Pulmonx brings back former CEO amid leadership shakeup

REDWOOD CITY, Calif. - Pulmonx Corporation (NASDAQ:LUNG), currently trading at $1.56 and down nearly 75% over the past year, announced Monday the immediate reappointment of Glen French as President and Chief Executive Officer, replacing Steve Williamson who has resigned to pursue other opportunities.

The minimally invasive lung disease treatment company, with a market capitalization of $65 million, also appointed former Chief Financial Officer Derrick Sung to serve as both Chief Operating Officer and CFO, effective November 3, 2025. According to InvestingPro, four analysts have recently revised their earnings expectations downward for the upcoming period.

Both Williamson and Chief Financial Officer Mehul Joshi have resigned effective immediately but will serve in advisory capacities through December 1 to facilitate the transition. The company stated these departures were not due to any disagreements regarding operations, policies, or financial reporting.

"We fully expect that their deep operational experience and strategic clarity will ensure the success and stability our stakeholders expect," said Dana G. Mead, Jr., Chairperson of Pulmonx’s Board, referring to the returning executives.

French, who previously served as CEO for a decade and remained on the company’s Board of Directors, expressed confidence in creating value for stakeholders while focusing on patients with severe emphysema.

Pulmonx also released preliminary third quarter 2025 revenue figures of approximately $21.5 million, contributing to its 18% year-over-year revenue growth. The company has rescheduled its full financial results release to November 12, 2025. InvestingPro analysis indicates the stock is currently undervalued, despite maintaining a strong current ratio of 5.35 and holding more cash than debt on its balance sheet. Discover more insights about LUNG and 1,400+ other stocks with InvestingPro’s comprehensive research reports.

The company specializes in minimally invasive treatments for chronic obstructive pulmonary disease (COPD), with its Zephyr Endobronchial Valve system having received FDA breakthrough device designation and pre-market approval. The technology is currently available in more than 25 countries. Despite maintaining a healthy gross profit margin of 73%, the company faces near-term profitability challenges, as revealed in detailed analysis available on InvestingPro.

This information is based on a press release statement from the company.

In other recent news, Pulmonx Corp reported its second-quarter 2025 earnings, showing a net loss of $0.38 per share, which was slightly better than analysts’ expectations of a $0.40 loss. The company’s revenue for the quarter was $23.9 million, exceeding the anticipated $23.47 million. Despite the revenue beat, Piper Sandler downgraded Pulmonx from Overweight to Neutral, citing growth concerns in its U.S. business. The research firm also significantly lowered its price target for the company from $9.00 to $2.50. Piper Sandler expressed doubts about Pulmonx’s ability to achieve 15-20%+ top-line growth, noting six consecutive quarters of deceleration. These developments reflect mixed sentiments surrounding Pulmonx’s financial outlook and growth potential.

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