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 | 265.71 Bn | 242.23 Bn | 5.13 Bn | 18.65% |
| 2 | Abbott Laboratories | 189.37 Bn | 163.23 Bn | 7.39 Bn | 10.44% |
| 3 | Danaher | 164.78 Bn | 144.43 Bn | 3.84 Bn | 19.00% |
| 4 | Intuitive Surgical | 157.85 Bn | 138.13 Bn | 2.08 Bn | 19.44% |
| 5 | Medtronic | 129.66 Bn | 94.91 Bn | 6.34 Bn | 18.08% |
| 6 | Stryker | 121.82 Bn | 108.01 Bn | 4.25 Bn | 15.86% |
| 7 | Boston Scientific | 63.42 Bn | 58.86 Bn | 3.43 Bn | 16.12% |
| 8 | Edwards Lifesciences | 59.49 Bn | 42.69 Bn | 1.35 Bn | 17.44% |
| 9 | Becton Dickinson | 58.38 Bn | 55.53 Bn | 2.32 Bn | 13.31% |
| 10 | Pulmonx | 116.67 Mn | -202.56 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();