PLSE · XBRL financial data

Pulse Biosciences financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (PLSE's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	0	1,418	700	0	0	350
Cost of revenue	0	1,968	11,944	0	0	539
Cost of goods and services sold	500	600	—	—	—	—
Research and development	26,444	28,640	20,839	27,797	32,336	44,721
Selling, general and administrative	—	—	—	—	23,921	32,029
General and administrative	22,856	19,073	13,955	15,777	23,921	—
Total operating expenses	49,965	—	—	—	—	—
Operating income (loss)	(49,851)	(63,014)	(58,057)	(43,574)	(56,257)	(76,939)
Other income (expense)	—	—	—	—	(18)	(52)
Income tax expense (benefit)	0	0	0	0	0	0
Net income (loss)	(49,851)	(63,660)	(58,505)	(42,210)	(53,585)	(72,781)
Earnings per share, basic USD per share	(2.14)	(2.28)	(1.72)	(0.88)	(0.92)	(1.08)
Weighted average shares, basic thousands of shares	23,248	27,964	33,935	48,038	58,398	67,395

Fiscal years (PLSE's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	12,463	28,614	61,139	44,365	118,038	80,735
Short-term investments	8,012	—	—	—	—	—
Marketable securities	8,012	—	—	—	—	—
Accounts receivable	—	61	0	—	0	274
Inventory	—	5,824	0	—	0	136
Prepaid and other current assets	1,864	2,131	1,008	963	1,411	2,276
Total current assets	22,339	36,630	62,147	45,328	119,449	83,421
Property and equipment, net	2,478	2,462	1,961	1,528	1,160	1,051
Right-of-use asset	9,438	8,785	8,062	7,256	7,163	6,010
Goodwill	2,791	2,791	2,791	2,791	2,791	2,791
Total assets	41,293	54,249	77,877	59,154	132,460	94,539
Accounts payable	1,717	2,904	1,573	1,836	1,673	2,777
Accrued liabilities	5,326	4,389	2,595	3,814	7,027	3,576
Total current liabilities	7,585	8,519	5,981	6,708	10,055	7,923
Lease liability, non-current	10,814	10,040	9,144	8,086	7,543	5,960
Total liabilities	18,399	18,559	80,125	14,794	17,598	13,883
Accumulated deficit	(172,540)	(236,200)	(294,705)	(336,915)	(390,500)	(463,281)
Total stockholders' equity	22,894	35,690	(2,248)	44,360	114,862	80,656
Total liabilities and equity	41,293	54,249	77,877	59,154	132,460	94,539
Common shares outstanding (cover page) thousands of shares	26,087	29,802	37,593	55,225	67,274	67,989

Fiscal years (PLSE's year ends in late December)

In thousands of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(49,851)	(63,660)	(58,505)	(42,210)	(53,585)	(72,781)
Stock-based compensation	10,075	14,601	5,191	7,181	13,586	21,457
Net cash from operating activities	(35,365)	(54,097)	(47,013)	(33,041)	(36,343)	(54,122)
Purchases of property and equipment	441	437	401	121	125	315
Net cash from investing activities	10,044	7,563	(401)	(121)	(125)	(335)
Proceeds from issuing common stock	29,434	56,697	14,864	0	—	—
Net cash from financing activities	30,885	62,685	79,939	16,388	110,141	17,154
Net change in cash	5,564	16,151	32,525	(16,774)	73,673	(37,303)

SIC 3841 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 3841 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
Runway shows only for companies burning cash with under $10B of public float.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.

Company	Cash ($K)	Revenue, quarter ($K)	Operating cash flow, quarter ($K)	Shares outstanding	Runway	Quarter
Pulse Biosciences	101,620	434	(18,709)*	71.3M	5.4 quarters	Q2 FY26 10-QJun 30, 2026
NutriBand	3,422	438	(585)*	12.2M	—	Q2 FY27 10-QJul 31, 2026
Butterfly Network	122,301	32,598	(2,266)*	not reported	10.3 quarters	Q3 FY26 10-QSep 30, 2026
Ceribell	41,989	29,341	(13,078)*	38.8M	7.8 quarters	Q3 FY26 10-QSep 30, 2026
Delcath Systems	47,521	29,133	5,712*	34.7M	—	Q2 FY26 10-QJun 30, 2026
Orthopediatrics	17,141	72,661	4,506*	26.1M	—	Q3 FY26 10-QSep 30, 2026
Axogen	328,888	75,834	16,536*	59.7M	—	Q3 FY26 10-QSep 30, 2026
Angiodynamics	33,973	80,915	(15,330)	42.1M	2.2 quarters	Q1 FY27 10-QAug 31, 2026
Orthofix Medical	103,810	210,933	(6,224)*	40.7M	16.7 quarters	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.