Business
Pulmonx Reports Fourth Quarter and Full Year 2022 Financial Results
REDWOOD CITY, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Pulmonx Corporation (Nasdaq: LUNG) (“Pulmonx” or the "Company"), a global leader in minimally invasive
About this update from Pulmonx Corporation
[{"type":"text","content":"REDWOOD CITY, Calif., Feb. 22, 2023 (GLOBE NEWSWIRE) -- Pulmonx Corporation (Nasdaq: LUNG) (“Pulmonx” or the \"Company\"), a global leader in minimally invasive treatments for lung disease, today reported financial results for the fourth quarter and full year of 2022 ended December 31, 2022. Recent Highlights Delivered $53.7 million in worldwide revenue for the full year of 2022Achieved record worldwide revenue of $15.4 million for the fourth quarter of 2022, a 13% increase over the same period last year and an increase of 18% in constant currencySet a new record of $32.5 million and $9.5 million in U.S. revenue for the full year 2022 and the fourth quarter 2022, respectively, each representing 30% year-over-year growthRealized gross margin of 73% in the fourth quarter of 2022 and 74% for the full year of 2022Added 17 new U.S. treatment centers for Zephyr Valves in the fourth quarter 2022, increasing total U.S. treatment centers to 278 “We continued to build momentum through 2022, finishing the year and fourth quarter with record worldwide and U.S. sales,” said Glen French, President & Chief Executive Officer. “Further, we are making early progress with our refocused commercial strategy designed to boost workflow efficiencies across our account base.” Mr. French continued, “We remain confident in our ability to execute on our commercial and clinical objectives to fuel long-term growth. Our team is working diligently to drive Zephyr Valve awareness and adoption, as we also prepare for a successful commercial launch in Japan later this year and continue to advance our AeriSeal clinical development program toward commencing our U.S. clinical trial.” Fourth Quarter 2022 Financial ResultsTotal worldwide revenue in the fourth quarter of 2022 was $15.4 million, a 13% increase from $13.7 million in the fourth quarter of 2021 and an increase of 18% on a constant currency basis. U.S. revenue was $9.5 million, a 30% increase from the fourth quarter of 2021. International revenue was $6.0 million, a 7% decrease compared to the fourth quarter of 2021, and a 5% increase on a constant currency basis. The increase in U.S. revenue reflects continued commercial momentum and adoption of Zephyr Valve procedures as we move into a more stabilized environment, while international revenue reflects negative impact from foreign currency exchange rates as...