Pulse Biosciences (PLSE) AI Stock Analysis

• Market Cap: $1.03B
• Dividend Yield: N/A
• Average Volume (3M): 154.73K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.52
• Revenue Growth: N/A
• EPS Growth: -1.00%
• Country: US
• Employees: 75
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Instruments & Supplies
• EPS (TTM): -0.17
• Shares Outstanding: 67,273,865
• 10 Day Avg. Volume: 139,695
• 30 Day Avg. Volume: 154,726
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.94
• Enterprise Value/Revenue: 1.17K
• Enterprise Value/Gross Profit: -1.82K
• Enterprise Value/Ebitda: -15.43
• 1Y Price Target: $22.00
• Price Target Upside: 44.26% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 44 Neutral
• Price Target: ―

Pulse Biosciences receives a low overall score due to persistent financial challenges such as continuous losses and cash burn. While technical indicators show some positive momentum, the valuation remains unattractive due to negative earnings. The earnings call provided a balanced view with notable advancements in technology and strengthened finances, but increased operational costs remain a concern. The CFO appointment is a positive strategic move but does not significantly affect the overall score.

Pulse Biosciences Business Overview & Revenue Model

Company Description

Pulse Biosciences, Inc. operates as a novel bioelectric medicine company. It offers CellFX System, a tunable, software-enabled, and console-based platform that delivers nano second duration pulses of electrical energy to non-thermally clear targeted cells while sparing adjacent non-cellular tissue to treat a various medical condition by using its Nano-Pulse Stimulation technology. The company was formerly known as Electroblate, Inc. and changed its name to Pulse Biosciences, Inc. in December 2015. Pulse Biosciences, Inc. was incorporated in 2014 and is headquartered in Hayward, California.

How the Company Makes Money

Pulse 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 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.

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.

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.

Breakdown	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	0.00	0.00	700.00K	1.42M	0.00
Gross Profit	0.00	-1.21M	-11.24M	-550.00K	-665.00K
EBITDA	-52.41M	-42.37M	-56.70M	-61.87M	-48.87M
Net Income	-53.59M	-42.21M	-58.95M	-63.16M	-49.74M
Balance Sheet
Total Assets	132.46M	59.15M	77.88M	54.25M	41.29M
Cash, Cash Equivalents and Short-Term Investments	118.04M	44.37M	61.14M	28.61M	20.48M
Total Debt	8.90M	9.14M	75.96M	11.25M	11.36M
Total Liabilities	17.60M	14.79M	80.13M	18.56M	18.40M
Stockholders Equity	114.86M	44.36M	-2.25M	35.69M	22.89M
Cash Flow
Free Cash Flow	-36.47M	-33.16M	-47.41M	-54.53M	-35.81M
Operating Cash Flow	-36.34M	-33.04M	-47.01M	-54.10M	-35.37M
Investing Cash Flow	-125.00K	-121.00K	-401.00K	7.56M	10.04M
Financing Cash Flow	110.14M	16.39M	79.94M	62.69M	30.89M

Pulse Biosciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 15.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: 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 15.25 is above the 20-day moving average (MA) of 15.18, below the 50-day MA of 15.75, and below the 200-day MA of 17.38, indicating a bearish trend. The MACD of -0.21 indicates Negative momentum. The RSI at 43.01 is Neutral, neither overbought nor oversold. The STOCH value of 72.26 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for PLSE.

Pulse Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
UTMD	76 Outperform	$184.63M	15.20	10.39%	2.18%	-16.64%	―
STAA	63 Neutral	$1.33B	55.81	-25.55%	―	-14.44%	-557.38%
BLFS	59 Neutral	$991.62M	―	-3.29%	―	-23.12%	97.46%
OSUR	54 Neutral	$233.38M	25.27	-12.65%	―	-49.35%	-285.61%
Sector *	47 Neutral	C$187.88M	-2.96	-23.77%	3.19%	17.07%	2.49%
KMTS	45 Neutral	$814.39M	―	-130.38%	―	115.05%	-21.37%
PLSE	44 Neutral	$1.03B	―	-77.86%	―	―	-1.00%

Pulse Biosciences Corporate Events

Pulse Biosciences Strengthens Leadership with New CFO Appointment

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.