Pulmonx (LUNG) Stock Forecast & Price Target

Pulmonx Corp has reported a third quarter revenue of $21.5 million for 2025, marking a 5% year-over-year increase attributed to the steady adoption of its Zephyr Valve for severe emphysema, alongside a remarkable international sales growth of 15%. The company has maintained a healthy gross margin of 75%, while also improving gross profit to $16.1 million compared to the previous year's $15.0 million, indicating positive operational efficiency. Furthermore, Pulmonx's disciplined investment approach, coupled with strong leadership appointments, positions the company well for future growth, particularly as it navigates international markets and advances its clinical and commercial initiatives.

Pulmonx Corp reported preliminary Q3 revenue of approximately $21.5 million, reflecting a sequential decline from Q2's $23.9 million, which highlights concerns over the company's growth trajectory and contributed to a lowered revenue guidance for the year to $90 million–$92 million. The transition in management, with Glen French returning as CEO and Derrick Sung appointed as COO/CFO, raises execution risks, further complicating the company's operational stability and revenue prospects. Additionally, challenges with product mix and conversion timing negatively impacted both top-line growth and gross margins, which fell from 72% in Q2, indicating underlying financial weaknesses.