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TriSalus Life Sciences, Inc.(TLSI)Earnings, Financials & Key Ratios
TLSI•NASDAQ
$4.55
$142M mkt cap·Price updated May 6, 2026
AboutTriSalus Life Sciences, Inc., an immunotherapy company that develops and commercializes immunotherapies for the treatment of liver and pancreatic tumors. The company offers the TriNav Infusion System for hepatic arterial infusion of liver tumors; and the Pancreatic Retrograde Venous Infusion System for pancreatic tumors. It also develops SD-101, an investigational immunotherapeutic with pressure-enabled drug delivery technology for hepatocellular carcinoma, intrahepatic cholangiocarcinoma, uveal melanoma with liver metastases, pancreatic ductal adenocarcinoma with liver metastases, colorectal cancer with liver metastases, and primary pancreatic cancers. The company is based in Westminster, Colorado.Show more
- Revenue$45M+53.4%
- EBITDA-$27M+31.3%
- Net Income-$70M-109.7%
- EPS (Diluted)-1.84-47.2%
- Gross Margin84.57%-1.7%
- EBITDA Margin-59.68%+55.2%
- Operating Margin-59.68%+51.4%
- Net Margin-154.35%-36.7%
TLSI Key Insights
TriSalus Life Sciences, Inc. (TLSI) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓Efficient asset utilization: 1.3x turnover
✗Weaknesses
- ✗Negative free cash flow
- ✗Low quality earnings: Net income not backed by cash flow
- ✗Shares diluted 43.0% in last year
- ✗Trading more than 30% below 52-week high
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
TLSI Price & Volume
TriSalus Life Sciences, Inc. (TLSI) stock price & volume — 10-year historical chart
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TLSI Growth Metrics
TriSalus Life Sciences, Inc. (TLSI) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years-
5 Years-
3 Years53.85%
TTM53.41%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-30.5%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-36.57%
Return on Capital
10 Years-284.12%
5 Years-284.12%
3 Years-332.95%
Last Year-143.43%
TLSI Recent Earnings
TriSalus Life Sciences, Inc. (TLSI) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 3/12 qtrs (38%)●Beat Revenue 5/12 qtrs (63%)
Q2 2026Latest
Mar 5, 2026EPS
$0.12
Est $0.13
+7.7%
Revenue
$13M
Est $13M
+3.0%
Q4 2025
Nov 13, 2025EPS
$0.96
Est $0.17
-464.7%
Revenue
$12M
Est $13M
-12.4%
Q3 2025
Aug 12, 2025EPS
$0.27
Est $0.22
-22.7%
Revenue
$11M
Est $12M
-3.8%
Q2 2025
May 15, 2025EPS
$0.33
Est $0.20
-65.0%
Revenue
$9M
Est $9M
+0.8%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q2 2026Latest | Mar 5, 2026 | $0.12vs $0.13+7.7% | $13Mvs $13M+3.0% |
| Q4 2025 | Nov 13, 2025 | $0.96vs $0.17-464.7% | $12Mvs $13M-12.4% |
| Q3 2025 | Aug 12, 2025 | $0.27vs $0.22-22.7% | $11Mvs $12M-3.8% |
| Q2 2025 | May 15, 2025 | $0.33vs $0.20-65.0% | $9Mvs $9M+0.8% |
Based on last 12 quarters of dataView full earnings history →
TLSI Peer Comparison
TriSalus Life Sciences, Inc. (TLSI) competitors in Imaging, radiation, and oncology devices — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 NVCR | 1.88B | 16.50 | -13.52 | 8.28% | -25.66% | -50.82% | 0.85 | |
 ANGO | 459.4M | 11.05 | -13.31 | -3.76% | -9.02% | -15.71% | ||
 IRTC | 3.87B | 117.70 | -84.68 | 26.24% | -3.53% | -20.6% | 4.79 | |
 INVA | 1.91B | 22.52 | 6.82 | 18.52% | 118.91% | 46.47% | 0.23 | |
 CNMD | 1.15B | 37.32 | 24.72 | 5.16% | 4% | 5.4% | 0.81 | |
 ATRC | 1.42B | 28.01 | -116.71 | 14.88% | -0.83% | -0.95% | 0.18 | |
 BMY | 115.43B | 56.54 | 16.39 | -0.22% | 15.01% | 38.96% | 2.55 | |
 MRK | 280.48B | 113.56 | 15.60 | 1.18% | 28.12% | 36.14% | 0.96 |
Compare TLSI vs Peers
TriSalus Life Sciences, Inc. (TLSI) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
TLSI Income Statement
TriSalus Life Sciences, Inc. (TLSI) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Sales/Revenue | 0 | 8.4M | 12.4M | 18.51M | 29.43M | 45.15M |
| Revenue Growth % | - | - | 47.58% | 49.31% | 58.99% | 53.41% |
| Cost of Goods Sold | 0 | 1.19M | 2.26M | 2.6M | 4.1M | 6.96M |
| COGS % of Revenue | - | 14.2% | 18.21% | 14.07% | 13.94% | 15.43% |
| Gross Profit | 0▲ 0% | 7.21M▲ 0% | 10.14M▲ 40.7% | 15.91M▲ 56.9% | 25.33M▲ 59.2% | 38.19M▲ 50.8% |
| Gross Margin % | - | 85.8% | 81.79% | 85.93% | 86.06% | 84.57% |
| Gross Profit Growth % | - | - | 40.68% | 56.86% | 59.24% | 50.77% |
| Operating Expenses | 108.49K | 31.24M | 46.58M | 70.38M | 61.49M | 65.13M |
| OpEx % of Revenue | - | 371.86% | 375.7% | 380.21% | 208.94% | 144.25% |
| Selling, General & Admin | 108.49K | 17.02M | 25.22M | 40.55M | 43.8M | 50.17M |
| SG&A % of Revenue | - | 202.55% | 203.43% | 219.04% | 148.84% | 111.11% |
| Research & Development | 0 | 14.22M | 21.36M | 29.84M | 17.69M | 14.96M |
| R&D % of Revenue | - | 169.31% | 172.27% | 161.17% | 60.1% | 33.14% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -108.49K▲ 0% | -24.03M▼ 22050.7% | -36.44M▼ 51.6% | -54.48M▼ 49.5% | -36.16M▲ 33.6% | -26.95M▲ 25.5% |
| Operating Margin % | - | -286.06% | -293.91% | -294.28% | -122.88% | -59.68% |
| Operating Income Growth % | - | -22050.74% | -51.63% | -49.5% | 33.61% | 25.49% |
| EBITDA | -711.39K | -23.57M | -36.02M | -53.79M | -39.2M | -26.95M |
| EBITDA Margin % | - | -280.54% | -290.57% | -290.59% | -133.2% | -59.68% |
| EBITDA Growth % | - | -3212.97% | -52.86% | -49.32% | 27.12% | 31.26% |
| D&A (Non-Cash Add-back) | 0 | 464K | 414K | 684K | -3.04M | 0 |
| EBIT | -711.39K | -24.03M | -47.18M | -59.34M | -33.13M | 0 |
| Net Interest Income | 3.3K | -1.76M | 179K | 415K | -2.69M | 0 |
| Interest Income | 3.3K | 0 | 180K | 431K | 404K | 555K |
| Interest Expense | 0 | 1.76M | 1K | 16K | 3.09M | -5.54M |
| Other Income/Expense | -602.9K | -4.81M | -10.74M | -4.88M | 6.13M | -12.27M |
| Pretax Income | -711.39K▲ 0% | -28.84M▼ 3954.3% | -47.18M▼ 63.6% | -59.35M▼ 25.8% | -30.04M▲ 49.4% | -39.22M▼ 30.6% |
| Pretax Margin % | - | -343.32% | -380.53% | -320.64% | -102.07% | -86.86% |
| Income Tax | 0 | 3K | 9K | 9K | 6K | -7K |
| Effective Tax Rate % | 0% | -0.01% | -0.02% | -0.02% | -0.02% | 0.02% |
| Net Income | -31.83M▲ 0% | -28.84M▲ 9.4% | -47.19M▼ 63.6% | -59.36M▼ 25.8% | -33.23M▲ 44.0% | -69.69M▼ 109.7% |
| Net Margin % | - | -343.35% | -380.6% | -320.69% | -112.92% | -154.35% |
| Net Income Growth % | - | 9.38% | -63.59% | -25.8% | 44.02% | -109.7% |
| Net Income (Continuing) | -711.39K | -28.84M | -47.19M | -59.36M | -30.05M | -69.69M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.02▲ 0% | -0.92▼ 3935.1% | -1.59▼ 72.8% | -2.23▼ 40.3% | -1.25▲ 43.9% | -1.84▼ 47.2% |
| EPS Growth % | - | -3935.09% | -72.83% | -40.25% | 43.95% | -47.2% |
| EPS (Basic) | -0.02 | -0.92 | -1.59 | -2.23 | -1.25 | -1.84 |
| Diluted Shares Outstanding | 30.56M | 31.25M | 29.61M | 26.47M | 26.5M | 37.9M |
| Basic Shares Outstanding | 30.56M | 31.25M | 29.61M | 26.47M | 26.5M | 37.9M |
| Dividend Payout Ratio | - | - | - | - | - | - |
TLSI Balance Sheet
TriSalus Life Sciences, Inc. (TLSI) balance sheet — assets, liabilities & shareholders' equity
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Total Current Assets | 6.08M | 35.13M | 17.21M | 20.86M | 20.67M | 32.24M |
| Cash & Short-Term Investments | 4.49M | 30.3M | 9.41M | 11.78M | 8.53M | 20.44M |
| Cash Only | 4.49M | 30.3M | 9.41M | 11.78M | 8.53M | 20.44M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 617K | 1.36M | 1.56M | 3.55M | 5.09M | 6.56M |
| Days Sales Outstanding | - | 58.96 | 45.84 | 70.08 | 63.09 | 53.01 |
| Inventory | 567K | 1.29M | 1.47M | 2.54M | 4.05M | 3.08M |
| Days Inventory Outstanding | - | 395.29 | 237.78 | 356.59 | 360.11 | 161.25 |
| Other Current Assets | 406K | 0 | 0 | 0 | 0 | 2.17M |
| Total Non-Current Assets | 2.05M | 2.71M | 4.78M | 3.74M | 3.3M | 3.09M |
| Property, Plant & Equipment | 1.26M | 1.8M | 3.61M | 3.27M | 2.88M | 2.67M |
| Fixed Asset Turnover | - | 4.68x | 3.43x | 5.66x | 10.22x | 16.92x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 736K | 794K | 802K | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 250K | 0 | 350K | 0 |
| Other Non-Current Assets | 50K | 115K | 117K | 466K | 73K | 418K |
| Total Assets | 8.13M▲ 0% | 37.84M▲ 365.5% | 22M▼ 41.9% | 24.6M▲ 11.8% | 23.97M▼ 2.5% | 35.33M▲ 47.4% |
| Asset Turnover | - | 0.22x | 0.56x | 0.75x | 1.23x | 1.28x |
| Asset Growth % | - | 365.51% | -41.87% | 11.83% | -2.55% | 47.39% |
| Total Current Liabilities | 54.75M | 6.37M | 32.36M | 14.69M | 10.23M | 11.5M |
| Accounts Payable | 612K | 1.3M | 4.95M | 3.39M | 2.27M | 0 |
| Days Payables Outstanding | - | 397.74 | 799.67 | 475.13 | 202.29 | - |
| Short-Term Debt | 42.18M | 0 | 370K | 0 | 0 | 167K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 5.22M | 104K | 23.57M | 420K | 383K | 11.33M |
| Current Ratio | 0.11x | 5.51x | 0.53x | 1.42x | 2.02x | 2.80x |
| Quick Ratio | 0.10x | 5.31x | 0.49x | 1.25x | 1.63x | 2.54x |
| Cash Conversion Cycle | - | 56.51 | -516.05 | -48.46 | 220.9 | - |
| Total Non-Current Liabilities | 3.54M | 561K | 1.96M | 36.98M | 39.64M | 57.69M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 22.08M | 34.27M |
| Capital Lease Obligations | 0 | 0 | 1.59M | 1.24M | 1.33M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.54M | 561K | 369K | 35.73M | 16.22M | 23.42M |
| Total Liabilities | 58.28M | 6.93M | 34.32M | 51.66M | 49.87M | 69.19M |
| Total Debt | 42.18M | 0 | 1.96M | 1.59M | 23.63M | 34.44M |
| Net Debt | 37.7M | -30.3M | -7.45M | -10.18M | 15.1M | 14M |
| Debt / Equity | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - |
| Interest Coverage | - | -13.65x | -36439.00x | -3404.69x | -11.70x | - |
| Total Equity | -50.16M▲ 0% | 30.9M▲ 161.6% | -12.32M▼ 139.9% | -27.07M▼ 119.6% | -25.89M▲ 4.3% | -33.86M▼ 30.8% |
| Equity Growth % | - | 161.61% | -139.88% | -119.61% | 4.33% | -30.77% |
| Book Value per Share | -1.64 | 0.99 | -0.42 | -1.02 | -0.98 | -0.89 |
| Total Shareholders' Equity | -50.16M | 30.9M | -12.32M | -27.07M | -25.89M | -33.86M |
| Common Stock | 8K | 11K | 0 | 2K | 3K | 4K |
| Retained Earnings | -107.5M | -136.34M | -186.36M | -249.5M | -279.55M | -330.58M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
TLSI Cash Flow Statement
TriSalus Life Sciences, Inc. (TLSI) cash flow — operating, investing & free cash flow history
| Line item | Dec'20 | Dec'21 | Dec'22 | Dec'23 | Dec'24 | Dec'25 |
|---|---|---|---|---|---|---|
| Cash from Operations | -677.6K | -22.7M | -32.31M | -50.58M | -40.84M | -18.01M |
| Operating CF Margin % | - | -270.17% | -260.63% | -273.23% | -138.78% | -39.89% |
| Operating CF Growth % | - | -3249.62% | -42.37% | -56.53% | 19.25% | 55.9% |
| Net Income | -711.39K | -28.84M | -47.19M | -59.36M | -30.05M | -39.23M |
| Depreciation & Amortization | 0 | 464K | 398K | 684K | 744K | 626K |
| Stock-Based Compensation | 0 | 109K | 368K | 1.4M | 5.44M | 9.13M |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 603.77K | 5.71M | 11.81M | 6.16M | -7.43M | 11.46M |
| Working Capital Changes | -569.98K | -131K | 2.3M | 537K | -9.55M | 0 |
| Change in Receivables | 0 | -741K | -200K | -1.98M | -1.72M | -1.63M |
| Change in Inventory | 0 | -725K | -179K | -1.07M | -1.5M | 971K |
| Change in Payables | 0 | 3.17M | 5.25M | 2.84M | -4.38M | 0 |
| Cash from Investing | -250M | -2.26M | -1.79M | -1.59M | -345K | -838K |
| Capital Expenditures | 0 | -1.1M | -655K | -588K | -345K | -918K |
| CapEx % of Revenue | - | 13.06% | 5.28% | 3.18% | 1.17% | 2.03% |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - |
| Other Investing | 0 | -1.16M | -1.13M | -1M | 0 | 80K |
| Cash from Financing | 252.01M | 50.77M | 13.46M | 54.63M | 37.94M | 30.76M |
| Debt Issued (Net) | -178.08K | -1.3M | -131K | -87K | 24.92M | 0 |
| Equity Issued (Net) | 1000K | 1000K | 1000K | 1000K | 1000K | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 | 404K |
| Other Financing | 0 | 54K | 94K | 45.53M | -2.52M | 30.76M |
| Net Change in Cash | 1.33M▲ 0% | 25.81M▲ 1833.6% | -20.64M▼ 179.9% | 2.46M▲ 111.9% | -3.25M▼ 232.0% | 11.91M▲ 466.4% |
| Free Cash Flow | -677.6K▲ 0% | -23.95M▼ 3435.3% | -33.1M▼ 38.2% | -51.17M▼ 54.6% | -41.19M▲ 19.5% | -18.93M▲ 54.0% |
| FCF Margin % | - | -285.14% | -266.97% | -276.41% | -139.95% | -41.93% |
| FCF Growth % | - | -3435.27% | -38.17% | -54.58% | 19.5% | 54.04% |
| FCF per Share | -0.02 | -0.77 | -1.12 | -1.93 | -1.55 | -0.50 |
| FCF Conversion (FCF/Net Income) | 0.02x | 0.79x | 0.68x | 0.85x | 1.23x | 0.26x |
| Interest Paid | 0 | 18K | 0 | 18K | 1.75M | 0 |
| Taxes Paid | 0 | 3K | 9K | 14K | 18K | 0 |
TLSI Key Ratios
TriSalus Life Sciences, Inc. (TLSI) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Return on Equity (ROE) | - | -93.34% | -507.96% | - | - | - |
| Return on Invested Capital (ROIC) | - | -2994.02% | - | - | - | - |
| Gross Margin | - | 85.8% | 81.79% | 85.93% | 86.06% | 84.57% |
| Net Margin | - | -343.35% | -380.6% | -320.69% | -112.92% | -154.35% |
| Interest Coverage | - | -13.65x | -36439.00x | -3404.69x | -11.70x | - |
| FCF Conversion | 0.02x | 0.79x | 0.68x | 0.85x | 1.23x | 0.26x |
| Revenue Growth | - | - | 47.58% | 49.31% | 58.99% | 53.41% |
TLSI SEC Filings & Documents
TriSalus Life Sciences, Inc. (TLSI) SEC filings — annual & quarterly reports (10-K, 10-Q)
TLSI Frequently Asked Questions
TriSalus Life Sciences, Inc. (TLSI) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
TriSalus Life Sciences, Inc. (TLSI) reported $45.2M in revenue for fiscal year 2025.
TriSalus Life Sciences, Inc. (TLSI) grew revenue by 53.4% over the past year. This is strong growth.
TriSalus Life Sciences, Inc. (TLSI) reported a net loss of $39.2M for fiscal year 2025.
Dividend & Returns
TriSalus Life Sciences, Inc. (TLSI) had negative free cash flow of $18.9M in fiscal year 2025, likely due to heavy capital investments.
Explore More TLSI
TriSalus Life Sciences, Inc. (TLSI) financial analysis — history, returns, DCA and operating performance tools
Total Return Calculator
Historical returns with dividends reinvested
DCA Calculator
Dollar cost averaging vs lump sum
Dividend History
Yield, growth, payout safety & DRIP
Earnings History
EPS trends, net income & profitability
Price History
Long-term charts & historical price data
Revenue History
Sales growth patterns & revenue breakdown
Financial Ratios
30 years of market, efficiency and balance-sheet ratios
Valuation
DCF intrinsic value, peer multiples & estimates