Short answer
PULSE BIOSCIENCES, INC. (PLSE) filed its Q3 2025 10-Q quarterly report on Nov 5, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $86,000 with net income of −$19M.
Q3 2025 key financials · XBRL
- Revenue
- $86,000
- Net income
- −$19M
- −52.9% YoY · −1.1% QoQ
- Operating margin
- -23682.6%
- EPS (diluted)
- −$0.28
- −27.3% YoY · +3.4% QoQ
Source: XBRL data from the PULSE BIOSCIENCES, INC. (PLSE) Q3 2025 10-Q on SEC EDGAR. USD.
PULSE BIOSCIENCES, INC. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Q3 revenue $86,000 vs $0 YoY, from limited Vybrance commercial sales
- Gross margin negative 224% vs no prior-year revenue, with product costs $279,000
- Operating loss $20.4M vs $13.7M; operating margin negative 23,682% vs not meaningful
- R&D $11.4M, up $3.7M; SG&A $8.8M, up $2.8M
- PRECISE BTN enrollment above 20 patients; completion expected Q1 2026, with FDA catheter study planned Q1 2026
Risk Factors
- Additional capital required to continue operations, with conflicts and rising tariffs making financing more difficult
- Regulatory approval risk for nPulse Cardiac Clamp and nPulse 360° Cardiac Catheter clinical candidates
- Competitive pressure from Abbott, Medtronic, Boston Scientific, and other established PFA developers
- Revenue concentration in the nPulse System and Nano-Pulse Stimulation platform
- Liquidity risk from limited operating revenue and dependence on equity financings or loans
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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