Pulse Biosciences (PLSE) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

Pulse Biosciences

NasdaqCM•Healthcare•Medical Instruments & Supplies

$53.87+3.26(0.06%)Market closed

Market Cap

$3.73B

P/S

3145.8x

P/B

37.5x

Pulse Biosciences, Inc. operates as a novel bioelectric medicine company. It offers nPulse System, a novel Nanosecond Pulsed-Field Ablation delivery platform to treat benign lesions of the skin; nPulse Vybrance Percutaneous Electrode system for soft tissue ablation in surgical setting; nPulse Cardiac Surgical Clamp designed for use in surgical treatment of atrial fibrillation (AF); nPulse Cardiac Catheter System designed to provide a circumferential, or circular, ablation in a single treatment cycle; and nPulse Console, a software-enabled console-based platform designed to accommodate the clinical workflow preferred by physicians. The company was formerly known as Electroblate, Inc. and changed its name to Pulse Biosciences, Inc. in December 2015. Pulse Biosciences, Inc. was incorporated in 2014 and is headquartered in Miami, Florida.

How this company scores

WeakMetricSide Score: 37/100

Strongest: Balance Sheet & Red Flags (15/25); weakest: Cash & Earnings Quality (6/25).

Profitability6/25

Growth10/25

Balance Sheet & Red Flags15/25

Cash & Earnings Quality6/25

Strengths

Interest easily coveredConsistent growthNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/S · 3145.8x5y range 23.1x – 13947.1x

Currently above its 11-quarter median.

P/B · 37.5x5y range 2.1x – 37.5x

Currently above its 18-quarter median.

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $3.73B

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $1.19M
Q. Revenue: $434,000
TTM EBITDA: $-81.84M
TTM Op. Income: $-83.04M
Q. Op. Income: $-25.27M
TTM Net Income: $-80.06M
Q. Net Income: $-24.66M
EPS: $-0.36
Shares Out.: $69.20M

$1.19M in TTM revenue grew from zero YoY, reaching $434,000 last quarter. TTM EBITDA of $-81.84M and TTM operating income of $-83.04M show growth is flowing through to the bottom line. However, net income is negative at $80.06M — growth is not yet reaching the bottom line. Across the last 8 quarters, TTM revenue has risen for 4 consecutive quarters — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 37.1%
EBITDA Margin: -5764.5%
Op. Margin: -5823.0%
Net Margin: -5681.3%

Op. margin of -5823.0% is up 2027494177.0% YoY — cost efficiency is improving. Net margin at -5681.3% and gross margin of 37.1% show how much of each revenue dollar survives to profit. Over the past year, operating margin is up 100% — a weakening trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 3145.8x
P/B Ratio: 37.5x

P/S of 3145.8x and P/B of 37.5x. P/S is high, meaning growth expectations are priced in.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $115.56M
Cash: $101.62M
Long-Term Debt: N/A
Book Value: $99.50M
D/E Ratio: N/A
Debt/EBITDA: N/A

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-18.71M
TTM Free Cash Flow: $-61.39M
FCF Margin: -5180.4%
FCF / Net Income: 0.8

TTM FCF of $-61.39M on $-18.71M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 7 consecutive quarters — a weakening trend.