TriSalus Life Sciences, Inc. (TLSI) 10-Year Financial Performance & Capital Metrics

TLSI • • Industrial / General

HealthcareMedical DevicesOncology & Cancer Treatment DevicesRadiation Therapy Systems

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 $29M +59.0%
EBITDA -$39M +27.1%
Net Income -$33M +44.0%
EPS (Diluted) -1.25 +43.9%
Gross Margin 86.06% +0.2%
EBITDA Margin -133.2% +54.2%
Operating Margin -122.88% +58.2%
Net Margin -112.92% +64.8%
ROE -
ROIC -
Debt/Equity -
Interest Coverage -11.70 +99.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓High quality earnings: Operating CF exceeds net income
✓Efficient asset utilization: 1.2x turnover

✗Weaknesses

✗Negative free cash flow

Price & Volume

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Growth Metrics

Revenue CAGR

10Y-

5Y-

3Y51.88%

TTM49.52%

Profit (Net Income) CAGR

10Y-

5Y-

3Y-

TTM28.63%

EPS CAGR

10Y-

5Y-

3Y-

TTM10.57%

ROCE

10Y Avg-319.29%

5Y Avg-319.29%

3Y Avg-400.26%

Latest-305.78%

Peer Comparison

Radiation Therapy Systems

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	Debt/Equity
SRTSSensus Healthcare, Inc.	81.47M	4.96	12.10	71.31%	-8.44%	-5.87%	0.01
CATXPerspective Therapeutics, Inc.	184.36M	2.48	-2.02	-100%	-197.29%	-42.77%	0.01
TLSITriSalus Life Sciences, Inc.	307.28M	6.15	-4.92	58.99%	-98.45%
PROFProfound Medical Corp.	302.68M	8.34	-7.79	41.23%	-272.77%	-130.59%	0.08
DCTHDelcath Systems, Inc.	354.29M	10.21	-11.03	17.02%	1.5%	1.04%	0.02
PTHLPheton Holdings Ltd Class A Ordinary Shares	8.46M	0.90	-17.38	-28.7%	-91.16%	-13.91%	0.04
ARAYAccuray Incorporated	98.61M	0.87	-56.13	2.68%	-4.28%	-31.22%	2.17

Profit & Loss

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Sales/Revenue+	0	8.4M	12.4M	18.51M	29.43M
Revenue Growth %	-	-	0.48%	0.49%	0.59%
Cost of Goods Sold+	0	1.19M	2.26M	2.6M	4.1M
COGS % of Revenue	-	0.14%	0.18%	0.14%	0.14%
Gross Profit+	0	7.21M	10.14M	15.91M	25.33M
Gross Margin %	-	0.86%	0.82%	0.86%	0.86%
Gross Profit Growth %	-	-	0.41%	0.57%	0.59%
Operating Expenses+	108.49K	31.24M	46.58M	70.38M	61.49M
OpEx % of Revenue	-	3.72%	3.76%	3.8%	2.09%
Selling, General & Admin	108.49K	17.02M	25.22M	40.55M	43.8M
SG&A % of Revenue	-	2.03%	2.03%	2.19%	1.49%
Research & Development	0	14.22M	21.36M	29.84M	17.69M
R&D % of Revenue	-	1.69%	1.72%	1.61%	0.6%
Other Operating Expenses	0	0	0	0	0
Operating Income+	-108.49K	-24.03M	-36.44M	-54.48M	-36.16M
Operating Margin %	-	-2.86%	-2.94%	-2.94%	-1.23%
Operating Income Growth %	-	-220.51%	-0.52%	-0.49%	0.34%
EBITDA+	-711.39K	-23.57M	-36.02M	-53.79M	-39.2M
EBITDA Margin %	-	-2.81%	-2.91%	-2.91%	-1.33%
EBITDA Growth %	-	-32.13%	-0.53%	-0.49%	0.27%
D&A (Non-Cash Add-back)	0	464K	414K	684K	-3.04M
EBIT	-711.39K	-24.03M	-47.18M	-59.34M	-33.13M
Net Interest Income+	3.3K	-1.76M	179K	415K	-2.69M
Interest Income	3.3K	0	180K	431K	404K
Interest Expense	0	1.76M	1K	16K	3.09M
Other Income/Expense	-602.9K	-4.81M	-10.74M	-4.88M	6.13M
Pretax Income+	-711.39K	-28.84M	-47.18M	-59.35M	-30.04M
Pretax Margin %	-	-3.43%	-3.81%	-3.21%	-1.02%
Income Tax+	0	3K	9K	9K	6K
Effective Tax Rate %	44.74%	1%	1%	1%	1.11%
Net Income+	-31.83M	-28.84M	-47.19M	-59.36M	-33.23M
Net Margin %	-	-3.43%	-3.81%	-3.21%	-1.13%
Net Income Growth %	-	0.09%	-0.64%	-0.26%	0.44%
Net Income (Continuing)	-711.39K	-28.84M	-47.19M	-59.36M	-30.05M
Discontinued Operations	0	0	0	0	0
Minority Interest	0	0	0	0	0
EPS (Diluted)+	-0.02	-0.92	-1.59	-2.23	-1.25
EPS Growth %	-	-39.35%	-0.73%	-0.4%	0.44%
EPS (Basic)	-0.02	-0.92	-1.59	-2.23	-1.25
Diluted Shares Outstanding	30.56M	31.25M	29.61M	26.47M	26.5M
Basic Shares Outstanding	30.56M	31.25M	29.61M	26.47M	26.5M
Dividend Payout Ratio	-	-	-	-	-

Balance Sheet

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Total Current Assets+	6.08M	35.13M	17.21M	20.86M	20.67M
Cash & Short-Term Investments	4.49M	30.3M	9.41M	11.78M	8.53M
Cash Only	4.49M	30.3M	9.41M	11.78M	8.53M
Short-Term Investments	0	0	0	0	0
Accounts Receivable	617K	1.36M	1.56M	3.55M	5.09M
Days Sales Outstanding	-	58.96	45.84	70.08	63.09
Inventory	567K	1.29M	1.47M	2.54M	4.05M
Days Inventory Outstanding	-	395.29	237.78	356.59	360.11
Other Current Assets	406K	0	0	0	0
Total Non-Current Assets+	2.05M	2.71M	4.78M	3.74M	3.3M
Property, Plant & Equipment	1.26M	1.8M	3.61M	3.27M	2.88M
Fixed Asset Turnover	-	4.68x	3.43x	5.66x	10.22x
Goodwill	0	0	0	0	0
Intangible Assets	736K	794K	802K	0	0
Long-Term Investments	0	0	250K	0	350K
Other Non-Current Assets	50K	115K	117K	466K	73K
Total Assets+	8.13M	37.84M	22M	24.6M	23.97M
Asset Turnover	-	0.22x	0.56x	0.75x	1.23x
Asset Growth %	-	3.66%	-0.42%	0.12%	-0.03%
Total Current Liabilities+	54.75M	6.37M	32.36M	14.69M	10.23M
Accounts Payable	612K	1.3M	4.95M	3.39M	2.27M
Days Payables Outstanding	-	397.74	799.67	475.13	202.29
Short-Term Debt	42.18M	0	370K	0	0
Deferred Revenue (Current)	0	0	0	0	0
Other Current Liabilities	5.22M	104K	23.57M	420K	383K
Current Ratio	0.11x	5.51x	0.53x	1.42x	2.02x
Quick Ratio	0.10x	5.31x	0.49x	1.25x	1.63x
Cash Conversion Cycle	-	56.51	-516.05	-48.46	220.9
Total Non-Current Liabilities+	3.54M	561K	1.96M	36.98M	39.64M
Long-Term Debt	0	0	0	0	22.08M
Capital Lease Obligations	0	0	1.59M	1.24M	1.33M
Deferred Tax Liabilities	0	0	0	0	0
Other Non-Current Liabilities	3.54M	561K	369K	35.73M	16.22M
Total Liabilities	58.28M	6.93M	34.32M	51.66M	49.87M
Total Debt+	42.18M	0	1.96M	1.59M	23.63M
Net Debt	37.7M	-30.3M	-7.45M	-10.18M	15.1M
Debt / Equity	-	-	-	-	-
Debt / EBITDA	-	-	-	-	-
Net Debt / EBITDA	-	-	-	-	-
Interest Coverage	-	-13.65x	-36439.00x	-3404.69x	-11.70x
Total Equity+	-50.16M	30.9M	-12.32M	-27.07M	-25.89M
Equity Growth %	-	1.62%	-1.4%	-1.2%	0.04%
Book Value per Share	-1.64	0.99	-0.42	-1.02	-0.98
Total Shareholders' Equity	-50.16M	30.9M	-12.32M	-27.07M	-25.89M
Common Stock	8K	11K	0	2K	3K
Retained Earnings	-107.5M	-136.34M	-186.36M	-249.5M	-279.55M
Treasury Stock	0	0	0	0	0
Accumulated OCI	0	0	0	0	0
Minority Interest	0	0	0	0	0

Cash Flow

	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	-677.6K	-22.7M	-32.31M	-50.58M	-40.84M
Operating CF Margin %	-	-2.7%	-2.61%	-2.73%	-1.39%
Operating CF Growth %	-	-32.5%	-0.42%	-0.57%	0.19%
Net Income	-711.39K	-28.84M	-47.19M	-59.36M	-30.05M
Depreciation & Amortization	0	464K	398K	684K	744K
Stock-Based Compensation	0	109K	368K	1.4M	5.44M
Deferred Taxes	0	0	0	0	0
Other Non-Cash Items	603.77K	5.71M	11.81M	6.16M	-7.43M
Working Capital Changes	-569.98K	-131K	2.3M	537K	-9.55M
Change in Receivables	0	-741K	-200K	-1.98M	-1.72M
Change in Inventory	0	-725K	-179K	-1.07M	-1.5M
Change in Payables	0	3.17M	5.25M	2.84M	-4.38M
Cash from Investing+	-250M	-2.26M	-1.79M	-1.59M	-345K
Capital Expenditures	0	-1.1M	-655K	-588K	-345K
CapEx % of Revenue	-	0.13%	0.05%	0.03%	0.01%
Acquisitions	-	-	-	-	-
Investments	-	-	-	-	-
Other Investing	0	-1.16M	-1.13M	-1M	0
Cash from Financing+	252.01M	50.77M	13.46M	54.63M	37.94M
Debt Issued (Net)	-	-	-	-	-
Equity Issued (Net)	-	-	-	-	-
Dividends Paid	0	0	0	0	0
Share Repurchases	-	-	-	-	-
Other Financing	0	54K	94K	45.53M	-2.52M
Net Change in Cash	-	-	-	-	-
Free Cash Flow+	-677.6K	-23.95M	-33.1M	-51.17M	-41.19M
FCF Margin %	-	-2.85%	-2.67%	-2.76%	-1.4%
FCF Growth %	-	-34.35%	-0.38%	-0.55%	0.2%
FCF per Share	-0.02	-0.77	-1.12	-1.93	-1.55
FCF Conversion (FCF/Net Income)	0.02x	0.79x	0.68x	0.85x	1.23x
Interest Paid	0	18K	0	18K	1.75M
Taxes Paid	0	3K	9K	14K	18K

Key Ratios

Metric	2020	2021	2022	2023	2024
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%
Net Margin	-	-343.35%	-380.6%	-320.69%	-112.92%
Interest Coverage	-	-13.65x	-36439.00x	-3404.69x	-11.70x
FCF Conversion	0.02x	0.79x	0.68x	0.85x	1.23x
Revenue Growth	-	-	47.58%	49.31%	58.99%

Frequently Asked Questions

Growth & Financials

TriSalus Life Sciences, Inc. (TLSI) reported $40.2M in revenue for fiscal year 2024.

TriSalus Life Sciences, Inc. (TLSI) grew revenue by 59.0% over the past year. This is strong growth.

TriSalus Life Sciences, Inc. (TLSI) reported a net loss of $39.6M for fiscal year 2024.

Dividend & Returns

TriSalus Life Sciences, Inc. (TLSI) had negative free cash flow of $22.2M in fiscal year 2024, likely due to heavy capital investments.

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