Pulse Biosciences, Inc. PLSE R2K

Healthcare · Medical Instruments & Supplies · United States

https://www.pulsebiosciences.com

Pulse Biosciences, Inc. operates as a novel bioelectric medicine company. It offers nPulse System, a novel Nanosecond Pulsed-Field Ablation delivery platform to treat benign lesions of the skin; nPulse Vybrance Percutaneous Electrode system for soft tissue ablation in surgical setting; nPulse Cardiac Surgical Clamp designed for use in surgical treatment of atrial fibrillation (AF); nPulse Cardiac Catheter System designed to provide a circumferential, or circular, ablation in a single treatment cycle; and nPulse Console, a software-enabled console-based platform designed to accommodate the clinical workflow preferred by physicians. 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 Miami, Florida.

Market & Price

Market Cap

$1.73B

Current Price

$25.00

High / Low (52W)

$27.10 / $12.66

Beta

1.63

Valuation

Stock P/E

Industry PE

23.65

Forward P/E

PEG Ratio

Book Value

$1.19

Price to Book

21.03

P/S

2,303.92

EV/EBITDA

-21.85

Dividend Yield

Profitability & Returns

ROCE

-88.83%

ROE

-80.72%

ROA

-45.03%

Profit Margin

0.00%

Op Margin

EPS (Latest Qtr)

$-0.27

EPS (TTM)

$-1.10

Balance Sheet & Liquidity

Debt/Equity

0.11

Quick Ratio

6.99

Current Ratio

7.26

Debt

$7.16M

Total Assets

$94.54M

Current Assets

$83.42M

Working Capital

$75.50M

Ownership

Promoter Holding

73.38%

Chg in Prom Hold

FII / Inst Holding

11.56%

Chg in FII Hold

Financial Snapshot

Enterprise Value

$1.67B

Total Revenue (TTM)

$751.00K

EBITDA

$-76.40M

Free Cash Flow

$-29.08M

Operating Cash Flow

$-55.20M

Shares Outstanding

69.21M

Gross Margin

-21.04%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

-20.63%

Profit 5Y

-8.13%

Revenue (YoY)

Earnings (YoY)

PROS

In a confirmed uptrend (50-DMA above 200-DMA).

CONS

Revenue declined at -20.6% CAGR over 5 years.
Earnings shrank at -8.1% CAGR over 5 years.

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Healthcare).

#	Name	CMP $	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	PLSE Pulse Biosciences, Inc. R2K	25.00	-	$1.73B	-	-88.83%	-80.72%	-20.63%	-8.13%
2	LLY Eli Lilly and Company SPX	1,105.00	39.21	$985.37B	0.63%	38.44%	107.46%	31.69%	48.96%
3	JNJ Johnson & Johnson SPX	225.33	26.11	$542.42B	2.38%	23.13%	26.42%	5.60%	14.32%
4	UNH UnitedHealth Group Incorporated SPX	380.31	28.66	$345.38B	2.32%	9.60%	12.18%	11.35%	-15.69%
5	MRK Merck & Co., Inc. SPX	118.72	33.44	$293.22B	2.86%	20.66%	18.94%	3.12%	7.93%
6	TMO Thermo Fisher Scientific Inc. SPX	492.51	27.11	$183.03B	0.38%	9.17%	13.52%	-0.27%	-1.19%
7	AMGN Amgen Inc. NDXSPX	336.79	23.42	$181.77B	2.99%	18.02%	101.32%	11.77%	5.58%
8	GILD Gilead Sciences, Inc. NDXSPX	134.43	18.29	$166.90B	2.44%	22.92%	43.36%	2.57%	22.83%
9	ISRG Intuitive Surgical, Inc. NDXSPXAI	424.64	51.53	$150.39B	-	15.96%	17.23%	17.39%	29.26%

Quarterly Results

Figures in USD.

Metric	Jun 2015	Sep 2015	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018	Jun 2018	Sep 2018	Dec 2018	Mar 2019	Jun 2019	Sep 2019	Dec 2019	Mar 2020	Jun 2020	Sep 2020	Mar 2021	Jun 2021	Sep 2021	Mar 2022	Jun 2022	Sep 2022	Mar 2023	Jun 2023	Sep 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	574.00K	444.00K	265.00K	0	0	0	0	0	0	-	-	0	0	86.00K	264.00K	401.00K
Cost of Revenue	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	279.00K	260.00K	370.00K
Gross Profit	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-193.00K	4.00K	31.00K
Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	18.04M	20.27M	20.17M	18.26M	19.18M
Operating Income	-956.00K	-1.23M	-1.53M	-1.68M	-2.26M	-2.77M	-2.81M	-3.20M	-6.18M	-7.49M	-8.70M	-8.67M	-9.16M	-10.76M	-8.95M	-10.08M	-11.36M	-11.75M	-13.79M	-	-	-12.90M	-18.52M	-14.81M	-14.27M	-17.27M	-14.01M	-18.02M	-9.56M	-10.23M	-11.25M	-10.62M	-11.73M	-	-	-18.04M	-20.27M	-20.37M	-18.25M	-19.15M
EBITDA	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17.76M	-20.00M	-20.11M	-17.99M	-18.89M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-16.80M	-19.17M	-19.39M	-17.43M	-18.58M
Tax Provision	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	0	-	-	-
Net Income	-599.00K	-751.00K	-1.02M	-1.68M	-2.26M	-2.77M	-2.81M	-3.20M	-6.18M	-7.49M	-8.70M	-8.67M	-9.16M	-10.76M	-8.95M	-10.08M	-11.36M	-11.75M	-13.79M	-11.87M	-11.33M	-12.90M	-18.64M	-15.32M	-14.28M	-17.27M	-14.00M	-18.04M	-9.80M	-9.91M	-10.57M	-10.14M	-11.38M	-	-	-16.80M	-19.17M	-19.39M	-17.43M	-18.58M
Diluted EPS	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0.58	-0.48	-	-0.44	-0.49	-	-	-	-	-	-	-	-0.25	-0.28	-0.29	-0.26	-0.27
R&D Expense	547.00K	659.00K	951.00K	874.00K	1.43M	1.55M	1.65M	1.73M	2.13M	2.92M	2.86M	3.17M	3.96M	5.04M	5.08M	5.84M	6.34M	6.19M	6.59M	6.18M	5.87M	6.97M	9.06M	7.46M	6.46M	6.77M	5.46M	4.52M	5.83M	6.70M	7.47M	6.74M	7.23M	7.70M	-	10.31M	12.09M	11.39M	-	12.59M

Profit & Loss (Annual)

Figures in USD.

Metric	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Revenue	-	-	-	-	-	0	-	700.00K	0	0	350.00K
Cost of Revenue	-	-	-	-	-	-	-	11.94M	0	0	539.00K
Gross Profit	-	-	-	-	-	-	-	-11.24M	0	0	-189.00K
Operating Expenses	-	-	-	-	-	-	-	46.81M	43.57M	56.26M	76.75M
Operating Income	-4.47M	-9.52M	-25.57M	-37.55M	-47.95M	-49.97M	-	-58.06M	-43.57M	-56.26M	-76.94M
EBITDA	-	-	-	-	-	-	-	-56.70M	-42.37M	-55.08M	-75.87M
Interest Expense	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-	-	-	-	-	-	-	-58.51M	-42.21M	-53.59M	-72.78M
Tax Provision	-	-	-	-	-	-	0	0	0	0	-
Net Income	-2.81M	-9.52M	-25.57M	-37.55M	-46.97M	-49.85M	-	-58.51M	-42.21M	-53.59M	-72.78M
Diluted EPS	-	-	-	-	-	-	-	-1.69	-0.85	-0.92	-1.08
R&D Expense	2.18M	5.51M	9.65M	17.25M	24.96M	26.44M	28.64M	20.84M	27.80M	32.34M	44.72M

Compounded Sales Growth

5 Years:	-20.63%
1 Year:	-

Compounded Profit Growth

5 Years:	-8.13%
1 Year:	-

Stock Price Performance

1 Year:	+44.47%
6 Months:	+87.55%
3 Months:	+33.48%
1 Month:	+23.70%

Balance Sheet (Annual)

Figures in USD.

Metric	Dec 2014	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Total Assets	-	14.32M	26.31M	49.82M	70.64M	41.91M	41.29M	-	77.88M	59.15M	132.46M	94.54M
Current Assets	-	-	-	-	-	-	-	-	62.15M	45.33M	119.45M	83.42M
Cash & Equivalents	7.01M	3.61M	2.09M	3.39M	51.10M	6.90M	12.46M	-	61.14M	44.37M	118.04M	80.73M
Inventory	-	-	-	-	-	-	-	5.82M	0	-	0	136.00K
Receivables	-	-	-	-	-	-	-	61.00K	0	-	0	274.00K
Total Liabilities	-	-	1.02M	3.83M	4.31M	11.18M	18.40M	-	80.12M	14.79M	17.60M	13.88M
Current Liabilities	-	660.00K	1.02M	2.21M	3.11M	4.46M	7.58M	-	5.98M	6.71M	10.05M	7.92M
Long Term Debt	-	-	-	-	-	-	-	-	65.00M	-	-	-
Total Debt	-	-	-	-	-	-	-	-	75.96M	9.14M	8.90M	7.53M
Total Equity	16.07M	13.66M	25.30M	45.99M	66.33M	30.74M	22.89M	-	-2.25M	44.36M	114.86M	80.66M
Shares Outstanding	-	-	-	-	-	-	-	-	37.87M	56.08M	65.93M	67.84M

Cash Flows (Annual)

Figures in USD.

Metric	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Operating Cash Flow	-3.32M	-8.05M	-11.09M	-23.90M	-34.19M	-35.37M	-	-47.01M	-33.04M	-36.34M	-54.12M
Investing Cash Flow	-86.00K	-14.38M	-23.00M	26.12M	-10.10M	10.04M	-	-401.00K	-121.00K	-125.00K	-335.00K
Financing Cash Flow	-	20.91M	35.38M	45.50M	82.00K	30.89M	-	79.94M	16.39M	110.14M	17.15M
Capital Expenditure	-86.00K	-64.00K	-2.55M	-276.00K	-608.00K	-441.00K	-	-401.00K	-121.00K	-125.00K	-335.00K
Free Cash Flow	-3.40M	-8.12M	-13.64M	-24.17M	-34.79M	-35.81M	-	-47.41M	-33.16M	-36.47M	-54.46M
Net Change in Cash	-	-	-	-	-	-	-	32.52M	-16.77M	73.67M	-37.30M

Ratios (Annual)

Figures in %.

Metric	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024	Dec 2025
Gross Margin %	-	-	-	-	-	-	-	-1,606.3%	-	-	-54.0%
Operating Margin %	-	-	-	-	-	-	-	-8,293.9%	-	-	-21,982.6%
Net Margin %	-	-	-	-	-	-	-	-8,357.9%	-	-	-20,794.6%
ROE %	-20.6%	-37.6%	-55.6%	-56.6%	-152.8%	-217.7%	-	2,602.5%	-95.2%	-46.7%	-90.2%
ROCE %	-32.7%	-37.6%	-53.7%	-55.6%	-128.0%	-148.2%	-	-80.8%	-83.1%	-46.0%	-88.8%

Shareholding Pattern

Insiders

73.38%

Institutions

11.56%

Public Float

43.43%

Top Institutional Holders

#	Holder	% Held	Shares	Value
1	Blackrock Inc.	1.94%	1.34M	$33.49M
2	Bank of America Corporation	1.25%	866.06K	$21.65M
3	Vanguard Capital Management LLC	1.18%	815.85K	$20.40M
4	Portolan Capital Management, LLC	1.06%	733.37K	$18.33M
5	Geode Capital Management, LLC	0.71%	491.95K	$12.30M
6	Massachusetts Financial Services Co.	0.67%	462.90K	$11.57M
7	State Street Corporation	0.66%	456.93K	$11.42M
8	Balyasny Asset Management LP	0.38%	265.16K	$6.63M
9	Griffin Asset Management, Inc.	0.33%	225.18K	$5.63M
10	LMR Partners LLP	0.31%	213.14K	$5.33M

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