Pulse Biosciences is a clinical-stage medical device company built around a single proprietary technology: Nanosecond Pulsed-Field Ablation (nsPFA), which destroys targeted cells using extremely short bursts of electrical energy without generating heat. This nonthermal mechanism is the core differentiator from conventional ablation technologies that use heat or cold. Pulse Biosciences is pursuing three clinical applications: benign thyroid nodule (BTN) ablation, surgical cardiac ablation for atrial fibrillation (AF), and catheter-based cardiac ablation for AF. The only commercialized product is the Vybrance Percutaneous Electrode System, which received FDA 510(k) clearance in March 2024 for soft tissue ablation and generated its first commercial revenue in Q3 2025. The two cardiac devices — a surgical clamp and the nPulse 360 Catheter — are both in FDA-approved pivotal trials and remain pre-revenue. Pulse Biosciences operates a capital equipment and disposables model: hospitals and ambulatory surgery centers buy the reusable nPulse Console, then purchase single-use applicators per procedure. The company is building a direct salesforce for the thyroid market, while management intends to partner with an established electrophysiology company to commercialize the 360 Catheter, given the scale and competitive intensity of that market. Pulse Biosciences frames nsPFA as a platform technology with potential applications beyond thyroid and cardiac, though no other indications are active regulatory priorities.