Pulse Biosciences, Inc. (Nasdaq: PLSE) is a bioelectric medicine company that specializes in the development of its proprietary Nanosecond Pulsed Field Ablation (nsPFA) technology. The company focuses on advancing therapies to treat various medical conditions, including non-invasive treatments for benign thyroid diseases and atrial fibrillation through its nanosecond PFA devices.

For the fourth quarter ended December 31, 2024, Pulse Biosciences reported total GAAP costs and expenses of $20.3 million, an increase of 62% from $12.5 million in the same period of the previous year. This rise was primarily driven by an increase in noncash stock-based compensation, which was $6.8 million in Q4 2024, compared to $3.3 million in Q4 2023. Additionally, GAAP net loss for the fourth quarter was $19.4 million, compared to a net loss of $11.9 million for the same period in 2023. Non-GAAP net loss for Q4 2024 was $10.4 million, compared to $8.3 million the previous year.

During the fourth quarter, Pulse Biosciences raised an additional $47.9 million through the exercise of warrants related to a rights offering completed earlier that year, contributing to a cash and cash equivalents balance of $118 million as of December 31, 2024, compared to $44.4 million a year prior. Cash used in Q4 2024 was $9.3 million, an increase from $6.9 million during the same quarter in 2023.

For the full year of 2024, total GAAP costs and expenses reached $56.3 million, a 29% increase from $43.6 million for the full year of 2023. This increase was attributed to higher stock-based compensation and administrative expenses. GAAP net loss for the full year was $53.6 million compared to $42.2 million in 2023, while non-GAAP net loss was $36.9 million, up from a loss of $33.8 million in the prior year.

Overall, the company continues to show a significant increase in its costs as it expands its operations and product offerings, while it simultaneously enhances its financial position through successful financing activities. The advancements in the development and commercialization of its novel technologies place the company in a promising position for potential growth in the med tech industry.