Pulmonx Corp
For the period ended Dec 31, 2024. Filed Feb 25, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 25, 2025
LUNG$2.800.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
Consolidated Statements of Cash Flows
(in thousands)
| Years Ended December 31, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities | ||
| Net loss | $(56,394) | $(60,843) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation expense | 22,955 | 22,101 |
| Gain on disposal of fixed assets | — | (15) |
| Impairment of capitalized software development costs | 1,717 | — |
| Change in allowance for credit losses | 40 | (59) |
| Inventory write-downs | 75 | 507 |
| Depreciation and amortization expense | 1,493 | 1,548 |
| Amortization of debt discount and debt issuance costs | 52 | 48 |
| Net accretion of discounts on marketable securities | (1,616) | (1,025) |
| Non-cash lease expense | 1,844 | 2,686 |
| Net changes in operating assets and liabilities: | ||
| Accounts receivable | (1,308) | (3,104) |
| Inventory | (229) | 918 |
| Prepaid expenses and other current assets | (436) | (57) |
| Other assets | (546) | (36) |
| Accounts payable | 2,278 | (345) |
| Accrued liabilities | 462 | 3,176 |
| Income taxes payable | (38) | 68 |
| Lease liabilities | (1,870) | (3,182) |
| Deferred tax liability | (50) | 24 |
| Deferred revenue | 34 | (20) |
| Net cash used in operating activities | (31,537) | (37,610) |
| Cash flows from investing activities | ||
| Purchases of investments | (27,914) | (46,200) |
| Maturities of investments | 46,837 | 45,000 |
| Purchases of property and equipment | (1,447) | (807) |
| Net cash provided by (used in) investing activities | 17,476 | (2,007) |
| Cash flows from financing activities | ||
| Proceeds from borrowing under term loan | — | 20,000 |
| Repayment of credit agreement | (95) | (94) |
| Proceeds from exercise of common stock options | 218 | 310 |
| Proceeds from issuance of common stock under the employee stock purchase plan | 1,240 | 1,184 |
| Net cash provided by financing activities | 1,363 | 21,400 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | 76 | 34 |
| Net decrease in cash, cash equivalents, and restricted cash | (12,622) | (18,183) |
| Cash, cash equivalents, and restricted cash at beginning of year | 83,784 | 101,967 |
| Cash, cash equivalents, and restricted cash at end of year | $71,162 | $83,784 |
| Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets: | ||
| Cash and cash equivalents | $70,905 | $83,547 |
| Restricted cash | 257 | 237 |
| Cash, cash equivalents, and restricted cash in consolidated balance sheets | $71,162 | $83,784 |
| Supplemental non-cash items: | ||
| Lapse in repurchase rights of common stock | $— | $144 |
| Purchases of property and equipment in accounts payable and accrued liabilities | $218 | $109 |
|---|---|---|
| Amount receivable from exercise of common stock options | $— | $3 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $556 | $471 |
| Cash paid for interest | $3,482 | $2,984 |
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