LUNG — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-04

• Comparison of the Three Months Ended March 31, 2026 and March 31, 2025

• Revenue decreased by $2.0 million, or 8.7%, to $20.6 million for the three months ended March 31, 2026, compared to $22.5 million for the three months ended March 31, 2025. The sale of products in the United States decreased by $0.9 million to $13.3 million for the three months ended March 31, 2026,…

• Cost of goods sold decreased by $1.7 million, or 26.7%, to $4.5 million for the three months ended March 31, 2026, compared to $6.2 million for the three months ended March 31, 2025. The decrease was mainly due to a decrease in the number of products sold and as a result decreased manufacturing cost…

• 77.9% for the three months ended March 31, 2026, compared to 72.5% for the three months ended March 31, 2025. The increase in gross margin was primarily due to geographic mix during the three months ended March 31, 2026.

• Interest expense increased by $0.2 million to $1.0 million for the three months ended March 31, 2026 compared to $0.8 million for the three months ended March 31, 2025, primarily due to higher interest rates under our Perceptive Loan compared to our CIBC Loan which was fully repaid in March 2026. In…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• overall manufacturing costs. However, other factors will continue to impact our gross margins such as geographic mix, pricing and customer discounts, incentives, support services and potential seasonality.

• overall market conditions. We expect cost of goods sold to increase in absolute dollars to the extent more of our products are sold.

• Comparison of the Three Months Ended September 30, 2025 and September 30, 2024

• Revenue increased by $1.1 million, or 5.5%, to $21.5 million during the three months ended September 30, 2025, compared to $20.4 million during the three months ended September 30, 2024. The sale of products in the United States increased by $0.2 million to $14.0 million during the three months ende…

• Cost of goods sold increased by $0.1 million, or 1.7%, to $5.5 million during the three months ended September 30, 2025, compared to $5.4 million during the three months ended September 30, 2024. Gross margin was 74.7% during the three months ended September 30, 2025, compared to 73.7% during the th…

Text added vs the prior filing · source: 10-Q · 2026-05-04

• may not be successful. Actions taken by us or the third parties with whom we work to detect, investigate, mitigate, contain, and remediate a security incident could result in outages, data losses, and disruptions of our business. Threat actors may also gain access to other networks and systems after…

• While we have implemented security measures designed to protect against security incidents, there can be no assurance that these measures will be effective. The reliability and continuous availability of our LungTraX Platform

• is critical to our success. However, software such as ours, or that of third parties that we utilize within the LungTraX Platform, can contain errors, defects, security vulnerabilities or software bugs that are difficult to detect and correct, particularly when such vulnerabilities are first introdu…

• Moreover, a disruption in access to the system that controls the LungTraX Platform would prevent physicians using our solution from receiving the StratX Lung Report indicating whether their patients are good candidates for the

• Zephyr Valve. In the event we experience significant disruptions, we may be unable to repair our systems in an efficient and timely manner. Accordingly, such events may disrupt or reduce the efficiency of our entire operation and negatively affect our business, financial condition, and results of op…

Text removed vs the prior filing · source: 10-Q · 2025-11-12

• (including our clinical trial activities) to try to protect against security incidents. Certain data privacy and information security obligations may require us to implement and maintain specific security measures or industry-standard or reasonable security measures to protect our information techno…

• The reliability and continuous availability of our LungTraX Platform is critical to our success. However, software such as ours, or that of third parties that we utilize within the LungTraX Platform, can contain errors, defects, security vulnerabilities or software bugs that are difficult to detect …

• customers fail to use our platform according to our specifications, our customers may suffer a security incident on their own systems or other adverse consequences. Even if such an incident is unrelated to our security practices, it could result in our incurring of significant economic and operation…

• Moreover, a disruption in access to the system that controls the LungTraX Platform would prevent physicians using our solution from receiving the StratX Lung Report indicating whether their patients are good candidates for the Zephyr Valve. In the event we experience significant disruptions, we may …

• on complex information technology to manage our infrastructure. Our information systems require an ongoing commitment of significant resources to maintain, protect and enhance our existing systems. Failure to maintain or protect our information systems and data integrity effectively could negatively…