olivLaw · US equity research
Pulse Biosciences, Inc. PLSE
Surgical & Medical Instruments & Apparatus · SIC 3841 · Vertical: Surgical & Medical Instruments & Apparatus (SIC 3841)
Pulse Biosciences develops a nanosecond electrical pulse ablation technology, focused mainly on atrial fibrillation, a market estimated above 3.0 billion USD in electrophysiology. The company is still in a controlled commercial launch with very small revenue, and in 2026 it concentrates resources on its cardiac catheter, which is in a pivotal US study.
At the close of 04 Nov 2026, Pulse Biosciences, Inc. (PLSE) stock was 57.06 USD (+9.31% on the day), with market capitalisation 4.1 bn USD, beta 1.40, 52-week range 12.66–57.06 USD. Latest reported quarter (Q2 2026): revenue of 434.0 k USD, net income of -24.7 m USD, diluted EPS -0.36 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 62.6
- strong (55–70)
- Bollinger (20, 2)
- 44.87 – 57.73
- in the upper half of the band · %B 0.95 · band width 25.1%
- SMA 50 / 200
- 51.35 / 31.95
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 1.24 / 0.81
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +13.0% | −2.0% | +15.0 pp | — |
| 3 months | +50.6% | −2.2% | +52.7 pp | — |
| 6 months | +197.0% | +4.3% | +192.8 pp | — |
| Year to date | +315.6% | +10.6% | +305.0 pp | — |
| 1 year | +255.3% | +10.5% | +244.8 pp | −5.6% |
| 3 years | +1,059.8% | +73.7% | +986.1 pp | +6.7% |
| 5 years | +143.8% | +61.7% | +82.1 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 86.0 k | 264.0 k | 401.0 k | 434.0 k |
| Cost of revenue | 0 | 0 | 0 | 0 | 279.0 k | 260.0 k | 370.0 k | 273.0 k |
| Research & development | 7.7 m | 10.7 m | 10.3 m | 12.1 m | 11.4 m | 10.9 m | 12.6 m | 17.0 m |
| SG&A | 6.0 m | 9.6 m | 7.7 m | 8.2 m | 8.8 m | 7.3 m | 6.6 m | 8.5 m |
| Operating income | -13.7 m | -20.3 m | -18.0 m | -20.3 m | -20.4 m | -18.3 m | -19.2 m | -25.3 m |
| Pre-tax income | -12.7 m | 87.8 m | -16.8 m | -19.2 m | — | — | — | — |
| Income tax | 0 | 0 | 0 | 0 | — | — | — | — |
| Net income | -12.7 m | -19.4 m | -16.8 m | -19.2 m | -19.4 m | -17.4 m | -18.6 m | -24.7 m |
| Diluted EPS | -0.21 | — | -0.25 | -0.28 | -0.29 | — | -0.27 | -0.36 |
| Operating cash flow | -9.0 m ≈ | -9.1 m | -13.5 m | -12.8 m ≈ | -13.0 m ≈ | -14.8 m | -14.6 m | -18.7 m ≈ |
| Capex | 38.0 k ≈ | 53.0 k | 45.0 k | 103.0 k ≈ | 62.0 k ≈ | 105.0 k | 33.0 k | 90.0 k ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | 0 | 1.4 m | 700.0 k | 0 | 0 | 350.0 k |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | −50.6% | −100.0% | unavailable | unavailable |
| Net income | -37.5 m | -47.0 m | -49.9 m | -63.7 m | -58.5 m | -42.2 m | -53.6 m | -72.8 m |
| Net income YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | unavailable | -2.14 | -2.28 | -1.72 | -0.85 | -0.92 | -1.08 |
| Diluted EPS YoY | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable | unavailable |
| net % | unavailable | unavailable | unavailable | -4,489.4% | -8,357.9% | unavailable | unavailable | -20,794.6% |
| Free cash flow | -24.2 m | -34.8 m | -35.8 m | -54.5 m | -47.4 m | -33.2 m | -36.5 m | -54.4 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 80.7 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 80.7 m USD
- Total assets
- 94.5 m USD
- Debt / equity
- unavailable
- Current ratio
- 10.53x
- ROE
- -74.4%
- ROA
- -64.1%
- FCF margin
- -15,553.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 1.4 m | 700.0 k | 0 | 0 | 350.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Cost of revenue | 0 | 2.0 m | 11.9 m | 0 | 0 | 539.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Gross profit | 0 ≈ | -550.0 k ≈ | -11.2 m ≈ | 0 ≈ | 0 ≈ | -189.0 k ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Research & development | 26.4 m | 28.6 m | 20.8 m | 27.8 m | 32.3 m | 44.7 m | SEC (XBRL)· 19 Feb 2026verified |
| SG&A | — | — | — | — | 23.9 m | 32.0 m | SEC (XBRL)· 19 Feb 2026verified |
| Operating income | -50.0 m | -63.0 m | -58.1 m | -43.6 m | -56.3 m | -76.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Pre-tax income | -49.9 m | -63.7 m | -58.5 m | -42.2 m | 53.6 m | 72.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | SEC (XBRL)· 19 Feb 2026verified |
| Net income | -49.9 m | -63.7 m | -58.5 m | -42.2 m | -53.6 m | -72.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Diluted EPS | -2.14 | -2.28 | -1.72 | -0.85 | -0.92 | -1.08 | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Revenue − Cost of revenue.
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 12.5 m | 44.4 m | 61.1 m | 44.4 m | 118.0 m | 80.7 m | SEC (XBRL)· 19 Feb 2026verified |
| Receivables | — | 61.0 k | 0 | — | 0 | 274.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Inventories | — | 5.8 m | 0 | — | 0 | 136.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Current assets | 22.3 m | 45.3 m | 62.1 m | 45.3 m | 119.4 m | 83.4 m | SEC (XBRL)· 19 Feb 2026verified |
| Property, plant & equipment, net | 2.5 m | 1.5 m | 2.0 m | 1.5 m | 1.2 m | 1.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Goodwill | 2.8 m | 2.8 m | 2.8 m | 2.8 m | 2.8 m | 2.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Intangibles (excl. goodwill) | 3.9 m | 1.9 m | 2.6 m | 1.9 m | 1.2 m | 575.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Total assets | 41.3 m | 59.2 m | 77.9 m | 59.2 m | 132.5 m | 94.5 m | SEC (XBRL)· 19 Feb 2026verified |
| Accounts payable | 1.7 m | 1.8 m | 1.6 m | 1.8 m | 1.7 m | 2.8 m | SEC (XBRL)· 19 Feb 2026verified |
| Current liabilities | 7.6 m | 6.7 m | 6.0 m | 6.7 m | 10.1 m | 7.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Total liabilities | 18.4 m | 14.8 m | 80.1 m | 14.8 m | 17.6 m | 13.9 m | SEC (XBRL)· 19 Feb 2026verified |
| Equity | 22.9 m † | 44.4 m † | -2.2 m † | 44.4 m † | 114.9 m † | 80.7 m † | SEC (XBRL)· 19 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -35.4 m | -54.1 m | -47.0 m | -33.0 m | -36.3 m | -54.1 m | SEC (XBRL)· 19 Feb 2026verified |
| Capex | 441.0 k | 437.0 k | 401.0 k | 121.0 k | 125.0 k | 315.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Free cash flow | -35.8 m ≈ | -54.5 m ≈ | -47.4 m ≈ | -33.2 m ≈ | -36.5 m ≈ | -54.4 m ≈ | SEC (XBRL)· 19 Feb 2026derived |
| Investing cash flow | 10.0 m | 7.6 m | -401.0 k | -121.0 k | -125.0 k | -335.0 k | SEC (XBRL)· 19 Feb 2026verified |
| Financing cash flow | 30.9 m | 62.7 m | 79.9 m | 16.4 m | 110.1 m | 17.2 m | SEC (XBRL)· 19 Feb 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 27.1% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 4.1 bn USD
Key indicators
Coverage and freshness
Score by group
27% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | -6,755.8% | 0 (vs peers) | 23% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | -20.6% | 0 (on a fixed band) | 31% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 9.6x | 100 (on a fixed band) | 15% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -1.5% | 0 (on a fixed band) | 31% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial100/100 · 1/3 factors with a value
- Growth· partial0/100 · 1/2 factors with a value
- Quality· partial0/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Pulse Biosciences, Inc. (PLSE). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: revenue 350.0 k USD in 2025; net margin -6,755.8%; ROE -78.5%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 27.1% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 9.6x
What contradicts it
- Net margin: -6,755.8%
- Revenue CAGR 3Y: -20.6%
- FCF yield: -1.5%
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Surgical & Medical Instruments & Apparatus (SIC 3841) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| SYKStryker Corp | 118.2 bn | 33.1 | 16.0% | 13.8% | +11.2% | −16% / +5% |
| MMM3m Company | 91.5 bn | 26.4 | 80.8% | 14.0% | +1.5% | +3% / +114% |
| BSXBoston Scientific Corporation | 63.1 bn | 18.4 | 14.3% | 16.6% | +19.9% | −57% / −22% |
| BDXBecton, Dickinson And Company | 54.0 bn | 59.8 | 3.8% | 4.0% | +8.2% | +30% / +7% |
| RMDResMed Inc. | 31.9 bn | 20.7 | 26.4% | 27.8% | +9.9% | −11% / +44% |
| DXCMDexcom, Inc. | 30.9 bn | 32.7 | 37.7% | 19.4% | +15.6% | +31% / −28% |
| WSTWest Pharmaceutical Services, Inc. | 28.4 bn | 45.7 | 21.2% | 18.8% | +6.3% | +47% / +16% |
| SOLVSolventum Corporation | 15.2 bn | 10.9 | 34.0% | 17.3% | +0.9% | +5% / unavailable |
| PENPenumbra, Inc | 12.7 bn | 81.2 | 10.7% | 10.1% | +17.5% | +10% / +45% |
| GMEDGlobus Medical, Inc. | 11.7 bn | 22.3 | 11.8% | 17.0% | +16.7% | −4% / +94% |
| TFXTeleflex Incorporated | 6.4 bn | — | -28.9% | -45.8% | +17.2% | +31% / −34% |
| HAEHaemonetics Corporation | 5.8 bn | 62.3 | 11.2% | 7.1% | −2.0% | +57% / +58% |
| MMSIMerit Medical Systems Inc | 5.4 bn | 34.0 | 9.8% | 9.9% | +11.8% | +5% / +27% |
| HTFLHeartflow, Inc. | 4.9 bn | — | — | -55.8% | +39.9% | +75% / unavailable |
| ICUIIcu Medical Inc | 4.3 bn | 144.2 | 1.4% | 1.4% | −6.3% | +16% / +97% |
| PLSEPulse Biosciences, Inc. | 4.1 bn | — | -78.5% | -6,755.8% | unavailable | +255% / +1,060% |
| LMATLemaitre Vascular, Inc. | 2.0 bn | 30.9 | 16.8% | 25.0% | +13.5% | +6% / +67% |
| TNDMTandem Diabetes Care, Inc. | 1.3 bn | — | -48.0% | -6.1% | +7.9% | −9% / −6% |
| IARTIntegra Lifesciences Holdings Corp | 1.2 bn | 88.3 | 1.2% | 0.8% | +1.5% | +13% / −62% |
| BBNXBeta Bionics, Inc. | 921.5 m | — | -23.9% | -65.3% | +53.9% | −46% / unavailable |
| SSIISs Innovations International, Inc. | 454.9 m | — | -26.1% | -23.7% | +105.7% | −66% / unavailable |
| CARLCarlsmed, Inc. | 439.3 m | — | -6,196.9% | -57.4% | +85.9% | −1% / unavailable |
| BWAYBrainsway Ltd. | 439.0 m | 224.2 | 5.6% | 7.1% | +29.0% | +28% / +258% |
| EMBCEmbecta Corp. | 369.4 m | 4.4 | — | 8.6% | −3.8% | −49% / −64% |
| CLPTClearPoint Neuro, Inc. | 325.7 m | — | -167.5% | -79.4% | +17.8% | −30% / +76% |
1- and 3-year price returns: for PLSE from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Pulse Biosciences develops a nanosecond electrical pulse ablation technology, focused mainly on atrial fibrillation, a market estimated above 3.0 billion USD in electrophysiology. The company is still in a controlled commercial launch with very small revenue, and in 2026 it concentrates resources on its cardiac catheter, which is in a pivotal US study.
SWOT
Strengths
- The patented technology is protected by issued and pending patents, most granted patents expiring between 2035 and 2042 1.
- The cardiac device holds Breakthrough Device Designation and is enrolled in the FDA TAP program, which could speed review 1.
- Catheter clinical data show high procedural success and short procedure times, supporting the product's positioning 2.
Weaknesses
Opportunities
Risks
- Very small revenuehigh
The company has not generated significant revenue and cannot assure it will become profitable 1.
- Need for additional fundinghigh
If funds cannot be raised on acceptable terms, development plans could be scaled back or halted 1.
- Dependence on one platformmedium
All activity depends on NPS technology, so any technical or regulatory problem would have major effects 1.
- Physician adoptionmedium
Physicians may adopt the product slowly, especially without enough reimbursement evidence and economic benefit data 1.
- Regulatory approvalsmedium
Cardiac devices require FDA PMA approval, and delays or extra requirements could postpone commercialization 1.
Investment thesis
What would need to be true (bull case)
- If pivotal studies finish on time and clinical results hold, the company could access a cardiac market far larger than its current revenue 13.
- Catheter data show high procedural success and fast procedures, which could speed adoption by electrophysiologists 2.
- Capital raised in 2026 could provide extra time to reach important regulatory milestones 3.
What would break the thesis
- Revenue remains nearly absent while losses grow with clinical program spending, which may extend the period without profit 3.
- Equity-based financing can dilute existing shareholders, and if markets weaken capital could become more expensive 13.
- Competition from PFA and thermal methods could limit market share even if the company's devices are approved 1.
What to watch
- Completion of NANOPULSE-AF enrollment and its resultsQ4 2026
- Filing of the CE Mark application for cardiac systemssecond half of 2026
- Evolution of Vybrance system revenueQ4 2026
- Additional financing through the ATM program and new facilitynext quarterly report
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Pulse Biosciences is an ablation company using its patented Nano-pulse Stimulation (NPS) technology, also called nsPFA when used to ablate cellular tissue 1. Its nPulse System delivers electrical pulses each less than a millionth of a second long that clear cells nonthermally 1. To date revenue has come entirely from the nPulse System family, and the company has not yet generated significant revenue 1.
Since 2022 the company has focused on treating atrial fibrillation, after stopping its dermatology applications 1. In March 2026 a strategic realignment prioritized the endocardial catheter and other cardiac devices, reducing investment in cardiac surgery and in sales of the Vybrance system 2.
The company has financed itself mainly through equity sales and loans, and operating losses are expected to continue for at least several years 1. In the second quarter of 2026 it raised net proceeds through its ATM program, so future financing remains a central factor 3.
Segments
nPulse Cardiac Catheter System
The catheter provides circumferential ablation in a single treatment cycle, which could shorten procedure time compared with thermal methods 1. The pivotal NANOPULSE-AF study, with 12 active sites, has passed the halfway point of enrollment, with completion targeted for early Q4 2026 3.
Market context
Atrial fibrillation is a highly prevalent arrhythmia affecting about 43 million people worldwide 1. In the United States about 1.9 million patients are diagnosed annually, and the addressable electrophysiology market is estimated above 3.0 billion USD with long-term double-digit growth 1.
Standard thermal treatments such as radiofrequency and cryoablation leave room for a nonthermal alternative if clinical data confirm safety and efficacy 1. The market, however, depends on regulatory approvals and reimbursement that remain undefined for the company 2.
Trends
- Ageing populationtailwind
A growing number of older people could expand long-term demand for atrial fibrillation treatment 1.
- Minimally invasive procedurestailwind
Physician interest in fast and safe procedures, such as PFA, could favor nsPFA adoption if clinical evidence is convincing 1.
- Financing costsheadwind
Armed conflicts and trade tariffs may make it harder to raise capital, which could limit development pace 1.
- Competition in PFAmixed
Existing PFA products with longer pulses could set standards before nsPFA is approved, influencing adoption 1.
Competitive position
The company presents thermal methods such as radiofrequency and cryoablation as the current standard in cardiac ablation 1. Existing PFA products with longer pulses are also described as direct alternatives for treating atrial fibrillation 1.
The company notes that new competing technologies could emerge and that alternative technologies may advance faster 1. Its position therefore depends on clinical evidence and on obtaining approvals before rivals 2.
- Existing PFA products in electrophysiology
Devices using longer pulses in the microsecond range, seen as the direct alternative to nsPFA in atrial fibrillation treatment 1.
- Thermal ablation methods (radiofrequency and cryoablation)
The current standard in the Cox-Maze procedure, against which the company's devices are compared 1.
- Other ablation technologies that could emerge
The company warns that new technologies could reduce adoption of its products 1.
- Other electrophysiology device suppliers
Competitors that could occupy the same market quickly if they obtain approvals ahead of the company 1.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report14 Oct 2026Other events · Financial statements and exhibits
- Current report07 Oct 2026Other events · Financial statements and exhibits
- Current report15 Sept 2026Material agreement · Termination of a material agreement · Financial statements and exhibits
- Current report15 Sept 2026Other events · Financial statements and exhibits
- Current report06 Aug 2026Material agreement · Financial statements and exhibits
- Quarterly report06 Aug 2026
- Current report06 Aug 2026Results of operations · Financial statements and exhibits
- Current report29 Jul 2026Other events · Financial statements and exhibits
- Current report12 Jun 2026Shareholder vote
- Current report10 Jun 2026Other events · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Pulse Biosciences, Inc. · 19 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Pulse Biosciences, Inc. · 06 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Pulse Biosciences, Inc. · 06 Aug 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.