Pulmonx Corp Q2 revenue falls, but beats estimates

The current average analyst rating on the shares is "buy", with a breakdown of 3 strong buy or buy, 2 hold, and no sell or strong sell ratings.

The average consensus recommendation for the medical equipment, supplies and distribution peer group is "buy". Wall Street's median 12-month price target for Pulmonx Corp is $3.00, about 140% above its July 28 closing price of $1.25.

Pulmonx Corp said second-quarter revenue fell 5% year over year, but beat analyst expectations. The US lung disease device maker reported revenue of $22.76 million, compared with consensus estimates of $22.40 million from five analysts.

Net loss for the quarter narrowed 34% year over year as cost realignment reduced expenses. Pulmonx reported a Q2 net loss of $10.08 million and loss per share of $0.24.

International revenue declined due to a lack of sales into China as the company awaited registration renewal. Excluding China, international revenue grew 12%.