LUNG - Earnings call transcript Q2 2024

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to Pulmonx Second Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to turn the conference over to Elizabeth Sparicio, Investor Relations. Please go ahead.

Elizabeth Sparicio

you participating thank today's and afternoon, all in for call. Good

Williamson, from Chief Chief Pulmonx me President Financial are Joshi, Joining Mehul Steve and and Executive Officer. Officer;

for release today, copy A press on its Earlier a available the ended press is website. issued financial XX, Pulmonx of results Pulmonx' the release XXXX. quarter June announcing

limitation, harbor that which on Litigation to our Any forward-looking clinical are Before we prospects provisions future during results remind meaning call Reform safe Act include business that to statements contained and federal commercial including, this operating within the for financial of management upon the pursuant that COVID-XX those our expenses; commercial of growth expectations for future statements, various performance operating begin, the to you product I'd Private All development of of trends, Securities pipeline expense expectations our in of of are and in relate performance; impact current and opportunity; based estimates securities laws, relating and predictions or statements. strategies timing are organization; guidance forward-looking recovery; the XXXX. like this revenue; and trials; or assumptions. the results and margin expansion; statements will management; hiring; our call events, made forward-looking to statements for gross market make without

events results not by statements materially uncertainties these These actual should on Accordingly, could from or statements. you reliance place these to and those involve material or forward-looking risks differ cause undue anticipated statements. implied that

of release, which filings Exchange our business, provided X, XXXX. the non-GAAP risks Risk with results. of a of the to May this press These our uncertainties with is be to measures during our website. on intended please Factors report comparable directly Commission, SEC and our Investor Form substitute certain quarterly measures will including with financial call, the and list are on Reconciliations XX-Q discuss measures. the associated on a description financial Also, in For for financial Securities Relations refer GAAP we these measures to non-GAAP our filed non-GAAP not section the most the are posted GAAP and

contains today, call the information, update financial or XX, disclaims only any XXXX. information accurate to or any or as statements, otherwise. as law, of conference of and new or live This required is projections events whether because July time-sensitive intention forward-looking obligation, except broadcast by revise future Pulmonx

that, I And turn over call will with Steve. the to

Steven Williamson

Welcome earnings everyone. our call. Thank XXXX you, afternoon, and second quarter Elizabeth, to good

Mehul Here Officer. our with today Financial me is Joshi, Chief

Overall, XX% quarter I year. am over pleased with achieved worldwide record we our as growth sales, million $XX.X representing of period the second same quarter the performance prior of a

encouraged strategies further we with options limited by patient BLVR. Valves from to our to to and serve Zephyr and benefit our are access team's seek execution treatment We who as clinical pipeline of X.X continued commercial the expand million patients stand

year full The of the the momentum increasingly ability to leaves revenue the guidance confident on our built deliver to million million XXXX. $XX us in previously $XX we quarter exiting communicated for

commercial our the to were XX% the quarter expected, of traction results States, XXXX. As second United by quarter of we of compared sales our strategy second continued growth the achieved driven where in

is strategy our As three-pronged. a reminder, U.S. commercial

The Zephyr Valve first is and be potential centers. that have high-performing training to hospitals that physicians the

accounts with in and centers the revenue-generating patients. the in that programs; we the QX, physicians or facilitating the Valve placed treatment ended made XX each benefits and their the sharing is to among Zephyr and best awareness second COPD The automating and existing accounts of progress substantial among third, In Throughout quarter active of States a of the prong quarter. we added our centers in order commercial XXX strategy. United building local optimize of quarter, our practices patient workflows new

resources we present of to we excited more a C-suite provide the benefits hospital patients As our and which by Zephyr our opportunity of systems, to base, expand provides to account the clinical ability administration, to account to the for treatment then of hospital with serve We're continuously U.S. engaging Valve we're continue base opportunity development. of needed treatment the support in life-changing our growing U.S. the centers. have with need program

accounts. higher Zephyr the establish our June, of patient to dedicated While best Zephyr second identify from benefit as primary patient lung we procedure, accounts, of continue we bronchoscopic focus patients secure to reduction to in hosted to opportunistically Valves, engage of in sharing administration workflows. necessary from our establish Summit, hospital likely remains had and experience utilization centers we summit continues our XX XX year into southeast professionals automation designed treatment volume attended in heard to existing a more curriculum last new centers one on their passionate most of about about Clinical these comprehensive We together. own their build workflow implementing and the our from hospitals, utilization efficient team Zephyr resources. base practices field In inaugural to our particularly advancing the Valve pathways Attendees who participated a annual development and care identify the through existing Valve in practices potentially gathered Within high-performing best the where our treatment driving centers, Advanced of routine tools. expect

of efficiency we strategy over have is the Zephyr cases As procedural a vast growth. continued a further first result, capacity, our of remarkable half from them the many of handful hospital cases Valve for commercial in to year. to and opportunity and their year volumes allowing the saw this last XX anecdote validates grow and one increased This

and of by severe staff inspired easier. growing community of breathe share common was who with physicians COPD I partnering summit, our and a emphysema patients During goal all a helping

I witnessing on of patients. our humbled Zephyr Over treating few and with impact success the was initiatives. Valve field-based the my the I visited to treatment commercial connect gain experience last physicians across U.S. our on abroad centers months, by and insights of the

My to strategies region-specific on physicians blocks efficient place. treating we're a have have to establishing designing and building today Zephyr building the work as streams Valve inform we conversations also optimize in the routine procedure with helped

For visit cases from X example, per in that implant. through funnel about patients to initial XX quarter the took treatment to months account an averaged Colorado move

Together with included the all a key stakeholders, process, lack capacity procedure which to a and owner. helped we bottlenecks the in of clear program identify

new designed up Valve sets a customer action improve in key changes owner result, and process their setting the implemented a routine As items. Zephyr for such to workflow, as all EMR defined program order

per The Interventional to is more center Pulmonology the administration increase. they decrease case treatment received seeing as recently new of to and week went for implementation. as additional the of team benefit to per time Today, with cases workflow ask for hospital slots plans realize their and the asked number week X

broadly, process. physician Currently, CT work-up the a StratX announce evaluation. As an to part Connect the of launch manually upcoming to collaborative pleased on need streamlined, report software then generate upload more disk of automation program, to our transfer scans efficiencies scan a pilot for and our that to workflow I'm users and enable efficient the platform to cost-effective efforts LungTraX a enables to

platform CT eliminates Our the system. PACS process scan directly from new by the uploaded the software StratX to allowing hospital's this manual to be

time the meaningfully workflow points This for caseloads. reduce to stands care track it growing to manage patient the Zephyr treatment Valve to and in to patient potentially centers and Additionally, enables friction key reducing team patient. status, better share allows workup

details providing initiate expect look further a year, this program We on forward calls. back I to in in to our the select centers pilot future progress on and of handful of half our

through for patient and CME with our XXXX, positive and collectively drive COPD As digital provided we initiatives continue programs customers XX,XXX we're patient first help to education engagements deliver to These regional automation broader peer-to-peer community programs promote the best over share that also X,XXX awareness efficient of drove build XXX channels workflow practices, continuing enabled experience, patients like our another awareness physicians in program. physicians. to and half physicians a

community The We efforts foundation made this engagement programs. July, on which growth use continuing with for have in international we've meeting across sales we primary operational year-over-year increasingly summer We're increasingly many I on of EMEA business, peer-to-peer practice become best markets, pleased work impact our XXXX U.S. to as our in continue our for in in of the are OUS revenue at building tools and strategy. on confident U.S. growing international such to we focus to European progress remains of sharing, in our team's left education adapt evident our evident our ability sales these use year physician we While XX%. resulted QX, anticipate the the commercial year. as performance our focus this our our initiatives where developed in markets was in commercial executing

to in we Europe, our Asia. Beyond expansion with also progress continue efforts make

an a new entered medical company China. innovative supply with we distribution First, in into agreement distribution

we our in more While this to to in market market business, reach cost-effective a new China believe our us of distributor will represents manner. expand allow a this a small portion transition

Japanese of XXth thought month, leaders Endoscopy in with Japan. of of Meeting the Secondly, I Society earlier this launch where attended I connected the Respiratory the in Osaka, Annual Zephyr spearheading Valves

of anticipate from days I'm Zephyr in made That encouraged the this new to in through funnel. team progress our treatment of still of technology grow reception has additional and will received and by centers driving we and in Valves. being enrollment post-market half expect the participating the Japan treatment the early widespread take bulk increased occur sites of as the our positive awareness the the first to has study enrollment of said, it option, time the back the move awareness train we period patients we

a in material As said from do new toward in revenue we study stand until to from benefit commercialization expect XXXX. Japan broader marks step market, approximately we Zephyr patients XXX,XXX essential have an where approximately This contribution a the estimate Valves. not we past,

to expanding number development In can with of program. the clinical our through Valves that remain AeriSeal be our our addition global to committed patients goal Zephyr of treated we growing footprint, the

to continue effectiveness CONVERT of the safety AeriSeal II emphysema study make We trial, in the severe collateral COPD and to and global with multicenter designed evaluate ventilation a pivotal progress patients. limiting system and our

market we by AeriSeal University U.S. a believe case I'm addressable U.S. July, has and segment. Chair I II that critical announce of the first journey potential see with share of Thoracic the unlocking Temple CONVERT this in The XX% Criner, where market to step Medicine AeriSeal important that Zephyr to trial, opportunity, our attended U.S. the represents our We our pivotal leading expand in Jerry Dr. the largest approximately as center. at a in by the patient Valve globally. earlier Philadelphia, successfully in excited Surgery forward a treated was first to and case

international enrollment follows of CONVERT XXXX. in milestone II of initiation for the February enrollment U.S. The in select centers

the to Congress forward As of follow-up September pertains look European presentation it CONVERT study, I, in Respiratory our European the in Society at the to early X-month we data Vienna.

with conversion following We expect target demonstrate status CV-negative AeriSeal following high treatment Valves. positive will the outcomes and lobe subsequent the Zephyr clinical to presentation on

we World and French been meeting, including X the of abstracts meetings, patients study, to Congress I'm placement the field, following spectrum abstracts As exacerbations Annual CHEST advancing multicenter substantial LIBERATE remain abstracts including clinical severe an have a Association committed American scientific and real-world and Pulmonology. been X-year additional at the the for Bronchology These long-term research data to for of Valve accepted, from in volume upcoming X the reduction announce follow-up in and reduction data, Bronchology key will of Interventional our further with and registry. our results Zephyr Meeting pleased Pulmonology have presentation ERS, submitted from Interventional new cover

strategy view benefits. We drive awareness a of Zephyr we which global look to with network component forward these their Valves increased clinical and our clinical to as of crucial our at events, connecting

We growth global markets are drive are OUS in continue the of AeriSeal we've catalysts the confident will XXXX. provide of XXXX. growth tools the that automation in implemented, ongoing new the post-approval study long-term Further, the in surveillance developing commercial our and scheduled clinical completion strategies will data release and we Japanese the of to launch

significant of I expected believe U.S. XXXX well in launches. reasons significant cadence that growth. positioned out the Pulmonx of expanding Finally, and long-term these rounds It market innovative is is for for continued AeriSeal launch a

detailed more Now turn second a quarter results. of the to provide our I'll call over to Mehul review

Mehul Joshi

constant X XXXX, $XX.X you, XX% over June prior good the Thank ended a and an a increase the currency million, worldwide and everyone. also increase Steve, period for year revenue XX, Total was basis. XX% of on afternoon, months

period. performance momentum by strong second in adoption was and year Our quarter $XX.X XX% increase over Valve of million, Zephyr driven U.S. continued the prior was therapy. a commercial the revenue

of lower increase margin of the $X.X prior million, XXXX favorable quarter flat in mix. quarter revenue second of was Gross XX% over a reflecting the XX%, period, offset an currency essentially period partially XXXX an basis. on utilization, for the XX% was year constant also International and geographic the second of prior year by versus increase

of internally a improvement for of of noncash of operating charge was second expenses Operating period. initiatives impair an long one more to be million developed adopt year gross software of increase a included term. XXXX the a decision Total solution. result were margin following million, strategic prior in expenses quarter X% a that R&D gross margin the accretive the in $XX.X This $X.X onetime over our will to efficient

million prior the Noncash flat operating second were Excluding the in compensation XXXX. year total over onetime the of charge, was expenses quarter period. $X.X stock-based

were total the period. in flat XXXX charge, operating expense second stock-based of Excluding impairment onetime compensation quarter year expenses over the prior and the

quarter XXXX impairment million, XX% period. excluding the period. costs. second were $X.X prior versus expenses, expenses over lower the clinical decrease driven the the down for were $X.X decrease trial year a and onetime software was expenses development by of lower prior year X% R&D R&D million, of charge, The

trials from to our expect second as in ramp. clinical increase quarter to the continues We expense R&D enrollment

quarter $X.XX expenses of increase to or investment per increase loss year shares for count prior and was patient XXXX second the used prior administrative a The share driven additional of $XX.X year. An period in determine quarter X% the million loss $XX.X a or loss programs. loss quarter $X.XX the the by million were of per share a an same million, over the of of second was per was the share of Sales, second share average XXXX weighted of XX.X compared for as Net general million primarily awareness XXXX. to net for of loss for $XX.X period. of

a for $X.X refer Adjusted second Please reconciliation compared improvement quarter for further non-GAAP of a EBITDA as our to to the details. million $XX.X million year-over-year was XXXX, in XX% XXXX second EBITDA on of loss the of to quarter loss net basis. adjusted

XX, cash million of a June decrease XXXX, and from March ended XX, We million with cash, marketable $X.X XXXX. in equivalents securities, $XXX.X

hand. prudent cash drive focused our have by with for demonstrated ability flow to million remain revenue laser provide current beyond the with cash cash our combined position, continues and our plan the operating X in Our to our period to interest-only confidence term ability breakeven growth existing operating extended assumptions, cash leverage and on We payment $XX become on management loan year.

refinanced will or for conditions, rate maturity As principal period attractive interest-only a extend additional subject term loan XXXX reminder, to the more months, in the now loan a October the The extend November with XX begin no date XXXX, with to and XXXX, we we're date. to ability secure certain to rate changes interest which an to repayment maturity satisfied. the in the

guidance. year now full to XXXX Turning

guidance. we reiterating revenue, communicated ahead, look OpEx XXXX previously and margin we As are fiscal gross our year

deliver XX% to as range at in to our remain executing commercial million the confident growth our $XX we approximately of $XX midpoint. full million, expect in year reminder, we We a representing continue a strategy. guidance revenue the As XXXX focused

a continues on guidance Our currency assume to from neutral negative rates. revenue slightly to foreign exchange impact

down the Moving P&L.

expect of margin XX% for gross XXXX within to full We fall XX%. the range the to year

stage of full $XXX we next to approximately of all, expect between XXXX forward year inclusive executing Lastly, to million, for million expense. outlook the growth. operating In and noncash $XXX for in we our XXXX of compensation stock-based confident look to on the fall expenses million are $XX

open I'd that, we your questions. attention, Operator? the like for to for now call you and With thank will

Operator

first Bednar Sandler. is Our with Piper question from [Operator Jason Instructions]

Jason Bednar

directly, just the we on back reaffirmed question, typical assumptions are really for underlying business is ask just or how sitting performance the at the on wanted to sequential year with seasonality to typical and to same currently anticipate guide, of cadence about look half revenue start I quarter. outside maybe thinking you're ask as XQ half. volume and with you Anything second where the for The XQ procedure the the comfortable of you would XQ, more performance Street in the the the revenue. Nice here XQ

Steven Williamson

Yes.

the So kind for I the words Jason, thanks appreciate and question, there.

now, where a at the the take we're looking landed half back the the in the we and first we right look we're happy obviously, we've performed at half of As in of half year, how guidance with first year.

we saw seasonality in I And of comp Mehul at yet, think as we I through In for gave muscle kind which the U.S., we've a through we're as seasonality the to 'XX, haven't. like haven't good seasonality in it and growth. the QX. we us we looks And into that been cycle able shown move both XXXX, back the half, look U.S. tough and OUS.

variability our future, we 'XX the and and to with don't predictors between for skis kind the 'XX using of we that just want as -- So over get there.

why our to feel with And so we Mehul, want comfortable add you that? and so far, we're to to reaffirm guide. performance anything the able that's

Mehul Joshi

No.

Steve. you think got it, I

Jason Bednar

to we international? is good to range? business I look it. U.S. as the any as same back performance. out we growing next Is follow-up quarters? playing Or as about just expectations Maybe where to international U.S. guess it the break thinking in get then I the along you several have appreciate plus differences That's And on take over what's mix maybe that maybe how you're international the Okay. you're double expected? in helpful. is enough that anticipate should it Just that that is to vein that would going we versus for out mid-XX% digits seeing? that

Steven Williamson

Sure.

it expected look to out really performance, we at out. the we play OUS is As playing how it

are done for gone or as is really we tools businesses. are European there our they're sales the not quickly And was I was pointed as process European As meeting. U.S. in we've What as impressed. you in the out, over sales and I U.S. implemented the we've they growing the rightfully in And actually obviously,

I I team really plan. about think left is their the executing sales process. focused that meeting the on bullish

building practice education physician really, efficiencies, patient look lot education. we well. they're developing they're screening, from forward, as seeing out And physician looking at Europe coming as We're a of

I more also very like a put plans I I play the the I we'll with see sales impressed that they plans out they've was And And together. to those little think around so bit was said, tactics. And this built start in XXXX. --

So are things to are and the growth the time. that right get I up there doing management that team the would that say rate over

Jason Bednar

Excellent. right. All

Just just more, if in check I a modeling the can to seeing one squeeze box wise here we question, of there's if need a on the as bit consider anything little new any, inventory you agreement we Mehul, about you're through to or Any new need in place, have China as go you transition? distributor think load-in that distribution the on. bringing accounting but

Mehul Joshi

all. at Yes. Great no, or nothing on new distributor loading question, OUS Well, I accounting a the we've that It's mix in here Jason. brought the into our think, strategy.

enable believe were I in building China. down that faster a significantly and route grow think infrastructure if what we we to the commercial revenue out there going will is than going distributor

so to to profit are and you the operating over distributor as your ourselves. little expect there lower. margins be And dollars accretive business gross margins a would relative we expect term, But gross in bit building the arrangement, a long

Steven Williamson

Got it.

I on real -- to is As I quick, this think if that. can Jason, Steve add

you've market, about think population. a China got huge I that As

well. population smoking as huge a got You've

we a would to able we be it launch our would where place would and So product. to go want to seem naturally be

And population cost of think run large a is into of there, self-pay. and portion self-pay for is I that, procedures the country there's ours. becomes a because one prohibitive it issues that of it's like you out

they be done a aligned on the to proper they'll the to bandwidth areas, we've that take go tactically have So distribution and actually partner, what identify and able in with market. is and

our perspective, next grow out, as couple to from future, we over of So hopefully, grower that years start we'll the revenue it in faster. of couple years. see a small the see But a

Operator

comes question Larry of Our the line from Wells Fargo. Biegelsen next with

of line Wuensch from next Our Joanne question Citi. the with comes

Anthony Occhiogrosso

U.S. last This normal Congrats the that quarter. quarter why expecting through question, so there strong solid of is was What of a should Anthony And course reason robust year? centers, be was on My pretty for XX it rest step-up the business? just was of we the from outside Joanne. any this new the on quarter. particular first

Steven Williamson

is this -- Steve. it's Anthony,

expect bit As we've accounts it's new been and at in guiding, X, a on. at XX here, to per QX. little bring We to we're XX. We XX is about quarter were light we were what

where So be we nothing and and We've we're couple there. of actually to I opportunities right would different gone ordinary on there's But areas. out had accounts now. think opportunistically combined, a a new of bit above expect brought the -- it's in little in

well. remains on will that same-store sales as in growing focus I the say our

where awareness are order them. think I board. patients already bring in a and set new going But and drive patient it's in accounts, have treatment. that got we to on us nice to their have got up. time. centers for to over to activities physicians physicians COPD. are areas. we what referring these do really on especially there's hours really, get these They are that is marketing to on areas They've want in the That's growth see in where workflow. Referring They've coordinators built They've

accounts as to obviously, focus opportunistically as will do to or bring on we us. And so for we big new so. that's But the need opportunity we a see

Anthony Occhiogrosso

And talk but step it like up towards basis, sounds about to just just on be that's dollar we to And then slight weighted way if half, confirm could more just want the That R&D it. going the XXXX, that to good I correct margins to in then OpEx, is the going -- think of Mehul, a it's of about as look sort the Okay. at in cadence think makes that. sense. about place back you a

Mehul Joshi

will Anthony, XX% on half expect in kind of the gross half. enable the better. do So We that average utilization us factory, slightly we significantly. right? is over really going by margin gross are geographical XX% second the increased mix, driven do other We've -- varies, to -- margin margins. guided we tick It's And to on as in production which to so mix in first impacts XX%. a at impacts is that geographical our factor gross manage Yes. up be to

so and year-over-year of do margins gross basis. bit of that, tick had expect But slight the we've a in year. And a half a the both in second we quarter-over-quarter little a on up

On expenses, prepared on our R&D, to in as specifically some mentioned would R&D to as I remarks, in trials, dollars clinical up tick the increase. expect we starts enrollment

as ramp there's So do up when front we you various much know, usually ramp up a will a in start different time slow tick you R&D. half faster frames. clinical get second expect trial, it the through and you as for to But

Operator

Our the Young line of Canaccord. with next John from question comes

John Young

going the you think the you on X. data Maybe do maybe for trial for to [ go for CE AeriSeal data? you is can CONVERT II? you ] mark be? would will successful just investors Congrats quarter Or explain CONVERT wait will to And I, what using

Steven Williamson

presented The presented have already be CONVERT data The II at mark X-month actually have data, then. will we already so be for CE AeriSeal. I ERS. John, CONVERT So data will the we

II will IDE used PMA. U.S. So in the we're for the CONVERT be -- just It's trial the the data

PMA XXXX into in then to expect in would through time United once we we've once the process. enrollment, the EU, be And the to plan the approval launch then our would commercially that would expect go be when we and So we we we completed to launch XXXX frame. States

John Young

talk you've workflows. the we the it the just Should software Anything And field procedure what have identified, or about itself. friction around given like Okay. And points commercial around else identified? friction process R&D you work in points that now? you've been is your StratX Chartis identifying sounds the upgrade, time other being really What then anything internal commercial the done? in improve

Steven Williamson

Not new really. to that really the business. a ups long-term hold had benefits overall did growth physician, but some aren't We and the launch for those the scale of question. a It's ease-of-use good Chartis balloon

the to patients it what think process. we really and move I the through down efficiently can comes to workflow do

working John, States. the most the excited in outside the about, working. I and of sales out it's gone things U.S. I'm And field, as one both process United working It's think that is the our I've in

well in as are clinical II. trials Our CONVERT progressing as well Japan both

X strong. But of waiting are a more we're We've publications clinical to on. product. I got hear mean, out. got that's to that efficacy We've speaks Our clinical that data significant abstracts different the this X coming new long-term

people slightly are bought is employee look year-to-date. down turnover in, our year-over-year If you the think internally, I

turn, were we're originally seeing grow for think effective So continues not And good, significant to we've about. patient and people software. We've that workflow I got which concerned now engagement, automation got strong us.

So got we've you've market. a big untapped got --

to that eager want physicians do have You more.

patients to unleash the that my It's You've some in in got from of workflow linchpin motivated got larger benefit We've volume is larger procedure. a mind administrative order buy-in. key the that really these in much really centers.

Operator

Capital Our [Operator Instructions] Street Markets. with next question is Takkinen Lake from Frank

Frank Takkinen

one guidance. to But seasonality it's to QX, XXXX know the the be XXXX. up, thinking Maybe went went made QX one that that down. in Steve, know about. I I I wanted help was with volatile point question a revisit versus should related we you been I'll little from first about start said asked read-through to us exact with you

can So from how year a to were starting QX standpoint and sequential understand were years we should glean aware we there maybe kind trying of that X that in think any this if from. some the about of either of previous onetime information of there you items

Steven Williamson

question, for on the good to call. Frank, Yes, have the thanks you and

and we looked OUS U.S. a the decrease revenue. we XXXX, at As in both saw

on space pointed seasonality And that instances, towards on we this were I doctors only have in vacation. patients both in seasonality. is going vacation, not think but go you perhaps

take the high-volume that that month will obviously, have physicians affect weeks, off, If couple a of you a numbers.

we XXXX, see that And so seasonality revenue seasonality, in the I those think numbers. did I but here, in wasn't

seen see were the didn't 'XX prior had we Moving in through falloff United year. in able to we the to 'XX, we the States. And muscle in that

get. of momentum think were able in a that And and couple was through to We lot in we now on instances. don't in of QX they off projects going we're will a push a in know coming I seasonality Europe 'XX. know do 'XX, see the many take to were there in physicians from month of we that different what sales going as U.S.

are And that procedures won't so just place. take those

the also to that? So procedure. a add kind helps, reasons of of vacation that on seeing they're my in that a vacation U.S., new different wait I'll going not And have brought push or look we As saying, a impact anything on maybe their small number of we I the are physicians it's come until of lot overall, to as out mixed you or right? bag. accounts, back want dilute to patients. But patients from you finding Mehul, we

Mehul Joshi

mean external I Steve point there travel and I summer. data are things increased about that. the only summer of substantially, mentioned, last this like as has right, And level vacation think is schedules versus No. I think

So specifically we're what of impact be will the quarter, the the uncertain of in seasonality just in U.S.

of we're think to with bit kind that a what kind little to we think about I just better understand of before waiting So do guidance.

Frank Takkinen

and maybe Obviously, of bottlenecks secondly, a that local but Okay. of can a patient about then programs, also X-parter may you're And efficiencies is awareness? the you the couple lot can seeing? out to you the heard on pilot that the stopped is bottleneck processes, of a That's it of talk enhance by? call then case-by-case consistent Or Is you programs. it kind basis? getting some channels pilot about a on kind workflow helpful. And a maybe maybe those you use

Steven Williamson

Sure.

have do patient do that can the different is more different bottlenecks Or it will first, are coordinator -- would that that that I through different add a the the in question when on or board? in the coordinators is a it places? it's than actually they accounts your find accounts across consistent not is We process, places. and navigator different say navigators. significantly So manage

a The the physicians is manage their will managing navigator they -- bringing if do on left patient a process, the own if they process. that fewer you have that's than have through associated physician a that to workflow with

find to physician through, I Connect -- we've you actually upload computer CDs a easier tools launched, in If managing the that put facility these coordinator upload CD it about it plug to in, the about go it burn LungTraX or our for talked scans a cloud. that the think without makes CT having that to takes navigator, for whoever's patient that Connect. radiology, LungTraX days,

able these system. be the directly pull PAC they'll from Now to

So receive treatment. to for I improvement a good easier that's think make it workflow patients the will that

LungTraX think track the Connect, the patient process. through the ability to more importantly, on I is

that patient automated. So of on testing that that patient of order got coordinators, not has there's now, it's that very it's -- get are paper will workflow on you spreadsheets that sheets necessary a that component physicians you've through treated. are Right just to have and that different are in actually levels areas not track different Excel gone

The the where And wakes which together the so we patients have can with track ability, up items coordinator process. that. the in and action are up through we've software they them process they in, to day in allows see that exactly the then patient their put come that that the log the morning, from go

continue to So automation here. work on we'll

it's then think back to at talk looking those practices And been sharing the finally, things. X different and programs. coordinators, physicians. local adding best about doctors I've as practices. communication I referring best -- Those are educating workflow, screening really It's We

pulmonologist. happened. less "Hey, him gets the send physician, If a patient that this back pulmonologist they you that an that to pulmonologist treat back or don't but If happens, something referring patients is the doesn't is this that to more into treats the found, physician that and get to physician is we have refers doctor and interventional to patient, interventional what likely says, patients what

great. referrals did your see back patient This is Your you." I'm patient increase we You'll sending are. to more. where

talk when best fall number of there's things practices, sharing So of that about under a different that. we

step to then workflow ability to the this continue process. on work for the workflow we'll future through it make for LungTraX is The Connect to from automate our and second third and patients us in efficient the to more step get quarters

Operator

I further to I Williamson the show now to like closing would this remarks. questions at turn no call Steve back time. for

Steven Williamson

for thank to operator. for their like conclude, worldwide to. I don't appreciate every so moment a strong take it. and a employees your continued Pulmonx' have our Thank patients time. quarter delivering every dedication all second you, fighting to To for Thank you breath day I'd to

Operator

call. This you for concludes participating. today's Thank conference

now may disconnect. You

Pulmonx (LUNG) 31 Jul 242024 Q2 Earnings call transcript