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Side-by-side financial comparison of Arteris, Inc. (AIP) and Pulmonx Corp (LUNG). Click either name above to swap in a different company.
Pulmonx Corp is the larger business by last-quarter revenue ($20.6M vs $20.1M, roughly 1.0× Arteris, Inc.). Arteris, Inc. runs the higher net margin — -42.2% vs -66.3%, a 24.1% gap on every dollar of revenue. On growth, Arteris, Inc. posted the faster year-over-year revenue change (30.0% vs -8.7%). Over the past eight quarters, Arteris, Inc.'s revenue compounded faster (24.7% CAGR vs -0.5%).
Arteris, Inc. is a multinational technology company headquartered in Campbell, California. It develops the network-on-chip (NoC) IP and system-on-chip (SoC) integration automation software that is used to create semiconductor chip and chiplet designs for a variety of devices, particularly in automotive electronics, artificial intelligence, machine learning, enterprise computing, communications, consumer, industrial, and aerospace & defense markets. The company specializes in the development a...
Pulmonx Corp is a global medical tech firm focused on interventional pulmonology solutions. It develops minimally invasive endobronchial valves to treat severe COPD and emphysema, with products sold across North America, Europe, and Asia-Pacific for patients with advanced lung conditions.
AIP vs LUNG — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $20.1M | $20.6M |
| Net Profit | $-8.5M | $-13.7M |
| Gross Margin | 90.8% | 77.9% |
| Operating Margin | -42.0% | -40.9% |
| Net Margin | -42.2% | -66.3% |
| Revenue YoY | 30.0% | -8.7% |
| Net Profit YoY | -3.7% | 5.5% |
| EPS (diluted) | $-0.19 | $-0.33 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | — | $20.6M | ||
| Q4 25 | $20.1M | $22.6M | ||
| Q3 25 | $17.4M | $21.5M | ||
| Q2 25 | $16.5M | $23.9M | ||
| Q1 25 | $16.5M | $22.5M | ||
| Q4 24 | $15.5M | $23.8M | ||
| Q3 24 | $14.7M | $20.4M | ||
| Q2 24 | $14.6M | $20.8M |
| Q1 26 | — | $-13.7M | ||
| Q4 25 | $-8.5M | $-10.4M | ||
| Q3 25 | $-9.0M | $-14.0M | ||
| Q2 25 | $-9.1M | $-15.2M | ||
| Q1 25 | $-8.1M | $-14.4M | ||
| Q4 24 | $-8.2M | $-13.2M | ||
| Q3 24 | $-7.7M | $-14.1M | ||
| Q2 24 | $-8.3M | $-15.3M |
| Q1 26 | — | 77.9% | ||
| Q4 25 | 90.8% | 77.6% | ||
| Q3 25 | 89.9% | 74.7% | ||
| Q2 25 | 89.4% | 72.1% | ||
| Q1 25 | 90.8% | 72.5% | ||
| Q4 24 | 89.8% | 74.0% | ||
| Q3 24 | 90.1% | 73.7% | ||
| Q2 24 | 90.0% | 73.7% |
| Q1 26 | — | -40.9% | ||
| Q4 25 | -42.0% | -43.8% | ||
| Q3 25 | -50.1% | -66.9% | ||
| Q2 25 | -50.0% | -62.0% | ||
| Q1 25 | -46.6% | -64.6% | ||
| Q4 24 | -45.9% | -56.5% | ||
| Q3 24 | -53.8% | -69.3% | ||
| Q2 24 | -51.1% | -75.2% |
| Q1 26 | — | -66.3% | ||
| Q4 25 | -42.2% | -46.1% | ||
| Q3 25 | -51.6% | -64.9% | ||
| Q2 25 | -55.3% | -63.6% | ||
| Q1 25 | -49.1% | -64.1% | ||
| Q4 24 | -53.0% | -55.4% | ||
| Q3 24 | -52.2% | -69.4% | ||
| Q2 24 | -57.2% | -73.7% |
| Q1 26 | — | $-0.33 | ||
| Q4 25 | $-0.19 | $-0.25 | ||
| Q3 25 | $-0.21 | $-0.34 | ||
| Q2 25 | $-0.22 | $-0.38 | ||
| Q1 25 | $-0.20 | $-0.36 | ||
| Q4 24 | $-0.19 | $-0.33 | ||
| Q3 24 | $-0.20 | $-0.36 | ||
| Q2 24 | $-0.22 | $-0.39 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $33.9M | $61.6M |
| Total DebtLower is stronger | — | $37.3M |
| Stockholders' EquityBook value | $-14.6M | $45.8M |
| Total Assets | $115.0M | $120.0M |
| Debt / EquityLower = less leverage | — | 0.82× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | $61.6M | ||
| Q4 25 | $33.9M | $69.8M | ||
| Q3 25 | $39.0M | $76.5M | ||
| Q2 25 | $38.0M | $75.5M | ||
| Q1 25 | $42.3M | $74.6M | ||
| Q4 24 | $43.8M | $70.9M | ||
| Q3 24 | $48.7M | $63.3M | ||
| Q2 24 | $45.8M | $63.5M |
| Q1 26 | — | $37.3M | ||
| Q4 25 | — | $37.1M | ||
| Q3 25 | — | $37.1M | ||
| Q2 25 | — | $37.1M | ||
| Q1 25 | — | $37.2M | ||
| Q4 24 | — | $37.2M | ||
| Q3 24 | — | $37.2M | ||
| Q2 24 | — | $37.2M |
| Q1 26 | — | $45.8M | ||
| Q4 25 | $-14.6M | $54.1M | ||
| Q3 25 | $-11.4M | $60.0M | ||
| Q2 25 | $-7.5M | $69.1M | ||
| Q1 25 | $-4.8M | $77.7M | ||
| Q4 24 | $-1.2M | $85.8M | ||
| Q3 24 | $2.2M | $93.9M | ||
| Q2 24 | $5.3M | $101.2M |
| Q1 26 | — | $120.0M | ||
| Q4 25 | $115.0M | $129.3M | ||
| Q3 25 | $107.7M | $138.3M | ||
| Q2 25 | $106.9M | $147.2M | ||
| Q1 25 | $98.3M | $150.7M | ||
| Q4 24 | $106.1M | $162.8M | ||
| Q3 24 | $97.7M | $167.4M | ||
| Q2 24 | $96.4M | $172.6M |
| Q1 26 | — | 0.82× | ||
| Q4 25 | — | 0.69× | ||
| Q3 25 | — | 0.62× | ||
| Q2 25 | — | 0.54× | ||
| Q1 25 | — | 0.48× | ||
| Q4 24 | — | 0.43× | ||
| Q3 24 | — | 0.40× | ||
| Q2 24 | — | 0.37× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $3.2M | — |
| Free Cash FlowOCF − Capex | $3.0M | — |
| FCF MarginFCF / Revenue | 15.1% | — |
| Capex IntensityCapex / Revenue | 0.7% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $5.3M | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.2M | $-7.1M | ||
| Q3 25 | $3.2M | $-8.2M | ||
| Q2 25 | $-2.5M | $-3.9M | ||
| Q1 25 | $2.9M | $-13.2M | ||
| Q4 24 | $-2.6M | $-6.7M | ||
| Q3 24 | $1.1M | $-7.2M | ||
| Q2 24 | $311.0K | $-5.8M |
| Q1 26 | — | — | ||
| Q4 25 | $3.0M | $-7.1M | ||
| Q3 25 | $2.5M | $-8.3M | ||
| Q2 25 | $-2.8M | $-4.0M | ||
| Q1 25 | $2.7M | $-13.5M | ||
| Q4 24 | $-2.7M | $-6.8M | ||
| Q3 24 | $1.1M | $-7.7M | ||
| Q2 24 | $264.0K | $-6.2M |
| Q1 26 | — | — | ||
| Q4 25 | 15.1% | -31.4% | ||
| Q3 25 | 14.2% | -38.4% | ||
| Q2 25 | -17.2% | -16.6% | ||
| Q1 25 | 16.2% | -60.0% | ||
| Q4 24 | -17.3% | -28.8% | ||
| Q3 24 | 7.4% | -37.6% | ||
| Q2 24 | 1.8% | -30.0% |
| Q1 26 | — | — | ||
| Q4 25 | 0.7% | 0.1% | ||
| Q3 25 | 4.1% | 0.4% | ||
| Q2 25 | 2.2% | 0.2% | ||
| Q1 25 | 1.1% | 1.3% | ||
| Q4 24 | 0.3% | 0.5% | ||
| Q3 24 | 0.2% | 2.0% | ||
| Q2 24 | 0.3% | 2.3% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AIP
| License And Maintenance | $17.5M | 87% |
| Variable Royalties And Other | $2.6M | 13% |
LUNG
Segment breakdown not available.
