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6May 6, 2026·SEC
May 4, 2026·SEC
Apr 27, 2026·SEC
Pulse Biosciences, Inc. (PLSE) fundamental analysis — strengths, weaknesses & financial health based on data analysis
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
Pulse Biosciences, Inc. (PLSE) stock price & volume — 10-year historical chart
Pulse Biosciences, Inc. (PLSE) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Pulse Biosciences, Inc. (PLSE) EPS & revenue vs analyst estimates — last 4 quarters
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | May 4, 2026 | $0.27vs $0.32+15.6% | $400,000vs $250,000+60.0% |
| Q1 2026 | Feb 19, 2026 | $0.26vs $0.27+1.9% | $264,000vs $150,000+76.0% |
| Q4 2025 | Nov 5, 2025 | $0.29vs $0.31+6.5% | $86,000vs $225,000-61.8% |
| Q3 2025 | Aug 12, 2025 | $0.28vs $0.26-7.7% | —vs $500,000 |
Pulse Biosciences, Inc. (PLSE) competitors in Surgical and interventional devices — business model, growth, and fundamentals comparison
Pulse Biosciences, Inc. (PLSE) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
Pulse Biosciences, Inc. (PLSE) annual income statement — 10-year revenue, gross profit & net income history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 0 | 0 | 0 | 1.42M | 700K | 0 | 0 | 350K |
| Revenue Growth % | - | - | - | - | - | -50.63% | -100% | - | - |
| Cost of Goods Sold | 665K | 665K | 666K | 1.09M | 1.97M | 11.94M | 1.21M | 0 | 1.61M |
| COGS % of Revenue | - | - | - | - | 138.79% | 1706.29% | - | - | 460% |
| Gross Profit | -665K▲ 0% | -665K▲ 0.0% | -666K▼ 0.2% | -1.09M▼ 64.4% | -550K▲ 49.8% | -11.24M▼ 1944.4% | -1.21M▲ 89.3% | 0▲ 100.0% | -1.26M▲ 0% |
| Gross Margin % | - | - | - | - | -38.79% | -1606.29% | - | - | -360% |
| Gross Profit Growth % | 0% | 0% | -0.15% | -64.41% | 49.77% | -1944.36% | 89.27% | 100% | - |
| Operating Expenses | 25.81M | 37.96M | 47.95M | 48.87M | 62.46M | 46.81M | 42.37M | 56.26M | 75.68M |
| OpEx % of Revenue | - | - | - | - | 4405.08% | 6687.57% | - | - | 21622.57% |
| Selling, General & Admin | 15.5M | 20.05M | 22.33M | 22.86M | 33.82M | 25.97M | 15.78M | 23.92M | 32.03M |
| SG&A % of Revenue | - | - | - | - | 2385.33% | 3710.57% | - | - | 9151.14% |
| Research & Development | 9.65M | 17.25M | 24.96M | 26.44M | 28.64M | 20.84M | 27.8M | 32.34M | 44.72M |
| R&D % of Revenue | - | - | - | - | 2019.75% | 2977% | - | - | 12777.43% |
| Other Operating Expenses | 665K | -28K | 666K | -430K | 0 | 0 | -1.21M | 0 | -1.07M |
| Operating Income | -25.81M▲ 0% | -37.96M▼ 47.1% | -47.95M▼ 26.3% | -49.97M▼ 4.2% | -63.01M▼ 26.1% | -58.06M▲ 7.9% | -43.57M▲ 24.9% | -56.26M▼ 29.1% | -76.94M▼ 36.8% |
| Operating Margin % | - | - | - | - | -4443.86% | -8293.86% | - | - | -21982.57% |
| Operating Income Growth % | -169.29% | -47.06% | -26.32% | -4.19% | -26.12% | 7.87% | 24.95% | -29.11% | -36.76% |
| EBITDA | -24.81M | -36.65M | -46.79M | -48.87M | -61.87M | -56.7M | -42.37M | -55.08M | -75.87M |
| EBITDA Margin % | - | - | - | - | -4363.05% | -8100.29% | - | - | -21676.57% |
| EBITDA Growth % | -181.1% | -47.72% | -27.67% | -4.44% | -26.6% | 8.35% | 25.28% | -30% | -37.74% |
| D&A (Non-Cash Add-back) | 1M | 1.31M | 1.16M | 1.09M | 1.15M | 1.35M | 1.21M | 1.18M | 1.07M |
| EBIT | -25.57M | -37.55M | -47.95M | -49.85M | -63.01M | -58.06M | -43.57M | -56.26M | -72.78M |
| Net Interest Income | 0 | 0 | 983K | 114K | 0 | 0 | 1.36M | 2.67M | 4.21M |
| Interest Income | 247K | 446K | 983K | 114K | 0 | 0 | 2.46M | 2.67M | 4.21M |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 1.1M | 0 | 0 |
| Other Income/Expense | 247K | 418K | 983K | 114K | -646K | -448K | 1.36M | 2.67M | 4.16M |
| Pretax Income | -25.57M▲ 0% | -37.55M▼ 46.8% | -46.97M▼ 25.1% | -49.85M▼ 6.1% | -63.66M▼ 27.7% | -58.51M▲ 8.1% | -42.21M▲ 27.9% | -53.59M▼ 26.9% | -72.78M▼ 35.8% |
| Pretax Margin % | - | - | - | - | -4489.42% | -8357.86% | - | - | -20794.57% |
| Income Tax | 0 | -28K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Effective Tax Rate % | 0% | 0.07% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Net Income | -25.57M▲ 0% | -37.55M▼ 46.8% | -45.99M▼ 22.5% | -49.74M▼ 8.2% | -63.66M▼ 28.0% | -58.51M▲ 8.1% | -42.21M▲ 27.9% | -53.59M▼ 26.9% | -72.78M▼ 35.8% |
| Net Margin % | - | - | - | - | -4489.42% | -8357.86% | - | - | -20794.57% |
| Net Income Growth % | -168.62% | -46.85% | -22.49% | -8.15% | -27.99% | 8.1% | 27.85% | -26.95% | -35.82% |
| Net Income (Continuing) | -25.57M | -37.55M | -46.97M | -49.85M | -63.66M | -58.51M | -42.21M | -53.59M | -72.78M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.73▲ 0% | -2.20▼ 27.2% | -2.22▼ 0.9% | -2.14▲ 3.6% | -2.28▼ 6.5% | -1.72▲ 24.6% | -0.88▲ 48.8% | -0.92▼ 4.5% | -1.08▼ 17.4% |
| EPS Growth % | -101.16% | -27.17% | -0.91% | 3.6% | -6.54% | 24.56% | 48.84% | -4.55% | -17.39% |
| EPS (Basic) | -1.73 | -2.20 | -2.22 | -2.14 | -2.28 | -1.72 | -0.88 | -0.92 | -1.08 |
| Diluted Shares Outstanding | 14.75M | 17.08M | 20.75M | 23.25M | 27.96M | 33.94M | 48.04M | 58.4M | 67.4M |
| Basic Shares Outstanding | 14.75M | 17.08M | 20.75M | 23.25M | 27.96M | 33.94M | 48.04M | 58.4M | 67.4M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - |
Pulse Biosciences, Inc. (PLSE) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 38.48M | 60.36M | 26.4M | 22.34M | 36.63M | 62.15M | 45.33M | 119.45M | 83.42M |
| Cash & Short-Term Investments | 38.07M | 59.58M | 25.4M | 20.48M | 28.61M | 61.14M | 44.37M | 118.04M | 80.73M |
| Cash Only | 3.39M | 51.1M | 6.9M | 12.46M | 28.61M | 61.14M | 44.37M | 118.04M | 80.73M |
| Short-Term Investments | 34.68M | 8.48M | 18.5M | 8.01M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 | 0 | 61K | 0 | 0 | 0 | 274K |
| Days Sales Outstanding | - | - | - | - | 15.7 | - | - | - | 285.74 |
| Inventory | 0 | 0 | 0 | 0 | 5.82M | 0 | 0 | 0 | 136K |
| Days Inventory Outstanding | - | - | - | - | 1.08K | - | - | - | 30.83 |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 1.01M | 963K | 1.41M | 2.28M |
| Total Non-Current Assets | 11.34M | 10.28M | 15.51M | 18.95M | 17.62M | 15.73M | 13.83M | 13.01M | 12.69M |
| Property, Plant & Equipment | 2.57M | 2.17M | 7.68M | 11.92M | 11.25M | 10.02M | 8.78M | 8.32M | 7.06M |
| Fixed Asset Turnover | - | - | - | - | 0.13x | 0.07x | - | - | 0.05x |
| Goodwill | 2.79M | 2.79M | 2.79M | 2.79M | 2.79M | 2.79M | 2.79M | 2.79M | 2.79M |
| Intangible Assets | 5.88M | 5.21M | 4.55M | 3.88M | 3.22M | 2.55M | 1.89M | 1.22M | 575K |
| Long-Term Investments | 0 | 0 | 0 | 0 | -3.25M | -2.73M | 1.89M | 0 | 0 |
| Other Non-Current Assets | 101K | 101K | 494K | 365K | 365K | 365K | -1.52M | 677K | 691K |
| Total Assets | 49.82M▲ 0% | 70.64M▲ 41.8% | 41.91M▼ 40.7% | 41.29M▼ 1.5% | 54.25M▲ 31.4% | 77.88M▲ 43.6% | 59.15M▼ 24.0% | 132.46M▲ 123.9% | 96.11M▼ 27.4% |
| Asset Turnover | - | - | - | - | 0.03x | 0.01x | - | - | 0.00x |
| Asset Growth % | 89.33% | 41.79% | -40.66% | -1.48% | 31.38% | 43.55% | -24.04% | 123.92% | -27.44% |
| Total Current Liabilities | 2.21M | 3.11M | 4.46M | 7.58M | 8.52M | 5.98M | 6.71M | 10.05M | 7.92M |
| Accounts Payable | 782K | 1.27M | 1.96M | 1.72M | 2.9M | 1.57M | 1.84M | 1.67M | 2.78M |
| Days Payables Outstanding | 429.22 | 698.17 | 1.08K | 572.33 | 538.6 | 48.07 | 555.21 | - | 629.57 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 436K | 917K | 0 | 0 | 1.57M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 16K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 397K | 415K | 234K | 3.32M | 1.46M | 50K | 3.2M | 1.2M | 1.6M |
| Current Ratio | 17.39x | 19.42x | 5.92x | 2.95x | 4.30x | 10.39x | 6.76x | 11.88x | 10.53x |
| Quick Ratio | 17.39x | 19.42x | 5.92x | 2.95x | 3.62x | 10.39x | 6.76x | 11.88x | 10.51x |
| Cash Conversion Cycle | - | - | - | - | 557.27 | - | - | - | -312.99 |
| Total Non-Current Liabilities | 1.61M | 1.2M | 6.72M | 10.81M | 10.04M | 74.14M | 8.09M | 7.54M | 7.54M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 65M | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 6.72M | 10.81M | 10.04M | 9.14M | 8.09M | 7.54M | 5.96M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.57M |
| Other Non-Current Liabilities | 1.61M | 1.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.83M | 4.31M | 11.18M | 18.4M | 18.56M | 80.13M | 14.79M | 17.6M | 15.46M |
| Total Debt | 0 | 0 | 6.72M | 11.36M | 11.25M | 75.96M | 9.14M | 8.9M | 7.53M |
| Net Debt | -3.39M | -51.1M | -180K | -1.11M | -17.36M | 14.82M | -35.22M | -109.14M | -73.2M |
| Debt / Equity | - | - | 0.22x | 0.50x | 0.32x | - | 0.21x | 0.08x | 0.09x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | -39.61x | - | - |
| Total Equity | 45.99M▲ 0% | 66.33M▲ 44.2% | 30.74M▼ 53.7% | 22.89M▼ 25.5% | 35.69M▲ 55.9% | -2.25M▼ 106.3% | 44.36M▲ 2073.3% | 114.86M▲ 158.9% | 80.66M▼ 29.8% |
| Equity Growth % | 81.81% | 44.22% | -53.66% | -25.52% | 55.89% | -106.3% | 2073.31% | 158.93% | -29.78% |
| Book Value per Share | 3.12 | 3.88 | 1.48 | 0.98 | 1.28 | -0.07 | 0.92 | 1.97 | 1.20 |
| Total Shareholders' Equity | 45.99M | 66.33M | 30.74M | 22.89M | 35.69M | -2.25M | 44.36M | 114.86M | 80.66M |
| Common Stock | 84.22M | 142.05M | 21K | 25K | 29K | 37K | 55K | 66K | 68K |
| Retained Earnings | -38.17M | -75.72M | -122.69M | -172.54M | -236.2M | -294.7M | -336.92M | -390.5M | -463.28M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -51K | -1K | 4K | -1K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pulse Biosciences, Inc. (PLSE) cash flow — operating, investing & free cash flow history
| Line item | Dec'17 | Dec'18 | Dec'19 | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -11.09M | -23.9M | -34.19M | -35.37M | -54.1M | -47.01M | -33.04M | -36.34M | -54.12M |
| Operating CF Margin % | - | - | - | - | -3815.02% | -6716.14% | - | - | -15463.43% |
| Operating CF Growth % | -37.71% | -115.53% | -43.06% | -3.45% | -52.97% | 13.1% | 29.72% | -9.99% | -48.92% |
| Net Income | -25.57M | -37.55M | -46.97M | -49.85M | -63.66M | -58.51M | -42.21M | -53.59M | -72.78M |
| Depreciation & Amortization | 1M | 1.31M | 1.16M | 1.09M | 1.15M | 1.35M | 1.21M | 1.18M | 1.07M |
| Stock-Based Compensation | 10.93M | 12.34M | 11.29M | 10.07M | 14.6M | 5.19M | 7.18M | 13.59M | 21.46M |
| Deferred Taxes | 26K | 28K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 2.12M | -112K | -521K | 116K | 13K | 8.66M | 13K | 6K | 1.15M |
| Working Capital Changes | 408K | 113K | 860K | 3.2M | -6.2M | -3.72M | 768K | 2.47M | -5.02M |
| Change in Receivables | 0 | 0 | 0 | 0 | -61K | 20K | 109K | 48K | -274K |
| Change in Inventory | 0 | 0 | 0 | 0 | -5.82M | -2.65M | 0 | 0 | -136K |
| Change in Payables | 517K | 490K | 646K | -266K | 1.16M | -1.3M | 263K | -201K | 1.13M |
| Cash from Investing | -23M | 26.12M | -10.1M | 10.04M | 7.56M | -401K | -121K | -125K | -335K |
| Capital Expenditures | -2.55M | -276K | -608K | -441K | -437K | -401K | -121K | -125K | -315K |
| CapEx % of Revenue | - | - | - | - | 30.82% | 57.29% | - | - | 90% |
| Acquisitions | 0 | 0 | 0 | -10.48M | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - |
| Other Investing | -20.45M | 26.39M | 0 | 10.48M | 0 | 0 | 0 | 0 | -20K |
| Cash from Financing | 35.38M | 45.5M | 82K | 30.89M | 62.69M | 79.94M | 16.39M | 110.14M | 17.15M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 407K | 65M | 0 | 0 | 0 |
| Equity Issued (Net) | 34.84M | 44.79M | 695K | 29.43M | -232K | 14.86M | 16.39M | 59.65M | 17.15M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 539K | 710K | -613K | 1.45M | 62.51M | 75K | -6K | 50.49M | 0 |
| Net Change in Cash | 1.3M▲ 0% | 47.72M▲ 3579.0% | -44.2M▼ 192.6% | 5.56M▲ 112.6% | 16.15M▲ 190.3% | 32.52M▲ 101.4% | -16.77M▼ 151.6% | 73.67M▲ 539.2% | -37.3M▼ 150.6% |
| Free Cash Flow | -13.64M▲ 0% | -24.17M▼ 77.2% | -34.79M▼ 43.9% | -35.81M▼ 2.9% | -54.53M▼ 52.3% | -47.41M▲ 13.1% | -33.16M▲ 30.1% | -36.47M▼ 10.0% | -54.44M▼ 49.3% |
| FCF Margin % | - | - | - | - | -3845.84% | -6773.43% | - | - | -15553.43% |
| FCF Growth % | -68.06% | -77.24% | -43.94% | -2.91% | -52.3% | 13.06% | 30.06% | -9.97% | -49.27% |
| FCF per Share | -0.92 | -1.42 | -1.68 | -1.54 | -1.95 | -1.40 | -0.69 | -0.62 | -0.81 |
| FCF Conversion (FCF/Net Income) | 0.43x | 0.64x | 0.74x | 0.71x | 0.85x | 0.80x | 0.78x | 0.68x | 0.74x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Pulse Biosciences, Inc. (PLSE) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -48.86% | -71.72% | -66.85% | -94.75% | -185.48% | -217.33% | -349.89% | -200.47% | -67.31% | -74.45% |
| Return on Invested Capital (ROIC) | -43.22% | -58.83% | -98.45% | -157.1% | -143.18% | -235.64% | -281.87% | -301.08% | -567.83% | -876.1% |
| Gross Margin | - | - | - | - | - | -38.79% | -1606.29% | - | - | -360% |
| Net Margin | - | - | - | - | - | -4489.42% | -8357.86% | - | - | -20794.57% |
| Debt / Equity | - | - | - | 0.22x | 0.50x | 0.32x | - | 0.21x | 0.08x | 0.09x |
| Interest Coverage | - | - | - | - | - | - | - | -39.61x | - | - |
| FCF Conversion | 0.85x | 0.43x | 0.64x | 0.74x | 0.71x | 0.85x | 0.80x | 0.78x | 0.68x | 0.74x |
| Revenue Growth | - | - | - | - | - | - | -50.63% | -100% | - | - |
Pulse Biosciences, Inc. (PLSE) SEC filings — annual & quarterly reports (10-K, 10-Q)
May 6, 2026·SEC
May 4, 2026·SEC
Apr 27, 2026·SEC
Pulse Biosciences, Inc. (PLSE) stock FAQ — growth, dividends, profitability & financials explained
Pulse Biosciences, Inc. (PLSE) reported $0.3M in revenue for fiscal year 2025.
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 $72.8M for fiscal year 2025.
Pulse Biosciences, Inc. (PLSE) has a return on equity (ROE) of -74.4%. Negative ROE indicates the company is unprofitable.
Pulse Biosciences, Inc. (PLSE) had negative free cash flow of $54.4M in fiscal year 2025, likely due to heavy capital investments.
Pulse Biosciences, Inc. (PLSE) financial analysis — history, returns, DCA and operating performance tools
Historical returns with dividends reinvested
Dollar cost averaging vs lump sum
Yield, growth, payout safety & DRIP
EPS trends, net income & profitability
Long-term charts & historical price data
Sales growth patterns & revenue breakdown
30 years of market, efficiency and balance-sheet ratios
DCF intrinsic value, peer multiples & estimates