$PLSE
Pulse Biosciences Inc

2018 Q4 Form 10-Q Financial Statement

#000162510118000052 Filed on November 01, 2018

View on sec.gov

Income Statement

Concept 2018 Q4 2018 Q3 2017 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.820M $5.680M $4.160M
YoY Change -39.84% 36.54% 367.42%
% of Gross Profit
Research & Development $5.080M $5.038M $2.925M
YoY Change 77.37% 72.24% 68.1%
% of Gross Profit
Depreciation & Amortization $350.0K $200.0K $100.0K
YoY Change 12.9% 100.0% -47.37%
% of Gross Profit
Operating Expenses $9.060M $10.88M $7.525M
YoY Change 2.59% 44.57% 168.75%
Operating Profit -$8.953M -$10.76M -$7.486M
YoY Change 2.87% 43.75%
Interest Expense $140.0K $120.0K $40.00K
YoY Change 7.69% 200.0% 33.33%
% of Operating Profit
Other Income/Expense, Net -$30.00K
YoY Change
Pretax Income -$8.950M -$10.76M -$7.490M
YoY Change 2.87% 43.66% 170.4%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$8.953M -$10.76M -$7.486M
YoY Change 2.87% 43.75% 170.25%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$506.8K -$635.6K -$520.9K
COMMON SHARES
Basic Shares Outstanding 16.99M
Diluted Shares Outstanding

Balance Sheet

Concept 2018 Q4 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $59.58M $21.02M $42.04M
YoY Change 56.5% -50.0% 124.69%
Cash & Equivalents $51.10M $6.331M $32.42M
Short-Term Investments $8.480M $14.69M $9.620M
Other Short-Term Assets $780.0K $1.100M $510.0K
YoY Change 90.24% 115.69% 75.86%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $60.36M $22.12M $42.55M
YoY Change 56.86% -48.02% 123.83%
LONG-TERM ASSETS
Property, Plant & Equipment $2.173M $2.339M $2.640M
YoY Change -15.45% -11.4% 725.0%
Goodwill $2.791M $2.791M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $101.0K $101.0K $100.0K
YoY Change 0.0% 1.0%
Total Long-Term Assets $10.28M $10.61M $11.57M
YoY Change -9.37% -8.3% 17.82%
TOTAL ASSETS
Total Short-Term Assets $60.36M $22.12M $42.55M
Total Long-Term Assets $10.28M $10.61M $11.57M
Total Assets $70.64M $32.73M $54.12M
YoY Change 41.79% -39.53% 87.72%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.272M $1.281M $910.0K
YoY Change 62.66% 40.77% 102.22%
Accrued Expenses $1.421M $1.657M $1.170M
YoY Change 37.43% 41.62% 125.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.108M $3.348M $2.470M
YoY Change 40.44% 35.55% 154.64%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $1.200M $1.300M $1.720M
YoY Change -25.47% -24.42%
Total Long-Term Liabilities $1.200M $1.300M $1.720M
YoY Change -25.47% -24.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.108M $3.348M $2.470M
Total Long-Term Liabilities $1.200M $1.300M $1.720M
Total Liabilities $4.306M $4.652M $4.190M
YoY Change 12.55% 11.03% 331.96%
SHAREHOLDERS EQUITY
Retained Earnings -$75.72M -$66.77M
YoY Change 98.35%
Common Stock $142.1M $94.84M
YoY Change 68.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $66.33M $28.07M $49.94M
YoY Change
Total Liabilities & Shareholders Equity $70.64M $32.73M $54.12M
YoY Change 41.79% -39.53% 87.72%

Cashflow Statement

Concept 2018 Q4 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income -$8.953M -$10.76M -$7.486M
YoY Change 2.87% 43.75% 170.25%
Depreciation, Depletion And Amortization $350.0K $200.0K $100.0K
YoY Change 12.9% 100.0% -47.37%
Cash From Operating Activities -$6.310M -$6.850M -$3.410M
YoY Change 58.94% 100.88% 72.22%
INVESTING ACTIVITIES
Capital Expenditures -$40.00K -$70.00K $50.00K
YoY Change -71.43% -240.0%
Acquisitions
YoY Change
Other Investing Activities $6.250M $6.060M $3.780M
YoY Change -124.88% 60.32% -127.79%
Cash From Investing Activities $6.220M $5.990M $3.840M
YoY Change -124.62% 55.99% -128.24%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 44.86M 400.0K 30.00M
YoY Change 23510.53% -98.67%
NET CHANGE
Cash From Operating Activities -6.310M -6.850M -3.410M
Cash From Investing Activities 6.220M 5.990M 3.840M
Cash From Financing Activities 44.86M 400.0K 30.00M
Net Change In Cash 44.77M -460.0K 30.43M
YoY Change -254.17% -101.51% -295.31%
FREE CASH FLOW
Cash From Operating Activities -$6.310M -$6.850M -$3.410M
Capital Expenditures -$40.00K -$70.00K $50.00K
Free Cash Flow -$6.270M -$6.780M -$3.460M
YoY Change 63.71% 95.95% 74.75%

Facts In Submission

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<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;">Reclassifications</font> </p> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">Certain items in prior period financial statements have been reclassified to conform to the presentation in the current period financial statements. Such reclassifications did not impact the Company's previously reported net loss or financial position.</font> </p> <p><font size="1"> </font></p> </div> </div>
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200000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
423000
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
50000
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3051000
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3294000
CY2017Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2570000
CY2018Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2339000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6782000
CY2017Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2925000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12174000
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5038000
CY2018Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-66765000
us-gaap Revenues
Revenues
CY2017Q3 us-gaap Revenues
Revenues
us-gaap Revenues
Revenues
CY2018Q3 us-gaap Revenues
Revenues
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
28074000
us-gaap Share Based Compensation
ShareBasedCompensation
6403000
us-gaap Share Based Compensation
ShareBasedCompensation
9988000
us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:10pt 0pt 0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;font-weight:bold;font-style:italic;">Use of Estimates</font> </p> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">The preparation of financial statements in conformity with U.S. GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the Financial Statements and accompanying notes to the Financial Statements. Estimates include, but are not limited to, the valuation of cash equivalents and investments, the valuation and recognition of share-based compensation and the useful lives assigned to long-lived assets.&nbsp;&nbsp;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.</font> </p> <p><font size="1"> </font></p> </div> </div>
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14141000
CY2017Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
14381000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16883000
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16927000

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