# Pulse Biosciences, Inc. (PLSE)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $1.82B  
**Price:** $26.89 (+7.60%)

> Pulse Biosciences, Inc. is a bioelectric medicine company specializing in the development of novel Nanosecond Pulsed Field Ablation (nsPFA) platforms. Its primary focus centers on the patented nPulse technology, which enables precise, non-thermal ablation of soft tissues for applications in dermatology, cardiology, and surgical procedures. Key products include the CellFX System for treating benign skin lesions, the CellFX nsPFA Percutaneous Electrode for soft tissue ablation, the CellFX nsPFA Cardiac Clamp for surgical atrial fibrillation treatment, and the CellFX nsPFA 360° Cardiac Catheter for circumferential cardiac ablation. The company also offers the CellFX Console, a tunable, software-enabled platform supporting physician workflows. Pulse Biosciences, Inc. targets high-impact healthcare areas such as restoring normal cardiac rhythm in atrial fibrillation patients and ablating benign thyroid nodules and tumors. Founded in 2014 and headquartered in Miami, Florida, it plays a pivotal role in advancing minimally invasive, bioelectric therapies within the medical instruments and supplies sector.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $350,000 | -$189,000 | -$77M | -$73M | — |
| 2024 | — | — | -$56M | -$54M | — |
| 2023 | — | — | -$44M | -$42M | — |
| 2022 | $700,000 | -$11M | -$58M | -$59M | — |
| 2021 | $1M | -$550,000 | -$63M | -$64M | — |
| 2020 | — | — | -$50M | -$50M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $95M | $14M | $81M | $81M | — |
| 2024 | $132M | $18M | $115M | $118M | — |
| 2023 | $59M | $15M | $44M | $44M | — |
| 2022 | $78M | $80M | -$2M | $61M | — |
| 2021 | $59M | $15M | $44M | $44M | — |
| 2020 | $41M | $18M | $23M | $12M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$54M | $315,000 | -$54M |
| 2024 | -$36M | $125,000 | -$36M |
| 2023 | -$33M | $121,000 | -$33M |
| 2022 | -$47M | $401,000 | -$47M |
| 2021 | -$54M | $437,000 | -$55M |
| 2020 | -$35M | $441,000 | -$36M |
| 2019 | -$34M | $608,000 | -$35M |
| 2018 | -$24M | $276,000 | -$24M |
| 2017 | -$11M | $3M | -$14M |
| 2016 | -$8M | $64,000 | -$8M |
| 2015 | -$3M | $86,000 | -$3M |

Source: [CompaniesByCap](https://companiesbycap.com/company/PLSE)