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Pulse Biosciences
(NASDAQ:PLSE)
Pulse Biosciences (PLSE) vs. SPDR S&P 500 ETF (SPY)
Pulse Biosciences Business Overview & Revenue Model
Pulse Biosciences Earnings Call Summary
Pulse Biosciences Financial Statement Overview
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 350.00K | 0.00 | 0.00 | 700.00K | 1.42M |
| Gross Profit | -1.26M | 0.00 | -1.21M | -11.24M | -550.00K |
| EBITDA | -71.71M | -55.08M | -42.37M | -56.70M | -61.87M |
| Net Income | -72.78M | -53.59M | -42.21M | -58.51M | -63.66M |
Balance Sheet | |||||
| Total Assets | 96.11M | 132.46M | 59.15M | 77.88M | 54.25M |
| Cash, Cash Equivalents and Short-Term Investments | 80.73M | 118.04M | 44.37M | 61.14M | 28.61M |
| Total Debt | 7.53M | 8.90M | 9.14M | 75.96M | 11.25M |
| Total Liabilities | 15.46M | 17.60M | 14.79M | 80.13M | 18.56M |
| Stockholders Equity | 80.66M | 114.86M | 44.36M | -2.25M | 35.69M |
Cash Flow | |||||
| Free Cash Flow | -54.44M | -36.47M | -33.16M | -47.41M | -54.53M |
| Operating Cash Flow | -54.12M | -36.34M | -33.04M | -47.01M | -54.10M |
| Investing Cash Flow | -335.00K | -125.00K | -121.00K | -401.00K | 7.56M |
| Financing Cash Flow | 17.15M | 110.14M | 16.39M | 79.94M | 62.69M |
Pulse Biosciences Technical Analysis
Pulse Biosciences Risk Analysis
Pulse Biosciences Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
63 Neutral | $1.17B | -352.26 | -5.20% | ― | -18.82% | 92.56% | |
55 Neutral | $1.24B | -21.28 | 1.69% | ― | -9.49% | 58.97% | |
52 Neutral | $1.27B | -17.34 | -86.99% | ― | ― | -40.63% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | $989.86M | -10.17 | -24.65% | ― | -32.42% | -540.37% | |
45 Neutral | $1.55B | -1.36 | -46.15% | ― | -3.43% | 38.98% | |
42 Neutral | $182.64M | -4.71 | -27.19% | ― | 30.55% | -340.19% |
Pulse Biosciences Corporate Events
On February 27, 2026, Pulse Biosciences, Inc. announced that Chief Commercial Officer Kevin P. Danahy resigned from the company, effective immediately, with the board noting his departure was not due to any disagreement over operations, policies, or accounting practices. The company highlighted Danahy’s role as a key member of senior management and its early commercialization efforts, signaling a notable change in its commercial leadership but no underlying dispute or governance concern tied to his exit.
The most recent analyst rating on (PLSE) stock is a Hold with a $19.50 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On February 19, 2026, Pulse Biosciences entered into a new equity distribution agreement with TD Securities (USA) LLC, allowing the company to sell up to approximately $60 million of its common stock from time to time in at-the-market and other permitted transactions under its existing shelf registration. The company is not obligated to sell any shares, can suspend offers at its discretion, and will pay TD Cowen up to a 3% commission on gross sales, positioning Pulse Biosciences with a refreshed, flexible equity financing channel after terminating a prior at-the-market offering program on February 18, 2026 that still had the same dollar amount remaining unsold.
The termination of the earlier equity distribution agreement and immediate establishment of the new program with TD Cowen effectively roll over the unused capacity for future issuance, helping the company preserve access to incremental capital without committing to a specific financing timeline. This structure may influence shareholder dilution over time, depending on market conditions and the extent to which management chooses to utilize the program for funding its ongoing activities and potential growth initiatives.
The most recent analyst rating on (PLSE) stock is a Buy with a $30.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On February 5, 2026, Pulse Biosciences reported 6- and 12‑month results from its first‑in‑human feasibility study of the nPulse Cardiac Catheter System for treating atrial fibrillation, with data presented at the 31st Annual AF Symposium in Boston. In a 150‑patient cohort treated at European centers, the endocardial catheter ablation device, designed to deliver circumferential ablation using proprietary nanosecond PFA energy, achieved 100% procedural success among evaluable patients at six months (75/75) and 96% at 12 months (45/47), with an average of 16.1 applications per procedure, relatively short procedure and fluoroscopy times, and a low 1.3% rate of serious adverse events related to the primary safety endpoint. Company and clinical leaders characterized the results as demonstrating an efficient workflow, durable pulmonary vein isolation, and a favorable safety profile versus typical atrial fibrillation recurrence expectations, positioning the nPulse system as a potentially first‑in‑class and highly differentiated catheter ablation platform as Pulse Biosciences advances its clinical program.
The most recent analyst rating on (PLSE) stock is a Buy with a $25.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On January 14, 2025, Pulse Biosciences, Inc. announced that it had posted an updated investor presentation on its website, detailing recent progress in its ongoing product development programs for the nPulse Vybrance Percutaneous Electrode, the nPulse Cardiac Clamp and the nPulse Cardiac Catheter. The investor deck, dated as of January 2026, is intended for use in communications with investors and analysts and underscores the company’s efforts to advance and showcase its cardiac-focused technology pipeline, offering stakeholders a consolidated view of its development trajectory while emphasizing that the materials are summary in nature and subject to standard securities law limitations on liability and updating obligations.
The most recent analyst rating on (PLSE) stock is a Hold with a $14.50 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On January 8, 2026, Pulse Biosciences elected veteran healthtech executive Maria Sainz to its board of directors and appointed her to the audit committee, with the addition formally announced in a January 9, 2026 press release. Sainz, currently president and CEO of portable MRI maker Hyperfine, brings more than three decades of experience leading public and venture-backed medical device companies through clinical, regulatory, financing and M&A milestones, and will receive standard non-employee director cash retainers, the option to convert retainers into equity, reimbursement of board-related expenses, and time-vested stock option grants that further align her incentives with shareholders. The appointment adds deep commercialization and strategic expertise as Pulse advances its first three nsPFA-based programs through key clinical, regulatory and commercial milestones, underscoring the company’s intention to strengthen governance and bolster its ability to compete and scale in interventional and surgical device markets.
The most recent analyst rating on (PLSE) stock is a Hold with a $14.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On December 18, 2025, Pulse Biosciences announced that the U.S. Food and Drug Administration approved its Investigational Device Exemption, enabling the company to begin the NANOPULSE-AF clinical study of its nPulse Cardiac Catheter Ablation System for treating recurrent, drug-resistant, symptomatic paroxysmal atrial fibrillation. The single-arm, multicenter, prospective study will enroll up to 145 patients across as many as 30 sites, including three outside the U.S., to evaluate the safety and effectiveness of the nsPFA-based catheter, which is designed to deliver rapid, circumferential pulmonary vein isolation with lower total energy and potentially reduced collateral injury, building on positive initial results from an ongoing European feasibility study and marking a key milestone in the company’s push to establish its next-generation ablation technology in the global electrophysiology market.
The most recent analyst rating on (PLSE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On December 9, 2025, Pulse Biosciences, Inc. conducted its 2025 Annual Meeting of Stockholders virtually. During the meeting, stockholders elected six directors to serve until the 2026 meeting, ratified Deloitte & Touche LLP as the independent accounting firm for 2025, approved executive compensation, and decided to hold future advisory votes on executive compensation every three years.
The most recent analyst rating on (PLSE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.
On December 9, 2025, Pulse Biosciences announced a research collaboration with The University of Texas MD Anderson Cancer Center to explore the use of its nPulse™ Vybrance™ Percutaneous Electrode System for treating thyroid cancers. The FDA has approved the Investigational Device Exemption for this first-in-human clinical feasibility study, which will begin in early 2026, involving 30 subjects across two sites. This collaboration aims to assess the safety and effectiveness of nPulse technology in treating papillary thyroid microcarcinoma, with ongoing preclinical studies on anaplastic thyroid carcinoma, a particularly deadly cancer. The nonthermal mechanism of nsPFA energy is highlighted for its potential to minimize scarring and damage to surrounding structures, positioning it as a promising treatment for both benign and malignant thyroid tumors.
The most recent analyst rating on (PLSE) stock is a Buy with a $22.00 price target. To see the full list of analyst forecasts on Pulse Biosciences stock, see the PLSE Stock Forecast page.