Key Highlights

● Pulmonx reported third-quarter revenue of $22.8 million, up from a year ago.

● Its net loss narrowed to $8.4 million from $14.0 million.

● The company reiterated its 2026 revenue forecast.

● Its main product is the Zephyr Endobronchial Valve.

Pulmonx (NASDAQ:LUNG) jumped after the medical-device company said it had returned to revenue growth in the third quarter. The company reported revenue of $22.8 million, up from a year earlier, and its net loss narrowed to $8.4 million, or 19 cents a share, from $14.0 million a year ago.

Pulmonx reiterated its 2026 revenue forecast of $90 million to $92 million.

Back to Growth

The return to growth was the headline for investors. President and CEO Glen French said the company was very pleased to have returned to year-over-year revenue growth in the third quarter. For a small medical-device company, the direction of revenue matters a great deal, since a period of declining or flat sales can raise questions about demand and competition.

Pulmonx develops minimally invasive treatments for patients with severe emphysema, a form of chronic obstructive pulmonary disease. Its main product, the Zephyr Endobronchial Valve, is a small one-way valve placed in the airways to block airflow into diseased parts of the lung.

A Strong Day for Small-Cap Medtech

The procedure offers an option for patients who might otherwise face more invasive lung surgery, and Pulmonx also sells diagnostic tools that help doctors decide which patients are likely to benefit.

Several small-cap medical names rallied on results the same day, including OrthoPediatrics and Axogen, both of which raised their full-year forecasts.