Core Insights - Pulmonx Corporation reported a strong international performance leading to double-digit revenue growth in Q2 2025, although it revised its full-year revenue guidance downwards due to slower revenue conversion from U.S. initiatives [3][7]. Financial Performance - Total worldwide revenue for Q2 2025 was $23.9 million, a 15% increase from $20.8 million in Q2 2024, and a 13% increase on a constant currency basis [4][9]. - U.S. revenue reached $14.7 million, reflecting a 6% year-over-year growth, while international revenue was $9.1 million, marking a 32% increase compared to Q2 2024, and a 27% increase on a constant currency basis [4][9]. - Gross profit for Q2 2025 was $17.2 million, with a gross margin of 72%, down from 74% in the same period last year [5][9]. - Operating expenses increased by 3% to $32.0 million in Q2 2025 compared to $30.9 million in Q2 2024 [5]. Net Loss and Adjusted EBITDA - The net loss for Q2 2025 was $15.2 million, or $0.38 per share, slightly improved from a net loss of $15.3 million, or $0.39 per share, in Q2 2024 [6][9]. - Adjusted EBITDA loss for Q2 2025 was $8.4 million, compared to $7.6 million for the same period in 2024 [6][9]. Financial Outlook - The company revised its full-year 2025 revenue guidance to a range of $90 million to $92 million, down from previous expectations of $96 million to $98 million [7]. - Expected gross margin for the full year 2025 is approximately 74% [7]. - Total operating expenses for the full year 2025 are now projected to be between $128 million and $130 million, reduced from prior guidance of $133 million to $135 million [8]. Operational Highlights - Pulmonx engaged over 20,000 first-time patients through targeted Direct-to-Patient advertising in Q2 2025 [9]. - The company added 12 new Zephyr® Valve treatment centers in the U.S. and trained 26 new physicians during the same period [9].

Company Overview - Pulmonx Corporation is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD) [2] - The company’s key products include the Zephyr Endobronchial Valve, Chartis Pulmonary Assessment System, LungTrax™ Platform, and StratX Lung Analysis Reports, which are designed for patients with severe emphysema/COPD [2] - The Zephyr Valve has received FDA pre-market approval and is recognized as a "breakthrough device," being commercially available in over 25 countries and included in global treatment guidelines [2] Upcoming Events - Pulmonx will present at the Goldman Sachs 46th Annual Global Health Care Conference in Miami on June 11, 2025, at 7:00 AM PT / 10:00 AM ET [1] - A live and archived webcast of the presentation will be accessible on the "Investors" section of the Pulmonx website [1]