Pulsenmore Announces Full Year 2025 Financial Results and Webcast
Management to Host Conference Call and Webcast today at 8:30am ET to Discuss Results and Provide Business Update
OMER, Israel, March 30, 2026 /PRNewswire/ – Pulsenmore Ltd. (NASDAQ: PLSM) (TASE: PLSM), a pioneer in home ultrasound technology, today announced financial results for the full year ended December 31, 2025.
Full-Year 2025 Financial Highlights
Operational Highlights
"2025 was a transformative year for Pulsenmore as we advanced from regulatory achievement to commercial execution," said Dr. Elazar Sonnenschein, CEO and Founder of Pulsenmore. "Following our FDA De Novo authorization and Nasdaq listing, we focused on scaling our U.S. infrastructure, expanding clinical partnerships, and strengthening our operational capabilities to support long-term growth.
We are seeing encouraging validation from providers and health systems who recognize the value of remote, clinician-directed ultrasound as part of modern prenatal care. As we enter 2026, our focus remains on accelerating commercial momentum, increasing utilization, strengthening recurring revenue streams while maintaining disciplined investment. We believe the progress achieved in 2025 positions Pulsenmore to execute on a significant market opportunity in remote prenatal diagnostics."
Financial Highlights for Full Year Ended December 31, 2025 Revenues for the year ended December 31, 2025 were $12.5 million, compared to approximately $2.6 million for the year ended December 31, 2024. Revenues were primarily contributed by a $9.6 million one-time payment related to the GE settlement.
Cost of Revenues was $2.0 million for the year ended December 31, 2025, compared to $1.7 million for the year ended December 31, 2024. The increase primarily reflects higher revenues from both core operations and the one-time settlement, partially offset by improved operational efficiency.
Gross Profit was $10.5 million for the year ended December 31, 2025, compared to gross profit of $0.98 million for the year ended December 31, 2024, reflecting a gross margin of approximately 84% in 2025, up from 37% in 2024.
Operating expenses were $14.4 million for the year ended December 31, 2025, compared to $12.6 million for the year ended December 31, 2024. The increase was primarily driven by investments in scaling U.S. infrastructure, expanding clinical partnerships, and strengthening operational capabilities.
Net loss was $5 million for the year ended December 31, 2025, compared to $10 million for the year ended December 31, 2024, representing a 50% improvement year-over-year.
Total liquid assets as of December 31, 2025 was approximately $21.7 million.
Webcast Details
Pulsenmore will host a webcast to review the full year 2025 results today on March 30th at 8:30 am Eastern Time / 3:30 p.m. Israel Time.
Webcast: https://teams.microsoft.com/meet/3845461353556?p=fcIpXc4mErwEAqo3Ir
Replay: The meeting will be recorded, and the recording will be made available following the meeting on the Company's Investor Relations website at: https://pulsenmore.com/investor_relations
A copy of Pulsenmore's annual report on Form 20-F for the year ended December 31, 2025 has been filed with the U.S. Securities and Exchange Commission at https://www.sec.gov/ and posted on Pulsenmore's investor relations website at https://pulsenmore.com/investor_relations/. Pulsenmore will deliver a hard copy of its annual report, including its complete audited consolidated financial statements, free of charge, to its shareholders upon request at [email protected].
About Pulsenmore
Pulsenmore Ltd. is dedicated to revolutionizing maternal health through the development of home-use ultrasound technology that connect mothers and healthcare providers remotely. By leveraging advanced imaging and telemedicine, Pulsenmore makes prenatal care patient-centric, expanding access and improving continuity of care. For more information, visit www.pulsenmore.com
This press release contains forward-looking statements. In particular, statements using words such as "may," "seek," "will," "consider," "likely," "assume," "estimate," "expect," "anticipate," "intend," "believe," "contemplate," "do not believe," "aim," "goal," "due," "predict," "plan," "project," "continue," "potential," "positioned," "guidance," "objective," "outlook," "trends," "future," "could," "would," "should," "target," "on track" or their negatives or variations, and similar terminology and words of similar import, generally involve future or forward-looking statements. Such forward-looking statements include, but are not limited to, statements relating to Pulsenmore's continued commercial momentum, clinician adoption expansion, strengthening its presence in the U.S. market following its Nasdaq listing and FDA De Novo authorization, accelerating commercial momentum, increasing utilization, strengthening recurring revenue streams while maintaining disciplined investment and its belief that the progress achieved in 2025 positions it to execute on a significant market opportunity in remote prenatal diagnostics. Forward-looking statements reflect Pulsenmore's current views, plans, or expectations with respect to future events or financial performance. They are inherently subject to significant business, economic, competitive, and other risks, uncertainties, and contingencies. Forward-looking statements are based on Pulsenmore's current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including, but not limited to, the following: the Company's lack of operating history; the Company's current and future capital requirements and the Company's belief that its existing cash will be sufficient to fund its operations for more than one year from the date that the financial statements are issued; the Company's ability to manufacture, market and sell its products and to generate revenues; the Company's ability to maintain its relationships with key partners and grow relationships with new partners; the Company's ability to maintain or protect the validity of its U.S. and other patents and other intellectual property; the Company's ability to launch and penetrate markets in new locations and new market segments; the Company's ability to retain key executive members and hire additional personnel; the Company's ability to maintain and expand intellectual property rights; interpretations of current laws and the passages of future laws; the Company's ability to achieve greater regulatory compliance needed in existing and new markets; the Company's ability to achieve key performance milestones in its planned operational testing; the Company's ability to establish adequate sales, marketing and distribution channels; security, political and economic instability in the Middle East that could harm its business; and acceptance of the Company's business model by investors. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a more detailed description of the risks and uncertainties affecting the Company, reference is made to the Company's reports filed from time to time with the SEC, including, but not limited to, the risks, uncertainties and other factors included in the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2025 and in subsequent filings with the SEC. The inclusion of forward-looking statements in this or any other communication should not be considered as a representation by Pulsenmore or any other person that current plans or expectations will be achieved. Forward-looking statements speak only as of the date on which they are made, and Pulsenmore undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments, or otherwise, except as otherwise required by law.
Investor Contact:
Miri Segal-Scharia
MS-IR LLC
[email protected]
PULSENMORE LTD.
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
December 31,
2024
2025
2025
NIS in thousands
USD in thousands
Assets
CURRENT ASSETS
Cash and cash equivalents
41,170
21,604
6,773
Short-term bank deposits
62,853
47,531
14,900
Restricted deposits
140
140
44
Trade receivables
3,909
4,144
1,300
Other receivables
1,237
1,391
436
Inventory – current portion
23,092
6,593
2,067
Total current assets
132,401
81,403
25,520
NON-CURRENT ASSETS
Inventory – non-current portion
-
13,337
4,181
Right-of-use assets
1,780
1,285
403
Property and equipment, net
7,645
5,822
1,825
Total non-current assets
9,425
20,444
6,409
Total assets
141,826
101,847
31,929
Liabilities and equity
CURRENT LIABILITIES
Trade payables
2,359
1,980
621
Other payables and accruals
3,780
4,407
1,382
Contract liabilities
5,133
938
294
Share-based compensation liability
1,458
276
87
Current maturities of liability for royalties
to the Israel Innovation Authority
532
1,705
534
Current maturities of lease liabilities
999
1,023
321
Total current liabilities
14,261
10,329
3,239
NON-CURRENT LIABILITIES
Contract liabilities
22,897
-
-
Share-based compensation liability, net of
current maturities
164
-
-
Liability for royalties to the Israel
Innovation Authority, net of current
maturities
6,497
7,886
2,472
Lease liabilities, net of current maturities
1,120
542
170
Total non-current liabilities
30,678
8,428
2,642
Total liabilities
44,939
18,757
5,881
EQUITY
Ordinary shares
2
2
1
Share premium
253,205
256,137
80,294
Capital reserve
10,968
10,092
3,164
Accumulated deficit
(167,288)
(183,141)
(57,411)
Total equity
96,887
83,090
26,048
Total liabilities and equity
141,826
101,847
31,929
All share and per share amounts have been retroactively adjusted to reflect a 1-for-8 reverse share split as discussed
in Note 1(b)
The accompanying notes are an integral part of the consolidated financial
statements.
PULSENMORE LTD.
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
December 31,
2024
2025
2025
NIS in thousands
USD in thousands
Revenues
9,661
9,484
2,973
Revenues from settlement agreement
with GEHC (*)
-
30,540
9,574
Total revenues
9,661
40,024
12,547
Cost of revenues
6,084
6,342
1,988
Gross profit
3,577
33,682
10,559
Research and development expenses, net
20,130
17,350
5,439
Sales and marketing expenses
10,318
11,815
3,704
General and administrative expenses
15,344
16,681
5,230
Operating loss
42,215
12,164
3,814
Financial expenses
540
7,225
2,265
Financial income
(5,963)
(3,537)
(1,109)
Financial expenses (income), net
(5,423)
3,688
1,156
Loss before income tax
36,792
15,852
4,970
Provision (benefit) for income tax
(56)
1
**
Net loss and comprehensive loss
36,736
15,853
4,970
Loss per ordinary share – basic and
diluted
5.76
2.46
0.77
* Including an amount of NIS 7.1 million (approximately $2.2 million) was recognized as revenues from the (1)
cancellation of orders placed by GEHC to the Company for 15,000 units Pursuant to the Settlement Agreement and
(2) due to the termination of the Component Agreement.
** Less than $1 thousand
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SOURCE Pulsenmore Ltd.