Pulmonx Corporation(NASDAQ:LUNG)

Pulmonx Corporation, a medical technology company, designs, develops, manufactures, and markets minimally invasive medical devices for the diagnosis and treatment of chronic obstructive pulmonary diseases. It offers Zephyr Endobronchial Valve, a solution for the treatment of bronchoscopic in adult p...
Website: http://www.pulmonx.com
Founded: 1995
Full Time Employees: 180
CEO: Glendon E. French
Sector: Other
Industry: Other
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At a glance:
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Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 20,586,000 | 22,598,000 | 21,502,000 | 23,859,000 | 22,538,000 | 23,765,000 | 20,387,000 | 20,783,000 | 17,668,000 | 17,194,000 | 14,535,000 | 15,425,000 | 13,502,000 | 13,950,000 | 10,785,000 | 13,708,000 | 13,261,000 | 12,203,000 | 9,244,000 | 9,830,000 | 10,612,000 |
yoy | -8.66% | -4.91% | 5.47% | 14.80% | 27.56% | 38.22% | 40.26% | 34.74% | 30.85% | 23.25% | 34.77% | 12.53% | 1.82% | 14.32% | 16.67% | 39.45% | 24.96% | ||||
qoq | -8.90% | 5.10% | -9.88% | 5.86% | -5.16% | 16.57% | -1.91% | 17.63% | 2.76% | 18.29% | -5.77% | 14.24% | -3.21% | 29.35% | -21.32% | 3.37% | 8.67% | 32.01% | -5.96% | -7.37% | |
cost of goods sold | 4,542,000 | 5,057,000 | 5,450,000 | 6,655,000 | 6,196,000 | 6,175,000 | 5,361,000 | 5,476,000 | 4,639,000 | 4,460,000 | 3,946,000 | 4,241,000 | 3,350,000 | 3,532,000 | 2,674,000 | 3,457,000 | 3,522,000 | 3,174,000 | 2,633,000 | 2,752,000 | 3,150,000 |
gross profit | 16,044,000 | 17,541,000 | 16,052,000 | 17,204,000 | 16,342,000 | 17,590,000 | 15,026,000 | 15,307,000 | 13,029,000 | 12,734,000 | 10,589,000 | 11,184,000 | 10,152,000 | 10,418,000 | 8,111,000 | 10,251,000 | 9,739,000 | 9,029,000 | 6,611,000 | 7,078,000 | 7,462,000 |
yoy | -1.82% | -0.28% | 6.83% | 12.39% | 25.43% | 38.13% | 41.90% | 36.87% | 28.34% | 22.23% | 30.55% | 9.10% | 4.24% | 15.38% | 22.69% | 44.83% | 30.51% | ||||
qoq | -8.53% | 9.28% | -6.70% | 5.27% | -7.09% | 17.06% | -1.84% | 17.48% | 2.32% | 20.26% | -5.32% | 10.17% | -2.55% | 28.44% | -20.88% | 5.26% | 7.86% | 36.58% | -6.60% | -5.15% | |
gross margin % | 77.94% | 77.62% | 74.65% | 72.11% | 72.51% | 74.02% | 73.70% | 73.65% | 73.74% | 74.06% | 72.85% | 72.51% | 75.19% | 74.68% | 75.21% | 74.78% | 73.44% | 73.99% | 71.52% | 72.00% | 70.32% |
operating expenses | |||||||||||||||||||||
research and development | 4,899,000 | 4,583,000 | 4,846,000 | 5,306,000 | 4,756,000 | 4,001,000 | 3,744,000 | 5,615,000 | 4,220,000 | 5,710,000 | 4,253,000 | 3,903,000 | 4,366,000 | 3,594,000 | 3,534,000 | 3,708,000 | 2,815,000 | 3,506,000 | 3,034,000 | 2,472,000 | 1,997,000 |
selling, general and administrative | 24,101,000 | 22,861,000 | 25,599,000 | 26,702,000 | 26,149,000 | 27,006,000 | 25,411,000 | 25,314,000 | 23,985,000 | 23,463,000 | 22,736,000 | 21,908,000 | 19,717,000 | 21,235,000 | 20,245,000 | 18,909,000 | 16,686,000 | 17,620,000 | 15,604,000 | 13,960,000 | 10,813,000 |
total operating expenses | 29,000,000 | 27,444,000 | 30,445,000 | 32,008,000 | 30,905,000 | 31,007,000 | 29,155,000 | 30,929,000 | 28,205,000 | 29,173,000 | 26,989,000 | 25,811,000 | 24,083,000 | 24,829,000 | 23,779,000 | 22,617,000 | 19,501,000 | 21,126,000 | 18,638,000 | 16,432,000 | 12,810,000 |
income from operations | -12,956,000 | -9,903,000 | -14,393,000 | -14,804,000 | -14,563,000 | -13,417,000 | -14,129,000 | -15,622,000 | -15,176,000 | -16,439,000 | -16,400,000 | -14,627,000 | -13,931,000 | -14,411,000 | -15,668,000 | -12,366,000 | -9,762,000 | -12,097,000 | -12,027,000 | -9,354,000 | -5,348,000 |
yoy | -11.03% | -26.19% | 1.87% | -5.24% | -4.04% | -18.38% | -13.85% | 6.80% | 8.94% | 14.07% | 4.67% | 18.28% | 42.71% | 19.13% | 30.27% | 32.20% | 82.54% | ||||
qoq | 30.83% | -31.20% | -2.78% | 1.65% | 8.54% | -5.04% | -9.56% | 2.94% | -7.68% | 0.24% | 12.12% | 5.00% | -3.33% | -8.02% | 26.70% | 26.67% | -19.30% | 0.58% | 28.58% | 74.91% | |
operating margin % | -62.94% | -43.82% | -66.94% | -62.05% | -64.62% | -56.46% | -69.30% | -75.17% | -85.90% | -95.61% | -112.83% | -94.83% | -103.18% | -103.30% | -145.28% | -90.21% | -73.61% | -99.13% | -130.11% | -95.16% | -50.40% |
interest income | 350,000 | 453,000 | 611,000 | 723,000 | 864,000 | 1,045,000 | 1,269,000 | 1,306,000 | 1,490,000 | 1,410,000 | 1,127,000 | 748,000 | 477,000 | 199,000 | 105,000 | 94,000 | 99,000 | 102,000 | 105,000 | 115,000 | 9,000 |
interest expense | -976,000 | -770,000 | -805,000 | -799,000 | -781,000 | -842,000 | -891,000 | -891,000 | -893,000 | -864,000 | -571,000 | -359,000 | -286,000 | -223,000 | -198,000 | -199,000 | -207,000 | -206,000 | -217,000 | -267,000 | -1,103,000 |
other income | 77,000 | -19,000 | 758,000 | -116,000 | 167,000 | 77,000 | -201,000 | -35,000 | -262,000 | -162,000 | 108,000 | 201,000 | -432,000 | -165,000 | -383,000 | -267,000 | -96,000 | 161,000 | 230,000 | 2,631,000 | |
net loss before tax | -13,505,000 | -10,239,000 | -13,829,000 | -14,996,000 | -14,313,000 | -13,137,000 | -13,952,000 | -15,242,000 | -14,841,000 | -16,055,000 | -15,736,000 | -14,037,000 | -14,172,000 | -14,600,000 | -15,761,000 | -12,854,000 | -10,137,000 | -12,297,000 | -11,978,000 | -9,276,000 | -3,811,000 |
income tax expense | 149,000 | 186,000 | 128,000 | 177,000 | 135,000 | 38,000 | 192,000 | 84,000 | 59,000 | 140,000 | 124,000 | 246,000 | 40,000 | 67,000 | 152,000 | 44,000 | 80,000 | 67,000 | 21,000 | 49,000 | |
net income | -13,654,000 | -10,425,000 | -13,957,000 | -15,173,000 | -14,448,000 | -13,175,000 | -14,144,000 | -15,326,000 | -14,900,000 | -16,195,000 | -15,860,000 | -14,283,000 | -14,172,000 | -14,640,000 | -15,828,000 | -13,006,000 | -10,181,000 | -12,377,000 | -12,045,000 | -9,297,000 | -3,860,000 |
yoy | -5.50% | -20.87% | -1.32% | -1.00% | -3.03% | -18.65% | -10.82% | 7.30% | 5.14% | 10.62% | 0.20% | 9.82% | 39.20% | 18.28% | 31.41% | 39.89% | 163.76% | ||||
qoq | 30.97% | -25.31% | -8.01% | 5.02% | 9.66% | -6.85% | -7.71% | 2.86% | -8.00% | 2.11% | 11.04% | 0.78% | -3.20% | -7.51% | 21.70% | 27.75% | -17.74% | 2.76% | 29.56% | 140.85% | |
net income margin % | -66.33% | -46.13% | -64.91% | -63.59% | -64.11% | -55.44% | -69.38% | -73.74% | -84.33% | -94.19% | -109.12% | -92.60% | -104.96% | -104.95% | -146.76% | -94.88% | -76.77% | -101.43% | -130.30% | -94.58% | -36.37% |
other comprehensive income | |||||||||||||||||||||
currency translation adjustment | -191,000 | 122,000 | -399,000 | 435,000 | 111,000 | -369,000 | 412,000 | 40,000 | -12,000 | 170,000 | 72,000 | 49,000 | 119,000 | 6,000 | -24,000 | 192,000 | 65,000 | 66,000 | -272,000 | 37,000 | 33,000 |
change in unrealized losses on marketable securities | -1,000 | -22,000 | -245,000 | 3,000 | -3,000 | ||||||||||||||||
total other comprehensive income | -191,000 | 122,000 | -398,000 | 434,000 | 89,000 | -421,000 | 561,000 | 10,000 | -12,000 | 136,000 | 245,000 | 178,000 | 40,000 | -86,000 | -269,000 | 168,000 | 65,000 | 69,000 | -275,000 | 37,000 | 33,000 |
comprehensive loss | -13,845,000 | -10,303,000 | -14,355,000 | -14,739,000 | -14,359,000 | -13,596,000 | -13,583,000 | -15,316,000 | -14,912,000 | -16,059,000 | -15,615,000 | -14,105,000 | -14,132,000 | -14,726,000 | -16,097,000 | -12,838,000 | -10,116,000 | -12,308,000 | -12,320,000 | -9,260,000 | -3,827,000 |
net income per share | -0.33 | -0.25 | -0.34 | -0.38 | -0.36 | -0.33 | -0.36 | -0.39 | -0.39 | -0.43 | -0.42 | -0.38 | -0.38 | -0.4 | -0.43 | -0.36 | -0.28 | -0.34 | -0.34 | 7.17 | -1.37 |
weighted-average shares used for eps calculation | 41,897,669 | 40,685,934 | 40,936,896 | 40,429,655 | 39,954,658 | 39,111,073 | 39,276,447 | 38,943,066 | 38,119,824 | 37,818,256 | 37,572,382 | 37,096,541 | 37,190,352 | 37,003,443 | 36,805,366 | 36,129,409 | 36,449,399 | 36,042,614 | 35,370,760 | 10,184,841 | 2,814,798 |
change in unrealized gains on marketable securities | -5,500 | 1,000 | -52,000 | 149,000 | -30,000 | ||||||||||||||||
change in unrealized gain on marketable securities | -34,000 | 173,000 | -92,000 | ||||||||||||||||||
change in unrealized loss on marketable securities | -104,000 | -79,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 | 2020-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | |||||||||||||||||||||
current assets | |||||||||||||||||||||
cash and cash equivalents | 61,572,000 | 69,751,000 | 76,549,000 | 75,466,000 | 74,555,000 | 70,905,000 | 63,312,000 | 63,464,000 | 94,945,000 | 101,581,000 | 110,407,000 | 101,736,000 | 112,402,000 | 121,947,000 | 129,168,000 | 148,480,000 | 188,075,000 | 198,703,000 | 209,283,000 | 231,561,000 | 39,806,000 |
restricted cash | 257,000 | 258,000 | 261,000 | 259,000 | 257,000 | 257,000 | 258,000 | 257,000 | 236,000 | 466,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 | 231,000 |
accounts receivable | 10,830,000 | 12,072,000 | 13,797,000 | 15,903,000 | 13,975,000 | 13,120,000 | 11,670,000 | 11,080,000 | 10,091,000 | 8,941,000 | 8,171,000 | 8,677,000 | 7,221,000 | 7,521,000 | 6,810,000 | 6,562,000 | 6,919,000 | 6,884,000 | 5,119,000 | 4,228,000 | 5,260,000 |
inventory | 16,310,000 | 15,845,000 | 16,248,000 | 16,175,000 | 16,809,000 | 16,915,000 | 16,959,000 | 16,980,000 | 16,131,000 | 15,636,000 | 15,588,000 | 14,564,000 | 15,568,000 | 19,212,000 | 18,304,000 | 16,285,000 | 14,985,000 | 13,401,000 | 11,916,000 | 10,741,000 | 9,288,000 |
prepaid expenses and other current assets | 3,777,000 | 3,758,000 | 4,380,000 | 3,458,000 | 4,196,000 | 4,474,000 | 4,263,000 | 3,297,000 | 4,424,000 | 4,233,000 | 4,472,000 | 4,343,000 | 3,192,000 | 3,731,000 | 5,298,000 | 4,883,000 | 5,660,000 | 3,091,000 | 3,011,000 | 3,228,000 | 1,037,000 |
total current assets | 92,746,000 | 101,684,000 | 111,235,000 | 120,020,000 | 123,939,000 | 136,248,000 | 140,929,000 | 146,159,000 | 147,364,000 | 164,428,000 | 181,298,000 | 168,953,000 | 183,111,000 | 192,781,000 | 200,725,000 | 208,002,000 | 227,644,000 | 233,084,000 | 239,344,000 | 249,989,000 | 55,622,000 |
long-term inventory | 3,819,000 | 3,604,000 | 2,474,000 | 1,892,000 | 1,376,000 | 1,681,000 | 2,266,000 | 2,300,000 | 3,445,000 | 4,434,000 | 4,774,000 | 5,283,000 | 4,559,000 | ||||||||
property and equipment | 2,060,000 | 2,220,000 | 2,443,000 | 2,660,000 | 2,826,000 | 2,907,000 | 2,983,000 | 2,830,000 | 4,065,000 | 4,218,000 | 4,490,000 | 4,694,000 | 4,922,000 | 4,932,000 | 4,918,000 | 4,814,000 | 4,703,000 | 2,773,000 | 1,799,000 | 1,474,000 | 1,164,000 |
goodwill | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 | 2,333,000 |
right of use assets | 17,654,000 | 18,028,000 | 18,279,000 | 18,643,000 | 18,682,000 | 18,545,000 | 18,236,000 | 18,490,000 | 4,061,000 | 4,706,000 | 5,152,000 | 5,806,000 | 6,406,000 | 6,987,000 | 7,518,000 | 8,075,000 | 8,474,000 | 7,827,000 | 8,404,000 | 8,976,000 | 9,489,000 |
other long-term assets | 1,354,000 | 1,422,000 | 1,517,000 | 1,639,000 | 1,580,000 | 1,136,000 | 654,000 | 515,000 | 415,000 | 448,000 | 465,000 | 529,000 | 687,000 | 796,000 | 729,000 | 731,000 | 558,000 | 560,000 | 522,000 | 536,000 | 525,000 |
total assets | 119,966,000 | 129,291,000 | 138,281,000 | 147,187,000 | 150,736,000 | 162,850,000 | 167,401,000 | 172,627,000 | 185,016,000 | 193,113,000 | 201,272,000 | 193,676,000 | 202,203,000 | 212,729,000 | 222,849,000 | 235,173,000 | 246,818,000 | 248,940,000 | 255,270,000 | 263,708,000 | 71,244,000 |
liabilities and stockholders’ equity | |||||||||||||||||||||
current liabilities | |||||||||||||||||||||
accounts payable | 3,474,000 | 3,905,000 | 6,420,000 | 6,557,000 | 4,280,000 | 3,827,000 | 4,576,000 | 3,181,000 | 3,189,000 | 2,377,000 | 2,890,000 | 1,758,000 | 2,648,000 | 2,599,000 | 2,803,000 | 1,582,000 | 4,434,000 | 2,156,000 | 1,826,000 | 1,472,000 | 2,297,000 |
accrued liabilities | 13,728,000 | 14,556,000 | 14,936,000 | 14,388,000 | 11,547,000 | 16,472,000 | 12,779,000 | 11,783,000 | 13,684,000 | 13,562,000 | 10,632,000 | 13,276,000 | 10,744,000 | 11,734,000 | 10,872,000 | 13,366,000 | 12,374,000 | 10,499,000 | 9,756,000 | 8,651,000 | 8,844,000 |
income taxes payable | 329,000 | 263,000 | 189,000 | 205,000 | 86,000 | 49,000 | 74,000 | 66,000 | 41,000 | 60,000 | 19,000 | 143,000 | 147,000 | 5,000 | 120,000 | 94,000 | 158,000 | ||||
deferred revenue | 32,000 | 18,000 | 92,000 | 78,000 | 128,000 | 135,000 | 109,000 | 107,000 | 85,000 | 95,000 | 107,000 | 120,000 | 106,000 | 131,000 | 132,000 | 163,000 | 157,000 | 85,000 | 75,000 | 71,000 | 92,000 |
short-term debt | 104,000 | 106,000 | 105,000 | 104,000 | 7,803,000 | 3,176,000 | 99,000 | 93,000 | 91,000 | 93,000 | 91,000 | 90,000 | 5,043,000 | 2,921,000 | 798,000 | ||||||
current lease liabilities | 1,239,000 | 1,210,000 | 1,136,000 | 1,115,000 | 1,101,000 | 778,000 | 663,000 | 1,071,000 | 3,436,000 | 3,353,000 | 3,299,000 | 3,229,000 | 3,145,000 | 3,061,000 | 2,967,000 | 2,201,000 | 1,946,000 | 1,692,000 | 1,774,000 | 2,238,000 | 1,927,000 |
total current liabilities | 18,906,000 | 20,058,000 | 22,878,000 | 22,447,000 | 24,945,000 | 24,437,000 | 18,300,000 | 16,301,000 | 20,485,000 | 19,521,000 | 17,079,000 | 18,492,000 | 21,686,000 | 20,446,000 | 17,715,000 | 17,550,000 | 22,217,000 | 16,326,000 | 14,023,000 | 12,526,000 | 15,174,000 |
deferred tax liability | 72,000 | 69,000 | 47,000 | 41,000 | 79,000 | 87,000 | 129,000 | 118,000 | 97,000 | 94,000 | 71,000 | 94,000 | 51,000 | 47,000 | 53,000 | 37,000 | 70,000 | 71,000 | 71,000 | 62,000 | 54,000 |
long-term lease liabilities | 17,741,000 | 18,059,000 | 18,298,000 | 18,598,000 | 18,652,000 | 18,515,000 | 17,910,000 | 17,914,000 | 1,537,000 | 2,399,000 | 3,015,000 | 3,849,000 | 4,644,000 | 5,415,000 | 6,128,000 | 6,844,000 | 7,440,000 | 7,141,000 | 7,700,000 | 7,618,000 | 8,250,000 |
long-term debt | 37,209,000 | 36,989,000 | 37,025,000 | 37,011,000 | 29,393,000 | 34,002,000 | 37,137,000 | 37,110,000 | 37,154,000 | 37,147,000 | 37,173,000 | 17,234,000 | 12,340,000 | 14,460,000 | 16,629,000 | ||||||
common stock warrant liability | 277,000 | ||||||||||||||||||||
total liabilities | 74,205,000 | 75,175,000 | 78,248,000 | 78,097,000 | 73,069,000 | 77,041,000 | 73,476,000 | 71,443,000 | 59,273,000 | 59,161,000 | 57,338,000 | 39,669,000 | 38,721,000 | 40,547,000 | 40,704,000 | 41,934,000 | 43,990,000 | 39,020,000 | 38,655,000 | 37,574,000 | 70,534,000 |
commitments and contingencies | |||||||||||||||||||||
stockholders’ equity | |||||||||||||||||||||
short-term marketable securities | 8,759,000 | 14,147,000 | 30,577,000 | 44,467,000 | 51,081,000 | 21,537,000 | 33,571,000 | 42,429,000 | 39,402,000 | 44,497,000 | 40,139,000 | 40,914,000 | 31,561,000 | 11,774,000 | 10,774,000 | 9,784,000 | |||||
preferred stock, 0.001 par value... | |||||||||||||||||||||
common stock, 0.001 par value... | 42,000 | 40,000 | 38,000 | 37,000 | 37,000 | ||||||||||||||||
additional paid-in capital | 573,272,000 | 551,211,000 | 502,712,000 | 487,888,000 | 482,885,000 | ||||||||||||||||
accumulated other comprehensive income | 2,360,000 | 2,113,000 | 1,575,000 | 1,443,000 | 1,712,000 | ||||||||||||||||
accumulated deficit | -521,558,000 | -467,555,000 | -350,318,000 | -307,223,000 | -291,395,000 | ||||||||||||||||
total stockholders’ equity | 54,116,000 | 85,809,000 | 154,007,000 | 182,145,000 | 193,239,000 | ||||||||||||||||
total liabilities and stockholders’ equity | 129,291,000 | 162,850,000 | 193,676,000 | 222,849,000 | 235,173,000 | ||||||||||||||||
long-term marketable securities | 23,271,000 | 12,454,000 | 2,637,000 | 5,924,000 | 4,684,000 | 6,379,000 | 10,941,000 | 2,798,000 | 2,024,000 | 2,498,000 | |||||||||||
intangible assets | 62,000 | 92,000 | 123,000 | 154,000 | 185,000 | 216,000 | 247,000 | 277,000 | 308,000 | 339,000 | 370,000 | 400,000 | 431,000 | ||||||||
other long-term liabilities | 179,000 | 179,000 | 179,000 | 179,000 | |||||||||||||||||
credit agreement, current | 91,000 | ||||||||||||||||||||
credit agreement | 455,000 | 544,000 | 532,000 | 564,000 | 539,000 | ||||||||||||||||
term loan | 16,869,000 | 13,547,000 | 14,938,000 | 16,329,000 | 16,804,000 | 16,763,000 | |||||||||||||||
liabilities, preferred stock and stockholders’ equity | |||||||||||||||||||||
term loan, current | 3,306,000 | 1,889,000 | 472,000 | ||||||||||||||||||
credit arrangement | 537,000 | ||||||||||||||||||||
deferred offering costs | 1,680,000 | ||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ equity | |||||||||||||||||||||
derivative liability | |||||||||||||||||||||
convertible preferred stock, 0.001 par value... | |||||||||||||||||||||
liabilities, convertible preferred stock and stockholders’ deficit | |||||||||||||||||||||
derivative liabilities | 1,856,000 | ||||||||||||||||||||
convertible notes | 29,754,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 | 2021-03-31 | 2020-12-31 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities | |||||||||||||||||||
net loss | -13,654,000 | -10,425,000 | -13,957,000 | -15,173,000 | -14,448,000 | -13,175,000 | -14,144,000 | -14,900,000 | -16,195,000 | -15,860,000 | -14,283,000 | -14,172,000 | -14,640,000 | -15,828,000 | -13,006,000 | -11,233,000 | -9,297,000 | ||
adjustments to reconcile net loss to net cash from operating activities | |||||||||||||||||||
stock-based compensation expense | 4,136,000 | 4,241,000 | 5,166,000 | 6,214,000 | 5,612,000 | 5,523,000 | 5,839,000 | 6,003,000 | 5,862,000 | 4,638,000 | 4,247,000 | 4,302,000 | 4,383,000 | 3,513,000 | 5,351,000 | 599,000 | 2,312,000 | 2,268,000 | 2,311,000 |
inventory write-down (recovery) | 144,000 | 167,000 | 72,000 | -50,000 | -46,000 | ||||||||||||||
depreciation and amortization expense | 220,000 | 231,000 | 246,000 | 299,000 | 278,000 | 294,000 | 376,000 | 415,000 | 409,000 | 437,000 | 386,000 | 383,000 | 376,000 | 368,000 | 374,000 | 206,000 | 146,000 | 141,000 | 128,000 |
loss on debt extinguishment | 107,000 | ||||||||||||||||||
amortization of debt discount and debt issuance costs | 46,000 | 15,000 | 14,000 | 13,000 | 11,000 | 11,000 | 11,000 | 13,000 | 12,000 | 10,000 | 10,000 | 14,000 | 14,000 | 18,000 | 17,000 | 25,000 | 25,000 | 39,000 | 67,000 |
pik interest incurred but not paid on term loan | 67,000 | ||||||||||||||||||
net accretion of discounts on marketable securities | 0 | -40,000 | -133,000 | -206,000 | -340,000 | -405,000 | |||||||||||||
non-cash lease expense | 415,000 | 368,000 | 465,000 | 255,000 | 360,000 | 333,000 | 300,000 | 673,000 | 670,000 | 654,000 | 639,000 | 633,000 | 612,000 | 614,000 | 594,000 | 617,000 | 577,000 | 572,000 | 512,000 |
net changes in operating assets and liabilities: | |||||||||||||||||||
accounts receivable | 1,204,000 | 1,606,000 | 1,410,000 | -1,220,000 | -721,000 | -1,741,000 | -359,000 | -1,158,000 | -715,000 | 531,000 | -1,284,000 | 167,000 | -796,000 | -277,000 | 387,000 | -87,000 | -1,718,000 | -1,014,000 | 1,121,000 |
inventory | -959,000 | -810,000 | -1,021,000 | 660,000 | 406,000 | -153,000 | 596,000 | -164,000 | 337,000 | -604,000 | 536,000 | -1,144,000 | -1,009,000 | -2,021,000 | -1,452,000 | -1,881,000 | -1,495,000 | -1,630,000 | -1,103,000 |
prepaid expenses and other current assets | -29,000 | 627,000 | -913,000 | 791,000 | 308,000 | -135,000 | -923,000 | -214,000 | 193,000 | -168,000 | -1,018,000 | 733,000 | 1,471,000 | -406,000 | 1,185,000 | -2,615,000 | -188,000 | 404,000 | -2,168,000 |
other assets | 61,000 | 95,000 | 122,000 | 10,000 | -369,000 | -497,000 | -115,000 | 13,000 | 22,000 | -5,000 | -11,000 | 17,000 | -189,000 | -3,000 | -37,000 | 8,000 | -6,000 | ||
accounts payable | -430,000 | -2,496,000 | 121,000 | 2,140,000 | 505,000 | -700,000 | 1,348,000 | 1,003,000 | -518,000 | 868,000 | -830,000 | 15,000 | -199,000 | 1,261,000 | -2,817,000 | 2,611,000 | -9,000 | 302,000 | 758,000 |
accrued liabilities | -1,165,000 | -443,000 | 528,000 | 2,527,000 | -4,891,000 | 3,976,000 | 732,000 | 422,000 | 2,979,000 | -2,478,000 | 2,385,000 | -940,000 | 1,017,000 | -2,313,000 | 1,509,000 | 1,417,000 | 599,000 | 1,275,000 | 709,000 |
income taxes payable | 51,000 | 109,000 | -7,000 | 68,000 | 24,000 | -18,000 | 2,000 | -106,000 | -21,000 | 40,000 | 134,000 | -108,000 | -148,000 | -2,000 | 108,000 | 0 | -117,000 | 30,000 | -70,000 |
lease liabilities | -329,000 | -281,000 | -381,000 | -256,000 | -37,000 | 78,000 | -456,000 | -807,000 | -785,000 | -765,000 | -750,000 | -740,000 | -700,000 | -7,000 | -668,000 | -712,000 | -641,000 | -496,000 | -322,000 |
deferred tax liability | 4,000 | -17,000 | 0 | 1,000 | 10,000 | 12,000 | |||||||||||||
deferred revenue | 14,000 | -73,000 | 13,000 | -53,000 | -8,000 | 29,000 | 0 | -10,000 | -13,000 | -13,000 | 11,000 | -23,000 | 1,000 | -30,000 | 4,000 | 74,000 | 8,000 | 8,000 | -25,000 |
net cash from operating activities | -10,097,000 | -7,084,000 | -8,162,000 | -3,908,000 | -13,222,000 | -6,730,000 | -7,242,000 | -8,626,000 | -7,891,000 | -12,644,000 | -9,806,000 | -10,687,000 | -9,564,000 | -15,026,000 | -10,711,000 | -8,315,000 | -12,690,000 | -9,672,000 | -7,262,000 |
capital expenditures | -9,000 | 0 | -89,000 | 17,000 | -292,000 | 0 | -416,000 | -492,000 | -54,000 | 408,000 | -176,000 | -279,000 | -299,000 | -108,000 | -1,148,000 | -1,163,000 | -661,000 | -242,000 | -693,000 |
free cash flows | -10,106,000 | -7,084,000 | -8,251,000 | -3,891,000 | -13,514,000 | -6,730,000 | -7,658,000 | -9,118,000 | -7,945,000 | -12,236,000 | -9,982,000 | -10,966,000 | -9,863,000 | -15,134,000 | -11,859,000 | -9,478,000 | -13,351,000 | -9,914,000 | -7,955,000 |
cash flows from investing activities | |||||||||||||||||||
purchases of investments | 0 | 0 | -1,730,000 | -3,921,000 | -1,494,000 | -5,583,000 | -15,771,000 | -12,509,000 | -13,115,000 | -10,301,000 | -14,927,000 | -12,651,000 | -9,308,000 | -30,976,000 | -6,294,000 | -3,025,000 | -12,289,000 | ||
maturities of investments | 0 | 8,800,000 | 7,250,000 | 20,535,000 | 15,672,000 | 12,750,000 | |||||||||||||
purchases of property and equipment and internal software development costs | -9,000 | -89,000 | -49,000 | -301,000 | -416,000 | ||||||||||||||
net cash from investing activities | -9,000 | -13,000 | 8,711,000 | 5,471,000 | 16,313,000 | 14,067,000 | 6,751,000 | 987,000 | -813,000 | 574,000 | -727,000 | 44,000 | 2,080,000 | -5,622,000 | -29,124,000 | -3,414,000 | -1,186,000 | -12,531,000 | -693,000 |
cash flows from financing activities | |||||||||||||||||||
repayment of debt | -37,000,000 | ||||||||||||||||||
proceeds from debt | 38,785,000 | ||||||||||||||||||
proceeds from exercise of common stock options | 40,000 | 106,000 | 5,000 | 28,000 | 110,000 | 110,000 | 28,000 | 63,000 | 139,000 | 44,000 | 190,000 | 72,000 | 175,000 | 207,000 | 150,000 | 340,000 | 1,312,000 | 69,000 | -17,000 |
proceeds from issuance of common stock under the employee stock purchase plan | 201,000 | 0 | 200,000 | 0 | 554,000 | 1,000 | 431,000 | 508,000 | 0 | 676,000 | 0 | 834,000 | 0 | 1,108,000 | 0 | 660,000 | |||
net cash from financing activities | 2,026,000 | 55,000 | 181,000 | -67,000 | 664,000 | 62,000 | 459,000 | 571,000 | 92,000 | 20,720,000 | 67,000 | 906,000 | 131,000 | 1,315,000 | 150,000 | 1,000,000 | 3,293,000 | 13,000 | 199,765,000 |
effect of exchange rate changes on cash and cash equivalents | -100,000 | 355,000 | -583,000 | -105,000 | -119,000 | 202,000 | 21,000 | 21,000 | -200,000 | 192,000 | 132,000 | 21,000 | 90,000 | 101,000 | 3,000 | -88,000 | -55,000 | ||
net increase in cash, cash equivalents, and restricted cash | -8,180,000 | 1,085,000 | 913,000 | 3,650,000 | |||||||||||||||
cash, cash equivalents, and restricted cash at beginning of the period | 70,009,000 | 0 | 0 | 71,162,000 | 0 | ||||||||||||||
cash, cash equivalents, and restricted cash at end of the period | 61,829,000 | 1,085,000 | 913,000 | 74,812,000 | -151,000 | ||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets: | |||||||||||||||||||
cash and cash equivalents | 61,572,000 | -6,798,000 | 1,083,000 | 911,000 | 74,555,000 | 7,593,000 | -152,000 | -6,636,000 | -8,826,000 | 110,407,000 | -10,666,000 | -9,545,000 | -7,221,000 | 129,168,000 | -39,595,000 | -10,628,000 | -10,580,000 | 209,283,000 | 191,755,000 |
restricted cash | 257,000 | -3,000 | 2,000 | 2,000 | 257,000 | -1,000 | 1,000 | -230,000 | 235,000 | 231,000 | 0 | 0 | 0 | 231,000 | 0 | 0 | 0 | 231,000 | 0 |
cash, cash equivalents, and restricted cash in consolidated balance sheets | 61,829,000 | -6,801,000 | 1,085,000 | 913,000 | 74,812,000 | 7,592,000 | -151,000 | ||||||||||||
impairment of capitalized software development costs | 0 | 0 | |||||||||||||||||
change in allowance for credit losses | 0 | 0 | |||||||||||||||||
purchases of property and equipment | -492,000 | -54,000 | -61,000 | -176,000 | -279,000 | -299,000 | -564,000 | -1,148,000 | -1,620,000 | -661,000 | -242,000 | -693,000 | |||||||
repayment of credit agreement | -51,000 | -1,000 | -49,000 | 0 | 0 | -43,000 | 0 | ||||||||||||
debt issuance cost | 0 | -23,000 | -11,000 | -30,000 | 0 | ||||||||||||||
effect of exchange rate changes on cash, cash equivalents, and restricted cash | |||||||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | 7,592,000 | ||||||||||||||||||
cash, cash equivalents, and restricted cash at beginning of year | |||||||||||||||||||
cash, cash equivalents, and restricted cash at end of year | |||||||||||||||||||
supplemental non-cash items: | |||||||||||||||||||
purchases of property and equipment in accounts payable and accrued liabilities | 66,000 | 9,000 | 469,000 | ||||||||||||||||
supplemental disclosure of cash flow information: | |||||||||||||||||||
cash paid for income taxes | 92,000 | 39,000 | 57,000 | 110,000 | |||||||||||||||
cash paid for interest | 356,000 | 120,000 | 242,000 | 179,000 | |||||||||||||||
amount receivable from exercise of common stock options | 2,000 | 24,000 | |||||||||||||||||
gain on disposal of fixed assets | |||||||||||||||||||
inventory write-downs | -165,000 | -44,000 | 532,000 | 107,000 | 273,000 | 170,000 | 204,000 | 65,000 | 46,000 | 214,000 | 307,000 | 212,000 | 453,000 | 92,000 | |||||
proceeds from borrowing under term loan | 0 | 0 | 20,000,000 | ||||||||||||||||
lapse in repurchase rights of common stock | 47,000 | 56,000 | 59,000 | ||||||||||||||||
loss on disposal of fixed assets | -20,000 | 0 | 1,000 | 6,000 | |||||||||||||||
allowance for doubtful accounts | -59,000 | -11,000 | 64,000 | 5,000 | 0 | 0 | -1,000 | 0 | |||||||||||
amortization of premiums and discounts on investments | |||||||||||||||||||
amortization of premiums and discounts on marketable securities | -234,000 | -203,000 | |||||||||||||||||
maturities of short-term marketable securities | 11,750,000 | 13,750,000 | 15,250,000 | 15,030,000 | 4,250,000 | 4,500,000 | |||||||||||||
net increase in cash and cash equivalents | -8,591,000 | 8,671,000 | -39,595,000 | -10,628,000 | -10,580,000 | -22,278,000 | 191,755,000 | ||||||||||||
cash, cash equivalents and restricted cash, at beginning of the period | 0 | 101,967,000 | 0 | 0 | 148,711,000 | 0 | 0 | 231,792,000 | |||||||||||
cash, cash equivalents and restricted cash, at end of the period | -8,591,000 | 110,638,000 | -9,545,000 | -7,221,000 | 129,399,000 | -10,628,000 | -10,580,000 | 209,514,000 | |||||||||||
reconciliation of cash, cash equivalents and restricted cash to consolidated balance sheets: | |||||||||||||||||||
cash, cash equivalents and restricted cash in consolidated balance sheets | -8,591,000 | 110,638,000 | -10,666,000 | -9,545,000 | -7,221,000 | 129,399,000 | -39,595,000 | -10,628,000 | -10,580,000 | 209,514,000 | 191,755,000 | ||||||||
write-off of fixed assets | |||||||||||||||||||
payments for the repurchase of early exercised common stock options | -26,000 | 0 | |||||||||||||||||
net decrease in cash and cash equivalents | -10,666,000 | -9,545,000 | -7,221,000 | -19,312,000 | |||||||||||||||
cash and cash equivalents at beginning of year | |||||||||||||||||||
cash, cash equivalents and restricted cash at end of year | |||||||||||||||||||
operating lease right of use assets obtained in exchange for new lease liabilities | 195,000 | 53,000 | |||||||||||||||||
amount receivable from exercise of options | |||||||||||||||||||
amortization of premiums and discounts on short-term marketable securities | -75,000 | -2,000 | 21,000 | 22,000 | 21,000 | 12,000 | 4,000 | 0 | |||||||||||
payments for repurchase of early exercised common stock options | 0 | ||||||||||||||||||
payment of debt issuance cost | |||||||||||||||||||
purchases of property and equipment in accounts payable | 456,000 | 457,000 | |||||||||||||||||
change in fair value of derivative liability | |||||||||||||||||||
write-off of deferred offering costs | 0 | ||||||||||||||||||
proceeds from borrowing under term loans, net of payment of lender fees and costs | 527,000 | ||||||||||||||||||
repayment of term loans | 0 | ||||||||||||||||||
payment of success fee | |||||||||||||||||||
proceeds from the issuance of convertible note, net of payment of lender fees and costs | 0 | ||||||||||||||||||
proceeds from paycheck protection program loan | 0 | ||||||||||||||||||
repayment of paycheck protection program loan | 0 | ||||||||||||||||||
payments of deferred offering costs | 265,000 | ||||||||||||||||||
proceeds from exercise of warrants for series c-1 convertible preferred stock | 0 | ||||||||||||||||||
proceeds from initial public offering, net of offering costs | |||||||||||||||||||
lapse (increase) in repurchase rights of common stock | 62,000 | ||||||||||||||||||
issuance of derivative instrument related to convertible notes | 0 | ||||||||||||||||||
employee stock purchase plan expense | |||||||||||||||||||
change in fair value of derivative liabilities | |||||||||||||||||||
proceeds from credit agreement | |||||||||||||||||||
payments of debt issuance cost | |||||||||||||||||||
accrued interest for convertible note | |||||||||||||||||||
net income | -12,045,000 | ||||||||||||||||||
adjustments to reconcile net income to net cash from operating activities | |||||||||||||||||||
change in fair value of convertible preferred stock warrant liability | |||||||||||||||||||
gain on extinguishment of convertible note | |||||||||||||||||||
deferred rent | |||||||||||||||||||
proceeds from sale of property and equipment | |||||||||||||||||||
proceeds from issuance of series g-1 convertible preferred stock, net of issuance costs of 329 | |||||||||||||||||||
conversion of convertible note into series g-1 convertible preferred stock | |||||||||||||||||||
deferred offering costs in accrued liabilities and accounts payable | |||||||||||||||||||
deposit for operating lease in accounts payable | |||||||||||||||||||
operating lease right of use asset recorded on the adoption of asc 842 | |||||||||||||||||||
increases in repurchase rights of common stock |
