LUNG at a glance
Pulmonx Corp (LUNG, SEC CIK 1127537) filed its latest 10-K annual report on March 10, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on July 29, 2026 and Form 4 insider filings as recently as September 3, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Pulmonx Corp (LUNG) reported revenue of $90.5 million (up 8.0% from FY2024) and a net loss of $54.0 million. Diluted EPS was -$1.33.
- As of June 30, 2026, 19 institutional investment managers tracked by SignalX reported holding Pulmonx Corp (LUNG) shares worth $10.3 million in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Rose Geoffrey Beran on September 1, 2026 of 2,390 shares at $2.26 per share.
- In the last 90 days, LUNG insiders reported 0 open-market purchases ($0) and 14 open-market sales ($177K) on Form 4, a net sale of $177K.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $90.5M
- +8.0% vs prior year
- Insiders · 90 days
- 0 buys · 14 sells
- Net −$177K
- 13F holders
- 19 funds
- $10.3M · −5 vs prior quarter
- Latest 8-K
- Jul 29, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Business Overview
- Core business: Minimally invasive treatment for severe emphysema using Zephyr Valve, Chartis System and LungTraX Platform
- New emphasis: Global clinical trial CONVERT II for FDA approval of AeriSeal System, a synthetic polymer foam device with Breakthrough Device designation
- Strategic shift: Expanding direct U.S. sales and commercial operations while growing international presence via direct and distributor models
- Quantitative highlights: Revenue $90.5M (+8% YoY), gross margin 74.2%, 95% revenue from direct sales, $54.0M net loss improving from prior year
- Noteworthy fact: Five-year LIBERATE study durability results presented in 2024 showing long-term safety and efficacy for Zephyr Valve
Risk Factors
- FDA 510(k) clearance required for future products, uncertainty in obtaining approvals threatens product commercialization
- Revenue exposure in US, Europe, and Asia Pacific vulnerable to economic conditions and hospital contracting delays
- Single product reliance on Zephyr Valve limited to severe emphysema; constrained market indications risk sales concentration
- Competition from alternative emphysema treatments and possible novel therapies could disrupt market share and adoption
- Net losses $54M in 2025, accumulated deficit $521.6M, ongoing cash burn pressures capital needs and profitability prospects
Management Discussion & Analysis
- Revenue $90.5M in 2025, up 8.0% YoY from $83.8M in 2024; US sales $57.0M (+$0.6M), International $33.5M (+$6.2M)
- Gross margin 74.2% in 2025 vs 74.0% in 2024; cost of goods sold $23.4M up 7.2% mainly from volume increase
- Best segment: International sales growth +22.7% ($27.3M to $33.5M); Worst: US sales nearly flat +1.1% ($56.5M to $57.0M)
- Net loss improved to $54.0M from $56.4M; R&D expenses increased 10.9% to $19.5M; SG&A decreased 0.8% to $101.3M
- Cash $69.8M end 2025; $37.1M debt outstanding; post-period $40M term loan secured with access to $20M more tied to revenue milestones
- Management plans continued investment in sales, R&D, marketing; expects ongoing net losses and need for additional funding
- Key risks: sales force recruitment/retention, reimbursement coverage expansion, competitive pressures, manufacturing efficiency, seasonality
AI summary of the LUNG 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Revenue $22.8M, down 4.6% YoY from $23.9M, driven by lower Zephyr Valve volumes and no China sales
- Gross margin 78.0% vs 72.1% YoY, benefiting from geographic mix
- U.S. revenue $14.2M vs $14.7M; international revenue $8.6M vs $9.1M
- Net loss $10.1M vs $15.2M; operating loss $9.1M vs $14.8M
- Cash and equivalents $55.8M; $37.5M outstanding debt; China certificate renewed with shipments expected by early next year
Risk Factors
- No newly triggered risk identified; filing presents existing 10-K risk categories without an explicit “no material changes” statement
- Safety risk: LIBERATE pneumothorax incidence 18–34%, with four treatment-period deaths representing 3.1% of Zephyr Valve patients
- Regulatory risk: Medicare lacks a public coverage policy, leaving reimbursement decisions case-by-case
- Market risk: Zephyr Valve remains the company’s sole therapeutic product and is limited to severe emphysema indications
- Financial risk: Six-month net loss $23.7 million and accumulated deficit $545.3 million as of June 30, 2026
AI summary of the LUNG 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Pulmonx reported second-quarter fiscal 2026 results for the period ended June 30, 2026
- Press release dated July 29, 2026 contains the financial results and accompanying investor-relevant details
Item 5.07: Submission of Matters to a Vote of Security Holders
- All three Class III director nominees elected through 2029, preserving board continuity
- 77.29% shareholder participation, with 32,645,270 shares voting or represented
Item 2.02: Results of Operations and Financial Condition
- Pulmonx reported first-quarter 2026 financial results for the period ended March 31, 2026
- Detailed revenue, earnings, cash flow, and outlook information appears in Exhibit 99.1
AI summaries of LUNG 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for LUNG
Don't miss the next LUNG filing
- Alerts as it files. A push when LUNG files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut LUNG, by share count.
- Ask anything. An AI agent that reads every LUNG filing and answers with sources.
LUNG alerts on your phone. Follow it in the SignalX Android app.
Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Rose Geoffrey Beran | Sell | Sep 1, 2026 | 2,390 | $2.26 |
| Rose Geoffrey Beran | Sell | Sep 1, 2026 | 1,530 | $2.26 |
| French Glendon E. III | Sell | Sep 1, 2026 | 37,784 | $2.26 |
| Rose Geoffrey Beran | Sell | Sep 1, 2026 | 2,213 | $2.26 |
| Radhakrishnan Srikanth | Sell | Sep 1, 2026 | 5,863 | $2.26 |
| Radhakrishnan Srikanth | Sell | Sep 1, 2026 | 3,618 | $2.26 |
| Radhakrishnan Srikanth | Sell | Sep 1, 2026 | 2,121 | $2.26 |
| French Glendon E. III | Sell | Sep 1, 2026 | 4,098 | $2.26 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | $68.7M | $83.8M | $90.5M |
| Gross Profit | - | $62.0M | $67.1M |
| Operating Income | - | -$57.7M | -$53.7M |
| Net Income | - | -$56.4M | -$54.0M |
| Gross Margin | - | 74.0% | 74.2% |
| Op. Margin | - | -68.9% | -59.3% |
| Net Margin | - | -67.3% | -59.7% |
| Balance Sheet | |||
| Total Assets | - | $162.8M | $129.3M |
| Equity | $118.3M | $85.8M | $54.1M |
| ROE | - | -65.7% | -99.8% |
| Per Share | |||
| EPS | - | $-1.44 | $-1.33 |
| Cash Flow | |||
| Operating CF | - | -$31.5M | -$32.4M |
| CapEx | - | $1.4M | $452K |
Source: XBRL data in Pulmonx Corp (LUNG)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate LUNG share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 19 | $10.3M |
| Q1 2026 | 24 | $17.1M |
| Q4 2025 | 23 | $30.1M |
| Q3 2025 | 22 | $25.9M |
| Q2 2025 | 25 | $46.4M |
| Q1 2025 | 21 | $103.7M |
| Q4 2024 | 17 | $77.9M |
| Q3 2024 | 14 | $24.8M |
- AQR Capital Management+387.4K (+108%)
- Renaissance Technologies LLC+104.8K (+33%)
- Citadel Advisors LLC+86.4K (+152%)
- Two Sigma Investments+18.0K (+26%)
- BlackRock−1.78M (-67%)
- Morgan Stanley−1.07M (-27%)
- State Street Corp−617.6K (-76%)
- JPMorgan Chase & Co−385.9K (-99%)
- Northern Trust−250.6K (-71%)
- Millennium Management+209.6K
- Bank of America Corp−1.17M
- Vanguard Portfolio Management LLC−604.5K
- BNY Mellon−92.7K
- T. Rowe Price Group−19.9K
- Invesco Ltd−10.3K
Source: 13F-HR filings on SEC EDGAR (aggregated from 165 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
LUNG filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 4 | Sep 3, 2026 | - | - | - |
| 10-Q | Aug 4, 2026 | Jun 30, 2026 | Analysis | |
| 8-K | Jul 29, 2026 | - | Analysis | - |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 4 | Jun 9, 2026 | - | - | |
| 8-K | Jun 4, 2026 | - | Analysis | |
| 4 | Jun 3, 2026 | - | - | |
| 4 | Jun 3, 2026 | - | - | |
| 4 | Jun 3, 2026 | - | - | |
| 4 | Jun 3, 2026 | - | - | |
| 10-Q | May 4, 2026 | Mar 31, 2026 | Analysis | |
| 8-K | Apr 29, 2026 | - | Analysis | - |
| 10-K | Mar 10, 2026 | Dec 31, 2025 | Analysis | |
| SC 13G | Mar 9, 2026 | - | - | |
| 8-K | Mar 5, 2026 | - | Analysis | - |
| 8-K | Mar 4, 2026 | - | Analysis | - |
| 4 | Mar 4, 2026 | - | - | - |
| 4 | Mar 4, 2026 | - | - | - |
Related Health Care companies
- ARAY · ACCURAY INCSurgical & Medical Instruments & Apparatus
- ATEC · Alphatec Holdings, Inc.Surgical & Medical Instruments & Apparatus
- ANGO · ANGIODYNAMICS INCSurgical & Medical Instruments & Apparatus
- ANIK · Anika Therapeutics, Inc.Surgical & Medical Instruments & Apparatus
- AORT · ARTIVION, INC.Surgical & Medical Instruments & Apparatus
- ATRC · AtriCure, Inc.Surgical & Medical Instruments & Apparatus
- RCEL · AVITA Medical, Inc.Surgical & Medical Instruments & Apparatus
- BAX · Baxter InternationalSurgical & Medical Instruments & Apparatus
LUNG SEC filings: frequently asked questions
Are LUNG insiders buying or selling?
In the last 90 days, Pulmonx Corp (LUNG) officers, directors and 10% owners reported no open-market purchases and 14 open-market sales worth $177,048 by 4 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold LUNG stock?
As of June 30, 2026, the largest Pulmonx Corp (LUNG) holders among the 13F filers tracked by SignalX were Morgan Stanley ($3.8 million), Vanguard Capital Management LLC ($2.1 million), BlackRock ($1.1 million), AQR Capital Management ($969,000), Renaissance Technologies LLC ($553,000). 13F-HR reports are filed up to 45 days after each quarter ends.
What was LUNG's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Pulmonx Corp (LUNG) reported revenue of $90.5 million (up 8.0% from FY2024) and a net loss of $54.0 million. Diluted EPS was -$1.33. The figures come from the XBRL data in the 10-K.
What are the main risks in LUNG's latest 10-K?
In the 10-K filed March 10, 2026, Pulmonx Corp (LUNG) flagged: FDA 510(k) clearance required for future products, uncertainty in obtaining approvals threatens product commercialization. Revenue exposure in US, Europe, and Asia Pacific vulnerable to economic conditions and hospital contracting delays. (AI summary of the Risk Factors section.)
What did LUNG report in its latest 8-K?
Pulmonx Corp (LUNG) filed an 8-K on July 29, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Pulmonx reported second-quarter fiscal 2026 results for the period ended June 30, 2026.
What are the latest LUNG SEC filings?
Pulmonx Corp (LUNG) filed its latest 10-K annual report on March 10, 2026, a 10-Q quarterly report on August 4, 2026, an 8-K current report on July 29, 2026 and a Form 4 insider filing on September 3, 2026.
What is LUNG's SEC CIK number?
Pulmonx Corp (LUNG)'s SEC Central Index Key (CIK) is 1127537. EDGAR lists every LUNG filing under that number.
Ask anything about LUNG
The research agent reads LUNG's filings, financials, insider trades and 13F holders, then answers with sources.