Q3 2024 Pulmonx Corp Earnings Call Transcript
Key Points
- Pulmonx Corp (LUNG) achieved worldwide sales of USD20.4 million, representing a 15% growth over the same period of the prior year.
- The company added 15 new accounts in the US in Q3, ending the quarter with 280 active accounts.
- Pulmonx Corp (LUNG) is piloting its Lung Track platform, which is designed to streamline customer workflows and identify patients eligible for Zephyr valves.
- The company reported a 150% increase in patient engagement through targeted direct-to-patient initiatives.
- Pulmonx Corp (LUNG) delivered international year-over-year revenue growth of 12% in Q3, fueled by recurring orders from a new distributor in China.
- Despite strong performance, Pulmonx Corp (LUNG) did not raise its sales guidance for the year, citing seasonality and conservatism.
- The company is not yet generating direct revenue from its Lung Track platform, and it will take time to integrate and launch it broadly.
- Operating expenses for the third quarter of 2024 were USD29.2 million, an increase of 3% over the prior year period.
- Pulmonx Corp (LUNG) reported a net loss for the third quarter of 2024 of USD14.1 million or a loss of 36¢ per share.
- The company anticipates that it will take time to grow widespread awareness of its new treatment option in Japan, with more material revenue contribution expected in 2026.
Good day. And thank you for standing by. Welcome to the Pulmonic third quarter, 2024 earnings conference call. At this time. All participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session to ask a question during the session. (Operator Instructions) I would now like to hand the conference over to your first speaker today, Elizabeth Baricio Investor relations. Please go ahead.
Good afternoon and thank you all for participating in today's call. Joining me from Harmonics 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 September 30th 2024. A copy of the press release is available on Pulmonx 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 security laws which are
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