PULSE BIOSCIENCES Business Summary

Pulse Biosciences, Inc. is a bioelectric medicine company commercializing its proprietary Nanosecond Pulsed Field Ablation (nsPFA) technology, branded as Cell-FX. The company utilizes a razor-and-blade revenue model, generating income through the sale of Cell-FX System consoles and recurring, high-margin revenue from single-use disposable electrodes and cardiac catheters. Its primary business segments are currently focused on cardiac surgical ablation for atrial fibrillation (AFib) and percutaneous soft tissue ablation, including benign thyroid nodules. Pulse Biosciences competes in the rapidly evolving Pulsed Field Ablation (PFA) market against major incumbents such as Medtronic, Boston Scientific, Johnson & Johnson, and Abbott Laboratories. The company differentiates itself by utilizing nanosecond-duration pulses—significantly shorter than the microsecond pulses used by competitors—to achieve ultra-precise, non-thermal cellular destruction that preserves the extracellular matrix and critical non-cellular structures. The leadership team is led by CEO and Co-Chairman Paul A. LaViolette, who was appointed in January 2025 and brings over 40 years of medical technology experience, including a 15-year tenure at Boston Scientific as COO. He serves alongside Co-Chairman Robert W. Duggan, a billionaire healthcare entrepreneur and the company’s largest shareholder, known for his success as CEO of Pharmacyclics. The executive suite is further supported by CFO Jon Skinner, appointed in February 2025, and CTO Darrin R. Uecker, a co-inventor of the nsPFA platform. In January 2026, the company strengthened its board with the appointment of Maria Sainz, current CEO of Hyperfine and a veteran of the cardiac surgery industry. This leadership group, characterized by a deep pedigree in large-scale medical device commercialization and successful exits, is focused on transitioning Pulse Biosciences from a clinical-stage innovator into a dominant player in the global electrophysiology market.