$PLSE
Pulse Biosciences Inc

2019 Q4 Form 10-Q Financial Statement

#000162510119000039 Filed on November 07, 2019

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2018 Q3
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $7.170M $5.610M $5.680M
YoY Change 87.7% -1.23% 36.54%
% of Gross Profit
Research & Development $6.590M $6.192M $5.038M
YoY Change 29.72% 22.91% 72.24%
% of Gross Profit
Depreciation & Amortization $270.0K $100.0K $200.0K
YoY Change -22.86% -50.0% 100.0%
% of Gross Profit
Operating Expenses $13.93M $11.96M $10.88M
YoY Change 53.76% 9.97% 44.57%
Operating Profit -$13.79M -$11.75M -$10.76M
YoY Change 54.0% 9.15% 43.75%
Interest Expense $140.0K $220.0K $120.0K
YoY Change 0.0% 83.33% 200.0%
% of Operating Profit
Other Income/Expense, Net $0.00
YoY Change -100.0%
Pretax Income -$13.79M -$11.75M -$10.76M
YoY Change 54.08% 9.2% 43.66%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$13.79M -$11.75M -$10.76M
YoY Change 54.0% 9.15% 43.75%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$663.0K -$565.7K -$635.6K
COMMON SHARES
Basic Shares Outstanding 20.79M 20.77M
Diluted Shares Outstanding

Balance Sheet

Concept 2019 Q4 2019 Q3 2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $25.40M $34.50M $21.02M
YoY Change -57.37% 64.13% -50.0%
Cash & Equivalents $6.899M $9.570M $6.331M
Short-Term Investments $18.50M $24.93M $14.69M
Other Short-Term Assets $1.010M $1.440M $1.100M
YoY Change 29.49% 30.91% 115.69%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $26.40M $35.94M $22.12M
YoY Change -56.26% 62.48% -48.02%
LONG-TERM ASSETS
Property, Plant & Equipment $2.566M $2.428M $2.339M
YoY Change 18.09% 3.81% -11.4%
Goodwill $2.791M $2.791M $2.791M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $494.0K $1.645M $101.0K
YoY Change 389.11% 1528.71% 1.0%
Total Long-Term Assets $15.51M $12.77M $10.61M
YoY Change 50.92% 20.33% -8.3%
TOTAL ASSETS
Total Short-Term Assets $26.40M $35.94M $22.12M
Total Long-Term Assets $15.51M $12.77M $10.61M
Total Assets $41.92M $48.70M $32.73M
YoY Change -40.66% 48.82% -39.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.963M $1.816M $1.281M
YoY Change 54.32% 41.76% 40.77%
Accrued Expenses $2.496M $2.054M $1.657M
YoY Change 75.65% 23.96% 41.62%
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 $4.459M $4.047M $3.348M
YoY Change 43.47% 20.88% 35.55%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $6.720M $3.670M $1.300M
YoY Change 460.0% 182.31% -24.42%
Total Long-Term Liabilities $6.720M $3.670M $1.300M
YoY Change 460.0% 182.31% -24.42%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.459M $4.047M $3.348M
Total Long-Term Liabilities $6.720M $3.670M $1.300M
Total Liabilities $11.18M $7.721M $4.652M
YoY Change 159.59% 65.97% 11.03%
SHAREHOLDERS EQUITY
Retained Earnings -$122.7M -$108.9M -$66.77M
YoY Change 62.03% 63.11%
Common Stock $153.4M $149.9M $94.84M
YoY Change 8.0% 58.02%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $30.74M $40.98M $28.07M
YoY Change
Total Liabilities & Shareholders Equity $41.92M $48.70M $32.73M
YoY Change -40.66% 48.82% -39.53%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2018 Q3
OPERATING ACTIVITIES
Net Income -$13.79M -$11.75M -$10.76M
YoY Change 54.0% 9.15% 43.75%
Depreciation, Depletion And Amortization $270.0K $100.0K $200.0K
YoY Change -22.86% -50.0% 100.0%
Cash From Operating Activities -$9.200M -$7.970M -$6.850M
YoY Change 45.8% 16.35% 100.88%
INVESTING ACTIVITIES
Capital Expenditures $40.00K -$540.0K -$70.00K
YoY Change -200.0% 671.43% -240.0%
Acquisitions
YoY Change
Other Investing Activities $6.490M $7.090M $6.060M
YoY Change 3.84% 17.0% 60.32%
Cash From Investing Activities $6.530M $6.550M $5.990M
YoY Change 4.98% 9.35% 55.99%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000 200.0K 400.0K
YoY Change -100.0% -50.0% -98.67%
NET CHANGE
Cash From Operating Activities -9.200M -7.970M -6.850M
Cash From Investing Activities 6.530M 6.550M 5.990M
Cash From Financing Activities 0.000 200.0K 400.0K
Net Change In Cash -2.670M -1.220M -460.0K
YoY Change -105.96% 165.22% -101.51%
FREE CASH FLOW
Cash From Operating Activities -$9.200M -$7.970M -$6.850M
Capital Expenditures $40.00K -$540.0K -$70.00K
Free Cash Flow -$9.240M -$7.430M -$6.780M
YoY Change 47.37% 9.59% 95.95%

Facts In Submission

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us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
9000
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-14000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
115000
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
613000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
39799000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
72981000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
243000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
645000
CY2018Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2019Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2018Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2019Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
50000000
CY2018Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2019Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<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;font-weight:bold;font-style:italic;">&#xFEFF;</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>
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
327000
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
423000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
35065000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
57000000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
24875000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
423000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
272000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
12174000
CY2018Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5038000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
18371000
CY2019Q3 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6192000
CY2018Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3165000
CY2019Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3810000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2173000
CY2019Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2428000
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-75718000
CY2019Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-108901000
us-gaap Revenues
Revenues
CY2018Q3 us-gaap Revenues
Revenues
us-gaap Revenues
Revenues
CY2019Q3 us-gaap Revenues
Revenues
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1190000
CY2019Q3 us-gaap Security Deposit
SecurityDeposit
364937.68
us-gaap Share Based Compensation
ShareBasedCompensation
9988000
us-gaap Share Based Compensation
ShareBasedCompensation
7739000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
45995000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
35047000
CY2018Q3 us-gaap Stockholders Equity
StockholdersEquity
28074000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
66334000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
49861000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
40981000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
327000
CY2018Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
139000
us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
423000
CY2019Q3 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
201000
us-gaap Stock Issued During Period Value Restricted Stock Award Gross
StockIssuedDuringPeriodValueRestrictedStockAwardGross
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
423000
CY2018Q3 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
258000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
272000
us-gaap Use Of Estimates
UseOfEstimates
<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;">Use of Estimates</font> </p> <p style="margin:0pt;line-height:100%;font-family:Times New Roman;font-size: 10pt"> <font style="display: inline;">&#xFEFF;</font> </p> <p style="margin:0pt;text-indent:24.5pt;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. 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
16883000
CY2018Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
16927000
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20728000
CY2019Q3 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20774000

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