Pulse Biosciences Q3 2025 Earnings Call Highlights

Pulse Biosciences Inc ((PLSE)) has held its Q3 earnings call. Read on for the main highlights of the call.

Pulse Biosciences Inc. recently held its Q3 2025 earnings call, revealing a mixed sentiment among stakeholders. While the company celebrated significant strides in clinical trials and regulatory approvals, as well as promising initial revenues and positive clinical outcomes, financial challenges were also evident. Increased costs and cash usage contributed to a higher net loss, painting a complex picture of the company’s current financial health.

Progress in nPulse Vybrance System Adoption

The nPulse Vybrance percutaneous electrode system for soft tissue ablation is gaining traction, demonstrating a strong product market fit during its pilot program. With over 200 patients treated, the procedure volumes have seen a sequential increase this quarter, signaling a positive reception in the market.

Regulatory and Clinical Trial Advancements

Pulse Biosciences achieved a significant milestone by receiving FDA investigational device exemption approval for the nPulse cardiac surgery system aimed at treating atrial fibrillation. The initiation of the NANOCLAMP AF study marks the first FDA-approved PFA study for a surgical cardiac ablation device, underscoring the company’s innovative progress in medical technology.

Positive Clinical Outcomes for nPulse 360 Catheter

The nPulse 360 Catheter has shown promising initial clinical outcomes in Europe, reinforcing its potential in advancing atrial fibrillation treatment. With 150 patients enrolled in the ongoing feasibility study, the catheter’s performance is being closely monitored for further developments.

Initial Revenues Generated

Pulse Biosciences has started to recognize initial revenues, amounting to $86,000 from nPulse capital and Vybrance disposable sales during a limited market release. This marks an important step in the company’s journey towards financial growth and market presence.

Increased Costs and Net Loss

The company’s financials revealed a rise in total GAAP costs and expenses by $6.8 million, reaching $20.5 million compared to the previous year. Consequently, the GAAP net loss increased to $19.4 million from $12.7 million in the prior year period, highlighting the financial pressures faced by the company.

Cash Usage Increase

Cash used in operating activities increased significantly to $13 million for the third quarter, up from $9 million in the previous year. This increase in cash usage reflects the company’s ongoing investments in its growth and development strategies.

Forward-Looking Guidance

Looking ahead, Pulse Biosciences is focused on advancing its clinical trials, including the PRECISE-BTN study for benign thyroid nodules and the IDE pivotal study for the nPulse cardiac surgical system. The company plans to enroll up to 136 patients across 20 sites and is progressing with European feasibility studies for the nPulse 360 Catheter. With an emphasis on growing disposables and system sales, the company aims to expand market access and improve patient outcomes while maintaining its commercial headcount.

In conclusion, Pulse Biosciences Inc.’s Q3 2025 earnings call painted a picture of a company at a critical juncture. While significant progress in clinical trials and regulatory approvals offers hope for future growth, the financial challenges of increased costs and cash usage cannot be ignored. Stakeholders will be keenly watching how the company navigates these challenges while capitalizing on its recent advancements.