Pulse Biosciences (NASDAQ:PLSE) Posts Earnings Results, Misses Expectations By $0.07 EPS

Pulse Biosciences (NASDAQ:PLSE) announced its earnings results on Thursday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.29) by ($0.07), FiscalAI reports. The business had revenue of $0.43 million for the quarter, compared to analyst estimates of $0.53 million. Pulse Biosciences had a negative return on equity of 100.22% and a negative net margin of 6,755.78%.

Here are the key takeaways from Pulse Biosciences’ conference call:

• nPulse AF catheter enrollment is ahead of schedule: The pivotal NANOPULSE-AF study surpassed the halfway point with more than 82 evaluable patients, and enrollment is now expected to finish in early October, despite expanding the target from 145 to 164 patients.
• Early clinical and workflow feedback remains highly favorable, with physicians reporting five to seven cases per day and ablation times as short as five to eight minutes. Management believes the resulting throughput and hospital economics could support significant adoption, though pivotal outcomes remain pending.
• European feasibility data for the cardiac catheter showed 96% freedom from AF at one year by 24-hour Holter monitoring, 90% freedom from recurrent AF, flutter, or tachycardia by Kaplan-Meier analysis, and a 1.7% serious adverse event rate across 177 patients. The company remains on track to submit for a CE mark in the second half of 2026 and potentially receive approval around mid-2027.
• Pulse strengthened its balance sheet through $57.5 million of net ATM proceeds, ending Q2 with $101.6 million in cash and extending its runway through key clinical and regulatory milestones. It also established a new $75 million ATM facility and received $1.8 million from warrant exercises.
• Spending and losses increased as the company accelerated clinical and product development, with Q2 GAAP operating expenses rising to $25.7 million and GAAP net loss reaching $24.7 million. Operating cash use rose to $18.7 million, while management expects quarterly non-GAAP expenses to remain near current levels.

Pulse Biosciences Trading Up 10.9%

Shares of Pulse Biosciences stock traded up $4.17 during trading on Friday, hitting $42.41. 734,091 shares of the stock were exchanged, compared to its average volume of 361,024. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of -35.94 and a beta of 1.61. The company has a fifty day moving average price of $29.01 and a 200-day moving average price of $23.64. Pulse Biosciences has a 1-year low of $12.56 and a 1-year high of $45.90.

Insider Activity

In other Pulse Biosciences news, CEO Paul A. Laviolette bought 15,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average cost of $19.69 per share, with a total value of $295,350.00. Following the acquisition, the chief executive officer owned 15,000 shares of the company’s stock, valued at $295,350. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert W. Duggan acquired 660,233 shares of Pulse Biosciences stock in a transaction on Monday, May 11th. The shares were bought at an average cost of $19.69 per share, with a total value of $12,999,987.77. Following the completion of the transaction, the director owned 48,211,433 shares of the company’s stock, valued at approximately $949,283,115.77. This trade represents a 1.39% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 74.00% of the company’s stock.

Institutional Investors Weigh In On Pulse Biosciences

A number of institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets lifted its holdings in Pulse Biosciences by 63.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 1,749 shares of the company’s stock worth $26,000 after purchasing an additional 680 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in Pulse Biosciences by 275.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,940 shares of the company’s stock valued at $44,000 after purchasing an additional 2,156 shares during the period. Russell Investments Group Ltd. boosted its holdings in Pulse Biosciences by 13.8% in the 4th quarter. Russell Investments Group Ltd. now owns 5,106 shares of the company’s stock valued at $70,000 after purchasing an additional 619 shares during the period. The Manufacturers Life Insurance Company acquired a new position in shares of Pulse Biosciences during the 2nd quarter worth approximately $158,000. Finally, Brevan Howard Capital Management LP bought a new position in shares of Pulse Biosciences during the second quarter worth approximately $215,000. Institutional investors own 76.95% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Oppenheimer restated an “outperform” rating on shares of Pulse Biosciences in a research note on Tuesday, July 28th. Canaccord Genuity Group assumed coverage on Pulse Biosciences in a research report on Thursday, June 4th. They set a “buy” rating and a $32.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Pulse Biosciences in a research note on Friday, July 17th. Finally, Wall Street Zen lowered Pulse Biosciences from a “hold” rating to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $32.33.

About Pulse Biosciences

Pulse Biosciences, Inc is a clinical-stage bioelectric medicine company that develops and commercializes medical devices based on its proprietary Tissue NanoPoration (TNP) platform. The company’s core technology, NanoPulse Stimulation (NPS), delivers ultrashort, high-voltage electric pulses to targeted tissue, triggering cellular responses without the thermal damage associated with traditional energy-based devices. Pulse Biosciences focuses on applications in dermatology and aesthetic medicine, where controlled ablation of unwanted lesions is critical.

The company’s flagship product, the CellFX® System, is designed to treat a range of benign and malignant skin lesions, including seborrheic keratosis, non-melanoma skin cancers, and various epidermal and dermal lesions.