Pulmonx Q4 Earnings Call Highlights: Management Outlines Causes of US Underperformance and Plans for Growth

Pulmonx reported U.S. underperformance in 2025 due to internal operational and executional challenges, including disruptive territory changes and incentive design. The company completed a cost restructure, secured a $60 million credit facility, and expects to reduce annual cash burn from $32M in 2025 to $23M in 2026. Pulmonx is focusing on rebuilding U.S. momentum and advancing clinical programs to expand its total addressable market. The company expects U.S. growth to resume in the back half of 2026.