Pulmonx (LUNG) Operating Margin (2019 - 2025)
Pulmonx's Operating Margin was -66.94% in Q3 2025, up 2.37 percentage points from -69.30% a year earlier but down 4.89 percentage points from the prior quarter.
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Analysis
Pulmonx (LUNG) Operating Margin (2019 - 2025) Analysis & Trends
On a trailing twelve-month basis, Pulmonx's Operating Margin was -62.38% through Sep 30, 2025, up 11.02 percentage points year-over-year; for FY2024, it came in at -68.87%, up 21.32 percentage points from FY2023.
- Operating Margin shows a five-year change of -14.14 percentage points (FY2019 to FY2024).
- In earlier years, Operating Margin was -90.19% in FY2023 (+19.09 pp), -109.27% in FY2022 (-11.57 pp), -97.70% in FY2021 (+1.07 pp) and -98.77% in FY2020 (-44.05 pp).
- Quarterly Operating Margin has moved between -145.28% (Q1 2022) and -56.46% (Q4 2024) over five years.
- Compared with a year earlier, Operating Margin has increased for 11 straight quarters, with an average year-over-year change of +17.39 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q2 2021 (a gain of 209.88 percentage points); the worst was Q1 2021 (a drop of 64.33 percentage points).
- Per Business Quant data, LUNG's Operating Margin in the three quarters before Q3 2025 was -62.05% (Q2 2025), -64.62% (Q1 2025) and -56.46% (Q4 2024).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Thermo Fisher Scientific | 251.30 Bn | 230.45 Bn | 4.88 Bn | 17.40% |
| 2 | Abbott Laboratories | 174.70 Bn | 145.78 Bn | 7.27 Bn | 13.44% |
| 3 | Danaher | 158.94 Bn | 142.76 Bn | 3.61 Bn | 17.99% |
| 4 | Intuitive Surgical | 145.87 Bn | 125.42 Bn | 1.96 Bn | 33.60% |
| 5 | Medtronic | 111.49 Bn | 77.36 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 106.96 Bn | 93.08 Bn | 4.50 Bn | 25.18% |
| 7 | Boston Scientific | 63.62 Bn | 58.63 Bn | 3.85 Bn | 21.65% |
| 8 | Edwards Lifesciences | 50.80 Bn | 34.92 Bn | 1.35 Bn | 29.48% |
| 9 | Becton Dickinson | 49.59 Bn | 46.74 Bn | 2.32 Bn | 13.31% |
| 10 | Pulmonx | 82.51 Mn | -236.71 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -66.94% |
| Jun 30, 2025 | -62.05% |
| Mar 31, 2025 | -64.62% |
| Dec 31, 2024 | -56.46% |
| Sep 30, 2024 | -69.30% |
| Jun 30, 2024 | -75.17% |
| Mar 31, 2024 | -77.10% |
| Dec 31, 2023 | -72.20% |
| Sep 30, 2023 | -85.90% |
| Jun 30, 2023 | -95.61% |
| Mar 31, 2023 | -112.83% |
| Dec 31, 2022 | -94.83% |
| Sep 30, 2022 | -103.18% |
| Jun 30, 2022 | -103.30% |
| Mar 31, 2022 | -145.28% |
| Dec 31, 2021 | -90.21% |
| Sep 30, 2021 | -73.61% |
| Jun 30, 2021 | -103.93% |
| Mar 31, 2021 | -135.16% |
| Dec 31, 2020 | -95.16% |
API Access
Pulmonx Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=LUNG&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "LUNG", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=LUNG&period=max&api_key=YOUR_API_KEY");
const data = await res.json();