2024 Q2 Form 10-Q Financial Statement

#000143774924015092 Filed on May 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $4.496M $3.874M
YoY Change 27.37% 3.78%
% of Gross Profit
Research & Development $7.230M $6.741M
YoY Change 7.96% 15.65%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $7.230M $6.741M
YoY Change 7.96% 15.65%
Operating Profit -$11.73M -$10.62M
YoY Change 14.66% 11.01%
Interest Expense $343.0K $478.0K
YoY Change 8.2% -300.0%
% of Operating Profit
Other Income/Expense, Net $343.0K $478.0K
YoY Change 8.2% -300.0%
Pretax Income -$11.38M -$10.14M
YoY Change 14.86% 3.43%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$11.38M -$10.10M
YoY Change 14.86% 3.05%
Net Earnings / Revenue
Basic Earnings Per Share -$0.20 -$0.18
Diluted Earnings Per Share -$0.20 -$0.18
COMMON SHARES
Basic Shares Outstanding 55.23M 55.23M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.20M $34.89M
YoY Change -55.41% -35.52%
Cash & Equivalents $26.20M $34.90M
Short-Term Investments
Other Short-Term Assets $1.043M $964.0K
YoY Change -13.87% 13.55%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $27.24M $35.85M
YoY Change -54.57% -34.76%
LONG-TERM ASSETS
Property, Plant & Equipment $1.313M $1.400M
YoY Change -25.19% -24.93%
Goodwill $2.791M $2.791M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $714.0K $365.0K
YoY Change 95.62% 0.0%
Total Long-Term Assets $13.19M $13.32M
YoY Change -10.88% -12.83%
TOTAL ASSETS
Total Short-Term Assets $27.24M $35.85M
Total Long-Term Assets $13.19M $13.32M
Total Assets $40.43M $49.16M
YoY Change -45.92% -29.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.637M $1.712M
YoY Change -8.75% -20.74%
Accrued Expenses $3.179M $2.268M
YoY Change 11.78% -26.63%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $5.962M $5.081M
YoY Change 6.22% -27.32%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $7.497M $7.796M
YoY Change -13.27% -12.38%
Total Long-Term Liabilities $7.497M $7.796M
YoY Change -13.27% -89.45%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.962M $5.081M
Total Long-Term Liabilities $7.497M $7.796M
Total Liabilities $13.46M $12.88M
YoY Change -5.6% -84.08%
SHAREHOLDERS EQUITY
Retained Earnings -$358.4M -$347.1M
YoY Change 14.0% 13.99%
Common Stock $385.4M $383.3M
YoY Change 2.8% 30.46%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $26.97M $36.29M
YoY Change
Total Liabilities & Shareholders Equity $40.43M $49.16M
YoY Change -45.92% -29.99%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$11.38M -$10.10M
YoY Change 14.86% 3.05%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$8.395M -$9.800M
YoY Change -8.77% 49.16%
INVESTING ACTIVITIES
Capital Expenditures $29.00K $5.000K
YoY Change 81.25% -87.18%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$29.00K -$5.000K
YoY Change 81.25% -87.18%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -265.0K $305.0K
YoY Change -101.91% -170.6%
NET CHANGE
Cash From Operating Activities -8.395M -$9.800M
Cash From Investing Activities -29.00K -$5.000K
Cash From Financing Activities -265.0K $305.0K
Net Change In Cash -8.689M -$9.480M
YoY Change -286.9% 34.64%
FREE CASH FLOW
Cash From Operating Activities -$8.395M -$9.800M
Capital Expenditures $29.00K $5.000K
Free Cash Flow -$8.424M -$9.805M
YoY Change -8.61% 48.36%

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CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-9800000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
34900000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-10100000 usd
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; margin: 0pt; text-indent: 27pt; text-align: justify;">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates that affect the amounts reported in the financial statements and accompanying notes to the financial statements. Estimates include, but are <i><em style="font: inherit;">not</em></i> limited to, the valuation and recognition of stock-based compensation, inventory valuation, warranty obligations, income taxes, and the useful lives assigned to long-lived assets. The Company evaluates its estimates and assumptions based on historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate. Actual results could differ materially from these estimates.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"></p>
CY2023Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
50000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
CY2024Q1 plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
0 usd
CY2023Q1 plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
0 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
50000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3476000 usd
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
10096411
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12816403
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
32702000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41184000 usd
CY2024Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5009000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5004000 usd
CY2024Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3609000 usd
CY2024Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1400000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1528000 usd
CY2024Q1 us-gaap Depreciation
Depreciation
100000 usd
CY2024Q1 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P12Y
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6266000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6099000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1719000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1886000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
498000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
665000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
556000 usd
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1719000 usd
CY2024Q1 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1783000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3199000 usd
CY2024Q1 plse Accrued Clinical Trial Fees And Costs
AccruedClinicalTrialFeesAndCosts
56000 usd
CY2023Q4 plse Accrued Clinical Trial Fees And Costs
AccruedClinicalTrialFeesAndCosts
84000 usd
CY2024Q1 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
232000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
343000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
197000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
188000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
2268000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3814000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1759000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
896000 usd
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1759000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
896000 usd
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7040000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7256000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1101000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1058000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7796000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8086000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8897000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9144000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
469000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
453000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1441000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1977000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2046000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2117000 usd
CY2024Q1 plse Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
4074000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11655000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2758000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
8897000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y7M2D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 pure

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ex_642897.htm Edgar Link pending
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plse-20240331.xsd Edgar Link pending
plse20240331_10q.htm Edgar Link pending
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plse-20240331_cal.xml Edgar Link unprocessable
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plse20240331_10q_htm.xml Edgar Link completed
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