$PLSE
PULSE BIOSCIENCES, INC.

2024 Q3 Form 10-Q Financial Statement

#000143774924027213 Filed on August 19, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $0.00 $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.952M $4.496M
YoY Change 57.46% 27.37%
% of Gross Profit
Research & Development $7.703M $7.230M
YoY Change 3.09% 7.96%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
% of Gross Profit
Operating Expenses $7.703M $7.230M
YoY Change 3.09% 7.96%
Operating Profit -$13.66M -$11.73M
YoY Change 21.36% 14.66%
Interest Expense $975.0K $343.0K
YoY Change 42.13% 8.2%
% of Operating Profit
Other Income/Expense, Net $975.0K $343.0K
YoY Change 42.13% 8.2%
Pretax Income -$12.68M -$11.38M
YoY Change 20.01% 14.86%
Income Tax $0.00 $0.00
% Of Pretax Income
Net Earnings -$12.68M -$11.38M
YoY Change 20.01% 14.86%
Net Earnings / Revenue
Basic Earnings Per Share -$0.21 -$0.20
Diluted Earnings Per Share -$0.21 -$0.20
COMMON SHARES
Basic Shares Outstanding 61.29M 55.23M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $79.03M $26.20M
YoY Change 56.84% -55.41%
Cash & Equivalents $79.03M $26.20M
Short-Term Investments
Other Short-Term Assets $1.381M $1.043M
YoY Change 11.37% -13.87%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $80.41M $27.24M
YoY Change 55.77% -54.57%
LONG-TERM ASSETS
Property, Plant & Equipment $1.221M $1.313M
YoY Change -25.91% -25.19%
Goodwill $2.791M $2.791M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $646.0K $714.0K
YoY Change 76.99% 95.62%
Total Long-Term Assets $12.63M $13.19M
YoY Change -11.8% -10.88%
TOTAL ASSETS
Total Short-Term Assets $80.41M $27.24M
Total Long-Term Assets $12.63M $13.19M
Total Assets $93.05M $40.43M
YoY Change 41.1% -45.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.727M $1.637M
YoY Change 22.31% -8.75%
Accrued Expenses $3.821M $3.179M
YoY Change 27.2% 11.78%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.741M $5.962M
YoY Change 24.1% 6.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.174M $7.497M
YoY Change -14.29% -13.27%
Total Long-Term Liabilities $7.174M $7.497M
YoY Change -14.29% -13.27%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.741M $5.962M
Total Long-Term Liabilities $7.174M $7.497M
Total Liabilities $13.92M $13.46M
YoY Change 0.83% -5.6%
SHAREHOLDERS EQUITY
Retained Earnings -$371.1M -$358.4M
YoY Change 14.2% 14.0%
Common Stock $450.2M $385.4M
YoY Change 19.39% 2.8%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $79.13M $26.97M
YoY Change
Total Liabilities & Shareholders Equity $93.05M $40.43M
YoY Change 41.1% -45.92%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$12.68M -$11.38M
YoY Change 20.01% 14.86%
Depreciation, Depletion And Amortization $100.0K $100.0K
YoY Change 0.0% 0.0%
Cash From Operating Activities -$9.024M -$8.395M
YoY Change -13.98% -8.77%
INVESTING ACTIVITIES
Capital Expenditures $38.00K $29.00K
YoY Change 90.0% 81.25%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$38.00K -$29.00K
YoY Change 90.0% 81.25%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 61.90M -265.0K
YoY Change 2792.48% -101.91%
NET CHANGE
Cash From Operating Activities -9.024M -8.395M
Cash From Investing Activities -38.00K -29.00K
Cash From Financing Activities 61.90M -265.0K
Net Change In Cash 52.84M -8.689M
YoY Change -731.27% -286.9%
FREE CASH FLOW
Cash From Operating Activities -$9.024M -$8.395M
Capital Expenditures $38.00K $29.00K
Free Cash Flow -$9.062M -$8.424M
YoY Change -13.78% -8.61%

Facts In Submission

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61139000 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
26196000 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
58747000 usd
plse Equipment Purchases Included In Accounts Payable And Accrued Expenses
EquipmentPurchasesIncludedInAccountsPayableAndAccruedExpenses
16000 usd
plse Equipment Purchases Included In Accounts Payable And Accrued Expenses
EquipmentPurchasesIncludedInAccountsPayableAndAccruedExpenses
10000 usd
plse Right Offering Deemed Dividend
RightOfferingDeemedDividend
47700000 usd
plse Right Offering Deemed Dividend
RightOfferingDeemedDividend
0 usd
us-gaap Stock Issued1
StockIssued1
0 usd
us-gaap Stock Issued1
StockIssued1
65248000 usd
plse Issuance Costs Incurred In Noncash Or Part Noncash Transaction
IssuanceCostsIncurredInNoncashOrPartNoncashTransaction
71000 usd
plse Issuance Costs Incurred In Noncash Or Part Noncash Transaction
IssuanceCostsIncurredInNoncashOrPartNoncashTransaction
-8000 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
36287000 usd
CY2024Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
13000 usd
CY2024Q2 plse Equity Classified Subscription Value
EquityClassifiedSubscriptionValue
47700000 usd
CY2024Q2 plse Right Offering Deemed Dividend
RightOfferingDeemedDividend
47700000 usd
CY2024Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2052000 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-11383000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
26969000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
44360000 usd
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
296000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
22000 usd
plse Equity Classified Subscription Value
EquityClassifiedSubscriptionValue
47700000 usd
plse Right Offering Deemed Dividend
RightOfferingDeemedDividend
47700000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
3811000 usd
us-gaap Net Income Loss
NetIncomeLoss
-21520000 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
26969000 usd
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
-10667000 usd
CY2023Q2 plse Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
14630000 usd
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
58000 usd
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
1143000 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-9910000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
60500000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-2248000 usd
plse Stock Issued During Period Value Exercise Of Warrants
StockIssuedDuringPeriodValueExerciseOfWarrants
14827000 usd
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
292000 usd
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
58000 usd
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2039000 usd
us-gaap Net Income Loss
NetIncomeLoss
-19711000 usd
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
60500000 usd
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 <em style="font: inherit;">not</em> limited to, the valuation and recognition of stock-based compensation, the valuation of equity-classified subscription rights, 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>
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 Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
50000 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
0 usd
CY2024Q2 plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
0 usd
CY2023Q2 plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
-50000 usd
plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
0 usd
plse Adjustment For Inventory At Cost
AdjustmentForInventoryAtCost
-50000 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2024Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
CY2023Q2 us-gaap Standard Product Warranty Accrual Current
StandardProductWarrantyAccrualCurrent
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
11596762
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
6888015
CY2024Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
23608000 usd
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
41184000 usd
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5054000 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
5004000 usd
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3741000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3476000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1313000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1528000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
100000 usd
us-gaap Depreciation
Depreciation
300000 usd
CY2024Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P12Y
CY2024Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6432000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
6099000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1553000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1886000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
332000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
665000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
556000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
1553000 usd
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
2678000 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
3199000 usd
CY2024Q2 plse Accrued Clinical Trial Fees And Costs
AccruedClinicalTrialFeesAndCosts
10000 usd
CY2023Q4 plse Accrued Clinical Trial Fees And Costs
AccruedClinicalTrialFeesAndCosts
84000 usd
CY2024Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
324000 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
343000 usd
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
167000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
188000 usd
CY2024Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3179000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
3814000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2052000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1143000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3811000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2039000 usd
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2052000 usd
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1143000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3811000 usd
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2039000 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
6818000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
7256000 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1146000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1058000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
7497000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8086000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8643000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
9144000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
940000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
907000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
970000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1977000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
2046000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
2117000 usd
CY2024Q2 plse Lessee Operating Lease Liability To Be Paid After Year Three
LesseeOperatingLeaseLiabilityToBePaidAfterYearThree
4074000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
11184000 usd
CY2024Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2541000 usd
CY2024Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
8643000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y4M2D
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.10 pure
CY2024Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
600000 usd
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
500000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1200000 usd
us-gaap Operating Lease Expense
OperatingLeaseExpense
1000000 usd

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