Pulmonx Cuts Expenses Over 10% and Forecasts $90–92M Revenue in 2026
Pulmonx cut operating expenses by over 10%, secured a $60 million credit facility extending debt to 2031, and forecasts 2026 revenue of $90–92 million with cash burn reduced from $32M to $23M. CEO Glen French centralized U.S. sales under his leadership after turnover of half the team to rebuild momentum, targeting growth in H2 2026.
1. U.S. Sales Reorganization
Glen French has centralized U.S. sales under his direct oversight after turnover of roughly half the team in 2025. Reporting lines were simplified, focusing on fewer high-impact mandates and a near-to-far engagement model to rebuild customer continuity and ramp territories over six to nine months.
2. Cost Reduction and Financing
A cost restructuring cut ongoing operating expenses by more than 10%, while a $60 million credit facility—comprising a $40 million term loan and $20 million draw option—extends debt maturity to 2031. These actions aim to reduce annual cash burn from $32 million in 2025 to $23 million in 2026.
3. 2026 Financial Guidance
Pulmonx forecasts 2026 revenue of $90–92 million and expects U.S. sales growth to resume in the second half of the year. Adjustments to territory quotas and incentive plans revert to proven structures to better motivate the reorganized sales force.
4. Clinical Trials and Market Expansion
The company is prioritizing its AeriSeal system in the pivotal CONVERT II trial, targeting trial completion by 2027 and potential global TAM expansion of about 20%. LungTrax Detect is also being focused on larger hospital systems where all necessary elements are in place.