PULSE BIOSCIENCES, INC.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $350,000 | $0 | $0 | $700,000 | $1.4M |
| Cost of revenue | $539,000 | $0 | $0 | $11.9M | $600,000 |
| Selling, general & administrative | $32.0M | $23.9M | — | — | — |
| Research and development | $44.7M | $32.3M | $27.8M | $20.8M | $28.6M |
| Operating income | -$76.9M | -$56.3M | -$43.6M | -$58.1M | -$63.0M |
| Pretax income | $72.8M | $53.6M | -$42.2M | -$58.5M | -$63.7M |
| Income tax expense | $0 | $0 | $0 | $0 | $0 |
| Net income | -$72.8M | -$53.6M | -$42.2M | -$58.5M | -$63.7M |
| Balance Sheet | |||||
| Cash and equivalents | $80.7M | $118.0M | $44.4M | $61.1M | $28.6M |
| Current assets | $83.4M | $119.4M | $45.3M | $62.1M | $36.6M |
| Total assets | $94.5M | $132.5M | $59.2M | $77.9M | $54.2M |
| Current liabilities | $7.9M | $10.1M | $6.7M | $6.0M | $8.5M |
| Total liabilities | $13.9M | $17.6M | $14.8M | $80.1M | $18.6M |
| Stockholders' equity | $80.7M | $114.9M | $44.4M | -$2.2M | $35.7M |
| Cash Flow Statement | |||||
| Cash from operations | -$54.1M | -$36.3M | -$33.0M | -$47.0M | -$54.1M |
| Depreciation and amortization | $406,000 | $512,000 | $542,000 | $690,000 | $480,000 |
| Stock-based compensation | $21.5M | $13.6M | $7.2M | $5.2M | $14.6M |
| Capital expenditure | $315,000 | $125,000 | $121,000 | $401,000 | $437,000 |
| Free cash flow | -$54.4M | -$36.5M | -$33.2M | -$47.4M | -$54.5M |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 69.2M · Free float 22.9%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.