Pulmonx Q3 2026 net loss narrows 40% to $8.39M
Full-year guidance pairs $90 million to $92 million in revenue with an expected cash decrease of approximately $22 million, assuming no additional credit-facility drawdowns.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
8-K
Rhea-AI Filing Summary
Pulmonx Corporation reported third-quarter 2026 revenue of $22.835 million, up 6.2% from $21.502 million a year earlier. U.S. revenue rose 6.8%, while international revenue rose 5.2%. International growth was tempered by no sales to its China distributor as Pulmonx restarts commercial activity following renewal of its Chinese registration certificate. Gross margin was 76%, versus 75% a year earlier.
Operating expenses were $24.889 million, down 18% from $30.445 million. Net loss narrowed 40% to $8.394 million, or $0.19 per share, from $13.957 million, or $0.34 per share. Adjusted EBITDA loss fell 57% to $3.528 million from $8.223 million. First-nine-month revenue was $66.177 million, down 2.5% from $67.899 million. Cash and cash equivalents were $52.690 million as of September 30, 2026.
For full-year 2026, Pulmonx expects revenue of $90 million to $92 million, gross margin of approximately 77%, and operating expenses of $108 million to $109 million, including approximately $14 million of non-cash stock-based compensation. It expects cash, cash equivalents and marketable securities to decrease approximately $22 million, assuming no additional drawdowns under its credit facility.
3 points · 0 major0 major · 0 points
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointWorldwide revenue increased 6.2% to $22.835 million year over year.
- Moderate pointNet loss narrowed 40% to $8.394 million in the third quarter.
- Moderate pointAdjusted EBITDA loss declined 57% to $3.528 million in the third quarter.
Negative
- None.
Insights
Analyzing...
8-K Event Classification
2 items: 2.02, 9.01
2 items
Item 2.02
Results of Operations and Financial Condition
Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Worldwide revenue: $22.835 million
Gross margin: 76%
Operating expenses: $24.889 million
+5 more
8 metrics
Worldwide revenue
$22.835 million
Third quarter 2026; up 6.2% from $21.502 million in the year-earlier quarter
Gross margin
76%
Third quarter 2026; compared with 75% in the year-earlier quarter
Operating expenses
$24.889 million
Third quarter 2026; down 18% from $30.445 million
Net loss
$8.394 million
Third quarter 2026; compared with $13.957 million in the year-earlier quarter
Adjusted EBITDA loss
$3.528 million
Third quarter 2026; 57% reduction from $8.223 million in the year-earlier quarter
Cash and cash equivalents
$52.690 million
As of September 30, 2026
Full-year revenue outlook
$90 million to $92 million
Full year 2026
Expected decrease in cash, cash equivalents and marketable securities
Approximately $22 million
Full year 2026, assuming no additional drawdowns under the credit facility
Key Terms
constant currency, Adjusted EBITDA, non-cash stock-based compensation, credit facility
4 terms
constant currency financial
"on a constant currency basis"
Constant currency is a way of measuring financial results that removes the effects of changes in currency exchange rates. It allows for a clearer comparison of a company's performance over time by showing what the numbers would look like if exchange rates had stayed the same. This helps investors understand whether growth comes from actual business improvements or just currency fluctuations.
Adjusted EBITDA financial
"Adjusted EBITDA loss was $3.5 million"
Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.
non-cash stock-based compensation financial
"approximately $14 million of non-cash stock-based compensation"
Non-cash stock-based compensation is pay given to employees or directors in the form of company shares or rights to buy shares instead of cash; it shows up on financial statements as an accounting charge even though no cash leaves the company. It matters to investors because it can lower reported profits and increase the number of shares outstanding—like paying with coupons instead of cash—affecting earnings per share and ownership dilution even though the company keeps its cash.
credit facility financial
"no additional drawdowns under the Company’s credit facility"
A credit facility is a flexible loan arrangement that allows a borrower to access funds up to a set limit whenever needed, similar to a company having an overdraft option on a bank account. It matters to investors because it indicates how easily a business can secure cash when required, affecting its ability to manage expenses, invest, or respond to financial challenges.
Earnings Snapshot
Worldwide revenue: $22.835 million · Guidance included
Third quarter ended September 30, 2026
Worldwide revenue
$22.835 million
Up 6.2% from $21.502 million in the year-earlier quarter
Gross margin
76%
Compared with 75% in the year-earlier quarter
Net loss
$8.394 million
Compared with $13.957 million in the year-earlier quarter
Adjusted EBITDA loss
$3.528 million
57% reduction from $8.223 million in the year-earlier quarter
Guidance
For full-year 2026, revenue of $90 million to $92 million, gross margin of approximately 77%, and operating expenses of $108 million to $109 million, including approximately $14 million of non-cash stock-based compensation. Cash, cash equivalents and marketable securities are expected to decrease approximately $22 million, assuming no additional drawdowns under the credit facility.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What was LUNG's revenue in the third quarter of 2026?
Pulmonx reported worldwide revenue of $22.835 million for the quarter ended September 30, 2026, up 6.2% from $21.502 million in the year-earlier quarter.
What is LUNG's full-year 2026 financial outlook?
Pulmonx expects full-year revenue of $90 million to $92 million, gross margin of approximately 77%, and operating expenses of $108 million to $109 million, including approximately $14 million of non-cash stock-based compensation. It expects cash, cash equivalents and marketable securities to decrease approximately $22 million, assuming no additional drawdowns under its credit facility.
AI-generated analysis. How Rhea-AI works. Not financial advice.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): October 27, 2026
(Exact name of Registrant as Specified in Its Charter)
| (State or Other Jurisdiction | (Commission File Number) | (IRS Employer | |||||||||
| of Incorporation) | Identification No.) | ||||||||||
| (Address of Principal Executive Offices) | (Zip Code) | ||||||||||
(650 )364-0400
Registrant's telephone number, including area code
Not Applicable
(Former name or former address, if changed since last report.)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On October 27, 2026, Pulmonx Corporation (the “Company”) issued a press release announcing its financial results for the third fiscal quarter ended September 30, 2026. A copy of the Company’s press release dated October 27, 2026, titled “Pulmonx Reports Third Quarter 2026 Financial Results” is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
The foregoing information (including the exhibit hereto) is being furnished under “Item 2.02 Results of Operations and Financial Condition” and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d)Exhibits.
| Exhibit No. | Description | |||||||
| 99.1 | Press release dated October 27, 2026 | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Pulmonx Corporation
Dated: October 27, 2026
| By: | /s/ Derrick Sung | ||||
| Derrick Sung, Ph.D. | |||||
| Chief Operating Officer and Chief Financial Officer | |||||
Exhibit 99.1
Pulmonx Reports Third Quarter 2026 Financial Results
Redwood City, CA - October 27, 2026 – Pulmonx Corporation (Nasdaq: LUNG) (“Pulmonx” or the “Company”), a global leader in minimally invasive treatments for lung disease, today reported financial results for the third quarter of 2026 ended September 30, 2026.
Recent Highlights
•Achieved worldwide revenue of $22.8 million in the third quarter of 2026, a 6% increase over the same period last year on both a GAAP and constant currency basis
•Delivered $14.9 million in U.S. revenue in the third quarter of 2026, representing a 7% year-over-year increase
•Delivered $7.9 million in international revenue in the third quarter of 2026, representing a 5% year-over-year increase and an increase of 6% on a constant currency basis; excluding China, year-over-year international revenue increased 9% on both a GAAP and constant currency basis
•Realized gross margin of 76% in the third quarter of 2026
•Demonstrated continued operating leverage from cost realignment efforts, reducing net loss by 40% and Adjusted EBITDA loss by 57% in the third quarter of 2026 as compared to the same period last year
“We are very pleased to have returned to year-over-year revenue growth in the third quarter. We continue to execute on our commercial strategy, advance our clinical initiatives, and deliver the operating leverage we expected,” said Glen French, President and Chief Executive Officer of Pulmonx. “With a fully staffed U.S. sales leadership team, a more focused global commercial team, and a realigned cost structure, we are confident in our ability to build on this momentum and deliver growth while advancing our longer-term strategic priorities.”
Third Quarter 2026 Financial Results
Total worldwide revenue in the third quarter of 2026 was $22.8 million, a 6% increase from $21.5 million in the third quarter of 2025 on both a GAAP and constant currency basis. U.S. revenue was $14.9 million, a 7% increase from the third quarter of 2025. International revenue was $7.9 million, a 5% increase compared to the third quarter of 2025, and a 6% increase on a constant currency basis. International revenue growth was tempered by an absence of sales to the Company’s distributor in China as we restart commercial activity in the region following the renewal of our Chinese registration certificate. Excluding China, international revenue grew 9% year-over-year on a GAAP and constant currency basis.
Gross profit in the third quarter of 2026 was $17.4 million, compared to $16.1 million for the third quarter of 2025. Gross margin for the third quarter of 2026 was 76%, compared to 75% for the same period in 2025.
Operating expenses in the third quarter of 2026 were $24.9 million, compared to $30.4 million for the third quarter of 2025, representing a decrease of 18%.
Net loss in the third quarter of 2026 was $8.4 million, or $0.19 per share, compared to a net loss of $14.0 million, or $0.34 per share, for the same period in 2025.
Adjusted EBITDA loss in the third quarter of 2026 was $3.5 million, a reduction of 57% as compared to adjusted EBITDA loss of $8.2 million for the same period in 2025.
Cash and cash equivalents totaled $52.7 million as of September 30, 2026.
2026 Financial Outlook
Pulmonx continues to expect revenue for the full year 2026 to be in the range of $90 million to $92 million.
The Company now expects gross margin for the full year 2026 to be approximately 77%.
Pulmonx now expects total operating expenses for the full year 2026 to fall within the range of $108 million to $109 million, inclusive of approximately $14 million of non-cash stock-based compensation.
The Company now expects cash, cash equivalents, and marketable securities to decrease by approximately $22 million for the full year 2026 assuming no additional drawdowns under the Company’s credit facility.
Webcast and Conference Call Details
Pulmonx will host a conference call today, October 27, 2026, at 1:30 p.m. PT / 4:30 p.m. ET to discuss its third quarter financial results. A live webcast of the conference call will be available on 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.
Use of Non-GAAP Financial Measures
To supplement Pulmonx’s condensed consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America, or GAAP, Pulmonx provides certain non-GAAP financial measures in this release as supplemental financial metrics. Non-GAAP financial measures reflect an additional way of viewing aspects of the Company’s operations that, when viewed with GAAP results, may provide a more complete understanding of factors and trends affecting Pulmonx’s business.
Constant currency calculations show reported current period revenues as if the foreign exchange rates remain the same as those in effect in the comparable prior year period. Pulmonx uses results on a constant currency basis as one measure to evaluate its performance. Pulmonx calculates constant currency by calculating current-year results using foreign currency exchange rates from the applicable comparable period in the prior year. Pulmonx generally refers to such amounts calculated on a constant currency basis as excluding the impact of foreign exchange or being on a constant currency basis. Pulmonx believes the presentation of results on a constant currency basis in addition to reported results helps improve investors’ ability to understand its operating results and evaluate its performance in comparison to prior periods. Pulmonx generally uses constant currency to facilitate management’s financial and operational decision-making, including evaluation of Pulmonx’s historical operating results.
The Company defines Adjusted EBITDA as earnings before interest income or expense, taxes, depreciation and amortization and stock-based compensation and may also exclude certain non-recurring, irregular or one-time items not reflective of our ongoing core business operations, such as impairment charges. Management believes that, in order to properly understand short-term and long-term financial trends, investors may wish to consider the impact of these excluded items in addition to GAAP measures. Further, management uses Adjusted EBITDA for strategic and annual operating planning. We believe these non-GAAP financial measures are useful as a supplement in evaluating our ongoing operational performance and enhancing an overall understanding of our past financial performance.
Reconciliation of these non-GAAP financial measures to the most comparable GAAP measures is set forth in the tables below.
The non-GAAP financial measures used by Pulmonx should be considered supplemental to, and not a substitute for, financial information prepared in accordance with GAAP. Because non-GAAP financial measures exclude the effect of items that increase or decrease the Company’s reported results of operations, management strongly encourages investors to review, when they become available, the Company’s consolidated financial statements and publicly filed reports in their entirety. The Company’s definition of non-GAAP measures may differ from similarly titled measures used by others.
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 ability to drive improvements in revenue growth, execute on our commercial strategy, advance our strategic priorities, and deliver operating leverage, our possible or assumed future results of operations, including long-term outlook, descriptions of our revenues, total operating expenses, gross margin, balances of cash, cash equivalents, and marketable securities, profitability, guidance for full year 2026, and overall business strategy. 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 4, 2026, 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 U.S. Food and Drug Administration (FDA) Premarket Approval (PMA) to
commercialize the Zephyr® Endobronchial 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®, LungTraX®, StratX®, and Zephyr® are registered trademarks of Pulmonx Corporation.
Investor Contact
Brian Johnston or Webb Campbell
Gilmartin Group
investors@pulmonx.com
Pulmonx Corporation
Consolidated Statements of Operations
(in thousands, except share and per share data)
(Unaudited)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||||||||||||
Revenue | $ | 22,835 | $ | 21,502 | $ | 66,177 | $ | 67,899 | ||||||||||||||||||
Cost of goods sold | 5,436 | 5,450 | 14,992 | 18,301 | ||||||||||||||||||||||
Gross profit | 17,399 | 16,052 | 51,185 | 49,598 | ||||||||||||||||||||||
Operating expenses | ||||||||||||||||||||||||||
Research and development | 4,864 | 4,846 | 14,797 | 14,908 | ||||||||||||||||||||||
Selling, general and administrative | 20,025 | 25,599 | 65,891 | 78,450 | ||||||||||||||||||||||
Total operating expenses | 24,889 | 30,445 | 80,688 | 93,358 | ||||||||||||||||||||||
Loss from operations | (7,490) | (14,393) | (29,503) | (43,760) | ||||||||||||||||||||||
Interest income | 345 | 611 | 1,024 | 2,198 | ||||||||||||||||||||||
Interest expense | (1,234) | (805) | (3,428) | (2,385) | ||||||||||||||||||||||
Other (expense) income, net | 136 | 758 | 212 | 809 | ||||||||||||||||||||||
Net loss before tax | (8,243) | (13,829) | (31,695) | (43,138) | ||||||||||||||||||||||
Income tax expense | 151 | 128 | 433 | 440 | ||||||||||||||||||||||
Net loss | $ | (8,394) | $ | (13,957) | $ | (32,128) | $ | (43,578) | ||||||||||||||||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.19) | $ | (0.34) | $ | (0.76) | $ | (1.08) | ||||||||||||||||||
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted | 43,176,913 | 40,936,896 | 42,519,134 | 40,444,001 | ||||||||||||||||||||||
Pulmonx Corporation
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
September 30, 2026 | December 31, 2025 | ||||||||||
Assets | |||||||||||
Current assets | |||||||||||
Cash and cash equivalents | $ | 52,690 | $ | 69,751 | |||||||
Restricted cash | 257 | 258 | |||||||||
Accounts receivable, net | 12,014 | 12,072 | |||||||||
Inventory | 15,436 | 15,845 | |||||||||
Prepaid expenses and other current assets | 3,664 | 3,758 | |||||||||
Total current assets | 84,061 | 101,684 | |||||||||
Long-term inventory | 3,793 | 3,604 | |||||||||
Property and equipment, net | 1,761 | 2,220 | |||||||||
Goodwill | 2,333 | 2,333 | |||||||||
Right of use assets | 17,039 | 18,028 | |||||||||
Other long-term assets | 1,225 | 1,422 | |||||||||
Total assets | $ | 110,212 | $ | 129,291 | |||||||
Liabilities and Stockholders' Equity | |||||||||||
Current liabilities | |||||||||||
Accounts payable | $ | 4,512 | $ | 3,905 | |||||||
Accrued liabilities | 14,555 | 14,556 | |||||||||
Income taxes payable | 171 | 263 | |||||||||
Deferred revenue | 12 | 18 | |||||||||
Short-term debt | 100 | 106 | |||||||||
Current lease liabilities | 1,389 | 1,210 | |||||||||
Total current liabilities | 20,739 | 20,058 | |||||||||
Deferred tax liability | 71 | 69 | |||||||||
Long-term lease liabilities | 17,145 | 18,059 | |||||||||
Long-term debt | 37,712 | 36,989 | |||||||||
Common stock warrant liability | 345 | — | |||||||||
Total liabilities | 76,012 | 75,175 | |||||||||
Stockholders' equity | |||||||||||
Common stock | 44 | 42 | |||||||||
Additional paid-in capital | 586,127 | 573,272 | |||||||||
Accumulated other comprehensive income | 1,715 | 2,360 | |||||||||
Accumulated deficit | (553,686) | (521,558) | |||||||||
Total stockholders' equity | 34,200 | 54,116 | |||||||||
Total liabilities and stockholders' equity | $ | 110,212 | $ | 129,291 | |||||||
Pulmonx Corporation
Reconciliation of Reported Revenue % Change to Constant Currency Revenue % Change
(in thousands, except percentages)
(Unaudited)
Three Months Ended September 30, | |||||||||||||||||||||||||||||
2026 | 2025 | % Change | FX Impact % | Constant Currency % Change | |||||||||||||||||||||||||
United States | $ | 14,911 | $ | 13,967 | 6.8 | % | — | % | 6.8 | % | |||||||||||||||||||
International | 7,924 | 7,535 | 5.2 | % | (0.7) | % | 5.9 | % | |||||||||||||||||||||
Total | $ | 22,835 | $ | 21,502 | 6.2 | % | (0.3) | % | 6.5 | % | |||||||||||||||||||
Three Months Ended September 30, | |||||||||||||||||||||||||||||
2026 | 2025 | % Change | FX Impact % | Constant Currency % Change | |||||||||||||||||||||||||
International | $ | 7,924 | $ | 7,535 | 5.2 | % | (0.7) | % | 5.9 | % | |||||||||||||||||||
less China | — | (234) | (100.0) | % | — | % | (100.0) | % | |||||||||||||||||||||
International excluding China | $ | 7,924 | $ | 7,301 | 8.5 | % | (0.8) | % | 9.3 | % | |||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||||||
2026 | 2025 | % Change | FX Impact % | Constant Currency % Change | |||||||||||||||||||||||||
United States | $ | 42,342 | $ | 42,919 | (1.3) | % | — | % | (1.3) | % | |||||||||||||||||||
International | 23,835 | 24,980 | (4.6) | % | 4.0 | % | (8.6) | % | |||||||||||||||||||||
Total | $ | 66,177 | $ | 67,899 | (2.5) | % | 1.5 | % | (4.0) | % | |||||||||||||||||||
Nine Months Ended September 30, | |||||||||||||||||||||||||||||
2026 | 2025 | % Change | FX Impact % | Constant Currency % Change | |||||||||||||||||||||||||
International | $ | 23,835 | $ | 24,980 | (4.6) | % | 4.0 | % | (8.6) | % | |||||||||||||||||||
less China | — | (4,014) | (100.0) | % | — | % | (100.0) | % | |||||||||||||||||||||
International excluding China | $ | 23,835 | $ | 20,966 | 13.7 | % | 4.8 | % | 8.9 | % | |||||||||||||||||||
Pulmonx Corporation
Reconciliation of Net Loss to Non-GAAP Adjusted EBITDA
(in thousands)
(Unaudited)
Three Months Ended September 30, | Nine Months Ended September 30, | ||||||||||||||||||||||
2026 | 2025 | 2026 | 2025 | ||||||||||||||||||||
GAAP Net loss | $ | (8,394) | $ | (13,957) | $ | (32,128) | $ | (43,578) | |||||||||||||||
Depreciation and amortization | 215 | 246 | 657 | 823 | |||||||||||||||||||
Stock-based compensation | 3,611 | 5,166 | 11,445 | 16,992 | |||||||||||||||||||
Interest (income)/expense, net | 889 | 194 | 2,404 | 187 | |||||||||||||||||||
Provision for income taxes | 151 | 128 | 433 | 440 | |||||||||||||||||||
Adjusted EBITDA | $ | (3,528) | $ | (8,223) | $ | (17,189) | $ | (25,136) | |||||||||||||||