• Total GAAP Costs and Expenses: Increased by $7.7 million to $20.3 million in Q4 2024 compared to $12.5 million in the prior year period.

• Non-Cash Stock-Based Compensation: $6.8 million in Q4 2024 compared to $3.3 million in the prior year period.

• Total Non-GAAP Costs and Expenses: Increased by $2.4 million to $11.3 million in Q4 2024 compared to $8.9 million in the prior year period.

• GAAP Net Loss: $19.4 million in Q4 2024 compared to $11.9 million in the prior year period.

• Non-GAAP Net Loss: $10.4 million in Q4 2024 compared to $8.3 million in the prior year period.

• Cash and Cash Equivalents: $118 million as of December 31, 2024, compared to $44.4 million as of December 31, 2023.

• Cash Used in Q4 2024: $9.3 million, excluding net proceeds from financing, compared to $6.9 million in the prior year period.

• Net Proceeds from Warrant Exercises: $47.9 million raised in Q4 2024.

• Warning! GuruFocus has detected 1 Warning Sign with PLSE.

Release Date: March 27, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Pulse Biosciences Inc (NASDAQ:PLSE) has made significant progress in early commercialization steps for their percutaneous electrode for soft tissue ablation in benign thyroid diseases.

• The company has received seven FDA clearances and treated 6,000 patients, showcasing a mature platform ready for multiple clinical and regulatory initiatives.

• Pulse Biosciences Inc (NASDAQ:PLSE) strengthened its balance sheet by raising $47.9 million in net proceeds through the exercise of warrants.

• The company has a robust portfolio of over 180 issued patents, protecting its unique nanosecond PFA technology.

• Pulse Biosciences Inc (NASDAQ:PLSE) has appointed new leadership, including a new CFO and Chief Medical Officer, to drive its strategic initiatives forward.

Negative Points

• The company reported a GAAP net loss of $19.4 million in the fourth quarter of 2024, compared to $11.9 million in the prior year period.

• Total GAAP costs and expenses increased significantly by $7.7 million to $20.3 million, driven by higher non-cash stock-based compensation and other administrative expenses.

• Non-GAAP net loss also increased to $10.4 million in the fourth quarter of 2024, compared to $8.3 million in the prior year period.

• Cash used in the fourth quarter of 2024, excluding net proceeds from financing, totaled $9.3 million, indicating higher operational cash burn.

• The company faces the challenge of scaling its commercial operations and achieving reimbursement for its novel therapies in competitive markets.