PULSE BIOSCIENCES, INC. Q1 FY2025 earnings call

• Pulse Biosciences made strong progress in Q1, with updates on market programs. - Soft tissue ablation percutaneous electrode: Over 90 patients treated in pilot program, plan to finish IRB approvals and enroll in Q3, with commercial use expected in H2 2025. - Surgical ablation clamp: EU approval to expand first-in-human feasibility study to 60 patients, expect preliminary trial results in late 2025. - 360 catheter system for AF ablation: Early data shows potential, 100 patients treated in European study, shared positive results at meetings, plan to initiate IDE pivotal trial midyear.

In the first quarter of 2025, total GAAP costs and expenses increased to $18 million from $10.6 million in the prior year period. Non-GAAP costs and expenses rose to $12.7 million from $8.6 million. GAAP net loss was $16.8 million vs. $10.1 million prior year. Non-GAAP net loss was $11.4 million vs. $8.1 million. Cash and cash equivalents totaled $119.3 million as of March 31, 2025, up from $34.9 million in 2024. Cash used in operating activities was $13.5 million in Q1 2025, offset by $14.1 million from warrant exercises. No detailed revenue contribution percentages by segment are provided.

• Plan to initiate commercialization of percutaneous electrode for soft tissue ablation in benign thyroid disease in 2025. - Aim to initiate IDE pivotal studies for Cardiac 360 catheter and cardiac surgical clamp. - Expect to share preliminary results of surgical clamp trial in late 2025. - Intend to advance formal IDE to FDA for 360 catheter pivotal study by midyear and commence enrollment soon.

No specific risks discussed in detail during the call; mentions that actual results may differ from forward-looking statements due to risks and uncertainties described in press release and SEC filings.

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