Pulse Biosciences, Inc. (PLSE) Financial Statements
Industry: Surgical & Medical Instruments & Apparatus
In fiscal 2025, Pulse Biosciences reported revenue of $350,000. Net income was -$72.8M (a -20794.6% net margin). Gross margin was -54.0% and operating margin was -21982.6%. Operating activities generated -$54.1M of cash, leaving -$54.4M of free cash flow. At fiscal year end, Pulse Biosciences held $94.5M in total assets against $13.9M in total liabilities, including $80.7M of cash and equivalents.
Open the full interactive Pulse Biosciences financials → Quarterly statements, key ratios, valuation history and price charts.
Pulse Biosciences Key Stats
| Share Price | $48.54 |
|---|---|
| Market Cap | $3.36B |
| 52-Week Range | $12.66 – $55.20 |
| Shares Outstanding | 69.2 million (basic, 2026 Q2) |
Pulse Biosciences Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Revenue | — | $1.4M | $700,000 | $0 | $0 | $350,000 |
| Cost of Goods Sold | $500,000 | $600,000 | $58.8M | — | — | $77.3M |
| Gross Profit | -$500,000 | -$550,000 | -$11.2M | $0 | — | -$189,000 |
| Operating Income | -$49.9M | -$63.0M | -$58.1M | -$43.6M | -$56.3M | -$76.9M |
| Pre-Tax Income | -$49.9M | -$63.7M | -$58.5M | -$42.2M | -$53.6M | $72.8M |
| Income Tax | — | — | $0 | $0 | $0 | $0 |
| Net Income | -$49.9M | -$63.7M | -$58.5M | -$42.2M | -$53.6M | -$72.8M |
| Diluted EPS | -$2.14 | -$2.28 | — | — | — | — |
Pulse Biosciences Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $86,000 | $264,000 | $401,000 | $434,000 |
| Net Income | -$19.4M | -$17.4M | -$18.6M | -$24.7M |
Pulse Biosciences Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $12.5M | $28.6M | $61.1M | $44.4M | $118.0M | $80.7M |
| Current Assets | $22.3M | $36.6M | $62.1M | $45.3M | $119.4M | $83.4M |
| Total Assets | $41.3M | $54.2M | $77.9M | $59.2M | $132.5M | $94.5M |
| Current Liabilities | $7.6M | $8.5M | $6.0M | $6.7M | $10.1M | $7.9M |
| Total Liabilities | $18.4M | $18.6M | $80.1M | $14.8M | $17.6M | $13.9M |
| Shareholders' Equity | $22.9M | $35.7M | -$2.2M | $44.4M | $114.9M | $80.7M |
Pulse Biosciences Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | -$35.4M | -$54.1M | -$47.0M | -$33.0M | -$36.3M | -$54.1M |
| Cash From Investing | $10.0M | $7.6M | -$401,000 | -$121,000 | -$125,000 | -$335,000 |
| Cash From Financing | $30.9M | $62.7M | $79.9M | $16.4M | $110.1M | $17.2M |
| Free Cash Flow | -$35.8M | -$54.5M | -$47.4M | -$33.2M | -$36.5M | -$54.4M |
Figures from Pulse Biosciences' 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full Pulse Biosciences financials page for every line item.
Pulse Biosciences Company Profile
| Ticker | PLSE |
|---|---|
| Exchange | Nasdaq |
| Industry | Surgical & Medical Instruments & Apparatus |
| Headquarters | Hayward, California |
| Incorporated in | Delaware |
| Fiscal Year End | December 31 |
| SEC Filer Category | Non-accelerated filer, smaller reporting company |
| SEC CIK | 0001625101 |
Frequently Asked Questions
What was Pulse Biosciences' revenue in fiscal 2025?
Pulse Biosciences (PLSE) reported revenue of $350,000 for fiscal 2025.
What is Pulse Biosciences' annual revenue history?
Pulse Biosciences' annual revenue by fiscal year: 2021: $1.4M; 2022: $700,000; 2023: $0; 2024: $0; 2025: $350,000.
What was Pulse Biosciences' net income in fiscal 2025?
Pulse Biosciences reported net income of -$72.8M for fiscal 2025.
How much free cash flow did Pulse Biosciences generate in fiscal 2025?
Pulse Biosciences generated -$54.4M of free cash flow in fiscal 2025.
What was Pulse Biosciences' revenue last quarter?
In its most recent reported quarter (2026 Q2), Pulse Biosciences reported revenue of $434,000.
How many shares of Pulse Biosciences are outstanding?
Pulse Biosciences reported a weighted average of 69.2 million basic shares outstanding in 2026 Q2.
What is Pulse Biosciences' market cap?
Based on its latest closing price, Pulse Biosciences (PLSE) has a market capitalization of about $3.36B.
When does Pulse Biosciences' fiscal year end?
Pulse Biosciences' fiscal year end, as registered with the SEC, is December 31.
Where is Pulse Biosciences headquartered?
Pulse Biosciences lists its business address in Hayward, California in its SEC filings.