Pulse Biosciences Inc logo

Pulse Biosciences Inc(PLSE)

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ADVISORIES YOU CAN VERIFY
QUALITY SIGNAL RECENCY
1-STAR RATING
Consider higher Upturn Star rating
BUY for 90 days
PROFIT SINCE LAST BUY
+106.93% ▲
LAST CLOSE
$51.63
09/25/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Advisory Performance History (Simulated)Advisory Performance History info

Upturn Advisory & Investor View for PLSE

09/25/2026: PLSE (1-star) has a low Upturn Star Rating. Not recommended to BUY.

Pulse Biosciences is a clinical-stage medical device company specializing in Nanosecond Pulsed Field Ablation (nsPFA) technology. Its primary strength lies in this proprietary platform, which has shown promise in treating both dermatological conditions and, more recently, cardiac arrhythmias. The primary growth story centers on successfully penetrating the vast cardiac surgery market, which offers significant long-term potential. However, the company faces substantial risks, including fierce competition from well-established industry giants, the need for continued regulatory success, and high execution hurdles. This stock is best suited for growth-oriented investors with high risk tolerance who are closely monitoring clinical trial milestones and commercial adoption progress.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers high-risk, high-reward exposure to an emerging medical technology platform.
Momentum investorStrong fit while signal remains positiveThe stock can exhibit high momentum during periods of positive clinical data or regulatory progress.
Value investorWeak fitThe company is not currently profitable, making traditional valuation metrics inapplicable.
Dividend investorWeak fitThere is no dividend history or expectation of payouts in the near future.
Low-risk investorWeak fitSignificant business, regulatory, and financial risks make this unsuitable for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighSpeculative nature and low market capitalization lead to frequent and sharp price swings.
Valuation riskHighDifficult to value without sustained revenue or profitability.
Competition risk (Medical Technology)HighDirectly competes against well-entrenched industry leaders with greater resources.
Business qualityMediumThe technology is promising, but the business is still in a nascent development stage.
Dividend incomeLow / noneNo income potential exists for investors.
Execution riskHighSuccess depends heavily on complex regulatory approvals and clinical trial results.

Price Behavior

Hockey-Stick Growth
PRICE PATH

Hockey-Stick Growth

The stock demonstrates a Hockey-Stick Growth price path pattern.

Extreme Price Shocks
PRICE STABILITY

Extreme Price Shocks

The stock has experienced exceptionally large and disruptive price movements during the period.

Analysis of Past Performance

Type Stock
Historic Profit -3.83%
Avg. Invested days 25
Today’s Advisory Consider higher Upturn Star rating
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 09/25/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
PLSE receives a 2-star rating, supported by available scored pillars. The rating is constrained by weak unit economics, soft company fundamentals, and soft quantitative characteristics.

Company Fundamentals

★★★★★
PLSE has soft overall fundamentals (2 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, growth and ownership metrics are mixed: negative earnings growth (-35.8%), soft cash generation (FCF margin -15553.4%), slightly negative revenue growth (+0.0%).

Financial Health Rating

★★★★★
PLSE's financial health is supported by moderate liquidity, including working-capital and asset support (WC/assets 78.6%). Operating efficiency is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
PLSE's growth profile is soft, with the least-weak measure being revenue growth at +0.0% FY2025 versus FY2024. By comparison, while earnings growth (-35.8%, negative) and free-cash-flow growth (-49.3%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 15.4% and approximately 29.0% of outstanding shares are publicly tradable, supporting liquidity and institutional participation. Insider ownership of 71.05% supports management-shareholder alignment.

Top 5 Institutional Investors

BlackRock Inc 1.88%
Bank of America Corp 1.21%
Vanguard Capital Management, LLC 1.14%
Portolan Capital Management, LLC 1.03%
Citadel Advisors Llc 0.88%

Unit Economics (Per $1K Revenue)

★★★★★
PLSE generates approximately $-3,600 of gross profit, $-219,826 of operating income, and $-155,534 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Strong cash conversion and healthy margins support the rating, although capital efficiency remains below the highest tier.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
PLSE has a Short Squeeze Candidate profile. Valuation that is moderately attractive rather than deeply discounted is the primary drawback, while elevated volatility.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze Risk

Key Highlights

Company Size Mid-Cap Stock
Market Capitalization 3.68B USD
Price to earnings Ratio -
1Y Target Price 54
Price to earnings Ratio -
1Y Target Price 54
Volume (30-day avg) 603.5K shares
Beta 1.62
52 Weeks Range 12.56 - 58.90
Updated Date 09/27/2026
52 Weeks Range 12.56 - 58.90
Updated Date 09/27/2026
Dividends yield (FY) -
Basic EPS (TTM) -1.17

How Company Makes Money

Business areaWhat it includesRetail investor read
CellFX System SalesSale of the CellFX console and single-use delivery devices for dermatological procedures.Revenue is earned from selling medical equipment and the associated consumable tips required for each procedure.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

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Valuation

Trailing PE -
Forward PE -
Enterprise Value 3.61B
Price to Sales(TTM) 3107.5
Enterprise Value 3.61B
Price to Sales(TTM) 3107.5
Enterprise Value to Revenue 3043.71
Enterprise Value to EBITDA -1.81
Shares Outstanding 71.32M
Shares Floating 20.65M
Shares Outstanding 71.32M
Shares Floating 20.65M
Percent Insiders 71.05
Percent Institutions 15.43

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Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

About Pulse Biosciences Inc

Exchange NASDAQ
Headquarters Miami, FL, United States
IPO Launch date 2016-05-18
President, CEO & Co-Chairman of the Board Mr. Paul Arthur LaViolette M.B.A.
Sector Healthcare
Industry Medical Instruments & Supplies
Full time employees 116
Full time employees 116

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.