Pulmatrix, Inc.
Financial highlights
| Metric | FY December 31, 2025 | FY December 31, 2024 | FY December 31, 2023 | FY December 31, 2022 | FY December 31, 2021 |
|---|---|---|---|---|---|
| Revenue | — | $7.8M | $7.3M | $6.1M | $5.2M |
| Operating income | -$5.2M | -$9.8M | -$14.7M | -$18.9M | -$20.2M |
| Operating expenses | $5.2M | $17.6M | $22.0M | $25.0M | $25.3M |
| Cash from operations | -$5.4M | -$10.7M | -$16.0M | -$19.4M | -$19.7M |
| Capital expenditure | — | $398,000 | $676,000 | $86,000 | $144,000 |
| Free cash flow | — | -$11.1M | -$16.7M | -$19.4M | -$19.9M |
| Impairments | — | — | — | — | $3.6M |
| Total assets | $4.1M | $9.9M | $34.0M | $41.0M | $58.8M |
| Total liabilities | $329,000 | $996,000 | $16.0M | $9.8M | $11.4M |
Shares outstanding 3.7M · Free float 45.6%
Annual filing data through FY ended December 31, 2025; float as of June 27, 2026.