your badges 52W Range $13–$59 76% of range Analyst Rating BUY 10 analysts Price Target $54 +13% upside P/E · ROE · Net Profit Margin -6755.8%

PLSE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range

03
Price $47.90
Market Cap (MRQ) $3.39B
Revenue $350.0K
52W Range $13–$59

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10-Year Performance Revenue, net income, margins and EPS trends

06
Revenue$350.0K
2020-12-31 → 2025-12-31
Free Cash Flow·
2016-12-31 → 2023-12-31
Net margin-6755.8%
2016-12-31 → 2022-12-31
Valuation & Ratios 07–12

Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?

Metric 5Y trend PLSE 5Y avg Peer Median Verdict
P/S (TTM) 2861.9 · 3.7 Overvalued
P/B (MRQ) 34.15Y avg ≈-6.1 ≈-6.1 4.0 Overvalued
Price / FCF (TTM) -55.25Y avg ≈-10.2 ≈-10.2 · ·
Price / Cash Flow (TTM) -55.55Y avg ≈-10.3 ≈-10.3 · ·
Price / Tangible Book (MRQ) 34.25Y avg ≈12.6 ≈12.6 · ·

Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.

value · ≈ 5Y avg · industry median · verdict relative to median

Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date

14
Avg Surprise 15.6%
Next Report Nov 03, 2026
PeriodReportEPS ActualEPS EstSurprise
June 30, 2026 Aug 12, 2026 $-0.36 $-0.37 2.0%
March 31, 2026 May 7, 2026 $-0.24 $-0.32 25.3%
Dec. 31, 2025 $-0.26 $-0.32 17.8%
Sept. 30, 2025 $-0.29 $-0.32 8.3%
June 30, 2025 $-0.20 $-0.27 24.6%
March 31, 2025 $-0.17 — —

Full Fundamentals All metrics by year — income statement, balance sheet, cash flow

15
Income Statement 14
Metric Trend 202520242023202220212020
Revenue $350.0K$0$0$700.0K$1M$0
Cost of Revenue $539.0K$0$0$12M$2M$0
R&D Expense $45M$32M$28M$21M$29M$26M
SG&A Expense $32M$24M$16M$14M$19M$16M
Operating Expenses $77M$56M$44M$59M$64M$50M
Operating Income $-77M$-56M$-44M$-58M$-63M$-50M
Interest Income ·····$114.0K
Other Non-op $-52.0K$-18.0K$1M$-448.0K$-646.0K$114.0K
Pretax Income $73M$54M$-42M$-59M$-64M$-50M
Income Tax $0$0$0$0$0$0
Net Income $-73M$-54M$-42M$-59M$-64M$-50M
EPS (Basic) $-1.08$-0.92$-0.85$-1.72$-2.28$-2.14
Shares (Basic) 67,395,33958,397,59749,737,00033,935,00027,964,00023,248,000
EBITDA ··$-44M$-58M$-63M$-50M
Balance Sheet 26
Metric Trend 202520242023202220212020
Cash & Equivalents $81M$118M$44M$61M$44M$12M
Short-term Investments ·····$8M
Receivables $274.0K$0·$0$61.0K·
Inventory $136.0K$0·$0$6M·
Prepaid Expense $2M$1M$963.0K$1M$963.0K$2M
Current Assets $83M$119M$45M$62M$45M$22M
PP&E (Net) $1M$1M$2M$2M$2M$2M
PP&E (Gross) $5M$5M$5M$5M$5M$4M
Accum. Depreciation $4M$4M$3M$3M$2M$2M
Goodwill $3M$3M$3M$3M$3M$3M
Intangibles $575.0K$1M$2M$3M$2M$4M
Other Non-current Assets $691.0K$677.0K$365.0K$365.0K$365.0K$365.0K
Total Assets $95M$132M$59M$78M$59M$41M
Accounts Payable $3M$2M$2M$2M$2M$2M
Accrued Liabilities $4M$7M$4M$3M$4M$5M
Short-term Debt ··$0$917.0K$436.0K·
Current Liabilities $8M$10M$7M$6M$7M$8M
Capital Leases $6M$8M$8M$9M$8M$11M
Total Liabilities $14M$18M$15M$80M$15M$18M
Total Debt ··$0$0$436.0K·
Common Stock $68.0K$66.0K$55.0K$37.0K$55.0K$25.0K
Retained Earnings $-463M$-390M$-337M$-295M$-337M$-173M
AOCI ·$0$0$0$0$-1.0K
Stockholders' Equity $81M$115M$44M$-2M$44M$23M
Liabilities + Equity $95M$132M$59M$78M$59M$41M
Shares Outstanding 67,839,68965,925,50355,144,00037,235,00055,144,00025,550,000
Cash Flow 11
Metric Trend 202520242023202220212020
Stock-based Comp $21M$14M$7M$5M$15M$10M
Deferred Tax ··$0$0$0$0
Amort. of Intangibles $665.0K$666.0K$665.0K$665.0K$666.0K$665.0K
Operating Cash Flow $-54M$-36M$-33M$-47M$-54M$-35M
CapEx $315.0K$125.0K$121.0K$401.0K$437.0K$441.0K
Investing Cash Flow $-335.0K$-125.0K$-121.0K$-401.0K$8M$10M
Stock Issued ··$0$15M$57M$29M
Net Stock Activity ··$0$15M$57M·
Financing Cash Flow $17M$110M$16M$80M$63M$31M
Net Change in Cash $-37M$74M$-17M$33M$16M$6M
Free Cash Flow ··$-33M$-47M$-55M$-36M
Profitability 7
Metric Trend 202520242023202220212020
Operating Margin ···-8293.9%-4443.9%-43728.9%
Net Margin ···-8357.9%-4489.4%-43728.9%
Pretax Margin ···-8357.9%-4489.4%-43728.9%
EBITDA Margin ···-8293.9%-4443.9%-43728.9%
ROA ··-61.6%-85.4%-133.3%-119.8%
ROE ··-87.5%-2969.0%-153.3%-179.3%
ROIC ··-98.2%2582.6%··
Liquidity & Solvency 3
Metric Trend 202520242023202220212020
Current Ratio ··6.810.44.32.9
Quick Ratio ··6.610.23.42.7
Debt / Equity ··0.00.00.0·
Efficiency 3
Metric Trend 202520242023202220212020
Asset Turnover ··0.00.00.00.0
Inventory Turnover ···4.10.2·
Receivables Turnover ···23.046.5·
Per Share 2
Metric Trend 202520242023202220212020
Book Value / Share ··$0.80$-0.06$1.20$0.90
Cash / Share ··$0.80$1.64$0.96$0.49
Growth Rates 2
Metric Trend 202520242023202220212020
Revenue YoY ···-50.6%··
Revenue CAGR 3Y -20.6%·····
Valuation (TTM) 12
Metric Trend 202520242023202220212020
Revenue TTM $350.0K$0$0$700.0K$1M$0
Net Income TTM $-73M$-54M$-42M$-59M$-64M$-50M
Market Cap ··$675M$103M$440M$610M
Enterprise Value ··$631M$42M$412M·
P/S ···147.3310.4·
P/B ··15.2-45.912.326.6
P / Tangible Book 12.110.417.0·11.137.6
P / Cash Flow ··-20.4-2.2-8.1-17.2
P / FCF ··-20.4-2.2-8.1-17.0
EV / EBITDA ··-14.5-0.7-6.5·
EV / FCF ··-19.0-0.9-7.6·
EV / Revenue ···60.0290.5·

Most recent period on the left · null values shown as ·

Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years

16
Metric 2025-12-312024-12-312023-12-312022-12-312021-12-31
Revenue $350.0K $0 $0 $700.0K $1M
Operating Margin % · · · -8293.9% -4443.9%
Net Income $-73M $-54M $-42M $-59M $-64M

Institutional owners (13F) 112 filers · $293.8M total · As of June 30, 2026

17

Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.

Holders 112
Value held $293.8M
New positions 19
Exited positions 9
Institutional activity — Q2 2026 vs prior quarter
New positions Exited positions Increased Decreased Net shares change
19 (-15 vs prior Q) 9 (-3 vs prior Q) 46 (+18 vs prior Q) 22 (-2 vs prior Q) +2.9M

Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.

Institution Value Shares % of tracked 13F Type
BlackRock, Inc. $40,671,646 1,466,702 13.84% Shares
BANK OF AMERICA CORP /DE/ $40,114,523 1,446,611 13.65% Shares
VANGUARD CAPITAL MANAGEMENT LLC $21,868,987 788,640 7.44% Shares
Portolan Capital Management, LLC $20,889,924 753,333 7.11% Shares
Balyasny Asset Management L.P. $19,908,670 717,947 6.78% Shares
CITADEL ADVISORS LLC $17,373,233 626,514 5.91% Shares
VANGUARD GROUP INC $15,360,341 1,118,743 5.23% Shares
GEODE CAPITAL MANAGEMENT, LLC $14,873,582 536,276 5.06% Shares
STATE STREET CORP $14,686,474 529,624 5.00% Shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ $12,831,614 462,734 4.37% Shares
UBS Group AG $7,644,302 275,669 2.60% Shares
GRIFFIN ASSET MANAGEMENT, INC. $6,302,613 227,285 2.15% Shares
VANGUARD PORTFOLIO MANAGEMENT LLC $4,977,452 179,497 1.69% Shares
NORTHERN TRUST CORP $4,813,651 173,590 1.64% Shares
CHARLES SCHWAB INVESTMENT MANAGEMENT INC $4,214,710 151,991 1.43% Shares
VANGUARD FIDUCIARY TRUST CO $3,639,646 131,253 1.24% Shares
Point72 Asset Management, L.P. $2,952,053 106,457 1.00% Shares
NORGES BANK $2,929,591 105,647 1.00% Shares
Nuveen, LLC $2,819,670 101,683 0.96% Shares
Panoramic Capital, LLC $2,719,037 98,054 0.93% Shares
D. E. Shaw & Co., Inc. $2,268,813 81,818 0.77% Shares
Westside Investment Management, Inc. $2,156,505 77,768 0.73% Shares
WELLINGTON MANAGEMENT GROUP LLP $2,071,875 74,716 0.71% Shares
SECTORAL ASSET MANAGEMENT INC $1,882,728 67,895 0.64% Shares
Bank of New York Mellon Corp $1,195,554 43,114 0.41% Shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP $987,188 35,600 0.34% Call option
GOLDMAN SACHS GROUP INC $953,330 34,379 0.32% Shares
Swiss National Bank $945,593 34,100 0.32% Shares
MORGAN STANLEY $887,221 31,995 0.30% Shares
MANGROVE PARTNERS IM, LLC $848,871 30,612 0.29% Shares
FORMULA GROWTH LTD $831,900 30,000 0.28% Shares
Argo Wealth Advisory, LLC $780,766 28,156 0.27% Shares
TIAA-CREF INDIVIDUAL & INSTITUTIONAL SERVICES, LLC $756,974 27,298 0.26% Shares
Pandora Wealth, Inc. $706,436 51,452 0.24% Shares
DEUTSCHE BANK AG\ $687,316 24,786 0.23% Shares
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC $686,994 31,820 0.23% Shares
RHUMBLINE ADVISERS $658,382 23,743 0.22% Shares
ALLSTATE CORP $652,459 23,529 0.22% Shares
MILLENNIUM MANAGEMENT LLC $651,322 23,488 0.22% Shares
WELLS FARGO & COMPANY/MN $598,413 21,580 0.20% Shares
WealthTrust Axiom LLC $596,195 21,500 0.20% Shares
Creative Planning $583,439 21,040 0.20% Shares
CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM $567,883 20,479 0.19% Shares
CITADEL ADVISORS LLC $532,416 19,200 0.18% Call option
DIKER MANAGEMENT LLC $527,000 19,000 0.18% Shares
Inspire Investing, LLC $524,076 24,274 0.18% Shares
Cetera Investment Advisers $496,755 17,914 0.17% Shares
CITADEL ADVISORS LLC $463,091 16,700 0.16% Put option
ALLIANCEBERNSTEIN L.P. $449,072 20,800 0.15% Shares
RAYMOND JAMES FINANCIAL INC $423,714 15,280 0.14% Shares

Show all 112 institutional owners →

Activists & 5%+ owners 3 positions

18

Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.

Filer Filed Stake Status Purpose Filing
ROBERT W. DUGGAN, GENIUS 24C INC, BLAZON CORPORATION ×18 filings May 13, 2026 71.90% Amendment · SEC
Christopher A. Marlett 2) ×2 filings Feb. 26, 2018 · Initial filing · SEC
Christopher Marlett 2) June 1, 2016 · Initial filing Passive investment SEC

Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.

Company insiders 23 insiders · 9 officers · 13 directors

19
Insider Role Last activity Shares owned Buys 12m Sells 12m Net 12m
Paul A Laviolette Chief Executive Officer May 11, 2026 P 15,846 2 0 $590,700
Jon Skinner Chief Financial Officer Feb. 3, 2025 A · 0 0 $0
Brian B Dow CFO & SVP Admin. and Finance May 16, 2017 A · 0 0 $0
Liane Rae Teplitsky Chief Operating Officer Sept. 1, 2026 P 4,095 4 0 $199,942
Darrin Uecker Chief Technology Officer March 23, 2026 A 284,406 0 0 $0
Kevin Patrick Danahy Chief Commercial Officer Feb. 18, 2026 M 43,298 0 8 $-3,017,438
Steven Weber Principal Accounting Officer July 14, 2025 A · 0 0 $0
Mitchell E. Levinson Chief Strategy Officer Sept. 24, 2024 X 8,521 0 0 $0
Ed Ebbers EVP & GM, Dermatology June 1, 2021 F 39,300 0 0 $0
Manmeet Singh Soni Director June 11, 2026 A · 0 0 $0
Mahkam Zanganeh Director June 11, 2026 A 725,395 0 0 $0
Maria Sainz Director June 11, 2026 A · 0 0 $0
Richard Van Den Broek Director June 11, 2026 A · 0 0 $0
Robert W. Duggan Director June 11, 2026 A 48,370,047 2 0 $25,999,976
Shelley D Spray Director May 25, 2023 A · 0 0 $0
Kenneth A Clark Director May 20, 2021 A · 0 0 $0
Thomas J M D Fogarty Director May 16, 2019 A · 0 0 $0
Thierry B. Thaure Director May 16, 2017 A 0 0 0 $0
Robert J. Greenberg Director May 16, 2017 A 0 0 0 $0
Robert Levande Director May 16, 2017 A · 0 0 $0
Burke Thomas Barrett · Dec. 11, 2024 S 63,172 0 0 $0
Sandra A. Gardiner · Dec. 14, 2021 A · 0 0 $0
Laureen Debuono · Oct. 4, 2021 A · 0 0 $0

Insiders from SEC Form 3/4/5 filings; net = open-market P/S only

ETF ownership Held by 19 ETFs

20

Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.

Fund Weight Units As of Source
PTH · Invesco Exchange-Traded Fund Trust 1.06% 61,521 SH Oct. 2, 2026 Daily
DWAS · Invesco Exchange-Traded Fund Trust … 0.37% 30,012 SH Oct. 2, 2026 Daily
IWC · iShares Trust 0.24% 62,965 SH Sept. 11, 2026 Daily
ESSC · Strategy Shares 0.15% 1,567 NS July 31, 2026 N-PORT
IWO · iShares Trust 0.07% 174,265 SH Sept. 11, 2026 Daily
IWM · iShares Trust 0.03% 478,291 SH Sept. 11, 2026 Daily
VTWG · VANGUARD SCOTTSDALE FUNDS 0.03% 19,901 SH Aug. 19, 2026 Daily
RSSL · Global X Funds 0.02% 8,873 NS July 31, 2026 N-PORT
VTWO · VANGUARD SCOTTSDALE FUNDS 0.02% 106,789 SH Aug. 19, 2026 Daily
WSML · iShares Trust 0.01% 1,388 SH Sept. 11, 2026 Daily
VXF · VANGUARD INDEX FUNDS 0.01% 215,812 SH Aug. 19, 2026 Daily
VHT · VANGUARD WORLD FUND 0.01% 51,170 SH Aug. 19, 2026 Daily
FHLC · FIDELITY COVINGTON TRUST 0.01% 8,079 NS July 31, 2026 N-PORT
IWV · iShares Trust 0.00% 9,573 SH Sept. 11, 2026 Daily
ITOT · iShares Trust 0.00% 39,239 SH Sept. 11, 2026 Daily
VTI · VANGUARD INDEX FUNDS 0.00% 554,612 SH Aug. 19, 2026 Daily
VTHR · VANGUARD SCOTTSDALE FUNDS 0.00% 1,637 SH Aug. 19, 2026 Daily
ISCB · iShares Trust · 817 SH Sept. 11, 2026 Daily
ISCV · iShares Trust · 4,024 SH Sept. 11, 2026 Daily

PLSE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside

21
rating · 10 analysts BUY
Median target $51.50 +7.5%
3 30.0% Strong Buy
6 60.0% Buy
1 10.0% Hold
0 0.0% Sell
0 0.0% Strong Sell

12-Month Price Target

6 analysts · 2026-10-03

Mean target $54.00 +12.7%

Now Current price $47.90
Low$35.00 Mean$54.00 High$73.00

Peer comparison (GICS sub-industry) Key metrics vs sector peers

22

FY basis, prices as of each company's last fiscal year-end close.

Ticker Market Cap P/E Rev YoY Net Margin ROE Gross Margin
PLSE · · · · · ·
ITGR $2.69B 27.1 8.0% 5.5% 6.0% 27.0%
NVST $3.56B 77.5 8.3% 1.7% 1.5% 54.7%
IRTC $5.73B -127.7 26.2% -6.0% -34.8% 70.6%
ASST · -0.1 1217.5% · · ·
CHRN $2.67B -51.0 -15.1% -70.3% -53.2% ·
ATRC $1.97B -164.8 14.9% -2.1% -2.4% 75.0%
TMDX $4.17B 25.0 37.1% 31.4% 48.1% 59.9%
BFLY · -12.3 19.0% -79.0% -35.9% 46.9%
AXGN $1.54B -96.3 20.2% -7.0% -13.0% 74.3%
ABT $250.18B 33.7 5.7% 14.7% 13.1% ·

Latest News Recent headlines mentioning this company

23
Pulse Biosciences CEO Bought 15,000 Company Shares. Here's What That Means for Investors. Yahoo Finance · 4 months, 2 weeks ago Pulse Biosciences (PLSE) Enrolls Its First Patients in a Pivotal Atrial Fibrillation Trial Yahoo Finance · 5 months, 1 week ago Pulse Biosciences Appoints Liane Teplitsky CCO, Expands David Kenigsberg Role As Full Time CMO Nasdaq · 5 months, 3 weeks ago

My Metrics Your personal watchlist — selected rows from Full Fundamentals

26

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Source: SEC 10-Q filed Aug 6, 2026