Pulmonx Corporation Announces Leadership Transition and Preliminary Third Quarter 2025 Revenue Estimates

Pulmonx announces leadership changes, preliminary Q3 2025 revenue of $21.5 million, and rescheduled financial results release.

Quiver AI Summary

Pulmonx Corporation has announced the reappointment of Glen French as President and CEO, and the appointment of Derrick Sung as Chief Operating Officer and Chief Financial Officer, effective November 3, 2025. This follows the immediate resignation of Steve Williamson and Mehul Joshi from their positions, although they will assist in advisory roles until December 1, 2025. The company expects to report preliminary third quarter 2025 revenue of approximately $21.5 million and has rescheduled its financial results announcement for November 12, 2025, complemented by a conference call to discuss the transition and results. The Board expressed confidence in the new leadership to drive value for stakeholders while thanking the outgoing executives for their contributions.

Potential Positives

Glen French has been reappointed as President and Chief Executive Officer, bringing over 25 years of experience in interventional pulmonology, which may enhance leadership stability.
Preliminary revenue for the third quarter of 2025 is expected to be approximately $21.5 million, indicating potential growth and financial health.
The company is set to host a conference call to discuss financial results and management transition, promoting transparency and stakeholder engagement.

Potential Negatives

Resignation of key executives Steve Williamson and Mehul Joshi may signal instability within the company, potentially affecting stakeholder confidence.
Preliminary revenue estimate of approximately $21.5 million raises concerns about financial performance and may indicate challenges in achieving growth targets.
Management transitions could disrupt ongoing operations and strategic initiatives while new leadership acclimates to their roles.

FAQ

Who has been reappointed as CEO of Pulmonx?

Glen French has been reappointed as President and Chief Executive Officer of Pulmonx, effective immediately.

What position has Derrick Sung been appointed to?

Derrick Sung has been appointed as Chief Operating Officer and Chief Financial Officer, effective November 3, 2025.

What is the expected revenue for Pulmonx in Q3 2025?

The preliminary, unaudited revenue for the third quarter of 2025 is expected to be approximately $21.5 million.

When will Pulmonx release its Q3 2025 financial results?

Pulmonx plans to release its Q3 2025 financial results after the close of trading on November 12, 2025.

How can investors join the conference call about the financial results?

Investors can join the conference call on November 12, 2025, at 1:30 p.m. PT by accessing the webcast on Pulmonx’s Investor Relations website.

Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.

$LUNG Insider Trading Activity

$LUNG insiders have traded $LUNG stock on the open market 28 times in the past 6 months. Of those trades, 1 have been purchases and 27 have been sales.

Here’s a breakdown of recent trading of $LUNG stock by insiders over the last 6 months:

DANIEL P FLORIN purchased 23,321 shares for an estimated $71,362
DAVID AARON LEHMAN (GENERAL COUNSEL) has made 0 purchases and 9 sales selling 20,226 shares for an estimated $48,366.
STEVEN S. WILLIAMSON (PRESIDENT AND CEO) has made 0 purchases and 4 sales selling 19,571 shares for an estimated $46,495.
MEHUL JOSHI (Chief Financial Officer & PAO) has made 0 purchases and 4 sales selling 15,997 shares for an estimated $37,928.
GEOFFREY BERAN ROSE (CHIEF COMMERCIAL OFFICER) has made 0 purchases and 9 sales selling 13,490 shares for an estimated $32,216.
RICHARD FERRARI sold 8,000 shares for an estimated $25,280

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$LUNG Hedge Fund Activity

We have seen 56 institutional investors add shares of $LUNG stock to their portfolio, and 62 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

DEERFIELD MANAGEMENT COMPANY, L.P. removed 1,575,901 shares (-45.5%) from their portfolio in Q2 2025, for an estimated $4,081,583
FMR LLC removed 1,156,888 shares (-21.4%) from their portfolio in Q2 2025, for an estimated $2,996,339
MILLENNIUM MANAGEMENT LLC added 958,048 shares (+459.5%) to their portfolio in Q2 2025, for an estimated $2,481,344
GSA CAPITAL PARTNERS LLP added 423,725 shares (+inf%) to their portfolio in Q2 2025, for an estimated $1,097,447
BANK OF AMERICA CORP /DE/ added 407,971 shares (+556.6%) to their portfolio in Q2 2025, for an estimated $1,056,644
FRANKLIN RESOURCES INC removed 357,936 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $927,054
ESSEX INVESTMENT MANAGEMENT CO LLC removed 303,246 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $785,407

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$LUNG Analyst Ratings

Wall Street analysts have issued reports on $LUNG in the last several months. We have seen 4 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

D. Boral Capital issued a "Buy" rating on 09/08/2025
Lake Street issued a "Buy" rating on 07/31/2025
Stifel issued a "Buy" rating on 07/31/2025
Canaccord Genuity issued a "Buy" rating on 05/01/2025

To track analyst ratings and price targets for $LUNG, check out Quiver Quantitative's $LUNG forecast page.

$LUNG Price Targets

Multiple analysts have issued price targets for $LUNG recently. We have seen 7 analysts offer price targets for $LUNG in the last 6 months, with a median target of $5.0.

Here are some recent targets:

Jason Kolbert from D. Boral Capital set a target price of $16.0 on 09/08/2025
Larry Biegelsen from Wells Fargo set a target price of $3.0 on 08/01/2025
Rick Wise from Stifel set a target price of $5.0 on 07/31/2025
Frank Takkinen from Lake Street set a target price of $8.0 on 07/31/2025
Jason Bednar from Piper Sandler set a target price of $2.5 on 07/31/2025
Joanne Wuensch from Citigroup set a target price of $4.15 on 05/22/2025
Jon Young from Canaccord Genuity set a target price of $15.0 on 05/01/2025

Full Release

Glen French, member of the Board of Directors and former Pulmonx President and Chief Executive Officer, reappointed President and Chief Executive Officer
Derrick Sung, former Pulmonx Chief Financial Officer, appointed Chief Operating Officer and Chief Financial Officer
Steve Williamson and Mehul Joshi have resigned from their respective roles at the Company, effective immediately
Preliminary, unaudited third quarter 2025 revenue expected to be approximately $21.5 million
Third quarter 2025 financial results rescheduled to be released after the close of trading on Wednesday, November 12, 2025; Management to host conference call to discuss the results and the transition at 1:30 p.m. PT / 4:30 p.m. ET. on the same date

REDWOOD CITY, Calif., Oct. 27, 2025 (GLOBE NEWSWIRE) -- Pulmonx Corporation (Nasdaq: LUNG) (“Pulmonx” or the "Company"), a global leader in minimally invasive treatments for lung disease, today announced the reappointment of Glen French as President and Chief Executive Officer, effective immediately, and the appointment of Derrick Sung as Chief Operating Officer and Chief Financial Officer, effective November 3, 2025. Concurrently, Steve Williamson and Mehul Joshi have resigned from their respective roles at the Company to pursue other opportunities. Both Mr. Williamson and Mr. Joshi will serve in advisory capacities through December 1, 2025, to ensure a smooth transition. Mr. Williamson and Mr. Joshi’s resignations are not due to any disagreement with the Company on any matter, including related to the Company’s operations, policies, practices, financial reporting, or controls.

The Company also announced preliminary revenue for the third quarter of 2025 and provided updated timing for the release of its third quarter 2025 financial results and accompanying conference call.

“The Board is confident in our decision to bring Glen and Derrick back into these leadership roles,” said Dana G. Mead, Jr., Chairperson of the Company’s Board. “We fully expect that their deep operational experience and strategic clarity will ensure the success and stability our stakeholders expect. With over twenty-five years of experience in interventional pulmonology, including a decade as CEO of Pulmonx, Glen is ideal to lead the company into our next chapter, and we are pleased with his decision to return. On behalf of the Board, I would also like to thank Steve and Mehul for their efforts and wish them success in their future endeavors.”

“I am excited to return to lead the team at Pulmonx in its efforts to improve the lives of the many patients with severe emphysema,” said Glen French, President and Chief Executive Officer of Pulmonx. “I am confident that there is a significant value creation opportunity for all our stakeholders, and I look forward to working with Derrick and the entire Pulmonx team to ensure that we are delivering results for our customers and their patients while also taking a renewed focus on creating value for our shareholders.”

Preliminary, Unaudited Third Quarter 2025 Revenue
Total worldwide revenue for the third quarter of 2025 is anticipated to be approximately $21.5 million.

The Company plans to provide further details on its third quarter results and full year outlook during its third quarter 2025 earnings call rescheduled for November 12, 2025.

The preliminary, unaudited revenue results described in this press release are estimates only and are subject to revision until the Company reports its full financial results for the quarter ended September 30, 2025.

Webcast and Conference Call Details
Pulmonx will host a conference call on November 12, 2025, at 1:30 p.m. PT / 4:30 p.m. ET to discuss the management transition and its third quarter financial results. A live webcast of the conference call will be available within the Investor Relations section of the Company's website at https://investors.pulmonx.com/ . The webcast will be archived on the website following the completion of the call.

Forward-Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management’s current assumptions and expectations of future events and trends, which affect or may affect our strategy, operations or financial performance, and actual results may differ materially from those expressed or implied in such statements due to numerous risks and uncertainties. These forward-looking statements include, but are not limited to, statements regarding our possible or assumed future results of operations, including long-term outlook, descriptions of our revenues, guidance for full year 2025, overall business strategy, and creation of shareholder value. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Factors that could cause actual results to differ materially from those contemplated in this press release can be found in the Risk Factors section of Pulmonx’s public filings with the Securities and Exchange Commission (“SEC”), including the Quarterly Report on Form 10-Q filed with the SEC on August 1, 2025, available at www.sec.gov. Because forward-looking statements are inherently subject to risks and uncertainties, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical fact are forward-looking statements. Except to the extent required by law, we undertake no obligation to update or review any estimate, projection, or forward-looking statement. Actual results may differ from those set forth in this press release due to the risks and uncertainties inherent in our business.

About Pulmonx Corporation
Pulmonx Corporation (Nasdaq: LUNG) is a global leader in minimally invasive treatments for chronic obstructive pulmonary disease (COPD). Pulmonx’s Zephyr ^® Endobronchial Valve, Chartis ^® Pulmonary Assessment System, LungTraX™ Platform, and StratX ^® Lung Analysis Reports are designed to assess and treat patients with severe emphysema/COPD who despite medical management are still profoundly symptomatic. Pulmonx received FDA pre-market approval to commercialize the Zephyr Valve following its designation as a “breakthrough device.” The Zephyr Valve is commercially available in more than 25 countries, is included in global treatment guidelines and is widely considered a standard of care treatment option for improving breathing, activity and quality of life in patients with severe emphysema. For more information on the Zephyr Valves and the company, please visit www.Pulmonx.com .

Pulmonx ^® , AeriSeal ^® , Chartis ^® , StratX ^® , and Zephyr ^® are registered trademarks and LungTraX™ is a trademark of Pulmonx Corporation.

Investor Contact
Brian Johnston
Laine Morgan
Gilmartin Group
[email protected]