NASDAQ$LUNG

Pulmonx Corporation · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Pulmonx's financial performance declined slightly in Q4 2020 due to the impact of the COVID-19 pandemic, but U.S. revenue increased.

Pulmonx Corporation reported a slight decline in worldwide revenue for Q4 2020, primarily due to the impact of the COVID-19 pandemic on international revenue. However, U.S. revenue saw an increase driven by expanded commercialization efforts. The company's gross profit and margin remained strong, but operating expenses increased due to investments in commercial and R&D functions.

  • Total worldwide revenue in Q4 2020 was $9.8 million, a 5% decrease compared to Q4 2019.
  • U.S. revenue increased by 4% to $4.9 million, driven by increased sales of the Zephyr Valve.
  • International revenue decreased by 12% to $5.0 million due to the continued impact of the COVID-19 pandemic.
  • Net loss in Q4 2020 was $9.3 million, or $0.27 per share, compared to a net loss of $4.7 million, or $2.48 per share, for the same period in 2019.

Headline financials

Total Revenue

$9.83M

Previous: $10.3M-5.0%
EPS (adj)

-$0.27

Previous: -$0.23-19.8%
Capital Expenditures

$693K

No prior period
Free Cash Flow

-$7.96M

No prior period
Net Income

-$9.3M

Previous: -$4.67M-99.2%
Operating Income

-$9.35M

Previous: -$4.29M-118.0%
Gross Profit

$7.08M

Previous: $7.34M-3.5%
Cash & Equivalents

$232M

No prior period
Total Assets

$264M

No prior period
Stock-Based Comp

$2.31M

No prior period

Revenue & EPS history

Pulmonx · Revenue · Quarterly

$9.83M

Q4 2020-5%vs Q4 2019
Beat estimate in 6 of 10 quarters(60%)
ActualEstimate

Forward guidance

Pulmonx expects revenue for the full year 2021 to range from $46 million to $50 million, representing approximately 41% to 53% growth over the company's full year 2020 revenue. Management expects revenue for the first quarter 2021 to range from $8.0 million to $8.3 million. Pulmonx expects total operating expenses for the full year 2021 to range from $85 million to $90 million inclusive of stock-based compensation.

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 Q4 2020

Historical avgQ4 2020

-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

Earnings price reactions
QuarterReport dateReaction (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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