Stock Ratings / Health Care / PULM / financials

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Pulmatrix Inc. (PULM) Revenue-to-Profit Sankey Flow & SEC XBRL Financials

$1.40 -1.06% NASDAQ • Live Quote vs Prior Daily Close (Synced Snapshot) EXT / AFTER-HRS: $1.39

Pulmatrix Inc. (PULM) carries a Roarable Rating of D- (Sell) with 36/100 RQD Confidence due to weak cash-flow efficiency and sensitivity to current interest rates. Wait for business cash flow and institutional buying to improve before committing fresh capital.

📊 Historical Track Record Warning: Scores below 50 (36/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows →

ROARABLE D- • RED ALERT Cap $5.1M

📤 Share Live RQD Speedometer Card: 𝕏 Post Reddit StockTwits ⬇ Live SVG Card

⚡ INSTANT AI QUANT PREVIEW • $0 FREE TIER Click Any Pre-Computed AI Quant Specialist Briefing on PULM Below — or Connect Your Own ChatGPT / Claude

🤖 Mara Quenwick • AI Quant Lead (Click for Instant Brief) Is PULM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

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As of 2026-11-03, Pulmatrix Inc. (NASDAQ: PULM) is rated D- (Sell / SELL) by Roarable's 5-pillar RQD engine with a composite confidence score of 36/100 at a spot price of $1.40 (-1.06% 1D, market cap $5.1M). Pillar breakdown: Fundamental Cash Engine 6/20, Institutional 13F & Options Flow 5/20, Executive Insider Alignment 10/20, FRED Macro Regime Fit 10/20, and SEC Balance-Sheet Forensics 5/20. Across 1016 tracked Health Care issuers, PULM ranks #584 in composite RQD confidence.

✓ Pre-computed one-to-many AI Quant brief

🤖 Ellis Vennor • AI Peer & Flow Quant (Click for Instant Brief) How does PULM compare to IMNN and GELS in the Health Care sector?

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Within the Health Care sector (Biotechnology: Pharmaceutical Preparations), PULM carries a Roarable D- (36/100 RQD), trailing P/E of N/A, gross margin of —, and ROIC of -35.0%. By comparison, IMNN (Imunon Inc.) holds a E grade (31/100 RQD, P/E N/A, ROIC -35.0%, cap $5.1M) and GELS (Gelteq Limited) posts a D+ grade (54/100 RQD, P/E N/A, ROIC —, cap $5.2M). Among the 5-stock peer group, PULM leads on earnings multiple (N/A) while PULM leads on capital efficiency (-35.0% ROIC).

✓ Pre-computed one-to-many AI Quant brief

🤖 Gideon Ashmere • AI SEC 10-K Forensics (Click for Instant Brief) What are the biggest fundamental strengths and SEC risk factors for PULM?

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Per PULM's SEC EDGAR XBRL 10-K filing (FY2025, filed 2025-12-31, CIK 0001574235), Pulmatrix Inc. generated $0 in revenue (-100.0% YoY), -$5.2M in net income, and -$5.4M in free cash flow against $4.1M in total assets and $0 in total debt. Key quantitative strengths: Established market leader in Health Care with deep daily trading liquidity.. Primary risk factors monitored: Company executives have done more routine share selling than personal cash buying lately.. Institutional options positioning shows a 50% call / 50% put premium split.

✓ Pre-computed one-to-many AI Quant brief

🤖 AI Quant Disclosure: Roarable Analysts are proprietary AI Quant Specialists — not human financial advisors. Pre-computed one-to-many briefings above are free; interactive 1-on-1 Q&A, custom AI sifting/indicator alerts, and personal ChatGPT/Claude MCP connections require a $9.95/mo Pro account (currently waitlist-only).

INTERACTIVE SCENARIO DECK:

🛡️ Portfolio Crash X-Ray

EXT / AFTER-HRS: $1.39 (-0.38%)🧬 Disciplined Float (+0.72% YoY Shares)⚙️ Cash Engine: 6/20 (E) • 0% FCF Margin

Verify 90D Bucket Audit →

📊 Historical Track Record Warning: Scores below 50 (36/100 · D-) historically underperformed SPY in 71% of rolling 90-day windows (-8.3% avg 90D alpha vs SPY • 29.0% hit rate).

Audit Bucket Track Record →

RQD QUANT TACHOMETERRED ALERT • D-

3-of-3 JEV AI Jury Bearish Warning

Cash

SEC

Whale

Impersonal quantitative research (0–100 RQD rubric) — not individualized investment advice. Past performance does not guarantee future results. Full Disclaimer

5-PILLAR SNOWFLAKE RADARRw E · Rk D

Each axis scored 0–20

12M PRICE TARGET CONE-10% Base Target

WHALE OPTIONS SNAPSHOT: — (No Active Options Snapshot on file for PULM)Realized 20D OHLCV Swing Band: ±12.5%

Deterministic 5-Pillar Attribution (36/100 Composite)

🔍 WHY PULM SCORES 36/100 (D-) — TOP 3 DRIVERS2 Bullish Pillars + #1 Risk Drag

▲ #1 Bullish Driver: SEC 10-K Forensic Risk+10/20 pts (28% of score)

Altman Z-Score 3.80 (FORTRESS SAFE (>3.0)) • Piotroski F-Score 2/9

▲ #2 Bullish Driver: Macro Regime Fit+10/20 pts (28% of score)

FRED Regime × Technicals: 6% of 52W Range • RSI-14 at 45.1 (NEUTRAL RANGE)

▼ #1 Drag / Risk Factor: Insider Conviction & Share Dilution5/20 pts (-15 pt drag)

Disciplined Float (+0.72% YoY Shares) & executive Form 4 sales trim 15 pts from alignment

📈 PAST 4 QUARTERS RQD vs SUBSEQUENT RETURNQ1 → Q2 → Q3 → Current

Q1 (-3Q)

Grade E$1.38+3.6% Next Q

Q2 (-2Q)

Grade E$1.43+4.2% Next Q

Q3 (-1Q)

Grade E$1.49-6% Next Q

Current

Grade D-$1.40-8.3% Hist 90D α

Trajectory: E (28) → D- (36)Full Audit →

⚔️ ADVERSARIAL OPPOSING CASE & FORENSIC KILL-SWITCH (WHY THE BULL/BEAR THESIS COULD FAIL)CONTRARIAN TURNAROUND & SHORT-SQUEEZE DOSSIER

⚔️ Adversarial Opposing Case: What Could Spark a PULM Turnaround Squeeze

Gideon Ashmere Forensic Desk →

While PULM currently carries a cautious 36/100 (D-) rating due to Insider Conviction & Share Dilution (5/20), shorts face asymmetric squeeze risk if free cash flow inflects or management executes accretive buybacks.

🚀 Contrarian Squeeze Trigger #1

Established market leader in Health Care with deep daily trading liquidity.

🚀 Contrarian Squeeze Trigger #2

Options & Short-Covering Gamma: Reclaiming the 50-day SMA ($1.48) and Max Pain ($1.47) forces dealer call-delta covering toward $5.24.

🚀 Contrarian Squeeze Trigger #3

Forensic Repair Trigger: Halting share dilution (Disciplined Float (+0.72% YoY Shares)) or retiring high-cost debt immediately upgrades the SEC 10-K Forensic pillar.

🎲 LIVE PREDICTION MARKET ODDS TIED TO $PULM• $2.4M Crowd Pool • Kalshi / Polymarket Composite

Contract: “PULM Beats Next Quarter EPS Consensus (Dec 30, 2026) & Holds Above 200D SMA”

YES 36%NO 64%Trade / Inspect Odds →

VISUAL REVENUE-TO-PROFIT SANKEY WATERFALL • FY 2025 (10-K)

How PULM Turns Every Dollar of Sales Into Real Bottom-Line Profit

Free Cash Flow:$0 (0% FCF Margin)

Multi-Year SEC EDGAR XBRL Revenue, Net Profit & Free Cash Flow Trajectory

■ Revenue■ Net Profit■ Free Cash Flow

FY23

Rev $7.3M

FY24

Rev $7.8M

FY25

Rev $4.00B

Fiscal Year	Revenue	Gross Margin	Op Margin	Net Profit	Free Cash Flow	ROIC %
FY 2025	$4.00B	52%	-0.1%	-$5.2M	-$5.4M	-45%
FY 2024	$7.8M	52%	-80%	-$9.6M	-$11.1M	-45%
FY 2023	$7.3M	52%	-80%	-$14.1M	-$16.0M	-35%

ON-DEMAND RQD QUANT WORKSHOP • SPONSORED / PARTNER SPOTLIGHTHosted by Perry Belcher & Roarable Forensic Quant Desk

Red-Light Warning Desk: Spotting SEC Cash-Flow & Dilution Risks Before Downgrades (Featuring PULM)

✓Walkthrough of PULM's RQD Radar, SEC cash-conversion gap & downside invalidation levels
✓3 asymmetric Bear/Hedge frameworks when 10-year Treasury yields stay elevated
✓Includes nightly RQD rating-change & forensic signal email alerts on your tracked stocks

RQD INSIDER CLUB WAITLIST$49/YR PLANNED

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PULM // CANDLESTICK & AUTO-TRENDLINE WORKSTATION6M: +6.87%▼ DESCENDING CHANNEL

2026-11-03O $1.41H $1.41L $1.40C $1.40VOL 9.6K

RES: $1.72SUP: $1.31SMA50: $1.48SMA200: $1.70

PRIMARY-SOURCE FORENSICS, SECOND-ORDER LINKS & AI ANALYST DESK

PULM Dilution Monitor, Expectations Hurdle, Butterfly Connections & Policy Exposure

🦋 PULM Butterfly Map → + Track PULM →

Share Count & Dilution Monitor (#25)

Multi-year comparable XBRL diluted share count not disclosed (ETF or recent listing).

Reverse-DCF Expectations Hurdle (#30)

8.0%/yr Implied 5Y Growth

vs. +6.0% actual YoY revenue growth (assuming 9.25% cost of equity & 16.5x terminal multiple).

Ellis Vennor Setup Ledger (#33)

No active Ellis Vennor swing setup published on PULM today. View full Setup Ledger →

🦋 Documented & Second-Order Butterfly Connections Open Graph →

No direct multi-tier Butterfly edges indexed yet for PULM. Explore sector supply chains on /butterfly.

AI Analyst Theses, Washington Policy & Company Video

🎬 No recent verified company-specific video clip queued for PULM today (we never pad ticker pages with unrelated generic clips). Browse Macro Video Desk →

DETERMINISTIC MULTI-FACTOR EQUITY AUDIT • SEC EDGAR XBRL × RQD PEER BENCHMARK

📊 Quantitative Sector Peer Comparison, SEC Filing Delta & Investment FAQ (PULM)

Health Care Rank #584 of 1016 ⚔️ IMNN vs PULM Full Matrix →

1. Head-to-Head Health Care Peer Comparison (PULM vs. IMNN, GELS, ADXN, PCSA)

Industry: Biotechnology: Pharmaceutical Preparations (489 Tracked Issuers)

Across 1016 tracked Health Care securities in the Roarable RQD universe, Pulmatrix Inc. (PULM) ranks #584 by composite RQD confidence (36/100, grade D-) and #941 by equity capitalization ($5.1M). Within this direct 5-issuer industry benchmark cohort, PULM leads on earnings valuation at N/A trailing P/E, while PULM leads on capital efficiency and profitability with -35.0% ROIC and — gross margin. GELS currently holds the highest overall quantitative score in the immediate peer group at 54/100 (D+) compared with PULM at 36/100 (D-).

Ticker / Company	Roarable Grade	RQD Score	Trailing P/E	Gross Margin	ROIC	1D Change	Market Cap	Head-to-Head
PULM ACTIVE Pulmatrix Inc.	D-	36/100	—	—	-35.0%	-1.06%	$5.1M	Benchmark Subject
IMNN Imunon Inc.	E	31/100	—	—	-35.0%	+9.24%	$5.1M	/imnn-vs-pulm →
GELS Gelteq Limited	D+	54/100	—	—	—	-3.14%	$5.2M	/gels-vs-pulm →
ADXN Addex Therapeutics Ltd	D	48/100	—	—	—	+5.46%	$5.3M	/adxn-vs-pulm →
PCSA Processa Pharmaceuticals Inc.	D-	39/100	—	—	-35.0%	0.00%	$5.3M	/pcsa-vs-pulm →

2. Multi-Year SEC XBRL Revenue, Cash Flow & Balance-Sheet Trajectory (FY2023–FY2025)

SEC EDGAR 10-K • FILED 2025-12-31 • CIK 0001574235

In its most recent audited fiscal period (FY2025, filed 2025-12-31), Pulmatrix Inc. (PULM) reported GAAP revenue of $0 (-100.0% vs. FY2024 revenue of $7.8M , and -100.0% cumulative change since FY2023) , GAAP net income of -$5.2M, operating cash flow of -$5.4M, and free cash flow of -$5.4M (+51.1% YoY). On the balance sheet, PULM closed FY2025 with $4.1M in total assets against $0 in total debt (Altman Z-Score: N/A, Piotroski F-Score: 2/9).

Fiscal Period	Filing Date	Revenue	Net Income	Operating Cash Flow	Free Cash Flow	Total Assets	Total Debt
FY2025 (FY)	2025-12-31	$0	-$5.2M	-$5.4M	-$5.4M	$4.1M	—
FY2024 (FY)	2024-12-31	$7.8M	-$9.6M	-$10.7M	-$11.1M	$9.9M	—
FY2023 (FY)	2023-12-31	$7.3M	-$14.1M	-$16.0M	-$16.0M	—	—

3. PULM Data-Verified Investor FAQ (RQD Rating, Sector Peers, SEC Forensics & Technicals)

✓ SCHEMA.ORG FAQPAGE JSON-LD ENABLED

Is PULM stock a Buy, Hold, or Sell right now according to Roarable's RQD model?

How does PULM compare to IMNN and GELS in the Health Care sector?

What are the biggest fundamental strengths and SEC risk factors for PULM?

Where is PULM trading relative to its 50-day, 200-day, and 52-week technical levels?

PULM last traded at $1.40 (-1.06% on volume of 9,596 shares), positioning the stock -5.41% below its 50-day simple moving average ($1.48) and -17.65% below its 200-day simple moving average ($1.70). Across its 52-week range of $1.16 to $4.99, PULM sits at the 6.3% percentile with a 14-day RSI of 45.1 (NEUTRAL RANGE) and an implied next-earnings move of ±12.5% ($1.23 to $1.57).

PULM Investor FAQ & Complete 8-Part Research Index

100% OPEN ACCESS • SEC EDGAR × CBOE × FRED

How profitable is Pulmatrix Inc. (PULM)?

In FY 2025 (10-K), PULM converted $4.0B of revenue into a 52% gross margin, 0% operating margin, and $0 in free cash flow (0% FCF margin).

Direct Sub-Reports: PULM RQD Cockpit PULM 12M Forecast PULM Earnings & Move PULM Dividends & DRIP PULM Insiders & 13F PULM Whale Options PULM Profit Sankey PULM News & Why

ROARABLE RATING BRIEF • RQD 36/100 (D-) ✓ STAGE-C NUMBER FIREWALL VERIFIED

PULM — Pulmatrix Inc.: What the Facts Mean to a Prospective Investor

Engine: anthropic/claude-haiku-5.5

As of: 2026-11-02T15:53:13Z

Roarable Rating Brief: What This Means to a Prospective Investor

Per the Roarable RQD rating, PULM scores 36 out of 100 with a letter grade of D-, labeled "Roarable Sell — Vulnerable Balance Sheet & Flow." Across the five pillars, the Fundamental Cash Engine scores 6/20, reflecting a ROIC of -35% and an FCF yield of 0%; for an investor, this indicates the business is not currently converting capital into cash returns. Whale/13F Flow scores 5/20, pointing to weak institutional accumulation and options positioning. Insider Conviction scores 5/20, based on SEC Form 4 and Congressional PTR cluster flow. Macro Regime Fit scores 10/20, with a Beta of 1.0 and sector sensitivity noted. Forensic Balance Sheet scores 10/20, supported by an Altman Z-Score of 2.5, a Piotroski F-Score of 2/9, and a Debt/Equity ratio of 0.5. Taken together, the upside drivers in the source data are limited, while the valuation tradeoff is that the stock trades at a $1.42 price with a $5.2M market capitalization against sustained operating losses; the investor implication is elevated downside risk and fragility rather than a demonstrated cash engine. This is an analytical summary, not personalized advice.

Business

Pulmatrix Inc. is a NASDAQ-listed issuer in the Health Care sector, operating in the Biotechnology: Pharmaceutical Preparations industry. Per the profile, the company's market capitalization is recorded as $0.0B. Not available in source data: product lines, customer base, and specific revenue model details.

Financial Trend

Period	Revenue	Operating Income	Net Income	EPS	FCF	Cash	Debt
FY 2025	$0.0M	$-5.2M	$-5.2M	N/A	$-5.4M	$4.1M	N/A
FY 2024	$7.8M	$-9.8M	$-9.6M	N/A	$-11.1M	$9.5M	N/A
FY 2023	$7.3M	$-14.7M	$-14.1M	N/A	$-16.0M	N/A	N/A

Per the SEC financials, the company reported operating losses in every period shown, with FY 2025 revenue at $0.0M and FY 2024 revenue at $7.8M. Gross, operating, and net margins are each recorded at 0%, and ROIC is -35%. Per the Roarable RQD rating, the Altman Z-Score is 2.5 and the Piotroski F-Score is 2/9, with a Debt/Equity ratio of 0.5. Cash declined from $9.5M in FY 2024 to $4.1M in FY 2025 alongside negative free cash flow of $-5.4M.

Recent Catalysts & News Wire Analysis

Headlines in the news wire reference a registration for resale of up to 491,607 PULM shares, with the company receiving no proceeds.
Headlines reference preliminary votes supporting all eight proposals, including the Eos merger and related changes.
Headlines reference a Form 4 filing dated 30 October and an SEC filing dated Oct 23, 2026.
Headlines reference a Moleculin Biotech (MBRX) stock page, a related-name reference rather than a PULM-specific event.
Risk watch items: potential dilution from resale registration, pending merger-related changes, and continued operating losses. All news items carry a YELLOW light and MARKET WIRE impact label.
Per the Butterfly Supply-Chain Graph, the supply chain is listed as NONE, with no butterfly links and no proprietary signals.

Open Questions

What is the terms and timing of the Eos merger referenced in the news wire, and how would it change the company's operating profile?
What is the cash runway given $4.1M in FY 2025 cash against a $-5.4M FCF figure, and how would the resale registration affect share count?
What drives the FY 2025 revenue decline to $0.0M from $7.8M in FY 2024?
What is the current debt position, since debt is listed as N/A for all periods?
What are the company's products, pipeline, and customer relationships, given that none are described in the source data?

PULM Live News Feed, Press Releases & Catalyst Wire

Real-time company headlines, analyst actions, and sector developments for Pulmatrix Inc. (PULM) • Click "Debate This Headline" to argue it in the Roar Pit below

💬 Jump to PULM Debate Forum (3) ↓

🟡 MARKET WIRE TradingView • 19h ago

Pulmatrix, Inc. Estimates – NASDAQ:PULM

TradingView report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 22h ago

Up to 491,607 Pulmatrix (PULM) shares are registered for resale; the company gets no proceeds.

Stock Titan report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Investing.com UK • 1d ago

Form 4 Pulmatrix Inc For: 30 October By Investing.com

Investing.com UK report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Yahoo Finance Australia • 1d ago

Moleculin Biotech, Inc. (MBRX) stock price, news, quote and history

Yahoo Finance Australia report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE TradingView • 1d ago

PULM: Preliminary votes supported all eight proposals, including the Eos merger and related changes

TradingView report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Stock Titan • 1d ago

Pulmatrix, Inc. SEC Filing (Oct 23, 2026)

Stock Titan report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Investing.com UK • 1d ago

Form 4 Pulmatrix Inc For: 22 October By Investing.com

Investing.com UK report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🟡 MARKET WIRE Minichart • 1d ago

Pulmatrix Stockholders Approve Eos Merger Share Issuance, Reverse Split

Minichart report covering Pulmatrix Inc. (PULM) market action, institutional positioning, and fundamental catalysts.

Read Full Source ↗

🔥 THE ROAR PIT • LIVE COMMUNITY DEBATE 3 Active Posts & Replies

PULM Bull vs. Bear Conversation Board — What's Your Call at $1.40?

🐂 33% BULLISH CONVICTION COMMUNITY TUG-OF-WAR ON PULM 🐻 67% BEARISH CONVICTION

RO RoarDesk_Moderator Roarable Research Desk 🐻 BEARISH 🎯 Target: $1.25 (-12.0%)

📌 Pinned Debate

🔥 Official Bull vs. Bear Debate: Is PULM (D- • RQD 36/100) a Buy at $1.42?

Welcome to the PULM (Pulmatrix Inc.) Roar Pit. Current RQD Composite is 36/100 (Roarable Sell — Vulnerable Balance Sheet & Flow) in Biotechnology: Pharmaceutical Preparations. Bulls point to operating leverage and sector positioning, while bears focus on macro rate sensitivity and margin execution. Pick your side (🐂 Bull or 🐻 Bear) and drop your price target below.

SK SkepticalCFA Forensic Accounting Watch 🐻 BEARISH 🎯 Target: $1.08 (-23.9%)

Spot @ $1.42

Pump the brakes on PULM — check the valuation vs. margin headwinds

Everyone in here is repeating the bull case on PULM, but look at what you are paying: current EV/EBITDA multiples with tightening sector spreads. Unless Pulmatrix Inc. expands free cash flow yield next quarter, I would rather wait for a pullback closer to the 200-day moving average before touching this.

DE DeltaGamma_99 Verified K Arena Trader 🐂 BULLISH 🎯 Target: $1.73 (+21.8%)

Spot @ $1.42

PULM cash flow & RQD setup is being underpriced by the Street here

Looking at the 5-pillar RQD breakdown on PULM, the market is fixating on short-term headline noise in Biotechnology: Pharmaceutical Preparations and ignoring the balance sheet and cash flow trajectory. At $1.42 (52-wk range $1.16 - $4.99), any beat on forward guidance forces shorts and underweight funds to chase.