Pulmonx Reinstates CEO, Signals Turnaround as Q3 Revenue Forecast Emerges

Ticker: LUNG. In a move both practical and theatrical, Pulmonx Corporation released Exhibit 99.1 detailing a leadership transition and a preliminary revenue forecast for the third quarter of 2025. The document flags an expectation that investors will parse EPS and the EPS consensus in the upcoming earnings call, while watching for any earnings surprise relative to street estimates. The news raises questions about how the company will fund and execute its turnaround, and what this means for peers in the interventional pulmonology space.

Leadership reshuffle: a return cast in a familiar role

The press release confirms a return-to-form leadership move: Glen French, a former Pulmonx President and Chief Executive Officer, is reappointed as President and CEO, effective immediately. Derrick Sung, previously the Chief Financial Officer, is named Chief Operating Officer and CFO. In a nod to continuity, Steve Williamson and Mehul Joshi have resigned from their roles but will serve in advisory capacities through December 1, 2025 to ensure a smooth transition. The company emphasizes that the resignations are not tied to any disagreement with the company on operational, policy, or financial matters.

In classic corporate governance fashion, the Board is betting that bringing back a familiar executive team can stabilize strategy, align operational execution with capital allocation, and set a clear path for the years ahead. The cadence and details of how Messrs. French and Sung will interact with the broader investor relations and clinical development teams will be watched as a proxy for execution risk—a factor that often weighs on small-cap healthcare names when leadership shifts occur.

Financial snapshot: a preliminary third-quarter revenue signal

Pulmonx also disclosed that preliminary, unaudited total worldwide revenue for the third quarter of 2025 is expected to be approximately $21.5 million. While the number gives a direction, it is important to remember it is a forecast, not a formal earnings result. The company plans to issue full Q3 2025 financial results after the close on Wednesday, November 12, 2025, followed by a conference call at 1:30 p.m. PT / 4:30 p.m. ET the same day.

The press release emphasizes that the revenue figure is preliminary and subject to revision as the company finalizes its books. For investors, that means the real test will be in the details of the full results, including gross margins, operating expenses, and the calculation of earnings per share (EPS). As with many early-stage or high-visibility healthcare companies, EPS alignment with consensus expectations will be a focal point for the stock’s reaction in the days following the release.

Forward-looking statements and what to watch next

The document includes the standard forward-looking statements caveat, reminding readers that actual results may differ due to a range of factors. Investors should parse not only the reported numbers but also management’s commentary on cost structure, R&D and commercialization plans, and the outlook for the third-quarter earnouts in a post-pandemic, capex-conscious healthcare environment.

What this could portend for Pulmonx and peers

A leadership refresh at a specialized medical-devices company like Pulmonx can reset incentives around product rollout, partnerships, and cost discipline. The combination of a returning CEO and a new CFO/COO is a signal that the Board aims to re-center strategy around execution risk management, governance, and perhaps an adjusted view of near-term profitability. For investors, the key questions are whether the refreshed leadership can translate the $21.5 million quarterly revenue forecast into sustainable top-line growth and improved margins, and whether EPS can converge toward or exceed the expectations baked into the stock price.

In the broader sector, such moves can influence sentiment toward peers by underscoring the importance of stable leadership during a period of significant transition—particularly when a small cap hinges on disciplined capital allocation and a clear path to profitability. Analysts will be listening for any shifts in product focus, capital expenditure plans, and the timing of new clinical or commercial milestones that could alter the earnings trajectory and, by extension, the earnings surprise risk profile.

Conclusion: stakes, signals, and the quiet math of a comeback

Pulmonx’s Exhibit 99.1 lays out a concrete plan: reestablish leadership, provide a near-term revenue checkpoint, and preserve continuity through a careful advisory phase. The stock’s immediate reaction will hinge on how the new/returning leadership frames its path to EPS realization, whether the company can maintain or accelerate the revenue forecast, and how costs are managed as the company navigates this transition. For market watchers, the event serves as a reminder that governance quality and strategic clarity can be as consequential as the quarterly numbers themselves, especially when embedded in a narrative about turning the page.

As always, the coming earnings call will be the moment of truth for EPS dialogue, revenue cadence, and the integrity of management’s longer-term guidance. Until then, investors will be calculating the implied EPS consensus from the narrative and the preliminary revenue signal, setting up what could be a pivotal quarter for LUNG and its peers in the evolving landscape of interventional pulmonology.