Pulse Biosciences, Inc. (PLSE) AI Stock Analysis

Pulse Biosciences, Inc. is a bioelectric medicine company focused on treating medical conditions through its proprietary CellFX System. The platform utilizes Nano-Pulse Stimulation (NPS) technology to deliver precise, tunable, nanosecond-duration pulses of electrical energy. This software-enabled process allows for the targeted clearance of cells without causing thermal damage to surrounding non-cellular tissue. Founded in 2014 as Electroblate, Inc. and rebranded in December 2015, the Hayward, California-based company employs 116 people and advances ongoing research and development to explore new clinical applications and therapeutic solutions in healthcare.

Pulse Biosciences generated $350,000 in revenue during FY2025, rebounding from -$9,000 in FY2023 and comparing to $700,000 in FY2022 and $1.4M in FY2021. From FY2017 to FY2025, revenue grew at a 5-year CAGR of 7.2%. However, profitability remains deeply negative due to commercial and developmental stages; FY2025 gross margin stood at -360.0% and operating margin was -21982.6%. The company posted a net income of -$72.8M and diluted EPS of -$1.00 in FY2025, while spending $44.7M on research and development. Over the trailing twelve months ending June 30, 2026, revenue totaled $1.2M with diluted EPS of -$1.18 and a return on equity of -78.5%.

As of June 30, 2026, Pulse Biosciences held $101.6M in cash and short-term investments against total debt of $6.8M, resulting in a net cash position of $94.8M. Total assets stood at $115.6M against shareholders' equity of $99.5M, supporting a current ratio of 9.63 and a debt-to-equity ratio of 0.07. In FY2025, the company had negative operating cash flow of -$54.1M and free cash flow of -$54.4M. Capital expenditures totaled $315,000, while share count increased 133.5% over five years, including $586,000 raised via share issuance in FY2025.

At a closing price of $44.43 on October 16, 2026, Pulse Biosciences had a market capitalization of $3.17B and an enterprise value of $3.61B. The stock trades at a price-to-book ratio of 37.2x. Due to negative earnings, standard earnings multiples are unavailable; by comparison, the median of its US-listed Healthcare peers carries a trailing P/E of 24.6x, a forward P/E of 17.3x, and a price-to-sales ratio of 4.1x. Over the past year, the stock gained 152.9%, outperforming the S&P 500 return of 16.8%. Over five years, the shares advanced 105.2% compared to 83.0% for the S&P 500.

Wall Street coverage includes 5 Strong Buy and 1 Buy ratings, with zero Hold or Sell recommendations. The mean analyst price target is $62.33, representing a 40.3% premium over the last close of $44.43. For the current fiscal year ending December 31, 2026, consensus estimates project revenue of $2.0M and EPS of -$1.11. For the following fiscal year, 4 analysts estimate revenue to reach $5.7M, an expected revenue growth of 178.0%, alongside EPS of -$1.17. Pulse Biosciences has exceeded EPS consensus estimates in 2 of the past 4 quarters, with the next earnings announcement scheduled for November 4, 2026.

This page is an AI-written research summary of Pulse Biosciences, Inc. (PLSE). The text was generated on October 30, 2026 from Quotelinks data as of October 16, 2026 (company profile, annual results, latest balance sheet, valuation, price performance and analyst estimates). An automatic check rejects any draft that contains a figure not found in that data. It is not investment advice; verify figures on the linked tabs before making decisions.

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