Every 10-Q that Pulse Biosciences, Inc (PLSE) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow PLSE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full PLSE filings page.
Pulse Biosciences, Inc., a novel ablation company developing Nano-pulse Stimulation and nsPFA technology for atrial fibrillation and soft-tissue applications, reported Q2 2026 product revenue of $434 thousand and a net loss of $24.7 million, or $0.36 per share.
For the first half of 2026, the company generated $835 thousand of product revenue and recorded a net loss of $43.2 million, driven mainly by $29.6 million in research and development and $15.0 million in selling, general and administrative expenses, including $6.9 million of stock-based compensation.
Cash and cash equivalents were $101.6 million at June 30, 2026, and management believes existing resources are sufficient for at least one year. During the quarter Pulse Biosciences raised $46.8 million of net proceeds by issuing 1.92 million shares through an at-the-market program, including purchases by its majority stockholder and CEO, and continued pivotal trials of its nPulse cardiac catheter and surgical clamp systems and market development of the Vybrance Percutaneous Electrode System.
Pulse Biosciences reported a net loss of $18.6M for the three months ended March 31, 2026, compared with $16.8M a year earlier, as it continues to invest heavily in its cardiac and soft-tissue ablation programs. Product revenue reached $0.4M, reflecting initial commercial sales of the Vybrance Percutaneous Electrode System.
Research and development expenses rose to $12.6M, while selling, general and administrative costs were $6.6M. Operating activities used $14.6M of cash. Cash and cash equivalents were $68.3M as of March 31, 2026, with an accumulated deficit of $481.9M.
The company initiated a 2026 strategic realignment to prioritize nsPFA electrophysiology catheters and cardiac devices for atrial fibrillation, reducing near-term spend on cardiac surgery market development and Vybrance sales and marketing. After quarter-end, it raised approximately $12.9M via an at-the-market share sale to its majority stockholder and CEO, and believes current resources and these proceeds can fund operations for at least one year past the financial statement issuance date.
Pulse Biosciences (PLSE) reported Q3 2025 results. Product revenue was $86 thousand. Operating expenses totaled $20.5 million, driven by research and development of $11.4 million and selling, general and administrative of $8.8 million. The company recorded a net loss of $19.4 million (basic and diluted net loss per share of $0.29).
Cash and cash equivalents were $95.2 million as of September 30, 2025, compared with $118.0 million at year‑end 2024. Net cash used in operating activities was $39.4 million for the nine months ended September 30, 2025. Financing inflows included $14.1 million from warrant exercises, $2.1 million from option exercises, and $0.6 million from the employee stock purchase plan.
The company began capitalizing inventory for the Vybrance Percutaneous Electrode System after FDA 510(k) clearance and commenced the PRECISE BTN clinical trial in September 2025 to support U.S. commercialization, targeting up to 50 patients across up to four sites, with over twenty patients treated to date. Common shares outstanding were 67,738 thousand as of September 30, 2025, and 67,767,578 as of October 31, 2025.
Pulse Biosciences (PLSE) reported no revenue and continues to operate at a loss while advancing its Nano-pulse Stimulation (NPS) product pipeline. Cash and cash equivalents were $106.3 million at June 30, 2025, with total assets of $120.3 million and stockholders' equity of $104.5 million. The company recorded a net loss of $19.2 million for the three months ended June 30, 2025 and $36.0 million for the six months ended June 30, 2025. Operating cash used totaled $26.3 million for the six-month period and stock-based compensation expense was $10.9 million for the same period. The company has an accumulated deficit of $426.5 million and reports no material cash flows from operations.
The company completed a $60.0 million rights offering in July 2024 (majority purchased by Robert Duggan) and has received $63.5 million in cumulative gross proceeds from exercises of related warrants including $14.1 million during the six months ended June 30, 2025. Regulatory and clinical milestones include FDA 510(k) clearances for the nsPFA Percutaneous Electrode System (initial and a second needle size), placement of CellFX at nine U.S. sites with over 140 patient treatments to date, Breakthrough Device designation and TAP enrollment for the cardiac surgical clamp, and active IDE interactions and planned pivotal U.S. trials for cardiac devices.