Pulmonx (LUNG) Stock Forecast & Price Target

Pulmonx Corp is positioned for robust growth, with anticipated revenue acceleration beginning in 2026, while international sales remain strong even amid short-term tariff challenges in China. The company has reaffirmed a substantial gross margin guidance of 74% for 2025, coupled with controlled operating expenses projected between $128 million and $130 million, demonstrating effective resource management and focus on enhancing revenue-generating activities. Additionally, Pulmonx aims to capitalize on clinical initiatives like the AeriSeal convert trial and AI-driven tools to broaden patient identification, thereby driving sustained adoption and long-term value.

Pulmonx Corp's Q3 revenue of approximately $21.5 million indicates a sequential decline from Q2's $23.9 million, reflecting a slower growth trajectory that led to a downward adjustment of the annual revenue guidance to $90 million–$92 million. This decline in revenue, combined with a decrease in gross margins, which stood at 72% in Q2, raises concerns about the company's ability to maintain top-line growth and execution efficiency in its product models. Furthermore, the recent management transition, with the reappointment of Glen French as CEO and the appointment of Derrick Sung as COO/CFO, adds an additional layer of uncertainty regarding strategic direction and operational stability.