Pulmonx Corporation (NASDAQ:LUNG) Q1 2024 Earnings Call Transcript

Mehul Joshi: So, when we set guidance in February, we assumed an accounting methodology for SBC expenses for an executive transition. And as we continue to evaluate that and close the books for the quarter, we had a methodology change. I mean, SBC is a noncash expense, so it was a methodology change that was affirmed by our auditors and that’s what drove the reduction in the SBC guide. Non-OpEx guidance stayed the same. I mean, non-SBC OpEx guidance stayed the same. So, we’re still managing to that number, which is around 12% year-on-year growth and that’s investing in not only our commercial activity, but also in the clinical trials and the R&D initiatives that we have underway.

Operator: I would now like to turn the conference back over to Steve Williamson for closing remarks.

Steve Williamson: Thank you, operator. To conclude, we had a great first quarter and I’d like to take a moment to thank Pulmonx employees worldwide for their continued dedication to helping patients with severe emphysema breathe easier, do more and to lead fuller lives. I think this is really a great time to be at Pulmonx. And with that, thank you all for your time and have a great rest of your day.

Operator: This concludes today’s conference call. Thank you for participating. You may now disconnect.