Pulmonx Corp

Pulmonx Corporation (NASDAQ: PULM) is a commercial-stage medical technology company focused on treating patients with severe emphysema, a progressive form of chronic obstructive pulmonary disease. The company's core solution comprises three integrated components: the Zephyr Endobronchial Valve, the Chartis Pulmonary Assessment System, and the LungTraX Platform, a cloud-based quantitative CT analysis service. These products work together to provide a minimally invasive treatment alternative for severe emphysema patients who remain symptomatic despite medical management and are either unwilling or ineligible for surgical interventions.

The Zephyr Valve, which received FDA pre-market approval in 2018, is a one-way silicone valve suspended within a self-expanding nitinol frame designed to occlude airways leading to diseased lung lobes, allowing remaining healthy lung tissue to expand and restore normal breathing function. The Chartis System uses balloon catheter technology with flow and pressure sensors to assess collateral ventilation and predict treatment response. The LungTraX Platform provides physicians with quantitative analysis tools including the StratX Lung Report to identify eligible patients and optimize treatment planning.

Pulmonx generates revenue primarily through direct sales in the United States, where it operates a dedicated sales organization focused on interventional pulmonologists and hospital systems. For the fiscal year ended December 31, 2025, the company generated revenue of $90.5 million with a gross margin of 74.2 percent. The company also maintains an international presence through both direct sales and distributor-based models across Europe and Asia Pacific, accounting for approximately five percent of revenue.

The company manufactures its products at its headquarters in Redwood City, California, where it maintains approximately 50,000 square feet of leased space. Pulmonx also develops the AeriSeal System, a synthetic polymer foam designed to address patients with collateral ventilation who are ineligible for Zephyr Valve treatment, which has received FDA Breakthrough Device designation and CE Mark approval in Europe. More than 150 scientific articles have been published documenting the clinical benefits of Zephyr Valves, with over 40,000 patients treated globally. The company's website is www.pulmonx.com.