Set your Instant Pot to ‘saute’ mode, then add the bacon to the pot and cook until crisp. Remove the bacon from the pot and set aside.
Add the chicken broth to the pot and whisk to scrape up the browned bits from the bacon, then add the pumpkin, coconut milk, 1 teaspoon salt, sage, ginger, and pepper and whisk to combine.
Place the lid on the Instant Pot and make sure it is sealed, then set to cook for 7 minutes. Once the timer goes off, you can either release the pressure manually or let it release naturally.
Stir the lemon juice into the soup and taste for seasoning, then add more salt and pepper, if needed. Serve with crumbled bacon and fresh chopped sage, if desired.
If using homemade pumpkin puree, reduce the amount of broth by 1/2 cup.
To make on the stovetop: make the bacon in a pot on the stove, then remove it from the pan. Add all ingredients other than lemon juice to the pot, then cover and let cook for 15-20 minutes. Stir in the lemon juice and taste for seasoning, then serve with bacon and fresh sage.