Pulsenmore Ltd. Announces Financial Results and Business Highlights for the First Half of 2026

Pulsenmore (NASDAQ/TASE: PLSM) reported H1 2026 revenues of NIS 6.1 million (≈$2.0 million), up 53% year over year, with gross profit rising 53% to NIS 2.2 million.

Rhea-AI Summary

Pulsenmore (NASDAQ/TASE: PLSM) reported H1 2026 revenues of NIS 6.1 million (≈$2.0 million), up 53% year over year, with gross profit rising 53% to NIS 2.2 million. Operating expenses increased 4% to NIS 23 million, keeping operating loss broadly flat at NIS 20.8 million.

Net financial expenses climbed to NIS 14.3 million, driving total comprehensive loss to NIS 35 million (up 51%). The company raised NIS 22.5 million (≈$7.5 million) in a private placement and ended June 30, 2026 with NIS 70 million (≈$23.4 million) in cash, cash equivalents, and short-term deposits. Operationally, Pulsenmore launched U.S. commercialization following FDA authorization, signed its first U.S. provider agreements, sold about 4,265 devices, secured ES Tera regulatory clearances, expanded partnerships in Israel and the U.S., and obtained NIS 5 million (≈$1.67 million) in AI grants.

Positive

• Revenue +53% YoY to NIS 6.1m in H1 2026
• Gross profit +53% YoY to NIS 2.2m in H1 2026
• Raised NIS 22.5m (≈$7.5m) via private placement in June 2026
• Ended June 30, 2026 with NIS 70m (≈$23.4m) in cash and deposits
• Sold approximately 4,265 devices in the first half of 2026
• Received AI grants totaling NIS 5m (≈$1.67m) supporting programs of NIS 9.3m scope
• Secured FDA and Israel regulatory clearances for ES Tera and began first U.S. shipments
• Initiated U.S. commercialization with first provider agreements and e-commerce launch

Negative

• Total comprehensive loss rose 51% to NIS 35m in H1 2026
• Net financial expenses increased to NIS 14.3m, up 472% year over year
• Operating loss remained high at NIS 20.8m in H1 2026
• Net cash used in operating activities was NIS 17.6m (≈$5.9m) in H1 2026
• Equity decreased to NIS 48.3m at June 30, 2026 from NIS 83.1m at January 1, 2026
• Current warrant liability recorded at NIS 33.2m, impacting balance sheet and financial expenses

News Explained

The June financing supplied NIS 22.5 million but created warrant-based dilution exposure; the warrants remained liability-accounted at June 30.

In June 2026, Pulsenmore entered into a securities purchase agreement that generated gross proceeds of NIS 22.5 million during the first half, making the financing a completed cash-raising event.

The investor received 1,562,500 pre-funded warrants and ordinary warrants to purchase up to 1,562,500 ordinary shares; if exercised, these instruments can increase the share count and reduce existing holders’ percentage ownership.

A pre-funded warrant converts to shares when exercised and carries a nominal exercise price after being sold near the full share price; the company accounted for these warrants as a liability and excluded them from basic and diluted weighted-average shares because their effect was anti-dilutive.

The company reported NIS 14.3 million of net financial expenses for the six months ended June 30, 2026, attributing the increase primarily to the placement and recognition of the excess initial fair value of the pre-funded warrants over transaction proceeds.

At June 30, 2026, the balance sheet reported a warrant liability, while the company reported cash, cash equivalents, and short-term deposits of NIS 70 million.

Thus, the financing provided cash during H1 2026 while leaving existing holders with contingent ownership dilution tied to exercise of the disclosed warrants.

News Market Reaction – PLSM

+1.21% 6.7x vol

5 alerts

+1.21% Session close to close

+3.6% Peak in 24 min

$18.86M Market Cap

6.7x Rel. Volume

In the Aug 31 session, PLSM gained 1.21%, reflecting a mild positive market reaction. Argus tracked a peak move of +3.6% during that session. Our momentum scanner triggered 5 alerts that day, indicating moderate trading interest and price volatility. Trading volume was exceptionally heavy at 6.7x the daily average, suggesting very strong buying interest.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The tag-specific record includes news_id 1033039 as one prior earnings comparator. The H1 release ad...

Analysis

The tag-specific record includes news_id 1033039 as one prior earnings comparator. The H1 release adds U.S. commercialization and financial detail; short positioning was categorized as low, while operating losses and financing-related expenses remain key risks to monitor.

Key Figures

Revenue: NIS 6.1 million Gross Profit: NIS 2.2 million Operating Expenses: NIS 23 million +5 more

8 metrics

Revenue NIS 6.1 million H1 2026, up 53% from NIS 4 million in H1 2025

Gross Profit NIS 2.2 million H1 2026, up 53% from NIS 1.5 million in H1 2025

Operating Expenses NIS 23 million H1 2026, up 4% from NIS 22.1 million in H1 2025

Operating Loss NIS 20.8 million H1 2026, compared with NIS 20.6 million in H1 2025

Net Financial Expenses NIS 14.3 million H1 2026, up 472% from NIS 2.5 million in H1 2025

Comprehensive Loss NIS 35 million H1 2026, up 51% from NIS 23.2 million in H1 2025

Cash and Deposits NIS 70 million As of June 30, 2026

Private Placement Proceeds NIS 22.5 million June 2026 private placement, before expenses

Previous Earnings Reports

1 past event · Latest: Mar 30 (Positive)

Same Type Pattern 1 events

Date	Event	Sentiment	24h Move	Catalyst
Mar 30	Full-year earnings	Positive	+0.0%	Revenue rose sharply while net loss improved, aided by a one-time GE settlement

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

The sole tag-specific earnings event had a 0% 24-hour reaction despite positive reported results, indicating no historical price alignment.

Key Terms

marketing authorization, pre-funded warrants, fair value, anti-dilutive

4 terms

marketing authorization regulatory

"following FDA marketing authorization for its home ultrasound platform"

An official government approval that allows a drug, vaccine, or medical device to be sold and promoted in a specific country or region. Think of it as a safety and effectiveness passport issued after regulators review the product’s tests and manufacturing; for investors, receiving this authorization typically unlocks sales, revenue potential, and lower regulatory risk, while delays or denials can substantially affect a company’s value and timeline.

pre-funded warrants financial

"1,562,500 pre-funded warrants and ordinary warrants"

Pre-funded warrants are financial instruments that give investors the right to purchase a company's stock at a set price, but with most or all of the purchase price paid upfront. They function like a coupon or gift card for stock, allowing investors to buy shares later at a fixed price, which can be beneficial if they want to avoid future price increases. This makes them important for investors seeking flexibility and certainty in their investment plans.

fair value financial

"recognition of the excess of initial fair value of pre-funded warrants"

Fair value is an estimate of what an asset or company is really worth today, derived from expected future earnings, comparable market prices and other relevant facts—like agreeing a price for a used car after checking mileage, condition and similar listings. Investors use fair value to decide whether a stock looks overpriced or undervalued, which helps guide buy, hold or sell decisions and sets expectations for potential returns and risk.

View in glossary

anti-dilutive financial

"their effect would have been anti-dilutive"

A claim, security feature, or action described as anti-dilutive prevents or does not cause a reduction in existing shareholders’ per-share values when additional shares could be issued. For example, certain convertible securities or corporate actions are treated as anti-dilutive for earnings-per-share calculations if including them would raise EPS rather than lower it; investors watch this because it affects reported per-share metrics, ownership percentages, and valuation comparisons, like keeping pie slices the same size instead of making them smaller.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Management to Host Webcast today at 8:30 am ET to discuss Results and Provide Business Update

OMER, Israel, Aug. 31, 2026 /PRNewswire/ -- Pulsenmore Ltd. (NASDAQ: PLSM) (TASE: PLSM), a leading innovator in remote maternal-fetal healthcare and home ultrasound solutions, presents the key operational, commercial, regulatory, and technological achievements as well as financial updates for the six month period ended June 30, 2026.

During the first half of 2026, Pulsenmore advanced its commercialization efforts in the United States following FDA marketing authorization for its home ultrasound platform, while continuing to advance product development, regulatory approvals, prepare for manufacturing and pursue strategic collaborations.

H1 2026 Highlights

Commercial & Business Development

• The Company officially launched its U.S. commercial activities following FDA market authorization and showcased its platform at the Society for Maternal-Fetal Medicine (SMFM) Pregnancy Meeting in Las Vegas in February 2026.
• The Company signed its first U.S. commercial agreements with: 
  • The Center for Fetal Maternal Ultrasound (CFFM) in Los Angeles, California
  • TLC Perinatal Care in Silver Spring, Maryland
• The Company completed its first provider onboarding in the United States at the end of January 2026.
• The Company recorded its first U.S. home ultrasound patient scan during February 2026.
• Pulsenmore's U.S. e-commerce platform officially opened for online orders in April 2026.
• The Company expanded discussions with digital health and maternal-care organizations regarding potential collaborations intended to support broader access to virtual obstetric care.
• In June 2026, the Company announced a strategic partnership with Ouma Health to expand access to remote prenatal care across the U.S. The collaboration aims to deliver transformative care for the most underserved patients including those living in maternity deserts and underserved communities and establish insights and experience to support future expansion opportunities with healthcare systems, maternity care providers, and payer organizations seeking innovative approaches for maternal health delivery.
• In August 2026, the Company announced that its home ultrasound technology will be integrated at Lis Maternity and Women's Hospital at Ichilov, expanding the ability to incorporate at-home ultrasound scans as part of pregnancy monitoring.

Strategic Partnerships & Healthcare Expansion 

• Pulsenmore signed an addendum to its agreement with Clalit Health Services, regarding its Pulsenmore FC (follicles monitoring) product, strengthening its collaboration in Israel.

Product Development & Technology

• The Company supported FDA and AMAR submissions for the ES Tera product line (compatible for both iOS and Android devices). The Company received applicable regulatory clearances or authorizations for the ES Tera product line from the FDA and Israel's Ministry of Health Medical Device Division, as applicable.
• Initial ES Tera production lots and first shipments to the U.S. market were completed
• After the period ended June 30, 2026, in July 2026, the Company announced that it has been selected to participate in Israel's Healthcare AI Regulatory Sandbox Program, established by the Israel Innovation Authority and the Ministry of Health. As part of the program, the Company will lead a NIS 3 million (approximately $1 million) project in which the grant approved amounted to NIS 1.2 million (approximately $0.4 million). In August 2026, the Company announced that it received a second AI grant, after the Israel Innovation Authority approved NIS 3.8 million (approximately $1.27 Million) for the SmartScan AI Program. The second grant brings the total AI grants approved for the Company in the past months to NIS 5 million (approximately $1.67 million), supporting two programs with a combined scope of NIS 9.3 million approximately $3.12 million.

Manufacturing & Operations

• Pulsenmore sold approximately 4,265 devices during the first half of 2026
• Pulsenmore progressed planning for new production facilities and infrastructure expansion
• The Company continued development of its proprietary automated ultrasound transducer production line, with plans to establish automated manufacturing operations in Israel beginning in 2027.

Intellectual Property

Pulsenmore strengthened its intellectual property portfolio with multiple newly granted patents during H1 2026, including patents related to:

• Ultrasound imaging systems for non-skilled users
• Systems for acquiring ultrasound images
• Wearable ultrasonic devices

Regulatory Achievements

Key regulatory milestones achieved during H1 2026 included:

• U.S. clearance expansion for the Pulsenmore ES Tera device
• Submission of a Q-Sub application for potential expansion of Pulsenmore ES indications in the U.S

Private Placement with a Single Healthcare Focused Institutional Investor

In June 2026, the Company entered into a securities purchase agreement with a healthcare-focused institutional investor, for the purchase and sale of 1,562,500 pre-funded warrants and ordinary warrants to purchase up to 1,562,500 ordinary shares in a private placement at a combined purchase price of $4.7999 per pre-funded warrant and accompanying ordinary warrant), representing a premium to the then Nasdaq Minimum Price under Nasdaq rules.

The gross proceeds from the offering were NIS 22.5 million (approximately $7.5 million), before deducting placement agent commissions and other offering expenses.

Management Commentary

"The first half of 2026 marked a transformative period for Pulsenmore as we initiated commercial operations in the United States following FDA authorization and achieved multiple strategic milestones across commercialization, regulation, manufacturing, and innovation," said Dr. Elazar Sonnenschein, Chief Executive Officer of Pulsenmore Ltd. "As we move into the second half of the year, our focus is on scaling the commercial base and converting the early stages of this year to actual revenues. We believe our achievements to date position Pulsenmore for continued growth as we expand access to remote maternal-fetal healthcare worldwide."

Financial Results for the period ended June 30, 2026

• Revenues for the six months ended June 30, 2026, amounted to NIS 6.1 million (approximately $2 million), representing an increase of NIS 2.1 million (approximately $0.7 million), or 53%, compared to NIS 4 million (approximately $1.3 million) for the six months ended June 30, 2025. The increase in revenues from 2025 to 2026 resulted primarily from a higher volume of Pulsenmore ES units sold to our main customer, Clalit, fueled by the Company's enhanced marketing efforts, and also from revenue recognition of 300 Pulsenmore FC units in 2026.
• Gross profit for the six months ended June 30, 2026, amounted to NIS 2.2 million (approximately $0.7 million), representing an increase of NIS 0.7 million (approximately $0.2 million) or 53%, compared to NIS 1.5 million (approximately $0.5 million) for the six months ended June 30, 2025. The gross profit resulted primarily from a higher volume of Pulsenmore ES units sold, and also from revenue recognition of 300 Pulsenmore FC units in 2026.
• Operating expenses for the six months ended June 30, 2026, amounted to NIS 23 million (approximately $7.7 million), representing an increase of NIS 0.9 million (approximately $0.3 million) or 4%, compared to NIS 22.1 million (approximately $7.4 million) for the six months ended June 30, 2025. The increase in operating expenses was primarily attributable to the Company's ongoing commercialization activities, product development efforts, and advertising expenses.
• Operating loss amounted to NIS 20.8 million (approximately $7 million) for the six months ended June 30, 2026, compared to operating loss of NIS 20.6 million (approximately $6.9 million) for the six months ended June 30, 2025, representing an increase of NIS 0.2 million (approximately $0.1 million), or 1%.
• Net financial expenses for the six months ended June 30, 2026, amounted to NIS 14.3 million (approximately $4.8 million), representing an increase of NIS 11.8 million (approximately $4 million), or 472%, compared to NIS 2.5 million (approximately $0.8 million) for the six months ended June 30, 2025. The increase was driven primarily by the private placement completed during the period, which resulted in the recognition of the excess of initial fair value of pre-funded warrants over transaction proceeds.
• Total comprehensive loss for the six months ended June 30, 2026, amounted to NIS 35 million (approximately $11.8 million), compared to total comprehensive loss of NIS 23.2 million (approximately $7.7 million) for the six months ended June 30, 2025, representing an increase of NIS 11.8 million (approximately $4.1 million), or 51%.
• As of June 30, 2026, the Company had cash, cash equivalents, and short-term bank deposits of NIS 70 million (approximately $23.4 million)

Webcast Details

Pulsenmore will host a webcast to review the results today on August 31 at 8:30am Eastern Time / 3:30pm Israel Time.

Webcast: https://teams.microsoft.com/meet/35050418577919?p=r5gfAIMDL65KJ8zKj3

A replay of the webcast will be available following the call on the Company's Investor Relations website at: https://pulsenmore.com/investor_relations

About Pulsenmore Ltd.

Pulsenmore Ltd. (Nasdaq/TASE: PLSM) is a healthcare technology company focused on transforming maternal-fetal healthcare through remote ultrasound and telemedicine solutions. The Company develops self-use and remote clinical ultrasound systems designed to improve accessibility, continuity of care, and patient engagement in pregnancy monitoring.

For more information, visit: www.pulsenmore.com

Forward-Looking Statements

This press release contains forward-looking statements. In particular, statements using words such as "may," "seek," "will," "consider," "likely," "assume," "estimate," "expect," "anticipate," "intend," "believe," "contemplate," "do not believe," "aim," "goal," "due," "predict," "plan," "project," "continue," "potential," "positioned," "guidance," "objective," "outlook," "trends," "future," "could," "would," "should," "target," "on track" or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to Pulsenmore's continued commercial momentum, potential expansion in the United States, opportunities, expected benefits and outcomes of collaborations and strategic partnerships, and planned manufacturing expansion and automated manufacturing operations. Forward-looking statements reflect Pulsenmore's current views, plans, or expectations with respect to future events or financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Pulsenmore's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, but not limited to, the following: the Company's lack of operating history; the Company's current and future capital requirements and the Company's belief that its existing cash will be sufficient to fund its operations for more than one year from the date that the financial statements are issued; the Company's ability to manufacture, market and sell its products and to generate revenues; the Company's ability to maintain its relationships with key partners and grow relationships with new partners; the Company's ability to maintain or protect the validity of its U.S. and other patents and other intellectual property; the Company's ability to launch and penetrate markets in new locations and new market segments; the Company's ability to retain key executive members and hire additional personnel; the Company's ability to maintain and expand intellectual property rights; interpretations of current laws and the passages of future laws; the Company's ability to achieve greater regulatory compliance needed in existing and new markets; the Company's ability to achieve key performance milestones in its planned operational testing; the Company's ability to establish adequate sales, marketing and distribution channels; security, political and economic instability in the Middle East that could harm its business; and acceptance of the Company's business model by investors. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the SEC, including, but not limited to, the risks, uncertainties and other factors included in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 and in subsequent filings with the SEC. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Pulsenmore or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Pulsenmore undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.

The financial information is presented in NIS millions (unless otherwise stated) and the figures presented are rounded accordingly. The convenience translations of the New Israeli Shekel (NIS) figures into US Dollars were made at the rate of exchange prevailing on June 30, 2026: US $1.00 equals NIS 2.978. The translations were made purely for the convenience of the reader.

Investor Contact

Miri Segal-Scharia MS-IR LLC
msegal@ms-ir.com

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION (UNAUDITED)
						Convenience translation into U.S. dollars (see note 2(b))
	December 31,			June 30,
	2025			2026		2026
	NIS in thousands					in thousands
Assets
CURRENT ASSETS
Cash and cash equivalents		21,604		43,584		14,635
Short-term bank deposits		47,531		26,180		8,791
Restricted deposits		140		-		-
Trade receivables		4,144		2,382		800
Other receivables		1,391		1,832		615
Inventory – current portion		6,593		6,345		2,131
Total current assets		81,403		80,323		26,972
NON-CURRENT ASSETS
Inventory – non-current portion		13,337		13,742		4,615
Right-of-use assets		1,285		752		253
Property and equipment, net		5,822		5,089		1,709
Total non-current assets		20,444		19,583		6,577
Total assets		101,847		99,906		33,549
Liabilities and equity
CURRENT LIABILITIES
Trade payables		1,980		3,463		1,163
Warrants		-		33,198		11,148
Other payable and accruals		4,407		4,121		1,384
Contract liabilities		938		81		27
Share-based compensation liability		276		278		93
Current maturities of liability for royalties to the Israel Innovation Authority		1,705		1,693		569
Current maturities of lease liabilities		1,023		840		282
Total current liabilities		10,329		43,674		14,666
NON-CURRENT LIABILITIES
Liability for royalties to the Israel Innovation Authority, net of current maturities		7,886		7,575		2,544
Lease liabilities, net of current maturities		542		319		107
Total non-current liabilities		8,428		7,894		2,651
Total liabilities		18,757		51,568		17,317
EQUITY
Ordinary shares		2		2		1
Share premium		256,137		256,137		86,009
Capital reserve		10,092		10,412		3,497
Accumulated deficit		(183,141)		(218,213)		(73,275)
Total equity		83,090		48,338		16,232
Total liabilities and equity		101,847		99,906		33,549

 

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF COMPREHENSIVE LOSS
(UNAUDITED)
					Convenience translation into U.S. dollars (see note 2(b))
	Six months ended June 30,
	2025		2026		2026
	NIS in thousands (except per share data)				in thousands (except per share data)
Revenues	3,999		6,080		2,042
Cost of revenues	2,542		3,855		1,294
Gross profit	1,457		2,225		748
Research and development expenses, net	8,029		8,459		2,840
Sales and marketing expenses	5,966		6,382		2,143
General and administrative expenses	8,083		8,141		2,734
Operating loss	20,621		20,757		6,969
Financial expenses	4,766		15,962		5,359
Financial income	(2,231)		(1,647)		(553)
Financial expenses, net	2,535		14,315		4,806
Loss before income tax	23,156		35,072		11,775
Provision for income tax	1		-		-
Net loss and comprehensive loss	23,157		35,072		11,775
Loss per ordinary share – basic and diluted (*)	3.6		5.39		1.83
Weighted average ordinary shares outstanding	6,429,059		6,502,844		6,502,844
(*) Basic loss per share does not include the above-mentioned 1,562,500 pre-funded warrants since they are accounted for as a liability. In addition, the impact of the pre-funded warrants has not taken in the diluted weighted average number of ordinary shares calculation as their effect would have been anti-dilutive.

 

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)
		Ordinary shares		Share premium		Capital reserve		Accumulated deficit		Total
		NIS in thousands
Balance at January 1, 2025		2		253,205		10,968		(167,288)		96,887
Changes in the six month period ended June 30, 2025:
Net loss and comprehensive loss for the year		-		-		-		(23,157)		(23,157)
Share-based compensation		-		-		506		-		506
Exercise of options		*		471		(199)		-		272
Expiration of options		-		280		(280)		-		-
Balance at June 30, 2025		2		253,956		10,995		(190,445)		74,508
Balance at January 1, 2026		2		256,137		10,092		(183,141)		83,090
Changes in the six month period ended 31June 30, 2026:
Net loss and comprehensive loss for the year		-		-		-		(35,072)		(35,072)
Share-based compensation		-		-		320		-		320
Balance at June 30, 2026		2		256,137		10,412		(218,213)		48,338
* Less than NIS 1 thousand

 

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CHANGES IN EQUITY (UNAUDITED)
		Convenience translation into U.S. dollars (see note 2(b))
		in thousands
		Ordinary shares		Share premium		Capital reserve		Accumulated deficit		Total
Balance at January 1, 2026		1		86,009		3,390		(61,500)		27,900
Changes in the six month period ended June 30, 2026:
Net loss and comprehensive loss for the year		-		-		-		(11,775)		(11,775)
Share-based compensation		-		-		107		-		107
Balance at June 30, 2026		1		86,009		3,497		(73,275)		16,232

 

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
										Convenience translation into U.S. dollars (see note 2(b))
		Six months ended June 30,
		2025				2026				2026
		NIS in thousands								in thousands
Net cash used in operating activities (see appendix)			(15,570)				(17,571)				(5,900)
Cash Flows from Investing Activities
Purchase of property and equipment			(97)				(134)				(45)
Proceeds from (investment in) short-term deposits			(2,289)				19,231				6,458
Interest received			964				1,291				434
Net cash provided by (used in) investing activities			(1,422)				20,388				6,847
Cash Flows from Financing Activities
Proceeds from private placement			-				22,507				7,558
Transaction costs related to private placement			-				(1,738)				(584)
Exercise of options			4				-				-
Payment to the Israel Innovation Authority			(287)				(160)				(53)
Receipt of grants from Israel Innovation Authority			1,319				-				-
Principal portion of lease payments			(574)				(652)				(218)
Interest portion of lease payments			(94)				(59)				(20)
Net cash provided by in financing activities			368				19,898				6,683
Increase (decrease) in cash and cash equivalents			(16,624)				22,715				7,630
Cash and cash equivalents at beginning of the period			41,170				21,604				7,255
Exchange differences on cash and cash equivalents			(105)				(735)				(250)
Cash and cash equivalents at end of the period			24,441				43,584				14,635

 

 

PULSENMORE LTD.
CONDENSED CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
Appendix to the statements of cash flows					Convenience translation into U.S. dollars (see note 2(b))
	Six months ended June 30,
	2025		2026		2026
	NIS in thousands				in thousands
Net loss	(23,157)		(35,072)		(11,775)
Adjustments for:
Depreciation and amortization	1,432		1,521		511
Share-based compensation	506		320		107
Financial expenses (income)	(15)		12,527		4,207
Exchange differences	3,356		1,627		546
	5,279		15,995		5,371
Changes in operating asset and liability items:
Decrease in trade receivables	1,240		1,762		592
Increase in other receivables	(22)		(441)		(149)
Increase (decrease) in inventory	1,465		(157)		(53)
Increase (decrease) in trade payables	(207)		1,483		498
Decrease in other payables and accruals	(379)		(286)		(97)
Increase (decrease) in contract liabilities	193		(857)		(288)
Increase in liability of share-based compensation	18		2		1
	2,308		1,506		504
Net cash used in operating activities	(15,570)		(17,571)		(5,900)
Supplemental information on non-cash transactions:
Changes in right-of-use asset and lease liabilities			110		37
Changes in share-based compensation liability	(268)		-		-

 

 

 

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SOURCE Pulsenmore Ltd.

FAQ

How did Pulsenmore (PLSM) perform financially in the first half of 2026?

Pulsenmore grew H1 2026 revenue 53% year over year to NIS 6.1 million. According to Pulsenmore, gross profit reached NIS 2.2 million, but total comprehensive loss widened to NIS 35 million due mainly to higher net financial expenses.

What caused Pulsenmore’s net loss to increase in H1 2026 (PLSM)?

Pulsenmore’s total comprehensive loss rose to NIS 35 million from NIS 23.2 million. According to Pulsenmore, the increase was driven primarily by higher net financial expenses of NIS 14.3 million, linked to accounting for pre-funded warrants from the June 2026 private placement.

How much cash does Pulsenmore (PLSM) have as of June 30, 2026?

Pulsenmore reported cash, cash equivalents, and short-term bank deposits totaling NIS 70 million (approximately $23.4 million) at June 30, 2026. According to Pulsenmore, this balance reflects proceeds from the June 2026 private placement offset by operating and investing cash outflows.

What were the key U.S. commercialization milestones for Pulsenmore (PLSM) in early 2026?

In H1 2026 Pulsenmore launched U.S. commercial activities after FDA authorization, signed its first U.S. provider agreements, and completed its first provider onboarding. According to Pulsenmore, it also recorded its first U.S. home ultrasound patient scan and opened a U.S. e-commerce platform.

What are the details of Pulsenmore’s June 2026 private placement (PLSM)?

In June 2026 Pulsenmore sold 1,562,500 pre-funded warrants and ordinary warrants at $4.7999 per unit. According to Pulsenmore, gross proceeds were NIS 22.5 million (approximately $7.5 million), before placement agent commissions and other offering expenses.

How many devices did Pulsenmore (PLSM) sell in the first half of 2026?

Pulsenmore sold approximately 4,265 devices during the first half of 2026. According to Pulsenmore, revenue growth in H1 2026 was mainly driven by higher Pulsenmore ES unit volumes to its main customer Clalit, plus recognition of 300 Pulsenmore FC units.

What regulatory and grant achievements did Pulsenmore (PLSM) report for H1 2026?

Pulsenmore obtained FDA and Israeli clearances for its ES Tera product line and submitted a U.S. Q-Sub. According to Pulsenmore, it also received AI grants totaling NIS 5 million to support two programs with combined scope of NIS 9.3 million.