Lyric discussion by TerraTempus25 

Cover art for Lungs lyrics by I Heart Hiroshima

I'm probably under-analyzing, but to me it seems like this song is about a missed opportunity to be in a relationship. Perhaps the two people involved both liked each other but didn't want to say anything in fear that the other person didn't feel the same way.

Either way, what a fantastic song. Absolutely beautiful.

Song Meaning