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Dec 31, 2024
Pulse Biosciences Q4 2024 Earnings Report
Pulse Biosciences reported an increased net loss in Q4 2024 driven by higher operating expenses, primarily from stock-based compensation, despite no revenue reported.
Key Takeaways
In Q4 2024, Pulse Biosciences posted a GAAP net loss of $19.4 million and a non-GAAP net loss of $10.4 million. The company had no revenue, and costs rose due to expansion activities and stock-based compensation. The company ended the quarter with strong liquidity following a successful warrant exercise.
No revenue was reported for Q4 2024.
GAAP net loss widened to $19.4 million from $11.9 million YoY.
Stock-based compensation expense reached $6.8 million in the quarter.
Cash and cash equivalents increased to $118 million due to warrant exercises.
Forward Guidance
Pulse Biosciences plans to initiate multiple IDE clinical trials in 2025 and continue commercial expansion for its soft tissue ablation system in the thyroid market.
Positive Outlook
- Planned IDE submission for cardiac surgery system in mid-2025.
- Continued pilot program with U.S. centers expected to enter commercial phase.
- Strengthened leadership team to support clinical and commercial growth.
- Successful warrant exercises added $47.9M in liquidity in Q4.
- Published positive preclinical and early feasibility clinical results.
Challenges Ahead
- No revenue generated during the quarter.
- Net loss increased significantly year-over-year.
- High stock-based compensation and G&A expenses raised operating costs.
- Cash burn was $9.3M in Q4 despite new funding.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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