Q4 2025 Pulse Biosciences Inc Earnings Call Transcript

Feb 19, 2026 / 09:30 PM GMT

Release Date Price: $25.08 (-1.49%)

Transcript 8-K10-K

Key Points

Positve

Pulse Biosciences Inc (PLSE) has developed a pulsed field ablation platform, NSPFA, which offers incredible precision and operates at blisteringly fast speeds.
The company has built a strong intellectual property portfolio with 250 granted patents and 180 pending, adding significant protection to their innovations.
Significant progress was made in 2025, including securing IDE approvals for both electrophysiology catheter and cardiac surgical plant programs.
The company reported outstanding clinical results with 100% procedural success at 6 months and 96% at 1 year for atrial fibrillation treatment.
Pulse Biosciences Inc (PLSE) maintains a strong balance sheet, enabling continued execution on clinical priorities in 2026.

Negative

The company reported a GAAP net loss of $17.4 million in Q4 2025, indicating ongoing financial challenges.
Cash and cash equivalents decreased significantly from $118 million in 2024 to $80.7 million by the end of 2025.
The company is still in the process of gaining FDA therapeutic clearances, which are essential for significant revenue growth.
There is a lack of reimbursement certainty for the Vibrance platform, which could delay broader commercialization.
The company anticipates needing additional funding, potentially through partnerships or distribution agreements, to support future growth.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PLSE.OQ - Pulse Biosciences Inc
Q4 2025 Pulse Biosciences Inc Earnings Call
Feb 19, 2026 / 09:30PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by. My name is Colby, and I'll be your conference operator today. At this time, I would like to welcome you to the Pulse Biosciences Q4 in full year 2025 earnings call.

All lines have been placed on mute to prevent any background noise, and after the speaker's remarks, there will be a question-and-answer session.

If you would like to ask a question at that time, please press star, then the number 1 on your telephone keypad to raise your hand and enter the queue.

If you'd like to withdraw your question at any time, simply press 1 again.

I will now turn the call over to Trip Taylor. You may begin.

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