Capnography provides important information about pulmonary function and ventilation by measuring exhaled carbon dioxide levels. It can detect life-threatening respiratory conditions faster than pulse oximetry alone. Capnography works by measuring the concentration of carbon dioxide in exhaled breath, which reflects alveolar gas exchange and pulmonary blood flow. The capnography waveform provides data on respiratory rate, exhaled carbon dioxide levels, and can reveal issues like endobronchial intubation, respiratory failure, or equipment malfunction.