Pulmatrix, Inc. (PULM) Financial Statements
Industry: Pharmaceutical Preparations
Net income was -$5.2M, or -$1.41 per diluted share. Operating activities generated -$5.4M of cash, leaving -$5.8M of free cash flow. At fiscal year end, Pulmatrix held $4.1M in total assets against $329,000 in total liabilities, including $4.1M of cash and equivalents.
Open the full interactive Pulmatrix financials → Quarterly statements, key ratios, valuation history and price charts.
Pulmatrix Key Stats
| Share Price | $1.38 |
|---|---|
| Market Cap | $5.0M |
| 52-Week Range | $1.19 – $5.01 |
| Shares Outstanding | 3.7 million (basic, 2026 Q2) |
Pulmatrix Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | $12.6M | $5.2M | $6.1M | $7.3M | $7.8M | — |
| Operating Income | -$9.9M | -$20.2M | -$18.9M | -$14.7M | -$9.8M | -$5.2M |
| Pre-Tax Income | -$19.3M | -$20.2M | -$18.8M | -$14.1M | -$9.6M | -$5.2M |
| Income Tax | — | — | — | — | — | $0 |
| Net Income | -$19.3M | -$20.2M | -$18.8M | -$14.1M | -$9.6M | -$5.2M |
| Diluted EPS | -$13.40 | -$8.63 | — | -$3.87 | -$2.62 | -$1.41 |
Pulmatrix Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | — | — | $0 | $0 |
| Net Income | -$877,000 | -$928,000 | -$1.2M | -$1.0M |
| Diluted EPS | -$0.24 | -$0.25 | -$0.32 | -$0.29 |
Pulmatrix Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $31.7M | $53.8M | $35.6M | $19.2M | $9.5M | $4.1M |
| Current Assets | $32.5M | $54.8M | $38.1M | $20.8M | $9.9M | $4.1M |
| Total Assets | $38.2M | $58.8M | $41.0M | $34.0M | $9.9M | $4.1M |
| Current Liabilities | $8.3M | $4.4M | $5.0M | $3.9M | $929,000 | $329,000 |
| Total Liabilities | $15.0M | $11.4M | $9.8M | $16.0M | $996,000 | $329,000 |
| Shareholders' Equity | $23.1M | $47.4M | $31.1M | $18.0M | $8.9M | $3.8M |
Pulmatrix Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$12.5M | -$19.7M | -$19.4M | -$16.0M | -$10.7M | -$5.4M |
| Cash From Investing | -$281,000 | -$144,000 | -$86,000 | -$676,000 | -$398,000 | — |
| Cash From Financing | $21.0M | $43.5M | $1.2M | $53,000 | — | — |
| Free Cash Flow | -$12.8M | -$19.9M | -$19.4M | -$16.7M | -$11.1M | -$5.8M |
Figures from Pulmatrix's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Pulmatrix financials page for every line item.
Pulmatrix Company Profile
| Ticker | PULM |
|---|---|
| Exchange | Nasdaq |
| Industry | Pharmaceutical Preparations |
| Headquarters | Framingham, Massachusetts |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001574235 |
Frequently Asked Questions
What is Pulmatrix's annual revenue history?
Pulmatrix's annual revenue by fiscal year: 2020: $12.6M; 2021: $5.2M; 2022: $6.1M; 2023: $7.3M; 2024: $7.8M.
What was Pulmatrix's net income in fiscal 2025?
Pulmatrix reported net income of -$5.2M for fiscal 2025.
What was Pulmatrix's earnings per share (EPS) in fiscal 2025?
Pulmatrix's diluted EPS was -$1.41 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did Pulmatrix generate in fiscal 2025?
Pulmatrix generated -$5.8M of free cash flow in fiscal 2025.
What was Pulmatrix's revenue last quarter?
In its most recent reported quarter (2026 Q2), Pulmatrix reported revenue of $0.
How many shares of Pulmatrix are outstanding?
Pulmatrix reported a weighted average of 3.7 million basic shares outstanding in 2026 Q2.
What is Pulmatrix's market cap?
Based on its latest closing price, Pulmatrix (PULM) has a market capitalization of about $5.0M.
When does Pulmatrix's fiscal year end?
Pulmatrix's fiscal year end, as registered with the SEC, is December 31.
Where is Pulmatrix headquartered?
Pulmatrix lists its business address in Framingham, Massachusetts in its SEC filings.