Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | — | — | — | — | $0.00 | $1.42M | $700K | $0.00 | $0.00 | $350K |
| Revenue growth | — | — | — | — | — | — | -50.6% | -100.0% | — | — |
| Operating income | -$9.52M | -$25.6M | -$37.5M | -$48.0M | -$50.0M | -$63.0M | -$58.1M | -$43.6M | -$56.3M | -$76.9M |
| Operating margin | — | — | — | — | — | -4443.9% | -8293.9% | — | — | -21982.6% |
| Net income | -$9.52M | -$25.6M | -$37.5M | -$47.0M | -$49.9M | -$63.7M | -$58.5M | -$42.2M | -$53.6M | -$72.8M |
| Net margin | — | — | — | — | — | -4489.4% | -8357.9% | — | — | -20794.6% |
| EPS (diluted) | -$0.86 | -$1.73 | -$2.20 | -$2.26 | -$2.14 | -$2.28 | — | — | — | — |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$8.05M | -$11.1M | -$23.9M | -$34.2M | -$35.4M | -$54.1M | -$47.0M | -$33.0M | -$36.3M | -$54.1M |
| Capital expenditures | $64.0K | $2.55M | $276K | $608K | $441K | $437K | $401K | $121K | $125K | $315K |
| Free cash flow | -$8.12M | -$13.6M | -$24.2M | -$34.8M | -$35.8M | -$54.5M | -$47.4M | -$33.2M | -$36.5M | -$54.4M |
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $2.09M | $3.39M | $51.1M | $6.90M | $12.5M | $28.6M | $61.1M | $44.4M | $118M | $80.7M |
| Total assets | $26.3M | $49.8M | $70.6M | $41.9M | $41.3M | $54.2M | $77.9M | $59.2M | $132M | $94.5M |
| Total liabilities | $1.02M | $3.83M | $4.31M | $11.2M | $18.4M | $18.6M | $80.1M | $14.8M | $17.6M | $13.9M |
| Shareholders' equity | $25.3M | $46.0M | $66.3M | $30.7M | $22.9M | $35.7M | -$2.25M | $44.4M | $115M | $80.7M |
| Retained earnings | -$12.6M | -$38.2M | -$75.7M | -$123M | -$173M | -$236M | -$295M | -$337M | -$391M | -$463M |
| Shares (wtd avg diluted) | 13.3M | 16.8M | 20.6M | 20.8M | 23.2M | 28.0M | 33.9M | 49.7M | 58.4M | 67.4M |
Every figure is extracted from PULSE BIOSCIENCES, INC.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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