Pulmonx (LUNG) Research & Development (2019 - 2025)
Pulmonx (LUNG) posted quarterly Research & Development of $4.8 million for Q3 2025, up 29.43% year-over-year from $3.7 million in Q3 2024, and down 8.67% quarter-over-quarter from $5.3 million in Q2 2025.
Pulmonx (LUNG) Research & Development (2019 - 2025) Analysis & Trends
Pulmonx (LUNG) has reported Research & Development for 7 consecutive years, with $4.8 million the latest figure, recorded in Q3 2025.
- In Q3 2025, Research & Development rose 29.43% year-over-year to $4.8 million; the TTM figure through Sep 2025 stood at $18.9 million (up 8.27% YoY), while the FY2024 annual figure was $17.6 million, down 2.82% from the prior year.
- Research & Development eased to $4.8 million in Q3 2025 per LUNG's latest filing, from $5.3 million in the prior quarter.
- Across five years, Research & Development topped out at $5.7 million in Q2 2023 and bottomed at $2.8 million in Q3 2021.
- Historically, Research & Development has averaged $4.2 million across 5 years, with a median of $4.0 million in 2024.
- Annual changes were most pronounced in 2021 — Research & Development jumped 145.86% — and 2024, when it decreased 11.28%.
- Pulmonx's Research & Development stood at $3.7 million in 2021, then rose by 5.26% to $3.9 million in 2022, then retreated by 0.18% to $3.9 million in 2023, then rose by 2.7% to $4.0 million in 2024, then climbed by 21.12% to $4.8 million in 2025.
- Business Quant data shows LUNG's Research & Development at $4.8 million in Q3 2025, $5.3 million in Q2 2025, and $4.8 million in Q1 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 200.51 Bn | 194.91 Bn | 7.27 Bn | 892.00 Mn |
| 2 | Stryker | 129.96 Bn | 126.48 Bn | 4.50 Bn | 434.00 Mn |
| 3 | Medtronic | 120.18 Bn | 110.96 Bn | 6.41 Bn | 671.00 Mn |
| 4 | Boston Scientific | 74.28 Bn | 73.74 Bn | 3.85 Bn | 554.00 Mn |
| 5 | Edwards Lifesciences | 52.75 Bn | 48.50 Bn | 1.35 Bn | 278.90 Mn |
| 6 | Dexcom | 34.67 Bn | 32.73 Bn | 830.00 Mn | 153.00 Mn |
| 7 | GE HealthCare Technologies | 34.23 Bn | 32.12 Bn | 2.18 Bn | 323.00 Mn |
| 8 | Koninklijke Philips | 26.46 Bn | 23.14 Bn | 4.55 Bn | -562.58 Mn |
| 9 | Steris | 23.30 Bn | 22.82 Bn | 684.20 Mn | 28.60 Mn |
| 10 | Pulmonx | 97.63 Mn | 27.88 Mn | - | - |
Historic Data
Download Data| Date | Value |
|---|---|
| Sep 30, 2025 | 4.85 Mn |
| Jun 30, 2025 | 5.31 Mn |
| Mar 31, 2025 | 4.76 Mn |
| Dec 31, 2024 | 4.00 Mn |
| Sep 30, 2024 | 3.74 Mn |
| Jun 30, 2024 | 5.62 Mn |
| Mar 31, 2024 | 4.21 Mn |
| Dec 31, 2023 | 3.90 Mn |
| Sep 30, 2023 | 4.22 Mn |
| Jun 30, 2023 | 5.71 Mn |
| Mar 31, 2023 | 4.25 Mn |
| Dec 31, 2022 | 3.90 Mn |
| Sep 30, 2022 | 4.37 Mn |
| Jun 30, 2022 | 3.59 Mn |
| Mar 31, 2022 | 3.53 Mn |
| Dec 31, 2021 | 3.71 Mn |
| Sep 30, 2021 | 2.82 Mn |
| Jun 30, 2021 | 3.51 Mn |
| Mar 31, 2021 | 3.03 Mn |
| Dec 31, 2020 | 2.47 Mn |