Pulsar Helium, Inc. (PLSR) AI Stock Analysis

• Market Cap: C$261.19M
• Dividend Yield: N/A
• Average Volume (3M): 348.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.25
• Revenue Growth: N/A
• EPS Growth: 74.10%
• Country: CA
• Employees: N/A
• Sector: Technology
• Sector Strength: 88
• Industry: Industrial Materials
• EPS (TTM): N/A
• Shares Outstanding: 170,713,350
• 10 Day Avg. Volume: 358,700
• 30 Day Avg. Volume: 348,625
• PEG Ratio: 0.06
• Price to Book (P/B): -208.21
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -3.45
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 54 Neutral
• Price Target: C$1.50 ▼(-1.96% Downside)

The score is held back primarily by weak financial performance (pre-revenue operations, persistent losses, negative equity, and rising cash burn). This is partially offset by strong technical strength with the stock trading above all key moving averages and positive momentum indicators. Valuation remains constrained by negative earnings and no dividend support.

Positive Factors

Low reported debt / low leverage

Zero reported debt across 2023–2025 reduces near-term solvency pressure and interest obligations, giving management flexibility to prioritize exploration and financing choices. This structural low-leverage position supports resilience during multi-stage resource development cycles.

Focused helium exploration business model

A clear, specialist strategy in helium exploration creates durable optionality: successful discoveries convert exploration value into production assets. Structural industry demand for helium and the firm’s targeted asset strategy can yield long-term competitive positioning if exploration converts to reserves.

Rising asset base (2023–2025)

Growing total assets reflect capital deployed into exploration and property accumulation rather than passive decline, indicating progress in building resource-stage capabilities. A larger asset base can strengthen future development optionality and support potential project monetization strategies.

Negative Factors

Pre-revenue operations

Operating with no revenue means the company cannot self-fund exploration or development from operations, creating structural dependence on external capital. Over the medium term this elevates dilution and execution risk until proven production or monetizable assets are established.

Accelerating cash burn and negative free cash flow

Rapidly increasing operating and free cash outflows materially raise funding and continuity risk over coming months. Sustained negative cash generation forces frequent capital raises or spending cuts, constraining long-term investment choices and increasing dilution risk for shareholders.

Negative shareholders' equity / thin capital cushion

Persistently negative equity signals cumulative losses and a thin capital buffer to absorb further deficits. This structural weakness limits financial flexibility, can hinder access to traditional financing, and increases the likelihood of equity dilution or more costly funding options over the medium term.

Pulsar Helium, Inc. Business Overview & Revenue Model

Company Description

Pulsar Helium Inc. engages in the acquisition, exploration, and development of helium properties in the United States and Greenland. Its flagship project is the Topaz Project covering an area of 3,132 acres and located in Lake County, Minnesota. The company was formerly known as Pulsar Holdings Inc. and changed its name to Pulsar Helium Inc. in October 2022. Pulsar Helium Inc. was incorporated in 2022 and is based in White Rock, Canada.

How the Company Makes Money

Pulsar Helium, Inc. makes money by exploring and developing helium reserves and selling the extracted helium to various industries. The company's revenue model is primarily based on the sale of helium gas, which is used in applications such as MRI machines, semiconductor manufacturing, and scientific research. Key revenue streams include contracts with industrial gas distributors and direct sales to large-scale users of helium. Additionally, the company may form strategic partnerships with other exploration and production companies to enhance its resource development capabilities and market reach.

Pulsar Helium, Inc. Financial Statement Overview

Summary

Pre-revenue with no reported revenue across years, sizable net losses (improving in 2025 vs. 2024 but still large), and accelerating operating/free cash outflows through 2025 indicate high funding/continuity risk. Low reported debt helps, but negative equity in most periods remains a key balance-sheet weakness.

Income Statement

The company is still pre-revenue (revenue is 0 across all reported years), so profitability is entirely driven by operating spend. Losses have expanded materially over time: net loss moved from about -$0.5M (2022) to -$2.3M (2023), then widened sharply to roughly -$20.3M (2024) before improving to about -$9.6M (2025). While the latest year shows a smaller loss than 2024, the overall trajectory reflects heavy investment and limited operating leverage until revenue begins.

Balance Sheet

Balance sheet leverage appears low based on reported total debt being 0 in 2023–2025 (and modest debt in 2021–2022), which reduces near-term solvency pressure from borrowings. However, stockholders’ equity is weak and has been negative in most periods (notably around -$3.0M in 2024 and about -$0.2M in 2025), signaling cumulative losses and a thinner capital cushion. Total assets increased to roughly $2.4M in 2025 from ~$1.7M in 2023, but negative equity remains a key risk factor.

Cash Flow

Cash burn is substantial and accelerating versus earlier years: operating cash flow was about -$2.4M (2023), -$8.0M (2024), and -$10.9M (2025), with free cash flow also deeply negative (about -$11.5M in 2025). The cash flow profile is consistent with a development-stage company funding operations ahead of revenue, but the increasing outflows raise funding/continuity risk unless capital is raised or spending moderates. Free cash flow is roughly in line with net losses (free cash flow to net income around ~1.0 in 2023–2025), indicating losses are largely cash-based rather than purely accounting-driven.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	-53.60K	-53.60K	0.00	0.00	0.00	0.00
EBITDA	-9.86M	-9.40M	-10.33M	-1.88M	-51.49K	0.00
Net Income	-9.65M	-9.65M	-20.35M	-2.31M	-490.34K	-14.55K
Balance Sheet
Total Assets	2.42M	2.42M	1.94M	1.68M	245.69K	109.67K
Cash, Cash Equivalents and Short-Term Investments	1.13M	1.13M	1.23M	1.21M	92.26K	31.35K
Total Debt	0.00	0.00	0.00	0.00	120.00K	120.00K
Total Liabilities	2.61M	2.61M	4.98M	1.08M	276.65K	139.64K
Stockholders Equity	-190.03K	-190.03K	-3.03M	606.59K	-30.95K	-29.97K
Cash Flow
Free Cash Flow	-11.46M	-11.48M	-8.23M	-2.63M	-407.00	-11.66K
Operating Cash Flow	-10.90M	-10.92M	-7.96M	-2.42M	-407.00	-11.66K
Investing Cash Flow	-557.39K	-558.67K	-278.11K	-206.00K	149.00	0.00
Financing Cash Flow	11.36M	11.38M	8.26M	3.74M	327.00	41.69K

Pulsar Helium, Inc. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 1.53
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:PLSR, the sentiment is Positive. The current price of 1.53 is above the 20-day moving average (MA) of 1.38, above the 50-day MA of 0.99, and above the 200-day MA of 0.67, indicating a bullish trend. The MACD of 0.20 indicates Negative momentum. The RSI at 59.05 is Neutral, neither overbought nor oversold. The STOCH value of 44.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TSE:PLSR.

Pulsar Helium, Inc. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
FAR	70 Outperform	C$285.72M	12.28	18.35%	―	-17.73%	-36.29%
OGD	67 Neutral	C$64.43M	13.45	7.13%	―	1.04%	107.55%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
TVI	55 Neutral	C$32.79M	1.21	80.04%	―	―	―
PLSR	54 Neutral	C$261.19M	-11.33	―	―	―	74.10%
PNRG	48 Neutral	C$29.80M	-20.93	-126.48%	―	―	―
TWR	46 Neutral	C$35.52M	-66.13	-5.22%	―	―	-24.00%

Pulsar Helium, Inc. Corporate Events

Pulsar Helium Advances Topaz Project with Successful Drilling

Pulsar Helium Inc. has successfully completed the drilling of the Jetstream #3 appraisal well at its Topaz Project, reaching a depth of 3,507 feet and identifying a robust, naturally pressurized helium-bearing reservoir. The company has commenced drilling at Jetstream #4 and plans to conduct comprehensive evaluations and testing to further define the reservoir’s potential, with the goal of updating the Topaz resource and conducting a Preliminary Economic Assessment in the first half of 2026.

The most recent analyst rating on (TSE:PLSR) stock is a Buy with a C$1.57 price target. To see the full list of analyst forecasts on Pulsar Helium, Inc. stock, see the TSE:PLSR Stock Forecast page.