\nPulse Biosciences, Inc. (Nasdaq: PLSE), developer of novel nPulse\u2122 technology using proprietary Nanosecond Pulsed Field Ablation\u2122 (nanosecond PFA or nsPFA\u2122) energy, today announced business updates and financial results for the first quarter ended March 31, 2026.<\/p>\n
Recent Business Highlights<\/b><\/p>\n
Endocardial Catheter AF Ablation<\/b><\/p>\n Surgical AF Ablation<\/b><\/p>\n Soft Tissue Ablation<\/b><\/p>\n \n\u201cThis was a defining quarter for Pulse Biosciences. We sharpened our strategic focus on electrophysiology based on landmark clinical outcomes that reinforced the durability and efficiency of AF treatment with the nPulse catheter and commenced enrollment in our U.S. IDE pivotal trial of our nPulse Cardiac Catheter System,\u201d said Paul LaViolette, CEO and Co-Chairman of Pulse Biosciences. \u201cBased on high investigator enthusiasm and early pivotal study progress, we are pleased to update our anticipated enrollment completion timing to early-Q4, 2026. The momentum we are building positions us to advance critical clinical and regulatory milestones that will bring the transformative potential of nanosecond PFA technology to patients and physicians globally.\u201d<\/p>\n \nMs. Liane Teplitsky joined Pulse Biosciences as Chief Operating Officer and brings a wealth of experience in electrophysiology at this consequential moment of our strategic focus. Her impact on the nPulse Cardiac Catheter program will enable accelerated clinical development, and her impact is already evident through relationships with leading physicians as well as internal and external business leaders.<\/p>\n First Quarter 2026 Financial Results<\/b><\/p>\n \nTotal revenue for the three months ended March 31, 2026 was $0.4 million, including both capital and disposable sales.<\/p>\n \nTotal GAAP costs and expenses, representing cost of product revenue, research and development, and selling, general and administrative expenses, for the three months ended March 31, 2026, were $19.6 million, an increase of $1.6 million compared to $18.0 million in the prior year period. The increase was primarily driven by increased investment in clinical programs, partially offset by lower stock-based compensation expense. Non-GAAP costs and expenses for the three months ended March 31, 2026, were $17.4 million, an increase of $4.7 million compared to $12.7 million in the prior year period.<\/p>\n \nGAAP net loss for the three months ended March 31, 2026 was ($18.6) million compared to ($16.8) million for the three months ended March 31, 2025. Non-GAAP net loss for the three months ended March 31, 2026 was ($16.4) million compared to ($11.4) million for the three months ended March 31, 2025.<\/p>\n \nCash and cash equivalents totaled $68.3 million as of March 31, 2026, compared to $119.3 million as of March 31, 2025 and $80.7 million as of December 31, 2025. Cash used in operating activities in the first quarter of 2026 totaled $14.6 million, compared to $13.5 million used in the same period in the prior year, and $14.8 million used in the fourth quarter of 2025. The Company has an ATM program in effect with approximately $60 million of availability. In addition, the Company has an effective $200 million shelf registration statement.<\/p>\n \nReconciliations of GAAP to Non-GAAP cost and expenses and net loss have been provided in the tables following the financial statements in this press release. An explanation of these measures is also included below under the heading \u201cNon-GAAP Financial Measures.\u201d<\/p>\n Grant of Inducement Options<\/b><\/p>\n \nIn May 2026, the Company granted options to four new employees of the Company to purchase a collective total of up to 15,000 shares of Company common stock. These awards were granted as an inducement material to their becoming employees of the Company in accordance with Nasdaq Listing Rule 5635(c)(4) and were approved by the Company\u2019s Compensation Committee. The inducement awards were granted on May 2, 2026, pre-market. The options have a ten-year term and an exercise price of $20.83 per share, the closing price per share of the Company\u2019s common stock as reported by Nasdaq on May 1, 2026, the last closing price prior to grant, and all will be subject to time-based vesting over four years, with 1\/4 of each award vesting annually, subject to the employee\u2019s continued employment with Pulse Biosciences. The options are subject to the terms and conditions of the 2017 Inducement Equity Incentive Plan, as amended to date, and the award agreements entered into with each recipient.<\/p>\n Webcast and Conference Call Information<\/b><\/p>\n \nPulse Biosciences’ management will host a conference call Thursday, May 7, 2026, beginning at 1:30pm PT. Investors interested in listening to the conference call may do so by dialing 1-800-715-9871 from the U.S. or 1-646-307-1963 internationally and providing Conference ID 2636693. A live and recorded webcast of the event will be available at https:\/\/investors.pulsebiosciences.com\/<\/a>.<\/p>\n About Pulse Biosciences<\/b>\u00ae<\/sup><\/p>\n \nPulse Biosciences is a novel bioelectric medicine company committed to health innovation that has the intention as well as potential to improve the quality of life for patients. The Company\u2019s proprietary nPulse\u2122 technology delivers nanosecond pulses of electrical energy to non-thermally clear cells while sparing adjacent noncellular tissue. The Company is actively pursuing the development of its nPulse technology for use in the treatment of atrial fibrillation and in a select few other markets where it could have a profound positive impact on healthcare for both patients and providers.<\/p>\n \nPulse Biosciences, nPulse, Vybrance, CellFX, Nano-Pulse Stimulation, NPS, nsPFA, CellFX nsPFA and the stylized logos are among the trademarks and\/or registered trademarks of Pulse Biosciences, Inc. in the United States and other countries.<\/p>\n Non-GAAP Financial Measures<\/b><\/p>\n \nIn this press release, in order to supplement the Company’s condensed consolidated financial statements presented in accordance with Generally Accepted Accounting Principles, or GAAP, management has disclosed certain non-GAAP financial measures for the statement of operations. The Company believes that an evaluation of its ongoing operations (and comparisons of its current operations with historical and future operations) would be difficult if the disclosure of its financial results were limited to financial measures prepared in accordance with GAAP. As a result, the Company is disclosing certain non-GAAP results in order to supplement investors’ and other readers’ understanding and assessment of the Company’s financial performance. Company management uses these measurements as aids in monitoring the Company’s ongoing financial performance from quarter to quarter, and year to year, on a regular basis and for financial and operational decision-making. Non-GAAP adjustments include stock-based compensation, depreciation and amortization, and a legal settlement. From time to time in the future, there may be other items that the Company may exclude if the Company believes that doing so is consistent with the goal of providing useful information to management and investors. The Company has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. Investors are cautioned that there are a number of limitations associated with the use of non-GAAP financial measures as analytical tools. Investors are encouraged to review these reconciliations, and not to rely on any single financial measure to evaluate the Company’s business.<\/p>\n \nNon-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies, which could reduce the usefulness of the Company’s non-GAAP financial measures as tools for comparison. Investors and other readers are encouraged to review the related GAAP financial measures and the reconciliation of non-GAAP measures to their most directly comparable GAAP measures set forth below and should consider non-GAAP measures only as a supplement to, not as a substitute for or as a superior measure to, measures of financial performance prepared in accordance with GAAP. Non-GAAP financial measures in this earnings release exclude non-cash expenses for stock-based compensation, depreciation and amortization and legal settlement expenses.<\/p>\n Forward-Looking Statements<\/b><\/p>\n \nAll statements in this press release that are not historical are forward-looking statements, including, among other things, statements concerning early clinical successes and whether they are predictive of the safety and effectiveness of any medical device such as the nPulse Cardiac Catheter System, statements concerning whether the Company\u2019s sharpened strategic focus on electrophysiology, including its hire of key personnel with EP experience, will allow it to accelerate enrollment in the NANOPULSE-AF clinical trial or in any other trial or study, Pulse Biosciences\u2019 expectations, whether stated or implied, about whether the Company\u2019s nsPFA technology will become either a disruptive treatment option or a superior option for treating atrial fibrillation or any other medical condition, statements relating to the effectiveness of the Company\u2019s nsPFA technology and nPulse System to non-thermally clear cells while sparing adjacent non-cellular tissue, statements concerning the Company\u2019s expected product development efforts, such as advancement of its nPulse Cardiac Catheter to treat paroxysmal atrial fibrillation, statements concerning whether any clinical study will show that the Company\u2019s novel nsPFA mechanism of action and catheter design will deliver fast, precise ablations in cardiac tissue and streamline workflow, statements concerning market opportunities, customer adoption and future use of the nPulse System to address a range of conditions such as atrial fibrillation, and other future events. These statements are not historical facts but rather are based on Pulse Biosciences\u2019 current expectations, estimates, and projections regarding Pulse Biosciences\u2019 business, operations and other similar or related factors. Words such as \u201cmay,\u201d \u201cwill,\u201d \u201ccould,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201canticipate,\u201d \u201cpredict,\u201d \u201cpotential,\u201d \u201ccontinue,\u201d \u201cexpects,\u201d \u201cintends,\u201d \u201cplans,\u201d \u201cprojects,\u201d \u201cbelieves,\u201d \u201cestimates,\u201d and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond Pulse Biosciences\u2019 control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in Pulse Biosciences\u2019 filings with the Securities and Exchange Commission. Pulse Biosciences undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.<\/p>\n PULSE BIOSCIENCES, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Balance Sheets<\/b><\/p>\n<\/td>\n<\/tr>\n (In thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n December 31,<\/b><\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n ASSETS<\/b><\/p>\n<\/td>\n \nCurrent assets:<\/p>\n<\/td>\n \nCash and cash equivalents<\/p>\n<\/td>\n \n68,319<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80,735<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccounts receivable, net<\/p>\n<\/td>\n \n157<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n274<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nInventory<\/p>\n<\/td>\n \n206<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n136<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nPrepaid expenses and other current assets<\/p>\n<\/td>\n \n2,448<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,276<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal current assets<\/p>\n<\/td>\n \n71,130<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n83,421<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nProperty and equipment, net<\/p>\n<\/td>\n \n1,016<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,051<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nIntangible assets, net<\/p>\n<\/td>\n \n408<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n575<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nGoodwill<\/p>\n<\/td>\n \n2,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,791<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nRight-of-use assets<\/p>\n<\/td>\n \n5,702<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n6,010<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther assets<\/p>\n<\/td>\n \n575<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n691<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal assets<\/p>\n<\/td>\n \n81,622<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n94,539<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n LIABILITIES AND STOCKHOLDERS\u2019 EQUITY<\/b><\/p>\n<\/td>\n \nCurrent liabilities:<\/p>\n<\/td>\n \nAccounts payable<\/p>\n<\/td>\n \n2,761<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,777<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccrued liabilities<\/p>\n<\/td>\n \n5,408<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n3,576<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLease liability, current<\/p>\n<\/td>\n \n1,627<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,570<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal current liabilities<\/p>\n<\/td>\n \n9,796<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,923<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLease liability, less current portion<\/p>\n<\/td>\n \n5,528<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,960<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities<\/p>\n<\/td>\n \n15,324<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n13,883<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStockholders\u2019 equity:<\/p>\n<\/td>\n \nPreferred stock, $0.001 par value; authorized \u2013 50,000,000 shares; no shares issued and outstanding<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCommon stock, $0.001 par value; authorized \u2013 500,000,000 shares; issued and outstanding \u2013 68,225,067 shares and 67,839,689 shares as of March 31, 2026 and December 31, 2025, respectively<\/p>\n<\/td>\n \n68<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n68<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAdditional paid-in capital<\/p>\n<\/td>\n \n548,092<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n543,869<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nAccumulated deficit<\/p>\n<\/td>\n \n(481,862<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(463,281<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTotal stockholders\u2019 equity<\/p>\n<\/td>\n \n66,298<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n80,656<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal liabilities and stockholders\u2019 equity<\/p>\n<\/td>\n \n81,622<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n94,539<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n PULSE BIOSCIENCES, INC.<\/b><\/p>\n<\/td>\n<\/tr>\n Condensed Consolidated Statements of Operations and Comprehensive Loss<\/b><\/p>\n<\/td>\n<\/tr>\n (In thousands, except share and per share data)<\/b><\/p>\n<\/td>\n<\/tr>\n (Unaudited)<\/b><\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2026<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \nRevenue:<\/p>\n<\/td>\n \nProduct revenue<\/p>\n<\/td>\n \n401<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nCost and expenses:<\/p>\n<\/td>\n \nCost of product revenue<\/p>\n<\/td>\n \n370<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nResearch and development<\/p>\n<\/td>\n \n12,590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,313<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative<\/p>\n<\/td>\n \n6,591<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,731<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal cost and expenses<\/p>\n<\/td>\n \n19,551<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,044<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLoss from operations<\/p>\n<\/td>\n \n(19,150<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(18,044<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nOther income (expense):<\/p>\n<\/td>\n \nInterest income<\/p>\n<\/td>\n \n593<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nOther expense<\/p>\n<\/td>\n \n(24<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(6<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nTotal other income<\/p>\n<\/td>\n \n569<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n1,249<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNet loss<\/p>\n<\/td>\n \n(18,581<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(16,795<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nComprehensive loss<\/p>\n<\/td>\n \n(18,581<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(16,795<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNet loss per share, basic and diluted<\/p>\n<\/td>\n \n(0.27<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(0.25<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nWeighted average common shares outstanding, basic and diluted<\/p>\n<\/td>\n \n67,994,566<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n67,125,967<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n Stock-Based Compensation Expense:<\/b><\/p>\n<\/td>\n 2026<\/b><\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \nCost of product revenue<\/p>\n<\/td>\n \n44<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nResearch and development<\/p>\n<\/td>\n \n1,758<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,762<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nSelling, general and administrative<\/p>\n<\/td>\n \n110<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n2,919<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nTotal stock-based compensation expense<\/p>\n<\/td>\n \n1,912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,681<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Reconciliation of GAAP to Non-GAAP Financial Measures<\/b><\/p>\n<\/td>\n<\/tr>\n \nThe following table presents the reconciliation of non-GAAP financial measures to the most directly comparable GAAP financial measures:<\/p>\n<\/td>\n<\/tr>\n \n(In thousands)<\/p>\n<\/td>\n<\/tr>\n \n(Unaudited)<\/p>\n<\/td>\n<\/tr>\n Three Months Ended<\/b><\/p>\n<\/td>\n<\/tr>\n March 31,<\/b><\/p>\n<\/td>\n<\/tr>\n 2026<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n 2025<\/b><\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Cost of product revenue:<\/b><\/p>\n<\/td>\n \nGAAP Cost of product revenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n370<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n(44<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Cost of product revenue<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n326<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Research and development:<\/b><\/p>\n<\/td>\n \nGAAP Research and development<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n12,590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n10,313<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n(1,758<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(2,762<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n(43<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(46<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Research and development<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n10,789<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,505<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Selling, general and administrative:<\/b><\/p>\n<\/td>\n \nGAAP Selling, general and administrative<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,591<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n7,731<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n(110<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(2,919<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n(212<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(236<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLegal settlement<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Selling, general and administrative<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n6,269<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,166<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n Reconciliation of GAAP to non-GAAP Cost and expenses:<\/b><\/p>\n<\/td>\n \nGAAP Cost and expenses<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n19,551<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n18,044<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n(1,912<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(5,681<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n(255<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(282<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nLegal settlement<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n590<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Cost and expenses<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n17,384<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n12,671<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \n\u00a0<\/p>\n<\/td>\n Reconciliation of GAAP to non-GAAP Net loss:<\/b><\/p>\n<\/td>\n \nGAAP Net loss<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(18,581<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(16,795<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nStock-based compensation expense<\/p>\n<\/td>\n \n1,912<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n5,681<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nDepreciation and amortization<\/p>\n<\/td>\n \n255<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n282<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n \nLegal settlement<\/p>\n<\/td>\n \n\u2014<\/p>\n<\/td>\n \n\u00a0<\/p>\n<\/td>\n \n(590<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n \nNon-GAAP Net loss<\/p>\n<\/td>\n \n$<\/p>\n<\/td>\n \n(16,414<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n \n(11,422<\/p>\n<\/td>\n \n)<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20260504698797\/en\/<\/a><\/span><\/p>\n Investors: KEYWORDS:<\/b> California United States North America<\/p>\n INDUSTRY KEYWORDS:<\/b> Research Data Management Medical Devices Technology Health Technology Clinical Trials Science Nanotechnology Cardiology Biotechnology Medical Supplies Health<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n <\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n <\/tr>\n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n <\/tr>\n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n <\/tr>\n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n $<\/td>\n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n <\/tr>\n \n \n \n \n <\/tr>\n \n \n \n \n \n \n $<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n $<\/td>\n \n \n \n <\/p>\n
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Pulse Biosciences, Inc.
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Jon Skinner, CFO
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IR@pulsebiosciences.com
\n<\/a>
Or
\n<\/b>
Gilmartin Group
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Philip Trip Taylor
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415.937.5406
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philip@gilmartinir.com<\/a><\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260504698797\/en\/1279777\/3\/pulse-logo.jpg\"){kind=logo}
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