Education
About Us
Working with TipRanks
Follow Us
Pulse Biosciences (PLSE)
NASDAQ:PLSE
Top Page
Pulse Biosciences
(NASDAQ:PLSE)
Rating:44Neutral
Price Target:―
Pulse Biosciences (PLSE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.14B
Dividend YieldN/A
Average Volume (3M)156.97K
Price to Earnings (P/E)―
Beta (1Y)1.60
Revenue GrowthN/A
EPS Growth-33.24%
CountryUS
Employees75
SectorHealthcare
Sector Strength47
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)-0.20
Shares Outstanding67,278,340
10 Day Avg. Volume190,579
30 Day Avg. Volume156,966
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap0.81
Enterprise Value/Revenue551.14
Enterprise Value/Gross Profit61.14K
Enterprise Value/Ebitda-13.05
Forecast
1Y Price Target
$22.00Price Target Upside41.39% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
Pulse Biosciences Business Overview & Revenue Model
Company DescriptionPulse Biosciences, Inc. is a medical technology company that focuses on developing and commercializing innovative therapeutic treatments leveraging its proprietary Nano-Pulse Stimulation (NPS) technology. Operating within the healthcare and medical device sectors, Pulse Biosciences aims to provide non-thermal, cellular-specific treatments for a range of dermatological and oncological conditions. The company's core product, the CellFX System, is designed to deliver precise energy pulses to treat benign and malignant lesions on the skin.
How the Company Makes MoneyPulse Biosciences generates revenue primarily through the sale and leasing of its CellFX System to dermatologists and other healthcare providers. The company may also earn revenue from service agreements, training, and support services related to the use of its systems. Additionally, Pulse Biosciences could engage in strategic partnerships or collaborations with other healthcare organizations to further expand the application of its technology and enhance its market presence. Key factors contributing to its earnings include the adoption and integration of its technology within clinical practices and potential expansion into international markets.
Pulse Biosciences Earnings Call Summary
Earnings Call Date:Aug 12, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 17, 2025
Earnings Call Sentiment Neutral
Pulse Biosciences reported significant progress in its market development programs and positive clinical outcomes, particularly in soft tissue ablation and cardiac device development. However, the company faces rising operating expenses and net losses, along with expected increases in cash use. Despite these challenges, the company's strong cash position and upcoming revenue generation provide a positive outlook.Q2-2025 Updates
Positive Updates
Progress in Market Development Programs
Pulse Biosciences is advancing its nsPFA technology in three market development programs, with expanded pilot utilization and positive clinical results in Europe. The company has submitted two IDEs for regulatory goals.
Soft Tissue Ablation Success
The nsPFA percutaneous electrode system is FDA cleared for the ablation of soft tissue, with over 140 patients treated in a pilot program and positive outcomes reported. It offers a minimally invasive alternative to thyroidectomy.
Cardiac Surgical Clamp Advancements
The nsPFA surgical ablation clamp has received Breakthrough Device designation and is in the FDA's TAP program. A pivotal trial is planned with 150 patients, supported by positive clinical outcomes from European studies.
Financial Strength
As of June 30, 2025, cash and cash equivalents totaled $106.3 million, up from $26.2 million a year ago. Expected revenue generation from the percutaneous electrode in the second half of 2025.
Cardiac Catheter Feasibility Study
Over 140 patients treated in Europe with positive outcomes. The 360 cardiac catheter system demonstrates decreased procedure times and compatibility with major mapping systems.
Negative Updates
Increased Operating Expenses
Total GAAP costs and expenses rose by $8.5 million to $20.3 million compared to the prior year, driven by administrative expenses and stock-based compensation.
GAAP and Non-GAAP Net Losses
GAAP net loss was $19.2 million, up from $11.4 million in the prior year. Non-GAAP net loss was $13.7 million, compared to $9 million in the prior year.
Expected Increase in Cash Use
Quarterly cash use is expected to rise due to investments in commercial infrastructure and IDE clinical studies for cardiac devices.
Company Guidance
During the Pulse Biosciences Second Quarter 2025 Earnings Conference Call, the company provided guidance on its progress and future plans. The CEO, Paul LaViolette, announced significant advancements in their Nanosecond Pulsed-Field Ablation (nsPFA) technology, highlighting its application in soft tissue ablation and cardiac procedures. The company has expanded pilot utilization for benign thyroid disease and submitted two Investigational Device Exemption (IDE) applications for atrial fibrillation treatment and a cardiac surgical clamp. Over 140 patients have been treated with their percutaneous electrode system, with a focus on transitioning procedures to ambulatory surgery centers for optimal patient access and reimbursement. Financially, the second quarter saw GAAP costs and expenses rise to $20.3 million, primarily due to expanded organizational efforts, with a GAAP net loss of $19.2 million. The company ended the quarter with $106.3 million in cash and plans to increase cash use in the second half of 2025 as they invest in commercial infrastructure and clinical studies. Initial revenue from the percutaneous electrode is anticipated later in the year, with the company exploring various purchase models to suit customer needs.Pulse Biosciences Financial Statement Overview
Summary
Pulse Biosciences faces significant financial challenges, marked by persistent losses, lack of revenue growth, and high cash burn. The financial health is buoyed by equity financing, yet this raises sustainability concerns without a clear path to operational profitability. Strategic adjustments are essential to improve revenue generation and operational efficiency, ensuring long-term viability.Income Statement
Pulse Biosciences has consistently struggled with profitability, as evidenced by negative net income and EBIT across all years. The absence of revenue in recent years highlights significant challenges in achieving market penetration and product adoption. The net profit margin is negative due to sustained losses, indicating a need for strategic pivots or operational improvements. The company has not shown revenue growth, which is critical for future viability.20
Very Negative
Balance Sheet
The balance sheet shows a relatively strong equity position with stockholders' equity increasing over recent years, supported by substantial financing inflows. The company maintains a low debt-to-equity ratio, indicating lower financial leverage and potential for future borrowing if needed. However, the negative equity in 2022 and fluctuating asset base reflect operational instability. The equity ratio has been volatile, reflecting the financial restructuring efforts undertaken by the company.30
Negative
Cash Flow
The cash flow statement indicates persistent negative operating cash flow, which is a critical concern for sustainability. Although there has been substantial financing inflow, this is primarily used to cover operational deficits. There is no positive free cash flow growth, and the free cash flow to net income ratio reflects ongoing cash burn. Operating cash flow to net income is negative, indicating inefficiencies in cash generation from core activities.25
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.66M | 0.00 | 0.00 | 700.00K | 1.42M | 0.00 |
| Gross Profit | 15.00K | -1.18M | -1.21M | -11.24M | -550.00K | -665.00K |
| EBITDA | -70.28M | -52.41M | -42.37M | -56.70M | -61.87M | -48.87M |
| Net Income | -68.03M | -53.59M | -42.21M | -58.51M | -63.66M | -49.74M |
Balance Sheet | ||||||
| Total Assets | 120.25M | 132.46M | 59.15M | 77.88M | 54.25M | 41.29M |
| Cash, Cash Equivalents and Short-Term Investments | 106.35M | 118.04M | 44.37M | 61.14M | 28.61M | 20.48M |
| Total Debt | 8.24M | 8.90M | 9.14M | 75.96M | 11.25M | 11.36M |
| Total Liabilities | 15.76M | 17.60M | 14.79M | 80.13M | 18.56M | 18.40M |
| Stockholders Equity | 104.49M | 114.86M | 44.36M | -2.25M | 35.69M | 22.89M |
Cash Flow | ||||||
| Free Cash Flow | -44.73M | -36.47M | -33.16M | -47.41M | -54.53M | -35.81M |
| Operating Cash Flow | -44.50M | -36.34M | -33.04M | -47.01M | -54.10M | -35.37M |
| Investing Cash Flow | -259.00K | -125.00K | -121.00K | -401.00K | 7.56M | 10.04M |
| Financing Cash Flow | 124.91M | 110.14M | 16.39M | 79.94M | 62.69M | 30.89M |
Pulse Biosciences Technical Analysis
Negative
15.56
Price Trends
15.50
Positive
16.20
Negative
17.31
Negative
Market Momentum
0.28
Negative
50.01
Neutral
46.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For PLSE, the sentiment is Negative. The current price of 15.56 is below the 20-day moving average (MA) of 15.74, above the 50-day MA of 15.50, and below the 200-day MA of 17.31, indicating a neutral trend. The MACD of 0.28 indicates Negative momentum. The RSI at 50.01 is Neutral, neither overbought nor oversold. The STOCH value of 46.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PLSE.
Pulse Biosciences Risk Analysis
Pulse Biosciences disclosed 61 risk factors in its most recent earnings report. Pulse Biosciences reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Pulse Biosciences Peers Comparison
Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $194.72M | 16.14 | 10.39% | 1.96% | -16.64% | -13.64% | |
60 Neutral | $1.23B | ― | -5.98% | ― | -18.61% | 92.36% | |
57 Neutral | $254.52M | 25.27 | -12.65% | ― | -49.35% | -285.61% | |
56 Neutral | $1.36B | 55.81 | -25.55% | ― | -32.59% | -667.81% | |
51 Neutral | $7.81B | -0.22 | -40.01% | 2.29% | 21.48% | -2.11% | |
45 Neutral | $951.75M | ― | -130.38% | ― | 115.05% | -21.37% | |
44 Neutral | $1.14B | ― | -103.50% | ― | ― | -33.24% |
* Healthcare Sector Average
Performance Comparison
PLSE
Pulse Biosciences
15.56
-3.71
-19.25%
OSUR
Orasure Technologies
3.29
-1.24
-27.37%
STAA
Staar Surgical
27.40
-4.74
-14.75%
UTMD
Utah Medical Products
62.06
-4.50
-6.76%
BLFS
BioLife Solutions
24.92
-1.00
-3.86%
KMTS
Kestra Medical Technologies Ltd.
17.71
-3.28
-15.63%
Pulse Biosciences Corporate Events
Executive/Board ChangesBusiness Operations and Strategy
Pulse Biosciences Strengthens Leadership with New CFO Appointment
Positive
Feb 4, 2025
Pulse Biosciences announced the appointment of Jon Skinner as Chief Financial Officer, effective February 3, 2025, to bolster its executive team as it scales the commercialization of its CellFX nanosecond PFA platform. Skinner, with extensive experience in financial leadership across healthcare and industrial sectors, brings strategic insights that are expected to aid in advancing Pulse Biosciences’ operational excellence and market positioning.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.