Pulse Biosciences, Inc. (PLSE) 10-Year Financial Performance & Capital Metrics

PLSE • • Industrial / General

HealthcareMedical InstrumentsWound Care & Therapeutic DevicesSpecialized Therapeutic Devices

AboutPulse 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.Show more

Revenue $0
EBITDA -$55M -30.0%
Net Income -$54M -26.9%
EPS (Diluted) -0.92 -4.5%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -67.31% +66.4%
ROIC -567.83% -88.6%
Debt/Equity 0.08 -62.4%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Shares diluted 21.6% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-61.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-41.98%

ROCE

10Y Avg-83.8%

5Y Avg-106.44%

3Y Avg-77.72%

Latest-64.35%

Peer Comparison

Specialized Therapeutic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RMDResMed Inc.	38.05B	260.70	27.41	9.84%	27.35%	23.49%	4.37%	0.14
ZJYLJin Medical International Ltd.	22.54M	0.14	6.13	18.57%	10.94%	16.93%		0.41
FEMYFemasys Inc.	38.2M	0.64	-0.76	51.97%	-9.61%	-434.6%		3.23
NYXHNyxoah S.A.	221.59M	5.15	-2.85	3.98%	-14.85%	-164.31%		0.20
MLSSMilestone Scientific Inc.	22.8M	0.29	-4.91	-12.19%	-76.78%	-208.8%		0.06
NVCRNovoCure Limited	1.55B	13.80	-8.85	18.82%	-27.66%	-52.05%		1.90
EKSOEkso Bionics Holdings, Inc.	22.43M	8.55	-15.27	-1.94%	-70.74%	-107.8%		0.47
PLSEPulse Biosciences, Inc.	955.52M	14.10	-15.33		-868.99%	-80.62%		0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0	1.42M	700K	0	0
Revenue Growth %	-	-	-	-	-	-	-	-0.51%	-1%	-
Cost of Goods Sold+	0	665K	665K	665K	666K	1.09M	1.97M	11.94M	1.21M	0
COGS % of Revenue	-	-	-	-	-	-	1.39%	17.06%	-	-
Gross Profit+	0	-665K	-665K	-665K	-666K	-1.09M	-550K	-11.24M	-1.21M	0
Gross Margin %	-	-	-	-	-	-	-0.39%	-16.06%	-	-
Gross Profit Growth %	-	-	0%	0%	-0%	-0.64%	0.5%	-19.44%	0.89%	1%
Operating Expenses+	4.47M	9.59M	25.81M	37.96M	47.95M	48.87M	62.46M	46.81M	42.37M	56.26M
OpEx % of Revenue	-	-	-	-	-	-	44.05%	66.88%	-	-
Selling, General & Admin	1.22M	2.93M	15.5M	20.05M	22.33M	22.86M	33.82M	25.97M	15.78M	23.92M
SG&A % of Revenue	-	-	-	-	-	-	23.85%	37.11%	-	-
Research & Development	2.58M	5.99M	9.65M	17.25M	24.96M	26.44M	28.64M	20.84M	27.8M	32.34M
R&D % of Revenue	-	-	-	-	-	-	20.2%	29.77%	-	-
Other Operating Expenses	665.39K	665K	665K	-28K	666K	-430K	0	0	-1.21M	0
Operating Income+	-4.47M	-9.59M	-25.81M	-37.96M	-47.95M	-49.97M	-63.01M	-58.06M	-43.57M	-56.26M
Operating Margin %	-	-	-	-	-	-	-44.44%	-82.94%	-	-
Operating Income Growth %	-13.48%	-1.15%	-1.69%	-0.47%	-0.26%	-0.04%	-0.26%	0.08%	0.25%	-0.29%
EBITDA+	-3.75M	-8.83M	-24.81M	-36.65M	-46.79M	-48.87M	-61.87M	-56.7M	-42.37M	-55.08M
EBITDA Margin %	-	-	-	-	-	-	-43.63%	-81%	-	-
EBITDA Growth %	-33.73%	-1.35%	-1.81%	-0.48%	-0.28%	-0.04%	-0.27%	0.08%	0.25%	-0.3%
D&A (Non-Cash Add-back)	716.98K	759K	1M	1.31M	1.16M	1.09M	1.15M	1.35M	1.21M	1.18M
EBIT	-4.47M	-9.59M	-25.57M	-37.55M	-47.95M	-49.85M	-63.01M	-58.06M	-43.57M	-56.26M
Net Interest Income+	0	0	0	0	983K	114K	0	0	1.36M	2.67M
Interest Income	0	68K	247K	446K	983K	114K	0	0	2.46M	2.67M
Interest Expense	0	0	0	0	0	0	0	0	1.1M	0
Other Income/Expense	0	68K	247K	418K	983K	114K	-646K	-448K	1.36M	2.67M
Pretax Income+	-4.47M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Pretax Margin %	-	-	-	-	-	-	-44.89%	-83.58%	-	-
Income Tax+	-1.66M	-94K	0	-28K	0	0	0	0	0	0
Effective Tax Rate %	0.63%	1%	1%	1%	0.98%	1%	1%	1%	1%	1%
Net Income+	-2.81M	-9.52M	-25.57M	-37.55M	-45.99M	-49.74M	-63.66M	-58.51M	-42.21M	-53.59M
Net Margin %	-	-	-	-	-	-	-44.89%	-83.58%	-	-
Net Income Growth %	-4.92%	-2.39%	-1.69%	-0.47%	-0.22%	-0.08%	-0.28%	0.08%	0.28%	-0.27%
Net Income (Continuing)	-2.81M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.37	-0.86	-1.73	-2.20	-2.22	-2.14	-2.28	-1.72	-0.88	-0.92
EPS Growth %	-0.95%	-1.32%	-1.01%	-0.27%	-0.01%	0.04%	-0.07%	0.25%	0.49%	-0.05%
EPS (Basic)	-0.37	-0.86	-1.73	-2.20	-2.22	-2.14	-2.28	-1.72	-0.88	-0.92
Diluted Shares Outstanding	7.57M	11.01M	14.75M	17.08M	20.75M	23.25M	27.96M	33.94M	48.04M	58.4M
Basic Shares Outstanding	7.57M	11.01M	14.75M	17.08M	20.75M	23.25M	27.96M	33.94M	48.04M	58.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4M	16.66M	38.48M	60.36M	26.4M	22.34M	36.63M	62.15M	45.33M	119.45M
Cash & Short-Term Investments	3.61M	16.39M	38.07M	59.58M	25.4M	20.48M	28.61M	61.14M	44.37M	118.04M
Cash Only	3.61M	2.09M	3.39M	51.1M	6.9M	12.46M	28.61M	61.14M	44.37M	118.04M
Short-Term Investments	0	14.31M	34.68M	8.48M	18.5M	8.01M	0	0	0	0
Accounts Receivable	0	0	0	0	0	0	61K	0	0	0
Days Sales Outstanding	-	-	-	-	-	-	15.7	-	-	-
Inventory	0	0	0	0	0	0	5.82M	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	1.08K	-	-	-
Other Current Assets	347K	0	0	0	0	0	0	1.01M	963K	1.41M
Total Non-Current Assets+	10.33M	9.65M	11.34M	10.28M	15.51M	18.95M	17.62M	15.73M	13.83M	13.01M
Property, Plant & Equipment	328.83K	317K	2.57M	2.17M	7.68M	11.92M	11.25M	10.02M	8.78M	8.32M
Fixed Asset Turnover	-	-	-	-	-	-	0.13x	0.07x	-	-
Goodwill	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M
Intangible Assets	7.21M	6.54M	5.88M	5.21M	4.55M	3.88M	3.22M	2.55M	1.89M	1.22M
Long-Term Investments	0	0	0	0	0	0	-3.25M	-2.73M	1.89M	0
Other Non-Current Assets	0	0	101K	101K	494K	365K	365K	365K	-1.52M	677K
Total Assets+	14.33M	26.31M	49.82M	70.64M	41.91M	41.29M	54.25M	77.88M	59.15M	132.46M
Asset Turnover	-	-	-	-	-	-	0.03x	0.01x	-	-
Asset Growth %	-0.2%	0.84%	0.89%	0.42%	-0.41%	-0.01%	0.31%	0.44%	-0.24%	1.24%
Total Current Liabilities+	659.76K	1.02M	2.21M	3.11M	4.46M	7.58M	8.52M	5.98M	6.71M	10.05M
Accounts Payable	262K	265K	782K	1.27M	1.96M	1.72M	2.9M	1.57M	1.84M	1.67M
Days Payables Outstanding	-	145.45	429.22	698.17	1.08K	572.33	538.6	48.07	555.21	-
Short-Term Debt	0	0	0	0	0	0	436K	917K	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	16K	0	0	0
Other Current Liabilities	239.76K	0	397K	415K	234K	3.32M	1.46M	50K	3.2M	1.2M
Current Ratio	6.06x	16.40x	17.39x	19.42x	5.92x	2.95x	4.30x	10.39x	6.76x	11.88x
Quick Ratio	6.06x	16.40x	17.39x	19.42x	5.92x	2.95x	3.62x	10.39x	6.76x	11.88x
Cash Conversion Cycle	-	-	-	-	-	-	557.27	-	-	-
Total Non-Current Liabilities+	261.99K	265K	1.61M	1.2M	6.72M	10.81M	10.04M	74.14M	8.09M	7.54M
Long-Term Debt	0	0	0	0	0	0	0	65M	0	0
Capital Lease Obligations	0	0	0	0	6.72M	10.81M	10.04M	9.14M	8.09M	7.54M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	1.61M	1.2M	0	0	0	0	0	0
Total Liabilities	659.76K	1.02M	3.83M	4.31M	11.18M	18.4M	18.56M	80.13M	14.79M	17.6M
Total Debt+	0	0	0	0	6.72M	11.36M	11.25M	75.96M	9.14M	8.9M
Net Debt	-3.61M	-2.09M	-3.39M	-51.1M	-180K	-1.11M	-17.36M	14.82M	-35.22M	-109.14M
Debt / Equity	-	-	-	-	0.22x	0.50x	0.32x	-	0.21x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-39.61x	-
Total Equity+	13.67M	25.3M	45.99M	66.33M	30.74M	22.89M	35.69M	-2.25M	44.36M	114.86M
Equity Growth %	-0.15%	0.85%	0.82%	0.44%	-0.54%	-0.26%	0.56%	-1.06%	20.73%	1.59%
Book Value per Share	1.81	2.30	3.12	3.88	1.48	0.98	1.28	-0.07	0.92	1.97
Total Shareholders' Equity	13.67M	25.3M	45.99M	66.33M	30.74M	22.89M	35.69M	-2.25M	44.36M	114.86M
Common Stock	7.57K	13K	84.22M	142.05M	21K	25K	29K	37K	55K	66K
Retained Earnings	-3.09M	-12.61M	-38.17M	-75.72M	-122.69M	-172.54M	-236.2M	-294.7M	-336.92M	-390.5M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	-7K	-51K	-1K	4K	-1K	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.32M	-8.05M	-11.09M	-23.9M	-34.19M	-35.37M	-54.1M	-47.01M	-33.04M	-36.34M
Operating CF Margin %	-	-	-	-	-	-	-38.15%	-67.16%	-	-
Operating CF Growth %	-18.16%	-1.43%	-0.38%	-1.16%	-0.43%	-0.03%	-0.53%	0.13%	0.3%	-0.1%
Net Income	-2.81M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Depreciation & Amortization	716.98K	759K	1M	1.31M	1.16M	1.09M	1.15M	1.35M	1.21M	1.18M
Stock-Based Compensation	402.09K	870K	10.93M	12.34M	0	10.07M	14.6M	5.19M	7.18M	13.59M
Deferred Taxes	-1.66M	-870K	26K	28K	0	0	0	0	0	0
Other Non-Cash Items	1.66M	874K	2.12M	-112K	10.77M	116K	13K	8.66M	13K	6K
Working Capital Changes	-1.62M	-166K	408K	113K	860K	3.2M	-6.2M	-3.72M	768K	2.47M
Change in Receivables	0	0	0	0	0	0	-61K	20K	109K	48K
Change in Inventory	0	0	0	0	0	0	-5.82M	-2.65M	0	0
Change in Payables	124.74K	3K	517K	490K	646K	-266K	1.16M	-1.3M	263K	-201K
Cash from Investing+	-86.03K	-14.38M	-23M	26.12M	-10.1M	10.04M	7.56M	-401K	-121K	-125K
Capital Expenditures	-86.03K	-64K	-2.55M	-276K	-608K	-441K	-437K	-401K	-121K	-125K
CapEx % of Revenue	-	-	-	-	-	-	0.31%	0.57%	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-64K	-20.45M	26.39M	0	10.48M	0	0	0	0
Cash from Financing+	0	20.91M	35.38M	45.5M	82K	30.89M	62.69M	79.94M	16.39M	110.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	539K	710K	-613K	1.45M	62.51M	75K	-6K	50.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.4M	-8.12M	-13.64M	-24.17M	-34.79M	-35.81M	-54.53M	-47.41M	-33.16M	-36.47M
FCF Margin %	-	-	-	-	-	-	-38.46%	-67.73%	-	-
FCF Growth %	-12.5%	-1.38%	-0.68%	-0.77%	-0.44%	-0.03%	-0.52%	0.13%	0.3%	-0.1%
FCF per Share	-0.45	-0.74	-0.92	-1.42	-1.68	-1.54	-1.95	-1.40	-0.69	-0.62
FCF Conversion (FCF/Net Income)	1.18x	0.85x	0.43x	0.64x	0.74x	0.71x	0.85x	0.80x	0.78x	0.68x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-18.91%	-48.86%	-71.72%	-66.85%	-94.75%	-185.48%	-217.33%	-349.89%	-200.47%	-67.31%
Return on Invested Capital (ROIC)	-35.04%	-43.22%	-58.83%	-98.45%	-157.1%	-143.18%	-235.64%	-281.87%	-301.08%	-567.83%
Gross Margin	-	-	-	-	-	-	-38.79%	-1606.29%	-	-
Net Margin	-	-	-	-	-	-	-4489.42%	-8357.86%	-	-
Debt / Equity	-	-	-	-	0.22x	0.50x	0.32x	-	0.21x	0.08x
Interest Coverage	-	-	-	-	-	-	-	-	-39.61x	-
FCF Conversion	1.18x	0.85x	0.43x	0.64x	0.74x	0.71x	0.85x	0.80x	0.78x	0.68x
Revenue Growth	-	-	-	-	-	-	-	-50.63%	-100%	-

Revenue by Segment

	2022
Cycle Units Products	140K
Cycle Units Products Growth	-

Revenue by Geography

	2022
North America	517K
North America Growth	-
World	183K
World Growth	-

Frequently Asked Questions

Growth & Financials

Pulse Biosciences, Inc. (PLSE) reported $0.1M in revenue for fiscal year 2024.

Pulse Biosciences, Inc. (PLSE) grew revenue by 0.0% over the past year. Growth has been modest.

Pulse Biosciences, Inc. (PLSE) reported a net loss of $74.7M for fiscal year 2024.

Dividend & Returns

Pulse Biosciences, Inc. (PLSE) has a return on equity (ROE) of -67.3%. Negative ROE indicates the company is unprofitable.

Pulse Biosciences, Inc. (PLSE) had negative free cash flow of $48.8M in fiscal year 2024, likely due to heavy capital investments.

US Stock Screener

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Pulse Biosciences, Inc. (PLSE) 10-Year Financial Performance & Capital Metrics

PLSE • • Industrial / General

HealthcareMedical InstrumentsWound Care & Therapeutic DevicesSpecialized Therapeutic Devices

Revenue $0
EBITDA -$55M -30.0%
Net Income -$54M -26.9%
EPS (Diluted) -0.92 -4.5%
Gross Margin -
EBITDA Margin -
Operating Margin -
Net Margin -
ROE -67.31% +66.4%
ROIC -567.83% -88.6%
Debt/Equity 0.08 -62.4%
Interest Coverage -

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Company is almost debt free

✗Weaknesses

✗Shares diluted 21.6% in last year
✗Trading more than 30% below 52-week high
✗Low asset turnover indicates capital-intensive operations

Price & Volume

Loading chart...

Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y-

TTM-

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM-61.99%

EPS CAGR

10Y-

5Y-

3Y-

TTM-41.98%

ROCE

10Y Avg-83.8%

5Y Avg-106.44%

3Y Avg-77.72%

Latest-64.35%

Peer Comparison

Specialized Therapeutic Devices

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
RMDResMed Inc.	38.05B	260.70	27.41	9.84%	27.35%	23.49%	4.37%	0.14
ZJYLJin Medical International Ltd.	22.54M	0.14	6.13	18.57%	10.94%	16.93%		0.41
FEMYFemasys Inc.	38.2M	0.64	-0.76	51.97%	-9.61%	-434.6%		3.23
NYXHNyxoah S.A.	221.59M	5.15	-2.85	3.98%	-14.85%	-164.31%		0.20
MLSSMilestone Scientific Inc.	22.8M	0.29	-4.91	-12.19%	-76.78%	-208.8%		0.06
NVCRNovoCure Limited	1.55B	13.80	-8.85	18.82%	-27.66%	-52.05%		1.90
EKSOEkso Bionics Holdings, Inc.	22.43M	8.55	-15.27	-1.94%	-70.74%	-107.8%		0.47
PLSEPulse Biosciences, Inc.	955.52M	14.10	-15.33		-868.99%	-80.62%		0.08

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	0	0	0	0	0	1.42M	700K	0	0
Revenue Growth %	-	-	-	-	-	-	-	-0.51%	-1%	-
Cost of Goods Sold+	0	665K	665K	665K	666K	1.09M	1.97M	11.94M	1.21M	0
COGS % of Revenue	-	-	-	-	-	-	1.39%	17.06%	-	-
Gross Profit+	0	-665K	-665K	-665K	-666K	-1.09M	-550K	-11.24M	-1.21M	0
Gross Margin %	-	-	-	-	-	-	-0.39%	-16.06%	-	-
Gross Profit Growth %	-	-	0%	0%	-0%	-0.64%	0.5%	-19.44%	0.89%	1%
Operating Expenses+	4.47M	9.59M	25.81M	37.96M	47.95M	48.87M	62.46M	46.81M	42.37M	56.26M
OpEx % of Revenue	-	-	-	-	-	-	44.05%	66.88%	-	-
Selling, General & Admin	1.22M	2.93M	15.5M	20.05M	22.33M	22.86M	33.82M	25.97M	15.78M	23.92M
SG&A % of Revenue	-	-	-	-	-	-	23.85%	37.11%	-	-
Research & Development	2.58M	5.99M	9.65M	17.25M	24.96M	26.44M	28.64M	20.84M	27.8M	32.34M
R&D % of Revenue	-	-	-	-	-	-	20.2%	29.77%	-	-
Other Operating Expenses	665.39K	665K	665K	-28K	666K	-430K	0	0	-1.21M	0
Operating Income+	-4.47M	-9.59M	-25.81M	-37.96M	-47.95M	-49.97M	-63.01M	-58.06M	-43.57M	-56.26M
Operating Margin %	-	-	-	-	-	-	-44.44%	-82.94%	-	-
Operating Income Growth %	-13.48%	-1.15%	-1.69%	-0.47%	-0.26%	-0.04%	-0.26%	0.08%	0.25%	-0.29%
EBITDA+	-3.75M	-8.83M	-24.81M	-36.65M	-46.79M	-48.87M	-61.87M	-56.7M	-42.37M	-55.08M
EBITDA Margin %	-	-	-	-	-	-	-43.63%	-81%	-	-
EBITDA Growth %	-33.73%	-1.35%	-1.81%	-0.48%	-0.28%	-0.04%	-0.27%	0.08%	0.25%	-0.3%
D&A (Non-Cash Add-back)	716.98K	759K	1M	1.31M	1.16M	1.09M	1.15M	1.35M	1.21M	1.18M
EBIT	-4.47M	-9.59M	-25.57M	-37.55M	-47.95M	-49.85M	-63.01M	-58.06M	-43.57M	-56.26M
Net Interest Income+	0	0	0	0	983K	114K	0	0	1.36M	2.67M
Interest Income	0	68K	247K	446K	983K	114K	0	0	2.46M	2.67M
Interest Expense	0	0	0	0	0	0	0	0	1.1M	0
Other Income/Expense	0	68K	247K	418K	983K	114K	-646K	-448K	1.36M	2.67M
Pretax Income+	-4.47M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Pretax Margin %	-	-	-	-	-	-	-44.89%	-83.58%	-	-
Income Tax+	-1.66M	-94K	0	-28K	0	0	0	0	0	0
Effective Tax Rate %	0.63%	1%	1%	1%	0.98%	1%	1%	1%	1%	1%
Net Income+	-2.81M	-9.52M	-25.57M	-37.55M	-45.99M	-49.74M	-63.66M	-58.51M	-42.21M	-53.59M
Net Margin %	-	-	-	-	-	-	-44.89%	-83.58%	-	-
Net Income Growth %	-4.92%	-2.39%	-1.69%	-0.47%	-0.22%	-0.08%	-0.28%	0.08%	0.28%	-0.27%
Net Income (Continuing)	-2.81M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)+	-0.37	-0.86	-1.73	-2.20	-2.22	-2.14	-2.28	-1.72	-0.88	-0.92
EPS Growth %	-0.95%	-1.32%	-1.01%	-0.27%	-0.01%	0.04%	-0.07%	0.25%	0.49%	-0.05%
EPS (Basic)	-0.37	-0.86	-1.73	-2.20	-2.22	-2.14	-2.28	-1.72	-0.88	-0.92
Diluted Shares Outstanding	7.57M	11.01M	14.75M	17.08M	20.75M	23.25M	27.96M	33.94M	48.04M	58.4M
Basic Shares Outstanding	7.57M	11.01M	14.75M	17.08M	20.75M	23.25M	27.96M	33.94M	48.04M	58.4M
Dividend Payout Ratio	-	-	-	-	-	-	-	-	-	-

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	4M	16.66M	38.48M	60.36M	26.4M	22.34M	36.63M	62.15M	45.33M	119.45M
Cash & Short-Term Investments	3.61M	16.39M	38.07M	59.58M	25.4M	20.48M	28.61M	61.14M	44.37M	118.04M
Cash Only	3.61M	2.09M	3.39M	51.1M	6.9M	12.46M	28.61M	61.14M	44.37M	118.04M
Short-Term Investments	0	14.31M	34.68M	8.48M	18.5M	8.01M	0	0	0	0
Accounts Receivable	0	0	0	0	0	0	61K	0	0	0
Days Sales Outstanding	-	-	-	-	-	-	15.7	-	-	-
Inventory	0	0	0	0	0	0	5.82M	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	1.08K	-	-	-
Other Current Assets	347K	0	0	0	0	0	0	1.01M	963K	1.41M
Total Non-Current Assets+	10.33M	9.65M	11.34M	10.28M	15.51M	18.95M	17.62M	15.73M	13.83M	13.01M
Property, Plant & Equipment	328.83K	317K	2.57M	2.17M	7.68M	11.92M	11.25M	10.02M	8.78M	8.32M
Fixed Asset Turnover	-	-	-	-	-	-	0.13x	0.07x	-	-
Goodwill	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M	2.79M
Intangible Assets	7.21M	6.54M	5.88M	5.21M	4.55M	3.88M	3.22M	2.55M	1.89M	1.22M
Long-Term Investments	0	0	0	0	0	0	-3.25M	-2.73M	1.89M	0
Other Non-Current Assets	0	0	101K	101K	494K	365K	365K	365K	-1.52M	677K
Total Assets+	14.33M	26.31M	49.82M	70.64M	41.91M	41.29M	54.25M	77.88M	59.15M	132.46M
Asset Turnover	-	-	-	-	-	-	0.03x	0.01x	-	-
Asset Growth %	-0.2%	0.84%	0.89%	0.42%	-0.41%	-0.01%	0.31%	0.44%	-0.24%	1.24%
Total Current Liabilities+	659.76K	1.02M	2.21M	3.11M	4.46M	7.58M	8.52M	5.98M	6.71M	10.05M
Accounts Payable	262K	265K	782K	1.27M	1.96M	1.72M	2.9M	1.57M	1.84M	1.67M
Days Payables Outstanding	-	145.45	429.22	698.17	1.08K	572.33	538.6	48.07	555.21	-
Short-Term Debt	0	0	0	0	0	0	436K	917K	0	0
Deferred Revenue (Current)	0	0	0	0	0	0	16K	0	0	0
Other Current Liabilities	239.76K	0	397K	415K	234K	3.32M	1.46M	50K	3.2M	1.2M
Current Ratio	6.06x	16.40x	17.39x	19.42x	5.92x	2.95x	4.30x	10.39x	6.76x	11.88x
Quick Ratio	6.06x	16.40x	17.39x	19.42x	5.92x	2.95x	3.62x	10.39x	6.76x	11.88x
Cash Conversion Cycle	-	-	-	-	-	-	557.27	-	-	-
Total Non-Current Liabilities+	261.99K	265K	1.61M	1.2M	6.72M	10.81M	10.04M	74.14M	8.09M	7.54M
Long-Term Debt	0	0	0	0	0	0	0	65M	0	0
Capital Lease Obligations	0	0	0	0	6.72M	10.81M	10.04M	9.14M	8.09M	7.54M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	1.61M	1.2M	0	0	0	0	0	0
Total Liabilities	659.76K	1.02M	3.83M	4.31M	11.18M	18.4M	18.56M	80.13M	14.79M	17.6M
Total Debt+	0	0	0	0	6.72M	11.36M	11.25M	75.96M	9.14M	8.9M
Net Debt	-3.61M	-2.09M	-3.39M	-51.1M	-180K	-1.11M	-17.36M	14.82M	-35.22M	-109.14M
Debt / Equity	-	-	-	-	0.22x	0.50x	0.32x	-	0.21x	0.08x
Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-	-	-	-	-	-
Interest Coverage	-	-	-	-	-	-	-	-	-39.61x	-
Total Equity+	13.67M	25.3M	45.99M	66.33M	30.74M	22.89M	35.69M	-2.25M	44.36M	114.86M
Equity Growth %	-0.15%	0.85%	0.82%	0.44%	-0.54%	-0.26%	0.56%	-1.06%	20.73%	1.59%
Book Value per Share	1.81	2.30	3.12	3.88	1.48	0.98	1.28	-0.07	0.92	1.97
Total Shareholders' Equity	13.67M	25.3M	45.99M	66.33M	30.74M	22.89M	35.69M	-2.25M	44.36M	114.86M
Common Stock	7.57K	13K	84.22M	142.05M	21K	25K	29K	37K	55K	66K
Retained Earnings	-3.09M	-12.61M	-38.17M	-75.72M	-122.69M	-172.54M	-236.2M	-294.7M	-336.92M	-390.5M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Accumulated OCI	0	-7K	-51K	-1K	4K	-1K	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-3.32M	-8.05M	-11.09M	-23.9M	-34.19M	-35.37M	-54.1M	-47.01M	-33.04M	-36.34M
Operating CF Margin %	-	-	-	-	-	-	-38.15%	-67.16%	-	-
Operating CF Growth %	-18.16%	-1.43%	-0.38%	-1.16%	-0.43%	-0.03%	-0.53%	0.13%	0.3%	-0.1%
Net Income	-2.81M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-63.66M	-58.51M	-42.21M	-53.59M
Depreciation & Amortization	716.98K	759K	1M	1.31M	1.16M	1.09M	1.15M	1.35M	1.21M	1.18M
Stock-Based Compensation	402.09K	870K	10.93M	12.34M	0	10.07M	14.6M	5.19M	7.18M	13.59M
Deferred Taxes	-1.66M	-870K	26K	28K	0	0	0	0	0	0
Other Non-Cash Items	1.66M	874K	2.12M	-112K	10.77M	116K	13K	8.66M	13K	6K
Working Capital Changes	-1.62M	-166K	408K	113K	860K	3.2M	-6.2M	-3.72M	768K	2.47M
Change in Receivables	0	0	0	0	0	0	-61K	20K	109K	48K
Change in Inventory	0	0	0	0	0	0	-5.82M	-2.65M	0	0
Change in Payables	124.74K	3K	517K	490K	646K	-266K	1.16M	-1.3M	263K	-201K
Cash from Investing+	-86.03K	-14.38M	-23M	26.12M	-10.1M	10.04M	7.56M	-401K	-121K	-125K
Capital Expenditures	-86.03K	-64K	-2.55M	-276K	-608K	-441K	-437K	-401K	-121K	-125K
CapEx % of Revenue	-	-	-	-	-	-	0.31%	0.57%	-	-
Acquisitions	-	-	-	-	-	-	-	-	-	-
Investments	-	-	-	-	-	-	-	-	-	-
Other Investing	0	-64K	-20.45M	26.39M	0	10.48M	0	0	0	0
Cash from Financing+	0	20.91M	35.38M	45.5M	82K	30.89M	62.69M	79.94M	16.39M	110.14M
Debt Issued (Net)	-	-	-	-	-	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-	-	-	-	-	-
Dividends Paid	0	0	0	0	0	0	0	0	0	0
Share Repurchases	-	-	-	-	-	-	-	-	-	-
Other Financing	0	0	539K	710K	-613K	1.45M	62.51M	75K	-6K	50.49M
Net Change in Cash	-	-	-	-	-	-	-	-	-	-
Free Cash Flow+	-3.4M	-8.12M	-13.64M	-24.17M	-34.79M	-35.81M	-54.53M	-47.41M	-33.16M	-36.47M
FCF Margin %	-	-	-	-	-	-	-38.46%	-67.73%	-	-
FCF Growth %	-12.5%	-1.38%	-0.68%	-0.77%	-0.44%	-0.03%	-0.52%	0.13%	0.3%	-0.1%
FCF per Share	-0.45	-0.74	-0.92	-1.42	-1.68	-1.54	-1.95	-1.40	-0.69	-0.62
FCF Conversion (FCF/Net Income)	1.18x	0.85x	0.43x	0.64x	0.74x	0.71x	0.85x	0.80x	0.78x	0.68x
Interest Paid	0	0	0	0	0	0	0	0	0	0
Taxes Paid	0	0	0	0	0	0	0	0	0	0

Key Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	-18.91%	-48.86%	-71.72%	-66.85%	-94.75%	-185.48%	-217.33%	-349.89%	-200.47%	-67.31%
Return on Invested Capital (ROIC)	-35.04%	-43.22%	-58.83%	-98.45%	-157.1%	-143.18%	-235.64%	-281.87%	-301.08%	-567.83%
Gross Margin	-	-	-	-	-	-	-38.79%	-1606.29%	-	-
Net Margin	-	-	-	-	-	-	-4489.42%	-8357.86%	-	-
Debt / Equity	-	-	-	-	0.22x	0.50x	0.32x	-	0.21x	0.08x
Interest Coverage	-	-	-	-	-	-	-	-	-39.61x	-
FCF Conversion	1.18x	0.85x	0.43x	0.64x	0.74x	0.71x	0.85x	0.80x	0.78x	0.68x
Revenue Growth	-	-	-	-	-	-	-	-50.63%	-100%	-

Revenue by Segment

	2022
Cycle Units Products	140K
Cycle Units Products Growth	-

Revenue by Geography

	2022
North America	517K
North America Growth	-
World	183K
World Growth	-

Frequently Asked Questions

Growth & Financials

Pulse Biosciences, Inc. (PLSE) reported $0.1M in revenue for fiscal year 2024.

Pulse Biosciences, Inc. (PLSE) grew revenue by 0.0% over the past year. Growth has been modest.

Pulse Biosciences, Inc. (PLSE) reported a net loss of $74.7M for fiscal year 2024.

Dividend & Returns

Pulse Biosciences, Inc. (PLSE) has a return on equity (ROE) of -67.3%. Negative ROE indicates the company is unprofitable.

Pulse Biosciences, Inc. (PLSE) had negative free cash flow of $48.8M in fiscal year 2024, likely due to heavy capital investments.