$PLSE
Pulse Biosciences Inc

2020 Q2 Form 10-Q Financial Statement

#000162510120000027 Filed on May 11, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2020 Q1 2019 Q1
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $5.320M $5.600M $4.400M
YoY Change 3.3% 27.27% -18.22%
% of Gross Profit
Research & Development $5.870M $6.181M $5.842M
YoY Change -7.37% 5.8% 84.0%
% of Gross Profit
Depreciation & Amortization $100.0K $100.0K $162.0K
YoY Change 0.0% -38.27% 5.88%
% of Gross Profit
Operating Expenses $11.35M $11.95M $10.41M
YoY Change -2.53% 14.79% 19.33%
Operating Profit -$10.08M
YoY Change 16.27%
Interest Expense $20.00K $80.00K $330.0K
YoY Change -93.1% -75.76% 450.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$11.33M -$11.87M -$10.08M
YoY Change -0.26% 17.76% 16.26%
Income Tax
% Of Pretax Income
Net Earnings -$11.33M -$11.87M -$10.08M
YoY Change -0.23% 17.8% 16.27%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share -$526.2K -$569.6K -$487.4K
COMMON SHARES
Basic Shares Outstanding 20.87M 20.83M 20.69M
Diluted Shares Outstanding

Balance Sheet

Concept 2020 Q2 2020 Q1 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $37.77M $15.89M $52.80M
YoY Change -11.42% -69.91% 58.18%
Cash & Equivalents $37.77M $7.864M $8.536M
Short-Term Investments $0.00 $8.020M $44.27M
Other Short-Term Assets $910.0K $550.0K $550.0K
YoY Change -52.36% 0.0% 48.65%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $38.67M $16.43M $53.35M
YoY Change -13.19% -69.2% 58.12%
LONG-TERM ASSETS
Property, Plant & Equipment $2.591M $2.633M $2.056M
YoY Change 30.53% 28.06% -16.08%
Goodwill $2.791M $2.791M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $365.0K $562.0K $208.0K
YoY Change -77.81% 170.19% 108.0%
Total Long-Term Assets $19.71M $15.41M $10.10M
YoY Change 57.89% 52.57% -8.68%
TOTAL ASSETS
Total Short-Term Assets $38.67M $16.43M $53.35M
Total Long-Term Assets $19.71M $15.41M $10.10M
Total Assets $58.38M $31.84M $63.45M
YoY Change 2.37% -49.82% 41.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.489M $1.214M $1.200M
YoY Change -5.58% 1.17% 27.66%
Accrued Expenses $3.123M $2.071M $1.920M
YoY Change 83.38% 7.86% 125.88%
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 $4.890M $3.383M $3.115M
YoY Change 41.82% 8.6% 42.24%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.16M $6.690M $1.220M
YoY Change 200.0% 448.36% -19.21%
Total Long-Term Liabilities $11.16M $6.690M $1.220M
YoY Change 200.0% 448.36% -19.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.890M $3.383M $3.115M
Total Long-Term Liabilities $11.16M $6.690M $1.220M
Total Liabilities $16.05M $10.07M $4.338M
YoY Change 123.84% 132.2% 17.24%
SHAREHOLDERS EQUITY
Retained Earnings -$145.9M -$134.6M -$85.80M
YoY Change 50.17% 56.84%
Common Stock $188.2M $156.3M
YoY Change 28.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $42.33M $21.77M $59.11M
YoY Change
Total Liabilities & Shareholders Equity $58.38M $31.84M $63.45M
YoY Change 2.37% -49.82% 41.63%

Cashflow Statement

Concept 2020 Q2 2020 Q1 2019 Q1
OPERATING ACTIVITIES
Net Income -$11.33M -$11.87M -$10.08M
YoY Change -0.23% 17.8% 16.27%
Depreciation, Depletion And Amortization $100.0K $100.0K $162.0K
YoY Change 0.0% -38.27% 5.88%
Cash From Operating Activities -$7.940M -$9.622M -$7.330M
YoY Change -18.06% 31.27% 46.07%
INVESTING ACTIVITIES
Capital Expenditures $70.00K $171.0K $45.00K
YoY Change -216.67% 280.0% 32.35%
Acquisitions
YoY Change
Other Investing Activities $8.010M $10.49M -$35.69M
YoY Change -36.53% -129.39% -396.67%
Cash From Investing Activities $8.080M $10.32M -$35.73M
YoY Change -35.62% -128.89% -397.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $255.0K $272.0K
YoY Change -6.25%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.76M 264.0K 494.0K
YoY Change -4978.69% -46.56% 64.67%
NET CHANGE
Cash From Operating Activities -7.940M -9.622M -7.330M
Cash From Investing Activities 8.080M 10.32M -35.73M
Cash From Financing Activities 29.76M 264.0K 494.0K
Net Change In Cash 29.90M 965.0K -42.57M
YoY Change 1228.89% -102.27% -684.63%
FREE CASH FLOW
Cash From Operating Activities -$7.940M -$9.622M -$7.330M
Capital Expenditures $70.00K $171.0K $45.00K
Free Cash Flow -$8.010M -$9.793M -$7.375M
YoY Change -16.82% 32.79% 45.98%

Facts In Submission

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CY2019Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2019Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
1005000
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
545000
CY2019Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
272000
CY2020Q1 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
255000
CY2019Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
8500000
CY2020Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
13500000
CY2019Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
222000
CY2020Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
9000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
4052000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2566000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2633000
CY2019Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
5842000
CY2020Q1 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6181000
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-122689000
CY2019Q1 us-gaap Revenues
Revenues
CY2020Q1 us-gaap Revenues
Revenues
CY2019Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2361000
CY2020Q1 us-gaap Share Based Compensation
ShareBasedCompensation
2626000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
66334000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
59114000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
30737000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
21768000
CY2019Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
222000
CY2020Q1 us-gaap Stock Issued During Period Value Employee Stock Purchase Plan
StockIssuedDuringPeriodValueEmployeeStockPurchasePlan
255000
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
272000
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
9000
CY2020Q1 us-gaap Use Of Estimates
UseOfEstimates
<div> <div style="margin-left:0pt;margin-right:0pt;"> <p style="margin:0pt;text-align:justify;text-justify:inter-ideograph;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;text-align:justify;text-justify:inter-ideograph;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;text-align:justify;text-justify:inter-ideograph;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 </font><font style="display: inline;">c</font><font style="display: inline;">ondensed consolidated 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>
CY2019Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20679000
CY2020Q1 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
20838000

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