TLSI

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TriSalus Life Sciences, Inc.

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Key Metrics

Previous Close: $5.49
52-Week Range: $2.20 – $7.95
Market Cap: $322.04M
P/E (TTM): —
EPS (TTM): -1.27
Dividend Yield: —

Advanced Metrics

Price/Book: 48.88
PEG Ratio: —
Return on Equity: —
Return on Assets: -36.75%
Gross Margin: 85.79%
Operating Margin: -86.03%
Profit Margin: -62.59%
Current Ratio: 5.35
Debt/Equity: 5.26
Total Debt: $34.43M
Free Cash Flow: $-10.88M
Revenue Growth: 1.70%
Earnings Growth: —
Enterprise Value: $310.17M

TLSI Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$12.40M	$18.51M	$29.43M	$45.15M
Cost of Revenue	$2.26M	$2.60M	$4.10M	$6.96M
Gross Profit	$10.14M	$15.91M	$25.33M	$38.19M
Research & Development	$21.36M	$29.84M	$17.69M	$14.96M
Selling, General & Admin	$25.22M	$40.55M	$43.80M	$50.17M
Operating Expenses	$46.58M	$70.38M	$61.49M	$65.13M
Operating Income	-$36.44M	-$54.48M	-$36.16M	-$26.95M
EBITDA	-$46.78M	-$58.65M	-$26.20M	-$33.05M
Pretax Income	-$47.18M	-$59.35M	-$30.04M	-$39.22M
Income Tax	$9.00K	$9.00K	$6.00K	$7.00K
Net Income	-$47.19M	-$59.36M	-$30.05M	-$39.23M
Diluted EPS	-161.55	-6.73	-1.31	-1.84
Diluted Shares	309609	9.40M	25.33M	37.90M

TLSI Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$9.41M	$11.78M	$8.53M	$20.44M
Receivables	$1.56M	$3.55M	$5.09M	$6.56M
Inventory	$1.47M	$2.54M	$4.05M	$3.08M
Current Assets	$17.21M	$20.86M	$20.67M	$32.24M
Total Assets	$22.00M	$24.60M	$23.97M	$35.33M
Current Liabilities	$32.36M	$14.69M	$10.23M	$11.50M
Long-Term Debt	—	—	$22.08M	$33.05M
Total Debt	$1.96M	$1.59M	$23.63M	$34.44M
Total Liabilities	$198.32M	$51.66M	$49.87M	$69.19M
Retained Earnings	-$186.36M	-$249.50M	-$279.55M	-$330.58M
Shareholders' Equity	-$176.33M	-$27.07M	-$25.89M	-$33.86M
Working Capital	-$15.14M	$6.17M	$10.44M	$20.75M
Net Debt	—	—	$13.56M	$12.61M

TLSI Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$32.31M	-$50.58M	-$40.84M	-$18.01M
Capital Expenditure	-$786.00K	-$588.00K	-$345.00K	-$918.00K
Free Cash Flow	-$33.10M	-$51.17M	-$41.19M	-$18.93M
Depreciation & Amortisation	$398.00K	$684.00K	$744.00K	$626.00K
Stock-Based Compensation	$368.00K	$1.40M	$5.44M	$9.13M
Investing Cash Flow	-$1.79M	-$1.59M	-$345.00K	-$838.00K
Financing Cash Flow	$13.46M	$54.63M	$37.94M	$30.76M
Net Change in Cash	-$20.64M	$2.46M	-$3.25M	$11.91M

TLSI Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$9.17M	$11.21M	$11.57M	$13.21M	$8.90M
Cost of Revenue	$1.50M	$1.80M	$1.91M	$1.76M	$1.23M
Gross Profit	$7.67M	$9.41M	$9.66M	$11.44M	$7.67M
Research & Development	$3.02M	$3.92M	$5.18M	$2.57M	$3.22M
Selling, General & Admin	$11.98M	$12.82M	$13.50M	$12.14M	$12.86M
Operating Expenses	$15.00M	$16.74M	$18.67M	$14.71M	$16.08M
Operating Income	-$7.33M	-$7.33M	-$9.01M	-$3.27M	-$8.41M
EBITDA	-$8.99M	-$6.70M	-$9.18M	-$8.18M	$3.11M
Pretax Income	-$10.37M	-$8.29M	-$10.81M	-$9.75M	$1.54M
Income Tax	$5.00K	-$3.00K	$5.00K	$0.00	$4.00K
Net Income	-$10.38M	-$8.29M	-$10.81M	-$9.75M	$1.54M
Diluted EPS	-0.39	-0.27	-0.96	-0.21	0.03
Diluted Shares	28.53M	32.90M	43.06M	46.84M	52.31M

TLSI Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$13.00M	$26.49M	$22.69M	$20.44M	$56.55M
Receivables	$5.45M	$5.57M	$5.00M	$6.56M	$5.21M
Inventory	$4.16M	$3.81M	$3.28M	$3.08M	$3.78M
Current Assets	$25.10M	$38.08M	$33.33M	$32.24M	$68.14M
Total Assets	$28.63M	$41.32M	$36.46M	$35.33M	$70.98M
Current Liabilities	$11.75M	$9.32M	$10.91M	$11.50M	$11.79M
Long-Term Debt	$31.70M	$32.27M	$32.76M	$33.05M	$33.08M
Total Debt	$33.12M	$33.66M	$34.12M	$34.44M	$34.49M
Total Liabilities	$62.99M	$60.74M	$63.19M	$69.19M	$58.17M
Retained Earnings	-$289.92M	-$298.21M	-$320.97M	-$330.58M	-$329.04M
Shareholders' Equity	-$34.37M	-$19.42M	-$26.73M	-$33.86M	$12.81M
Working Capital	$13.34M	$28.76M	$22.42M	$20.75M	$56.35M
Net Debt	$18.70M	$5.78M	$10.08M	$12.61M	—

TLSI Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$4.50M	-$7.32M	-$3.71M	-$2.48M	-$6.48M
Capital Expenditure	-$754.00K	—	-$216.00K	-$41.00K	-$141.00K
Free Cash Flow	-$5.25M	-$7.23M	-$3.92M	-$2.52M	-$6.62M
Depreciation & Amortisation	$172.00K	$165.00K	$163.00K	$126.00K	$135.00K
Stock-Based Compensation	$1.62M	$1.89M	$3.42M	$2.20M	$2.47M
Investing Cash Flow	-$714.00K	$93.00K	-$176.00K	-$41.00K	-$141.00K
Financing Cash Flow	$9.69M	$20.72M	$82.00K	$277.00K	$42.38M
Net Change in Cash	$4.47M	$13.49M	-$3.80M	-$2.25M	$35.76M

Market Snapshot

About

TriSalus Life Sciences, Inc. is a medical technology company developing innovative interventional oncology devices and therapies. The company focuses on pressure-enabled drug delivery systems designed to improve outcomes for liver cancer patients.