Q2 2024 Pulmonx Corp Earnings Call Transcript
Key Points
- Pulmonx Corp (LUNG) achieved a record quarter with $20.8 million in worldwide sales, representing 21% growth over the same period of the prior year.
- US revenue saw a significant increase of 26% compared to the second quarter of 2023.
- The company added 17 new accounts in the United States, ending the quarter with 267 active accounts.
- Pulmonx Corp (LUNG) is launching the Lung Tracked Connect program, an automation software to streamline patient workflows and reduce time to treatment.
- The company remains confident in its ability to deliver on the previously communicated revenue guidance of $81 million to $84 million for the full year 2024.
- Total operating expenses for the second quarter of 2024 were $30.9 million, an increase of 6% over the prior year period.
- Net loss for the second quarter of 2024 was $15.3 million, or a loss of $0.39 per share.
- International revenue growth was slower at 12% compared to the US growth rate.
- The company anticipates it will take time to grow widespread awareness of Zephyr Valves in Japan, with no material revenue contribution expected until approximately 2026.
- Gross margin for the second quarter of 2024 was flat at 74%, reflecting lower utilization.
Ladies and gentlemen, thank you for standing by. Welcome to the Pulmonx second-quarter 2024 earnings conference call. At this time, all participants are in a listen-only mode. After the speakerâs presentation, there will be a question-and-answer session. (Operator Instructions) Please be advised that today's conference is being recorded.
I would now like to turn the conference over to Elizabeth Sparicio, Investor Relations. Please go ahead.
Good afternoon, and thank you all for participating in today's call. Joining me from Pulmonx are Steve Williamson, President and Chief Executive Officer; and Mehul Joshi, Chief Financial Officer. Earlier today, Pulmonx issued a press release announcing its financial results for the quarter ended June 30, 2024. A copy of the press release is available on Pulmonx's website.
Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws,
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