Pulmonx (LUNG) Balance Sheet: Assets & Liabilities

Pulmonx (LUNG) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Pulmonx reported total assets of $129.29M and total liabilities of $75.17M. Shareholders' equity was $54.12M, down 36.9% from $85.81M a year earlier. Total debt stood at $37.09M against $69.75M in cash and short-term investments, a net cash position of $32.66M. That puts debt-to-equity at 0.69, compared with 0.43 a year earlier.

Pulmonx Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Pulmonx Corporation (LUNG) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018
Current Assets
Cash and Cash Equivalents	69.75	70.91	83.55	101.74	148.48	231.79	14.77	4.12
Short-Term Investments	0.00	30.58	33.56	39.40	31.56	0.00	13.58	0.00
Cash & Short-Term Investments	69.75	101.48	117.10	141.14	180.04	231.79	28.35	4.12
Accounts Receivable	12.07	13.12	13.02	8.68	6.56	4.57	6.00	3.42
Inventory	15.85	16.92	16.74	14.56	16.29	10.74	5.61	3.32
Other Current Assets	3.76	1.13	3.56	4.34	4.88	2.89	1.11	0.44
Total Current Assets	101.68	136.25	150.42	168.95	208.00	249.99	41.07	11.31
Non-Current Assets
Property, Plant & Equipment (Net)	20.25	21.45	7.43	10.50	12.89	10.45	7.46	0.38
Long-Term Investments	0.00	0.00	14.39	5.92	10.94	0.00	0.00	0.00
Goodwill	2.33	2.33	2.33	2.33	2.33	2.33	2.33	2.33
Intangible Assets	0.70	0.00	0.03	0.15	0.28	0.40	0.52	0.65
Other Non-Current Assets	1.42	2.82	3.17	0.53	0.73	0.54	2.14	0.35
Total Non-Current Assets	27.61	26.60	27.36	24.72	27.17	13.72	12.46	3.71
Total Assets	129.29	162.85	177.78	193.68	235.17	263.71	53.53	15.01
Current Liabilities
Accounts Payable	3.91	3.83	1.50	1.76	1.58	1.47	2.68	1.29
Short-Term Debt	0.11	3.18	5.23	0.09	0.09	2.24	0.45	0.00
Current Portion of Long-Term Debt	-	3.18	2.16	0.09	0.09	-	-	-
Accrued Liabilities	14.56	8.75	7.60	13.28	13.37	8.65	-	-
Deferred Revenue	0.02	0.14	0.10	0.12	0.16	0.07	0.17	0.14
Other Current Liabilities	0.26	0.05	16.23	0.02	0.15	8.65	9.87	5.91
Total Current Liabilities	20.06	24.44	23.16	18.49	17.55	12.53	14.16	8.07
Non-Current Liabilities
Long-Term Debt	36.99	34.00	36.20	17.23	17.32	24.99	226.71	33.61
Deferred Tax Liabilities	0.07	0.09	0.11	0.09	0.04	0.06	0.04	0.05
Other Non-Current Liabilities	0.07	0.09	0.00	0.09	0.22	0.00	0.00	140.61
Total Non-Current Liabilities	55.12	52.60	36.31	21.18	24.38	25.05	226.75	174.27
Total Liabilities	75.18	77.04	59.47	39.67	41.93	37.57	240.91	182.34
Stockholders' Equity
Common Stock	0.04	0.04	0.04	0.04	0.04	0.04	0.02	0.02
Retained Earnings	-521.56	-467.56	-411.16	-350.32	-291.40	-242.73	-210.50	-189.80
Accumulated Other Comprehensive Income	2.36	2.11	2.64	1.58	1.71	1.69	1.37	1.33
Additional Paid-in Capital	573.27	551.21	526.80	502.71	482.89	467.15	21.75	21.12
Shares Outstanding	41.67	39.79	38.52	37.56	36.93	-	-	-
Total Stockholders' Equity	54.12	85.81	118.32	154.01	193.24	226.13	-187.38	-167.33
Total Liabilities & Equity	129.29	162.85	177.78	193.68	235.17	263.71	53.53	15.01

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Pulmonx Balance Sheet

How much debt does Pulmonx have?

Pulmonx had total debt of $37.09M as of Dec 31, 2025, against $69.75M in cash and short-term investments. Its debt-to-equity ratio was 0.69. Total debt was $37.18M a year earlier.

What are Pulmonx's total assets?

Pulmonx reported total assets of $129.29M as of Dec 31, 2025, down 20.6% from $162.85M a year earlier. Total liabilities were $75.17M.

What is Pulmonx's shareholders' equity?

Pulmonx's shareholders' equity was $54.12M as of Dec 31, 2025, or about $1.30 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition