Pulmonx Returns to Year-Over-Year Growth
The medical device maker reported $22.8 million in third-quarter 2026 revenue and narrowed its losses through cost reductions.
Updated on Nov. 9, 2026 in Asthma
Pulmonx reported total revenue of $22.8 million in the third quarter of 2026, returning to year-over-year growth in both its U.S. and international businesses. The company also reduced its third-quarter adjusted EBITDA loss by nearly 60% year over year.
Why it matters
The results mark a turnaround for the company after cost reduction efforts initiated at the start of 2026. Pulmonx also lowered its full-year cash burn expectation to $22 million, signaling tighter financial control.
The company's third-quarter results are company-reported financial figures, with revenue of $22.8 million and domestic growth of 7% year over year. Gross margins are above 75%, but the extraction does not address whether the cash burn target of $22 million will hold through year-end.
The players
Pulmonx
Pulmonx is a medical technology company focused on treatments for chronic lung diseases, including its AeriSeal foam for sealing air leaks.
The details
Pulmonx prioritized high-yielding sales accounts and filled substantially all open U.S. sales seats. The company is also enrolling patients in a trial for AeriSeal, a foam designed to seal lung air leaks, which it expects to expand its addressable market by roughly 20% globally.
Timeline
Start of 2026: Pulmonx initiated cost reduction efforts.
Oct. 27, 2026: Pulmonx held its third-quarter 2026 earnings call.
Remainder of 2026: Pulmonx expects year-over-year revenue growth to continue in its U.S. and international businesses.
Health Landscape
Pulmonx's return to growth comes as its AeriSeal program, now in patient enrollment, is positioned to widen the market for interventions addressing lung air leaks. The company's margin profile, with gross margins above 75%, places it among high-margin device makers pursuing specialty respiratory niches.
For patients with chronic lung conditions, the expansion of treatment options such as AeriSeal could broaden access to interventions for air leaks. The extraction does not indicate when AeriSeal will be available outside the current trial.
The takeaway
Companies in specialized medical devices often rely on cost discipline before new product lines can drive growth, and Pulmonx's results show how that sequence can play out. Readers tracking respiratory treatments should watch whether the projected growth and AeriSeal trial results hold in coming quarters.
Further reading
For broader background on the respiratory conditions this device market serves, see Asthma.
Source note: This article includes information reported by The Motley Fool.
