Get started

Financials · PLSE

Pulse Biosciences Inc (PLSE) financials

For the twelve months ended Sep 30, 2026, Pulse Biosciences Inc reported $1.49M of revenue and -$83.72M of net income.

Revenue, TTM
$1.49M
Revenue growth, YoY
+1637.2%
Net income, TTM
-$83.72M
Net margin
-5603.9%
Free cash flow, TTM
-$63.70M
Cash
$36.73M
P/S
2544.03
Market cap
$3.80B
Annual revenue$350.0K
FY2016FY2025
Annual net income-$72.78M
FY2016FY2025
Annual free cash flow-$54.44M
FY2016FY2025

PLSE revenue and earnings growth

PLSE revenueQ3 2026$395.0K

Quarter YoY
+359.3%
QoQ
-9.0%

PLSE revenue was $395.0K in fiscal Q3 2026 (ended Sep 30, 2026), up 359.3% from a year earlier and down 9.0% from the prior quarter. For the full fiscal 2025 it was $350.0K, compared with $0 in fiscal 2024.

PLSE net incomeQ3 2026-$23.05M

PLSE net income was -$23.05M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$19.39M a year earlier. For the full fiscal 2025 it was -$72.78M, compared with -$53.59M in fiscal 2024.

PLSE free cash flowQ3 2026-$15.41M

PLSE free cash flow was -$15.41M in fiscal Q3 2026 (ended Sep 30, 2026), compared with -$13.10M a year earlier. For the full fiscal 2025 it was -$54.44M, compared with -$36.47M in fiscal 2024.

Export CSV

Income statement

Income statement
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue$350.0K$0$0$700.0K$1.42M$0$983.0K$446.0K$247.0K$68.0K
Cost of revenue$539.0K$0$0$11.94M$1.97M$0$600.0K$600.0K$800.0K$500.0K
Gross profit-$189.0K$0$0-$11.24M-$550.0K$0$383.0K-$154.0K-$553.0K-$432.0K
Research and development$44.72M$32.34M$27.80M$20.84M$28.64M$26.44M$24.96M$17.25M$9.65M$5.51M
Selling, general and admin$32.03M$23.92M$15.78M$13.96M$19.07M$16.27M$17.14M$20.05M$15.50M$3.42M
Operating income-$76.94M-$56.26M-$43.57M-$58.06M-$63.01M-$49.97M-$47.95M-$37.55M-$25.57M-$9.52M
Pre-tax income$72.80M$53.60M-$42.21M-$58.51M-$63.66M-$49.85M-$46.97M-$37.55M--
Income tax$0$0$0$0$0$0----
Net income-$72.78M-$53.59M-$42.21M-$58.51M-$63.66M-$49.85M-$46.97M-$37.55M-$25.57M-$9.52M
EPS, basic-$1.08-$0.92-$0.85-$1.72-$2.28-$2.14-$2.26-$2.20-$1.73-$0.86
EPS, diluted-----$2.28-$2.14-$2.26-$2.20-$1.73-$0.86
Diluted shares----28.0M23.2M20.7M17.1M14.8M11.0M

Balance sheet

Balance sheet
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Cash and equivalents$80.73M$118.04M$44.37M$61.14M$44.37M$12.46M$6.90M$51.10M$3.39M$2.09M
Short-term investments-----$8.01M-$8.48M$34.68M$14.31M
Receivables$274.0K$0-$0$61.0K-----
Inventory$136.0K$0-$0$5.82M-----
Current assets$83.42M$119.45M$45.33M$62.15M$45.33M$22.34M$26.40M$60.36M$38.48M$16.66M
Goodwill$2.79M$2.79M$2.79M$2.79M$2.79M$2.79M$2.79M$2.79M$2.79M$2.79M
Total assets$94.54M$132.46M$59.15M$77.88M$59.15M$41.29M$41.91M$70.64M$49.82M$26.31M
Current liabilities$7.92M$10.05M$6.71M$5.98M$6.71M$7.58M$4.46M$3.11M$2.21M$1.02M
Total liabilities$13.88M$17.60M$14.79M$80.13M$14.79M$18.40M$11.18M$4.31M$3.83M$1.02M
Shareholders' equity$80.66M$114.86M$44.36M-$2.25M$44.36M$22.89M$30.74M$66.33M$45.99M$25.30M

Cash flow

Cash flow
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Operating cash flow-$54.12M-$36.34M-$33.04M-$47.01M-$54.10M-$35.37M-$34.19M-$23.90M-$11.09M-$8.05M
Capital expenditures$315.0K$125.0K$121.0K$401.0K$437.0K$441.0K$608.0K$276.0K$2.55M$64.0K
Free cash flow-$54.44M-$36.47M-$33.16M-$47.41M-$54.53M-$35.81M-$34.79M-$24.17M-$13.64M-$8.12M
Investing cash flow-$335.0K-$125.0K-$121.0K-$401.0K$7.56M$10.04M-$10.10M$26.12M-$23.00M-$14.38M
Financing cash flow$17.15M$110.14M$16.39M$79.94M$62.69M$30.89M$82.0K$45.50M$35.38M$20.91M
Stock-based compensation$21.46M$13.59M$7.18M$5.19M$14.60M$10.07M$11.29M$12.34M$10.93M$870.0K

Key ratios

Key ratios
Line item
FY2025
Dec 31, 2025
FY2024
Dec 31, 2024
FY2023
Dec 31, 2023
FY2022
Dec 31, 2022
FY2021
Dec 31, 2021
FY2020
Dec 31, 2020
FY2019
Dec 31, 2019
FY2018
Dec 31, 2018
FY2017
Dec 31, 2017
FY2016
Dec 31, 2016
Revenue growth, YoY---100.0%-50.6%--100.0%120.4%80.6%263.2%-
Gross margin-54.0%---1606.3%-38.8%-39.0%-34.5%-223.9%-635.3%
Operating margin-21982.6%---8293.9%-4443.9%--4878.3%-8418.2%-10351.0%-13997.1%
Net margin-20794.6%---8357.9%-4489.4%--4778.3%-8418.2%-10351.0%-13997.1%
Free cash flow margin-15553.4%---6773.4%-3845.8%--3539.5%-5419.7%-5521.5%-11933.8%
Return on equity-90.2%-46.7%-95.2%--143.5%-217.7%-152.8%-56.6%-55.6%-37.6%
Return on assets-77.0%-40.5%-71.4%-75.1%-107.6%-120.7%-112.1%-53.1%-51.3%-36.2%
Current ratio10.5311.886.7610.396.762.955.9219.4217.3916.40

Source: XBRL data Pulse Biosciences Inc files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.

* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.

Per-share figures are as filed. The filings show no stock split in these periods.

EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.

PLSE peers

CompanyRevenueGrowthNet incomeNet marginMarket cap
PLSE$1.49M+1637.2%-$83.72M-5603.9%$3.80B
SYK$26.30B+7.9%$3.62B13.8%$124.05B
MMM$25.25B+1.7%$3.54B14.0%$95.67B
BSX$21.07B+8.9%$3.50B16.6%$61.96B
BDX$23.25B+17.4%$941.00M4.0%$57.71B
MDLN$30.68B-$683.00M2.2%$52.13B
RMD$5.73B+9.0%$1.59B27.8%$33.10B
DXCM$5.10B+13.0%$991.00M19.4%$29.62B
WST$3.40B+12.6%$638.90M18.8%$27.85B

PLSE FAQ

7 questions
  • What is PLSE revenue?
    Pulse Biosciences Inc (PLSE) reported $1.49M of revenue for the twelve months ended Sep 30, 2026. That is up 1637.2% from the year before. Revenue for fiscal 2025 was $350.0K.
  • Is PLSE profitable?
    No. Pulse Biosciences Inc reported a net loss of $83.72M for the twelve months ended Sep 30, 2026.
  • How much cash and debt does PLSE have?
    Pulse Biosciences Inc reported $36.73M in cash and cash equivalents on its most recent balance sheet in SEC filings.
  • What is PLSE gross margin?
    Pulse Biosciences Inc's gross profit was $400.0K on $1.49M of revenue for the twelve months ended Sep 30, 2026, a gross margin of 26.8%.
  • What is PLSE free cash flow?
    Pulse Biosciences Inc generated -$63.70M of free cash flow for the twelve months ended Sep 30, 2026, which is operating cash flow of -$63.33M less capital expenditures.
  • When did PLSE last report financial results?
    The latest statements here come from Pulse Biosciences Inc's 10-Q filed on Nov 5, 2026, covering the period ended Sep 30, 2026.
  • Where does this PLSE financial data come from?
    Quantisnow builds these statements from the structured XBRL data Pulse Biosciences Inc files with the SEC. It is provided for information only and is not investment advice.