(PLSE) Pulse Biosciences - Overview
Stock: Nanosecond Pulsed-Field, Cardiac Clamp, Percutaneous Electrode, Skin Lesion
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 60.5% |
| Relative Tail Risk | -14.7% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -0.48 |
| Alpha | -47.51 |
| Character TTM | |
|---|---|
| Beta | 0.888 |
| Beta Downside | 0.505 |
| Drawdowns 3y | |
|---|---|
| Max DD | 55.90% |
| CAGR/Max DD | 1.10 |
Description: PLSE Pulse Biosciences January 18, 2026
Pulse Biosciences (NASDAQ: PLSE) is a Miami-based bioelectric medicine company that commercializes the CellFX platform, which delivers nanosecond pulsed-field ablation (nsPFA) for a range of clinical indications. Its product suite includes the CellFX System for benign skin lesions, a percutaneous electrode for soft-tissue ablation, a cardiac clamp for intra-operative atrial fibrillation (AF) treatment, a 360° cardiac catheter for circumferential ablation, and the CellFX Console that integrates software-driven workflow customization.
Key recent metrics (as of the latest 10-Q filing, Q2 2024) show a cash balance of roughly $45 million and a monthly cash burn of $3–4 million, giving the company an estimated runway of 12–15 months without additional financing. The global electrophysiology market, a primary growth driver for the cardiac devices, is projected to reach $13 billion by 2028, expanding at a CAGR of ~9 % (source: Grand View Research). Pulse’s AF-focused devices are positioned to benefit from the rising prevalence of AF-estimated at 3–4 % of adults in the U.S.-and from reimbursement trends that increasingly favor energy-based ablation technologies over traditional radiofrequency methods.
Regulatory progress includes FDA 510(k) clearance for the CellFX nsPFA Cardiac Clamp (issued March 2023) and an ongoing de-novo request for the 360° catheter, which, if granted, could unlock a larger procedural volume in the electrophysiology suite. The company’s historical revenue has been modest (≈ $1.2 million in FY 2023) but is expected to accelerate as commercial launch milestones are met.
For deeper quantitative insight, you may want to explore ValueRay’s analyst notes on PLSE.
Piotroski VR‑10 (Strict, 0-10) 1.0
| Net Income: -74.7m TTM > 0 and > 6% of Revenue |
| FCF/TA: -0.45 > 0.02 and ΔFCF/TA -8.21 > 1.0 |
| NWC/Revenue: 3387 % < 20% (prev 4234 %; Δ -846.9% < -1%) |
| CFO/TA -0.45 > 3% & CFO -48.5m > Net Income -74.7m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 10.02 > 1.5 & < 3 |
| Outstanding Shares: last quarter (67.4m) vs 12m ago 10.35% < -2% |
| Gross Margin: 35.67% > 18% (prev 0.35%; Δ 3532 % > 0.5%) |
| Asset Turnover: 2.56% > 50% (prev 1.87%; Δ 0.69% > 0%) |
| Interest Coverage Ratio: -36.17 > 6 (EBITDA TTM -75.8m / Interest Expense TTM -2.12m) |
Altman Z'' -15.00
| A: 0.80 (Total Current Assets 97.2m - Total Current Liabilities 9.70m) / Total Assets 108.8m |
| B: -4.10 (Retained Earnings -445.8m / Total Assets 108.8m) |
| C: -0.76 (EBIT TTM -76.9m / Avg Total Assets 100.9m) |
| D: -27.74 (Book Value of Equity -445.8m / Total Liabilities 16.1m) |
| Altman-Z'' Score: -42.33 = D |
What is the price of PLSE shares?
Over the past week, the price has changed by -1.96%, over one month by -3.84%, over three months by -16.38% and over the past year by -31.14%.
Is PLSE a buy, sell or hold?
What are the forecasts/targets for the PLSE price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 22 | 56.7% |
| Analysts Target Price | 22 | 56.7% |
| ValueRay Target Price | 13.9 | -1.2% |
PLSE Fundamental Data Overview February 03, 2026
P/B = 10.111
Revenue TTM = 2.58m USD
EBIT TTM = -76.9m USD
EBITDA TTM = -75.8m USD
Long Term Debt = 7.89m USD (from capitalLeaseObligations, last quarter)
Short Term Debt = 1.52m USD (from shortTermDebt, last quarter)
Debt = 7.89m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = -87.3m USD (from netDebt column, last quarter)
Enterprise Value = 870.9m USD (958.2m + Debt 7.89m - CCE 95.2m)
Interest Coverage Ratio = -36.17 (Ebit TTM -76.9m / Interest Expense TTM -2.12m)
EV/FCF = -17.86x (Enterprise Value 870.9m / FCF TTM -48.8m)
FCF Yield = -5.60% (FCF TTM -48.8m / Enterprise Value 870.9m)
FCF Margin = -1889 % (FCF TTM -48.8m / Revenue TTM 2.58m)
Net Margin = -2894 % (Net Income TTM -74.7m / Revenue TTM 2.58m)
Gross Margin = 35.67% ((Revenue TTM 2.58m - Cost of Revenue TTM 1.66m) / Revenue TTM)
Gross Margin QoQ = none% (prev none%)
Tobins Q-Ratio = 8.01 (Enterprise Value 870.9m / Total Assets 108.8m)
Interest Expense / Debt = 6.06% (Interest Expense 478.0k / Debt 7.89m)
Taxrate = 21.0% (US default 21%)
NOPAT = -60.7m (EBIT -76.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 10.02 (Total Current Assets 97.2m / Total Current Liabilities 9.70m)
Debt / Equity = 0.09 (Debt 7.89m / totalStockholderEquity, last quarter 92.7m)
Debt / EBITDA = 1.15 (negative EBITDA) (Net Debt -87.3m / EBITDA -75.8m)
Debt / FCF = 1.79 (negative FCF - burning cash) (Net Debt -87.3m / FCF TTM -48.8m)
Total Stockholder Equity = 107.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -74.06% (Net Income -74.7m / Total Assets 108.8m)
RoE = -69.44% (Net Income TTM -74.7m / Total Stockholder Equity 107.6m)
RoCE = -66.54% (EBIT -76.9m / Capital Employed (Equity 107.6m + L.T.Debt 7.89m))
RoIC = -56.42% (negative operating profit) (NOPAT -60.7m / Invested Capital 107.6m)
WACC = 9.15% (E(958.2m)/V(966.1m) * Re(9.19%) + D(7.89m)/V(966.1m) * Rd(6.06%) * (1-Tc(0.21)))
Discount Rate = 9.19% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 10.63%
Fair Price DCF = unknown (Cash Flow -48.8m)
EPS Correlation: 63.54 | EPS CAGR: 41.64% | SUE: 0.50 | # QB: 0
Revenue Correlation: 3.82 | Revenue CAGR: -45.61% | SUE: -4.0 | # QB: 0
EPS next Quarter (2026-03-31): EPS=-0.37 | Chg30d=-0.020 | Revisions Net=-1 | Analysts=1
EPS next Year (2026-12-31): EPS=-1.66 | Chg30d=-0.220 | Revisions Net=-1 | Growth EPS=-45.6% | Growth Revenue=+1016.1%