Pulmonx Corp
For the period ended Dec 31, 2025. Filed Mar 10, 2026.
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FY2025 · Filed Mar 10, 2026
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, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(54,003) | $(56,394) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation expense | 21,233 | 22,955 |
| Impairment of capitalized software development costs | — | 1,717 |
| Change in allowance for credit losses | — | 40 |
| Inventory write-down (recovery), net | 143 | 75 |
| Depreciation and amortization expense | 1,054 | 1,493 |
| Amortization of debt discount and debt issuance costs | 53 | 52 |
| Net accretion of discounts on marketable securities | (379) | (1,616) |
| Non-cash lease expense | 1,448 | 1,844 |
| Net changes in operating assets and liabilities: | ||
| Accounts receivable | 1,075 | (1,308) |
| Inventory | (765) | (229) |
| Prepaid expenses and other current assets | 813 | (436) |
| Other assets | (142) | (546) |
| Accounts payable | 270 | 2,278 |
| Accrued liabilities | (2,279) | 462 |
| Income taxes payable | 194 | (38) |
| Lease liabilities | (955) | (1,870) |
| Deferred tax liability | (15) | (50) |
| Deferred revenue | (121) | 34 |
| Net cash used in operating activities | (32,376) | (31,537) |
| Cash flows from investing activities | ||
| Purchases of investments | (5,651) | (27,914) |
| Maturities of investments | 36,585 | 46,837 |
| Purchases of property and equipment | (452) | (1,447) |
| Net cash provided by investing activities | 30,482 | 17,476 |
| Cash flows from financing activities | ||
| Repayment of credit agreement | (100) | (95) |
| Debt issuance cost | (70) | — |
| Proceeds from exercise of common stock options | 249 | 218 |
| Proceeds from issuance of common stock under the employee stock purchase plan | 754 | 1,240 |
| Net cash provided by financing activities | 833 | 1,363 |
| Effect of exchange rate changes on cash, cash equivalents, and restricted cash | (92) | 76 |
| Net decrease in cash, cash equivalents, and restricted cash | (1,153) | (12,622) |
| Cash, cash equivalents, and restricted cash at beginning of year | 71,162 | 83,784 |
| Cash, cash equivalents, and restricted cash at end of year | $70,009 | $71,162 |
| Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets: | ||
| Cash and cash equivalents | $69,751 | $70,905 |
| Restricted cash | 258 | 257 |
| Cash, cash equivalents, and restricted cash in consolidated balance sheets | $70,009 | $71,162 |
| Supplemental non-cash items: | ||
| Purchases of property and equipment in accounts payable and accrued liabilities | $8 | $218 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $468 | $556 |
|---|---|---|
| Cash paid for interest | $3,113 | $3,482 |
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