NASDAQ$LUNG
Pulmonx Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Achieved record worldwide revenue with increased screening and treatment of emphysema patients.
Pulmonx reported a 23% increase in worldwide revenue, reaching $17.2 million in Q2 2023. U.S. revenue grew by 28% to $11.0 million. The company is increasing its full-year revenue expectation to $64 million to $66 million.
- Achieved record worldwide revenue of $17.2 million, a 23% increase year-over-year.
- U.S. revenue reached a new high of $11.0 million, representing 28% year-over-year growth.
- Gross margin was 74% in the second quarter of 2023.
- Added 15 new U.S. treatment centers for Zephyr Valves.
Headline financials
Revenue & EPS history
Pulmonx · Revenue · Quarterly
$17.2M
Forward guidance
Pulmonx is increasing its expectation for revenue in 2023 to now range from $64 million to $66 million, which represents approximately 19% to 23% growth over the Company's fiscal year 2022 revenue. The Company continues to expect gross margin for the full year 2023 to fall within the range of 73% to 74%. Pulmonx also continues to expect total operating expenses for the full year 2023 to fall within the range of $112 million to $114 million, inclusive of approximately $22 million of non-cash stock-based compensation.
Tailwinds
- Revenue is expected to range from $64 million to $66 million.
- Revenue represents approximately 19% to 23% growth over the Company's fiscal year 2022 revenue.
- Gross margin for the full year 2023 is expected to fall within the range of 73% to 74%.
- Physician engagement
- Awareness of the benefits of the Zephyr Valve
Headwinds
- Total operating expenses for the full year 2023 are expected to fall within the range of $112 million to $114 million.
- Includes approximately $22 million of non-cash stock-based compensation.
- Overall business strategy
- Commercial momentum
- Increase in operating expenses was primarily attributable to an increase in clinical and development costs related to our AeriSeal program, increases in selling and legal expenses, and higher stock -based compensation expense.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-3.4%
Avg return
Earnings day
-4.1%
Avg return
5 days after
-5.3%
Avg return
30 days after
42%
10 / 24 earnings
Positive
+32.2%
Q4 2024
Best reaction
-64.7%
Q3 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -1.5% | -6.7% | +12.6% | |
| Q4 2025 | +0.6% | -6.1% | -28.2% | |
| Q3 2025 | -18.9% | -28.6% | +29.1% | |
| Q1 2025 | -21.9% | -28.8% | -29.6% | |
| Q4 2024 | +32.2% | +30.7% | +17.0% | |
| Q3 2024 | -7.7% | +5.2% | -4.7% | |
| Q2 2024 | -8.1% | -15.4% | +3.7% | |
| Q1 2024 | +23.3% | +21.9% | -4.7% | |
| Q4 2023 | -17.7% | -27.9% | -36.1% | |
| Q3 2023 | +6.9% | +20.7% | +34.2% | |
| Q2 2023 | -4.1% | -8.0% | -26.0% | |
| Q1 2023 | +1.1% | -0.2% | -1.5% | |
| Q4 2022 | +20.8% | +26.0% | +27.1% | |
| Q3 2022 | -64.7% | -61.1% | -52.3% | |
| Q2 2022 | +9.2% | +19.9% | +5.7% | |
| Q1 2022 | +0.6% | -23.6% | -23.9% | |
| Q4 2021 | -6.9% | -2.5% | -12.5% | |
| Q3 2021 | +7.1% | +12.6% | -23.7% | |
| Q2 2020 | -7.6% | -10.9% | -1.6% | |
| Q2 2021 | +0.1% | +6.0% | +3.3% | |
| Q1 2020 | -5.8% | -5.3% | +9.9% | |
| Q1 2021 | -8.7% | -9.6% | -10.3% | |
| Q4 2020 | -4.1% | -3.4% | -20.2% | |
| Q3 2020 | -4.9% | -3.4% | +5.6% | |
| Q4 2019 | — | — | — | |
| Q3 2019 | — | — | — | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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