NASDAQ$LUNG

Pulmonx Corporation · Q4 2022 earnings

Q4 2022 earnings · · Investor relations

Briefing

Pulmonx reported record worldwide revenue and U.S. revenue for the fourth quarter of 2022.

Pulmonx Corporation reported a 13% increase in worldwide revenue for the fourth quarter of 2022, reaching a record $15.4 million. U.S. revenue also hit a record of $9.5 million, a 30% increase year-over-year. The company's gross margin was 73% for the quarter.

  • Delivered $53.7 million in worldwide revenue for the full year of 2022.
  • Achieved record worldwide revenue of $15.4 million for the fourth quarter of 2022, a 13% increase over the same period last year.
  • Set a new record of $32.5 million and $9.5 million in U.S. revenue for the full year 2022 and the fourth quarter 2022 respectively, each representing 30% year-over-year growth.
  • Realized gross margin of 73% in the fourth quarter of 2022 and 74% for the full year of 2022.

Headline financials

Total Revenue

$15.4M

Previous: $13.7M+12.5%
EPS (adj)

-$0.38

Previous: -$0.35-8.6%
Capital Expenditures

$176K

Previous: $1.15M-84.7%
Free Cash Flow

-$9.98M

Previous: -$11.9M+15.8%
Net Income

-$14.3M

Previous: -$13M-9.9%
Operating Income

-$14.6M

Previous: -$12.4M-18.3%
Gross Profit

$11.2M

Previous: $10.3M+9.1%
Cash & Equivalents

$102M

Previous: $148M-31.5%
Total Assets

$194M

Previous: $235M-17.6%
Stock-Based Comp

$4.25M

Previous: $5.35M-20.6%

Revenue & EPS history

Pulmonx · Revenue · Quarterly

$15.4M

Q4 2022+12.5%vs Q4 2021
Beat estimate in 12 of 14 quarters(86%)
ActualEstimate

Forward guidance

Pulmonx expects revenue for the full year 2023 to be in the range of $63 million to $65 million. The Company expects gross margin for the full year 2023 to fall within the range of 73% to 74%. Pulmonx expects 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.

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 2022

Historical avgQ4 2022

-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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