Pulmonx reported total assets of $129.29M and total liabilities of $75.17M for the quarter ended Dec 2025, down 20.6% year over year. This balance sheet covers 26 quarters of results from Sep 2019 through Dec 2025, standardized by Business Quant from the company’s SEC filings.
| Balance Sheet | Sep2019 | Dec2019 | Mar2020 | Jun2020 | Sep2020 | Dec2020 | Mar2021 | Jun2021 | Sep2021 | Dec2021 | Mar2022 | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||||||||||||||||
| Current Assets | ||||||||||||||||||||||||||
| Cash & EquivalentsCash & Equiv. | 209.28M | 198.70M | 188.07M | 148.48M | 129.17M | 121.95M | 112.40M | 101.74M | 110.41M | 101.58M | 94.94M | 83.55M | 70.16M | 63.46M | 63.31M | 70.91M | 74.56M | 75.47M | 76.55M | 69.75M | ||||||
| Short-term InvestmentsInvestments (Current) | 9.78M | 10.77M | 11.77M | 31.56M | 40.91M | 40.14M | 44.50M | 39.40M | 42.43M | 33.57M | 21.54M | 33.55M | 45.97M | 51.08M | 44.47M | 30.58M | 14.15M | 8.76M | ||||||||
| Cash & Current Investments | 219.07M | 209.48M | 199.85M | 180.04M | 170.08M | 162.09M | 156.90M | 141.14M | 152.84M | 135.15M | 116.48M | 117.10M | 116.13M | 114.55M | 107.78M | 101.48M | 88.70M | 84.22M | 76.55M | 69.75M | ||||||
| Receivables - NetNet Receivables | 5.12M | 6.88M | 6.92M | 6.56M | 6.81M | 7.52M | 7.22M | 8.68M | 8.17M | 8.94M | 10.09M | 12.11M | 10.52M | 11.08M | 11.67M | 13.12M | 13.97M | 15.90M | 13.80M | 12.07M | ||||||
| Receivables | 5.12M | 6.88M | 6.92M | 6.56M | 6.81M | 7.52M | 7.22M | 8.68M | 8.17M | 8.94M | 10.09M | 12.11M | 10.52M | 11.08M | 11.67M | 13.12M | 13.97M | 15.90M | 13.80M | 12.07M | ||||||
| Raw Materials | 3.04M | 3.13M | 3.49M | 3.74M | 3.75M | 3.78M | 3.78M | 3.82M | 3.48M | 3.34M | 2.91M | 2.92M | 3.06M | 3.03M | 3.37M | 3.41M | 3.38M | 3.94M | 4.26M | 4.87M | ||||||
| Work In Process | 0.31M | 0.38M | 0.71M | 0.52M | 0.75M | 0.78M | 0.55M | 0.39M | 0.47M | 0.64M | 0.54M | 0.43M | 0.44M | 0.39M | 0.37M | 0.46M | 0.50M | 0.56M | 0.58M | 0.53M | ||||||
| Finished Goods | 8.56M | 9.89M | 10.79M | 12.03M | 13.80M | 14.65M | 15.79M | 15.64M | 16.41M | 16.09M | 16.13M | 15.97M | 16.25M | 15.86M | 15.49M | 14.73M | 14.30M | 13.56M | 13.89M | 14.05M | ||||||
| Inventory | 11.92M | 13.40M | 14.98M | 16.29M | 18.30M | 19.21M | 15.57M | 14.56M | 15.59M | 15.64M | 16.13M | 16.74M | 17.23M | 16.98M | 16.96M | 16.91M | 16.81M | 16.18M | 16.25M | 15.85M | ||||||
| Prepaid Assets | 3.01M | 3.09M | 5.66M | 4.88M | 5.30M | 3.73M | 3.19M | 4.34M | 4.47M | 4.23M | 4.42M | 4.24M | 3.82M | 3.30M | 4.26M | 4.47M | 4.20M | 3.46M | 4.38M | 3.76M | ||||||
| Current Assets | 239.34M | 233.08M | 227.64M | 208.00M | 200.72M | 192.78M | 183.11M | 168.95M | 181.30M | 164.43M | 147.36M | 150.42M | 147.94M | 146.16M | 140.93M | 136.25M | 123.94M | 120.02M | 111.23M | 101.68M | ||||||
| Non-Current Assets | ||||||||||||||||||||||||||
| Property, Plant & Equipment (Net)PP&E (Net) | 1.80M | 2.77M | 4.70M | 4.81M | 4.92M | 4.93M | 4.92M | 4.69M | 4.49M | 4.22M | 4.07M | 4.03M | 4.22M | 2.83M | 2.98M | 2.91M | 2.83M | 2.66M | 2.44M | 2.22M | ||||||
| Long-Term Investments | 2.50M | 2.02M | 2.80M | 10.94M | 6.38M | 4.68M | 4.56M | 5.92M | 4.77M | 12.45M | 23.27M | 14.39M | 4.29M | 2.30M | 2.27M | 1.68M | 1.38M | 1.89M | 2.47M | 3.60M | ||||||
| Goodwill | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | ||||||
| Intangibles | 0.37M | 0.34M | 0.31M | 0.28M | 0.25M | 0.22M | 0.18M | 0.15M | 0.12M | 0.09M | 0.06M | 0.03M | ||||||||||||||
| Goodwill & Intangibles | 2.70M | 2.67M | 2.64M | 2.61M | 2.58M | 2.55M | 2.52M | 2.49M | 2.46M | 2.42M | 2.40M | 2.36M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | 2.33M | ||||||
| Other Non-Current Assets | 0.23M | 0.23M | 0.23M | 0.73M | 0.23M | 0.23M | 0.23M | 0.53M | 0.23M | 0.47M | 0.24M | 0.59M | 0.24M | 0.26M | 0.26M | 1.14M | 0.26M | 0.26M | 1.52M | 1.42M | ||||||
| Non-Current Assets | 15.93M | 15.86M | 19.17M | 27.17M | 22.12M | 19.95M | 19.09M | 24.72M | 19.97M | 28.68M | 37.65M | 27.36M | 16.65M | 26.47M | 26.47M | 26.60M | 26.80M | 27.17M | 27.05M | 27.61M | ||||||
| Assets | 255.27M | 248.94M | 246.82M | 235.17M | 222.85M | 212.73M | 202.20M | 193.68M | 201.27M | 193.11M | 185.02M | 177.78M | 164.58M | 172.63M | 167.40M | 162.85M | 150.74M | 147.19M | 138.28M | 129.29M | ||||||
| Liabilities | ||||||||||||||||||||||||||
| Current Liabilities | ||||||||||||||||||||||||||
| Accounts Payables | 1.83M | 2.16M | 4.43M | 1.58M | 2.80M | 2.60M | 2.65M | 1.76M | 2.89M | 2.38M | 3.19M | 1.50M | 3.12M | 3.18M | 4.58M | 3.83M | 4.28M | 6.56M | 6.42M | 3.90M | ||||||
| Notes Payables | 16.33M | 14.94M | 13.55M | 17.32M | 0.80M | 2.92M | 5.04M | 0.09M | 0.09M | 0.09M | 0.09M | 2.15M | 5.23M | 0.09M | 0.10M | 3.18M | 7.80M | 0.10M | 0.10M | 0.11M | ||||||
| Payables | 18.16M | 17.09M | 17.98M | 18.91M | 3.60M | 5.52M | 7.69M | 1.85M | 2.98M | 2.47M | 3.28M | 3.65M | 8.36M | 3.27M | 4.67M | 7.00M | 12.08M | 6.66M | 6.53M | 4.01M | ||||||
| Accumulated Expenses | 9.76M | 10.50M | 12.37M | 13.37M | 10.87M | 11.73M | 10.74M | 13.28M | 10.63M | 13.56M | 13.68M | 16.23M | 10.07M | 11.78M | 12.78M | 16.47M | 11.55M | 14.39M | 14.94M | 14.56M | ||||||
| Short term Debt | 0.47M | 1.89M | 3.31M | 0.09M | 0.80M | 2.92M | 5.04M | 0.09M | 0.09M | 0.09M | 0.09M | 2.15M | 5.23M | 0.09M | 0.10M | 3.18M | 7.80M | 0.10M | 0.10M | 0.11M | ||||||
| Current Leases | 1.77M | 1.69M | 1.95M | 2.20M | 2.97M | 3.06M | 3.15M | 3.23M | 3.30M | 3.35M | 3.44M | 3.07M | 2.69M | 1.07M | 0.66M | 0.78M | 1.10M | 1.11M | 1.14M | 1.21M | ||||||
| Current Taxes | 0.12M | 0.01M | 0.15M | 0.14M | 0.02M | 0.06M | 0.04M | 0.09M | 0.07M | 0.07M | 0.07M | 0.05M | 0.09M | 0.20M | 0.19M | 0.26M | ||||||||||
| Current Deferred Revenue | 0.10M | 0.10M | 0.20M | 0.20M | 0.13M | 0.13M | 0.11M | 0.12M | 0.11M | 0.10M | 0.10M | 0.10M | 0.11M | 0.11M | 0.11M | 0.14M | 0.13M | 0.10M | 0.10M | 0.10M | ||||||
| Total Current Liabilities | 14.02M | 16.33M | 22.22M | 17.55M | 17.71M | 20.45M | 21.69M | 18.49M | 17.08M | 19.52M | 20.48M | 23.16M | 21.29M | 16.30M | 18.30M | 24.44M | 24.95M | 22.45M | 22.88M | 20.06M | ||||||
| Non-Current Liabilities | ||||||||||||||||||||||||||
| Non-Current Debt | 17.33M | 17.37M | 17.39M | 0.18M | 17.43M | 17.38M | 17.38M | 17.23M | 37.26M | 37.24M | 37.24M | 35.09M | 37.23M | 37.20M | 37.24M | 34.00M | 37.20M | 37.12M | 37.13M | 36.99M | ||||||
| Convertible Debt | ||||||||||||||||||||||||||
| Preferred Stock Liabilities | ||||||||||||||||||||||||||
| Non-Current Deferred Tax LiabilityNon-Current Deferred Tax | 0.07M | 0.07M | 0.07M | 0.04M | 0.05M | 0.05M | 0.05M | 0.09M | 0.07M | 0.09M | 0.10M | 1.28M | 0.14M | 0.12M | 0.13M | 0.09M | 0.08M | 0.04M | 0.05M | 0.07M | ||||||
| Operating Leases | 9.47M | 8.83M | 9.39M | 6.84M | 9.10M | 8.48M | 7.79M | 3.85M | 6.31M | 5.75M | 4.97M | 1.11M | 3.34M | 18.98M | 18.57M | 18.52M | 19.75M | 19.71M | 19.43M | 18.06M | ||||||
| Other Non-Current Liabilities | 0.18M | 0.18M | 0.18M | |||||||||||||||||||||||
| Total Non-Current Liabilities | 41.76M | 40.52M | 40.37M | 38.72M | 75.17M | |||||||||||||||||||||
| Total Liabilities | 39.12M | 40.07M | 43.99M | 41.93M | 40.70M | 40.55M | 38.72M | 39.67M | 57.34M | 59.16M | 59.27M | 59.47M | 54.09M | 71.44M | 73.48M | 77.04M | 73.07M | 78.10M | 78.25M | 75.17M | ||||||
| Shareholder's Equity | ||||||||||||||||||||||||||
| Total Debt | 34.13M | 34.20M | 34.24M | 17.59M | 19.02M | 23.22M | 27.47M | 17.41M | 37.45M | 37.43M | 37.43M | 39.40M | 47.70M | 37.39M | 37.43M | 40.35M | 52.80M | 37.32M | 37.34M | 37.20M | ||||||
| Common Equity | 216.15M | 208.87M | 202.83M | 193.24M | 182.15M | 172.18M | 163.48M | 154.01M | 143.93M | 133.95M | 125.74M | 118.31M | 110.50M | 101.18M | 93.92M | 85.81M | 77.67M | 69.09M | 60.03M | 54.12M | ||||||
| Liabilities and Shareholders Equity | 255.27M | 248.94M | 246.82M | 235.17M | 222.85M | 212.73M | 202.20M | 193.68M | 201.27M | 193.11M | 185.02M | 177.78M | 164.58M | 172.63M | 167.40M | 162.85M | 150.74M | 147.19M | 138.28M | 129.29M | ||||||
| Retained Earnings | -254.80M | -267.20M | -278.40M | -291.39M | -307.22M | -321.90M | -336.04M | -350.32M | -366.20M | -382.40M | -397.30M | -411.16M | -424.91M | -440.24M | -454.40M | -467.56M | -482.00M | -497.20M | -511.13M | -521.56M | ||||||
| Treasury Shares |