20240331.htm (10-Q) — 1419KB
• exhibit31_1x050324.htm (EX-31.1) — 10KB
• exhibit31_2x050324.htm (EX-31.2) — 10KB
• exhibit32_1x050324.htm (EX-32.1) — 6KB
• exhibit32_2x050324.htm (EX-32.2) — 6KB
• 0001127537-24-000052.txt (&nbsp;) — 7444KB
• lung-20240331.xsd (EX-101.SCH) — 50KB
• lung-20240331_cal.xml (EX-101.CAL) — 89KB
• lung-20240331_def.xml (EX-101.DEF) — 217KB
• lung-20240331_lab.xml (EX-101.LAB) — 680KB
• lung-20240331_pre.xml (EX-101.PRE) — 477KB
• lung-20240331_htm.xml (XML) — 953KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 1

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 1 Condensed Consolidated Balance Sheets 1 Condensed Consolidated Statements of Operations and Comprehensive Loss 3 Condensed Consolidated Statements of Stockholders' Equity 4 Condensed Consolidated Statements of Cash Flows 5 Notes to Unaudited Condensed Consolidated Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 25

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION 38

Legal Proceedings

Item 1. Legal Proceedings 38

Risk Factors

Item 1A. Risk Factors 39

Unregistered Sales of Securities and Use of Proceeds

Item 2. Unregistered Sales of Securities and Use of Proceeds 96

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 96

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 96

Other Information

Item 5. Other Information 97

Exhibits

Item 6. Exhibits 97

Signatures

Signatures 99 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this Quarterly Report on Form 10-Q, including statements regarding our future results of operations and financial condition, business strategy, plans, and objectives of management for future operations and statements that are necessarily dependent upon future events are forward-looking statements. In some cases, you can identify forward-looking statements by words such as "may," "might," "will," "objective," "intend," "should," "could," "can," "would," "expect," "believe," "anticipate," "project," "target," "design," "estimate," "predict," "potential," "plan" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. These forward-looking statements speak only as of the date of this Quarterly Report on Form 10-Q and are subject to a number of known and unknown risks, uncertainties, and assumptions, including risks described in the section entitled "Risk Factors." These risks are not exhaustive. Other sections of this Quarterly Report on Form 10-Q include additional factors that could harm our business and financial performance. Moreover, we operate in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for our management to predict all risk factors nor can we assess the impact of all factors on our bu

Financial Information

Part I. Financial Information

Financial Statements

Item 1. Financial Statements Pulmonx Corporation Condensed Consolidated Balance Sheets (in thousands, except share and per share amounts) (unaudited) March 31, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 70,158 $ 83,547 Restricted cash 236 237 Short-term marketable securities 45,973 33,555 Accounts receivable, net 10,522 12,105 Inventory 17,228 16,743 Prepaid expenses and other current assets 3,819 4,235 Total current assets 147,936 150,422 Long-term marketable securities 4,293 14,390 Long-term inventory 2,522 2,580 Property and equipment, net 4,218 4,028 Goodwill 2,333 2,333 Intangible assets, net — 31 Right of use assets 2,705 3,406 Other long-term assets 577 591 Total assets $ 164,584 $ 177,781 Liabilities and Stockholders' Equity Current liabilities Accounts payable $ 3,125 $ 1,497 Accrued liabilities 10,071 16,234 Income taxes payable 67 93 Deferred revenue 110 104 Short-term debt 5,231 2,155 Current lease liabilities 2,690 3,074 Total current liabilities 21,294 23,157 Deferred tax liability 140 114 Long-term lease liabilities 650 1,106 Long-term debt 32,002 35,089 Total liabilities 54,086 59,466 Commitments and contingencies (Note 8) 1 Table of Contents Stockholders' equity Preferred stock, $ 0.001 par value, 10,000,000 shares authorized; no shares issued and outstanding as of March 31, 2024 and December 31, 2023 — — Common stock, $ 0.001 par value, 200,000,000 shares authorized as of March 31, 2024 and December 31, 2023; 38,812,175 shares issued and outstanding as of March 31, 2024 and 38,516,383 shares issued and outstanding as of December 31, 2023 39 39 Additional paid-in capital 533,406 526,797 Accumulated other comprehensive income 1,963 2,640 Accumulated deficit ( 424,910 ) ( 411,161 ) Total stockholders' equity 110,498 118,315 Total liabilities and stockholders' equity $ 164,584 $ 177,781 The accompanying notes are an integral part of these unaudited interim condensed c

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View this 10-Q filing on SEC EDGAR