Pulmonx (LUNG) Q2 Earnings call transcript Jul 31, 2024
AInvestThursday, Aug 1, 2024 4:23 pm ET
1min read
LUNG --

Pulmonx, a leading medical device company focused on treating severe emphysema and chronic obstructive pulmonary disease (COPD), reported a record quarter of $20.8 million in worldwide sales for Q2 2024, marking a 21% year-over-year growth. The company's robust financial performance was driven by the success of its commercial strategy in the United States and the ongoing expansion of its international footprint.

Strategic Commercial Strategy Yields Strong Results

Pulmonx's commercial strategy, which includes physician training, workflow automation, and building local awareness, has been instrumental in driving growth. The company added 17 new accounts in the US during Q2, ending the quarter with 267 active accounts, demonstrating a strong pipeline and commitment to increasing patient access to its innovative treatments. The focus on expanding in high-performing centers and optimizing workflows has resulted in improved efficiency and capacity, positioning Pulmonx well for future growth.

International Markets Show Promise

Pulmonx's international business continued to show promise, with a 12% year-over-year revenue growth, driven by the successful implementation of sales tools and initiatives in Europe and the launch of AeriSeal in Japan. The company's strategy to adapt its US commercial strategies for international markets is expected to drive further growth in the coming quarters.

Innovation and Clinical Trials

On the clinical front, Pulmonx's AeriSeal clinical development program is making significant strides, with the first US case in the CONVERT 2 pivotal trial marking a critical step towards broader commercialization. The company is also actively participating in various scientific meetings, showcasing new data and collaborating with key opinion leaders to advance the understanding and application of its innovative treatments.

Looking Ahead

With a strong financial performance and a clear focus on innovation, Pulmonx is well-positioned for continued growth. The company remains committed to its strategic initiatives, including expanding its global footprint, improving workflow efficiencies, and advancing long-term clinical research. Pulmonx's reaffirmed guidance for full-year 2024 revenue, gross margin, and operating expenses reflects its confidence in these initiatives and its ability to navigate market dynamics.

In conclusion, Pulmonx's second-quarter performance underscores its strategic focus and execution capabilities. With a clear path forward, Pulmonx is well-positioned to capitalize on the significant market opportunity in severe emphysema and COPD treatment, enhancing patient lives and driving shareholder value.

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