The following is a summary of the Pulmonx Corporation (LUNG) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Pulmonx reported Q1 2024 sales of $18.9 million, a 30% increase from the same period last year. The U.S business contributed $12.9 million, reflecting a 38% increase year-over-year. International revenue saw a 15% increase year-over-year, reaching $6.0 million. Pulmonx recorded a gross margin of 75%, up from 73% the previous year, with a net loss reported as $13.7 million or $0.36 per share. The Adjusted EBITDA loss improved from $11.2 million in Q1 2023 to $8 million.

Business Progress:

• Pulmonx added nine new Zephyr Valve centers in the U.S in Q1 2024, expanding the total to 346. Encouraging developments have been recorded in the European expansion. The first patient treatment in a Japanese post-market approval study marks progress towards broader commercialization in Japan. FDA approval was received for an IDE pivotal trial for Zephyr Valves. The company maintains liquid assets of $120.4 million as of March end and forecasts full-year revenue and gross margin for 2024 to be in the range of $81 to $84 million and 74% to 75% respectively. Growth, efficiency, and operational improvements are the focus of their strategy, complemented by an innovation pipeline and the potential for enhanced market reach.

More details: Pulmonx IR

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