Pulmonx Corp
For the period ended Sep 30, 2026. Filed Nov 3, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2026 · Filed Nov 3, 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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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Cash flows from operating activities | ||
| Net loss | $(32,128) | $(43,578) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Stock-based compensation expense | 11,445 | 16,992 |
| Inventory write-down (recovery), net | 225 | (24) |
| Depreciation and amortization expense | 657 | 823 |
| Loss on debt extinguishment | 107 | — |
| Amortization of debt discount and debt issuance costs | 301 | 38 |
| PIK interest incurred but not paid on term loan | 476 | — |
| Net accretion of discounts on marketable securities | — | (379) |
| Change in fair value of common stock warrant liability | 68 | — |
| Non-cash lease expense | 1,209 | 1,080 |
| Other | 1 | — |
| Net changes in operating assets and liabilities: | ||
| Accounts receivable | (174) | (531) |
| Inventory | (634) | 45 |
| Prepaid expenses and other current assets | 267 | 186 |
| Other assets | (24) | (237) |
| Accounts payable | 614 | 2,766 |
| Accrued liabilities | 157 | (1,836) |
| Income taxes payable | (104) | 85 |
| Lease liabilities | (955) | (674) |
| Deferred tax liability | 4 | — |
| Deferred revenue | (6) | (48) |
| Net cash used in operating activities | (18,494) | (25,292) |
| Cash flows from investing activities | ||
| Purchases of investments | — | (5,651) |
| Maturities of investments | — | 36,585 |
| Purchases of property and equipment and internal software development costs | (18) | (439) |
| Net cash (used in) provided by investing activities | (18) | 30,495 |
| Cash flows from financing activities | ||
| Repayment of debt | (37,000) | — |
| Proceeds from debt | 38,785 | — |
| Repayment of credit agreement | (52) | (49) |
| Payment of debt discounts and issuance costs | (507) | (70) |
| Proceeds from exercise of common stock options | 45 | 143 |
| Proceeds from issuance of common stock under the employee stock purchase plan | 403 | 754 |
| Net cash provided by financing activities | 1,674 | 778 |
| Effect of exchange rate changes on cash and cash equivalents | (224) | (333) |
| Net (decrease) increase in cash, cash equivalents, and restricted cash | (17,062) | 5,648 |
| Cash, cash equivalents, and restricted cash at beginning of the period | 70,009 | 71,162 |
| Cash, cash equivalents, and restricted cash at end of the period | $52,947 | $76,810 |
| Reconciliation of cash, cash equivalents, and restricted cash to consolidated balance sheets: | ||
|---|---|---|
| Cash and cash equivalents | $52,690 | $76,549 |
| Restricted cash | 257 | 261 |
| Cash, cash equivalents, and restricted cash in consolidated balance sheets | $52,947 | $76,810 |
| Supplemental non-cash items: | ||
| Issuance of common stock warrants | $1,383 | $— |
| Purchases of property and equipment in accounts payable and accrued liabilities | $— | $12 |
| Supplemental disclosure of cash flow information: | ||
| Cash paid for income taxes | $496 | $364 |
| Cash paid for interest | $2,799 | $2,364 |
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