Pulse Biosciences Inc (NASDAQ:PLSE) Reports Q2 2025 Earnings: Wider Loss, Clinical Progress in Focus

Pulse Biosciences Inc (NASDAQ:PLSE) reported its second-quarter 2025 financial results, posting a net loss of $0.28 per share, slightly wider than the analyst consensus estimate of a $0.27 loss. Revenue for the quarter remained at $0, in line with expectations, as the company continues to focus on clinical development rather than commercialization.

Key Financial Takeaways

• Q2 2025 EPS: Reported at -$0.28, compared to the estimated -$0.27.
• Revenue: $0, matching analyst expectations.
• Cash Position: Ended the quarter with $106.3 million in cash and equivalents, down from $119.3 million at the end of Q1 2025.
• Operating Expenses: GAAP costs and expenses rose to $20.3 million, up from $11.7 million in the prior-year period, driven by increased R&D and administrative costs.

Market Reaction

Following the earnings release, the stock showed no immediate after-hours movement, suggesting a neutral market response. Over the past month, shares have declined 7.4%, reflecting broader investor caution ahead of the earnings report. The lack of a significant post-earnings reaction indicates that results were largely anticipated, with no major surprises to drive momentum.

Business Highlights from the Press Release

Pulse Biosciences continues to advance its Nanosecond Pulsed Field Ablation (nsPFA) technology across multiple clinical programs:

• Soft Tissue Ablation: Expanded its pilot program for benign thyroid nodule treatment, with over 140 patients treated to date.
• Surgical AF Ablation: Submitted an FDA Investigational Device Exemption (IDE) application and remains on track to begin a pivotal study.
• Endocardial Catheter AF Ablation: Also submitted an FDA IDE application, with over 140 patients treated in European feasibility studies.

CEO Paul LaViolette emphasized progress across all three key development programs, reinforcing the potential of nsPFA technology in treating atrial fibrillation and benign thyroid disease.

Outlook vs. Analyst Estimates

While the company did not provide explicit forward guidance, analysts currently estimate:

• Q3 2025 Revenue: $510,000 (though Pulse has not yet generated product revenue).
• Full-Year 2025 Revenue: $1.28 million, reflecting expectations for potential initial commercialization.
• Q3 2025 EPS Estimate: -$0.28, indicating continued losses as R&D investments persist.

Given the lack of revenue generation so far, investor focus remains on clinical milestones rather than near-term financial performance.

Conclusion

Pulse Biosciences’ Q2 results were largely in line with expectations, with no major deviations in EPS or revenue. The market’s muted reaction suggests investors are taking a wait-and-see approach as the company progresses through clinical trials. The next key catalysts will be FDA decisions on its IDE submissions and updates from ongoing studies.

For more detailed earnings estimates and historical performance, visit Pulse Biosciences’ earnings page.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.