TriSalus Life Sciences, Inc. (TLSI)
TriSalus Life Sciences, Inc. is an immunotherapy firm dedicated to the research, development, and market introduction of treatments that leverage the body's immune system, primarily targeting liver and pancreatic cancers. The company's product portfolio includes the TriNav Infusion System, designed for hepatic arterial infusion to treat liver tumors, and the Pancreatic Retrograde Venous Infusion System, which addresses pancreatic tumors. Additionally, TriSalus is advancing SD-101, an investigational immunotherapeutic that incorporates pressure-enabled drug delivery technology. This experimental therapy is currently being explored for its application in 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's operations are headquartered in Westminster, Colorado.
Sector: Surgical & Medical Instruments & Apparatus
Industry: Medical - Devices
TriSalus Life Sciences, Inc.
NASDAQ:TLSIHealthcare · Medical - Devices
-4.15%$3.70
AH$3.70+0.00%vs close
Mkt Cap$227.83M
Float43.96M
O/S61.57M
Vol
$ Vol
RVOL
Inst Own35.4%
SI7.8%
Earnings
Dilution
Financials Summary
Revenue$45.15M
Net Income-$39.23M
Total Assets$35.33M
Free Cash Flow-$18.93M
Debt & Equity
Debt 5938%
Total Debt$34.44M
Total Equity-$33.86M
Shares Outstanding
Short Interest
Split History
No splits on record
Nothing in TLSI's public trading history: no forward or reverse split has affected the share count.
Balance Sheet Details
Assets$35.33M
Liabilities$69.19M
Accounts Receivable$6.56M
Accounts Payable$3M
Inventory$3.08M
PP&E (Net)$2.67M
Goodwill$0
Intangible Assets$0
Income Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Revenue | $45.15M | $29.43M | $18.51M | $12.4M | $8.4M | $0 |
| YoY Growth | 53.4% | 59.0% | 49.3% | 47.6% | - | - |
| Cost of Revenue | $6.96M | $4.1M | $2.6M | $2.26M | $1.19M | $0 |
| Gross Profit | $38.19M | $25.33M | $15.91M | $10.14M | $7.21M | $0 |
| Gross Margin | 84.6% | 86.1% | 85.9% | 81.8% | 85.8% | - |
| Research and Development | $14.96M | $17.69M | $29.84M | $21.36M | $14.22M | $0 |
| Selling, General, and Administrative | $50.17M | $43.8M | $40.55M | $25.22M | $17.02M | $108K |
| Other | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Operating Expenses | $65.13M | $61.49M | $70.38M | $46.58M | $31.24M | $108K |
| Operating Income (EBIT) | -$26.95M | -$36.16M | -$54.48M | -$36.44M | -$24.03M | -$108K |
| Operating Margin | -59.7% | -122.9% | -294.3% | -293.9% | -286.1% | - |
| Interest Expense | $5.54M | $3.09M | $16K | $1K | $1.76M | $0 |
| Interest Income | $555K | $404K | $431K | $180K | $0 | $3K |
| Other Income (Expense) | -$12.27M | $6.13M | -$4.88M | -$10.74M | -$4.81M | -$603K |
| Income Before Tax (EBT) | -$39.22M | -$30.04M | -$59.35M | -$47.18M | -$28.84M | -$711K |
| Income Tax Expense | $7K | $6K | $9K | $9K | $3K | $0 |
| Net Income | -$39.23M | -$33.23M | -$59.36M | -$47.19M | -$28.84M | -$31.83M |
| Net Income Margin | -86.9% | -112.9% | -320.7% | -380.6% | -343.4% | - |
| Supplementary Data | ||||||
| EPS | -1.84 | -1.25 | -2.23 | -1.59 | -0.92 | -0.02 |
| Diluted EPS | -1.84 | -1.25 | -2.23 | -1.59 | -0.92 | -0.02 |
| Weighted Average OS | 37.90M | 26.50M | 26.47M | 29.61M | 31.25M | 30.56M |
| EBITDA | -$33.05M | -$32.38M | -$58.65M | -$46.78M | -$26.62M | -$711K |
| EBITDA Margin | -73.2% | -110.0% | -316.9% | -377.3% | -316.8% | - |
Balance Sheet
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Assets | ||||||
| Current Assets | ||||||
| Cash and Cash Equivalents | $20.44M | $8.53M | $11.78M | $9.41M | $30.3M | $4.49M |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Cash and Short-Term Investments | $20.44M | $8.53M | $11.78M | $9.41M | $30.3M | $4.49M |
| Accounts Receivable | $6.56M | $5.09M | $3.55M | $1.56M | $1.36M | $617K |
| Inventory | $3.08M | $4.05M | $2.54M | $1.47M | $1.29M | $567K |
| Other Current Assets | $0 | $0 | $0 | $0 | $0 | $406K |
| Total Current Assets | $32.24M | $20.67M | $20.86M | $17.21M | $35.13M | $6.08M |
| Long-Term Assets | ||||||
| Property, Plant & Equipment Net | $2.67M | $2.88M | $3.27M | $3.61M | $1.8M | $1.26M |
| Goodwill | $0 | $0 | $0 | $0 | $0 | $0 |
| Intangible Assets | $0 | $0 | $0 | $802K | $794K | $736K |
| Long-Term Investments | $400K | $350K | $0 | $250K | $0 | $0 |
| Deferred Tax Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Assets | $18K | $73K | $466K | $117K | $115K | $50K |
| Total Long-Term Assets | $3.09M | $3.3M | $3.74M | $4.78M | $2.71M | $2.05M |
| Other Assets | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Assets | $35.33M | $23.97M | $24.6M | $22M | $37.84M | $8.13M |
| Liabilities | ||||||
| Current Liabilities | ||||||
| Accounts Payable | $3M | $2.27M | $3.39M | $4.95M | $1.3M | $612K |
| Short-Term Debt | $0 | $0 | $0 | $370K | $0 | $42.18M |
| Current Income Tax Payable | $0 | $34K | $0 | $0 | $0 | $0 |
| Current Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Current Liabilities | $2.56M | $383K | $420K | $23.57M | $104K | $5.22M |
| Total Current Liabilities | $11.5M | $10.23M | $14.69M | $32.36M | $6.37M | $54.75M |
| Long-Term Liabilities | ||||||
| Long-Term Debt | $34.27M | $22.08M | $0 | $0 | $0 | $0 |
| Long-Term Unearned Revenue | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-Term Deferred Tax Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Long-Term Liabilities | $23.42M | $16.22M | $35.73M | $369K | $561K | $3.54M |
| Total Long-Term Liabilities | $57.69M | $39.64M | $36.98M | $1.96M | $561K | $3.54M |
| Other Liabilities | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $69.19M | $49.87M | $51.66M | $34.32M | $6.93M | $58.28M |
| Stockholders' Equity | ||||||
| Preferred Stock | $0 | $0 | $0 | $164.01M | $160.51M | $55.98M |
| Common Stock | $4K | $3K | $2K | $0 | $11K | $8K |
| Retained Earnings | -$330.58M | -$279.55M | -$249.5M | -$186.36M | -$136.34M | -$107.5M |
| Comprehensive Income & Other | $0 | $0 | -$0 | $0 | $0 | $0 |
| Other Stockholders' Equity | $296.72M | $253.65M | $222.44M | $174.03M | $167.23M | $57.33M |
| Total Equity | -$33.86M | -$25.89M | -$27.07M | -$12.32M | $30.9M | -$50.16M |
| Minority Interest | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities and Equity | $35.33M | $23.97M | $24.6M | $22M | $37.84M | $8.13M |
| Supplementary Data | ||||||
| Total Debt | $34.44M | $23.63M | $1.59M | $1.96M | $0 | $42.18M |
| Net Debt | $14M | $15.1M | -$10.18M | -$7.45M | -$30.3M | $37.7M |
Cash Flow Statement
| Period | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Currency | USD | USD | USD | USD | USD | USD |
| Period Ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 |
| Operating Activities | ||||||
| Net Income | -$39.23M | -$30.05M | -$59.36M | -$47.19M | -$28.84M | -$711K |
| Depreciation & Amortization | $626K | $744K | $684K | $398K | $464K | $0 |
| Deferred Income Tax | $0 | $0 | $0 | $0 | $0 | $0 |
| Stock-Based Compensation | $9.13M | $5.44M | $1.4M | $368K | $109K | $0 |
| Changes in Working Capital: | ||||||
| Accounts Receivable | -$1.63M | -$1.72M | -$1.98M | -$200K | -$741K | $0 |
| Inventory | $971K | -$1.5M | -$1.07M | -$179K | -$725K | $0 |
| Accounts Payable | $2.02M | -$4.38M | $2.84M | $5.25M | $3.17M | $0 |
| Other Working Capital | $711K | -$1.94M | $751K | -$2.57M | -$1.84M | -$570K |
| Total Working Capital Change | $2.07M | -$9.55M | $537K | $2.3M | -$131K | -$570K |
| Other Non-Cash Items | $9.39M | -$7.43M | $6.16M | $11.81M | $5.71M | $604K |
| Net Cash from Operating | -$18.01M | -$40.84M | -$50.58M | -$32.31M | -$22.7M | -$678K |
| Investing Activities | ||||||
| Capital Expenditures | -$918K | -$345K | -$588K | -$655K | -$1.1M | $0 |
| Acquisitions | $80K | $0 | $0 | $0 | $0 | $0 |
| Purchases of Investments | $0 | $0 | $0 | $0 | $0 | -$250M |
| Sales of Investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Investing Activities | $0 | $0 | -$1M | -$1.13M | -$1.16M | $0 |
| Net Cash from Investing | -$838K | -$345K | -$1.59M | -$1.79M | -$2.26M | -$250M |
| Financing Activities | ||||||
| Debt Repaid | -$9.92M | -$24.92M | $87K | $131K | $1.3M | $178K |
| Common Stock Issuance | $22.91M | $15.54M | $0 | $0 | $0 | $252.19M |
| Common Stock Repurchases | $0 | $0 | $0 | $0 | $0 | $0 |
| Dividends Paid | $0 | $0 | $0 | $0 | $0 | $0 |
| Other Financing Activities | -$2.07M | -$2.52M | $45.53M | $94K | $54K | $0 |
| Net Cash from Financing | $30.76M | $37.94M | $54.63M | $13.46M | $50.77M | $252.01M |
| Forex Effect | $0 | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $11.91M | -$3.25M | $2.46M | -$20.64M | $25.81M | $1.33M |
| Supplementary Data | ||||||
| Operating Cash Flow | -$18.01M | -$40.84M | -$50.58M | -$32.31M | -$22.7M | -$678K |
| Capital Expenditure | -$918K | -$345K | -$588K | -$786K | -$1.26M | -$1 |
| Free Cash Flow | -$18.93M | -$41.19M | -$51.17M | -$33.1M | -$23.95M | -$678K |
| Cash at Beginning | $8.88M | $12.13M | $9.66M | $30.3M | $4.49M | $0 |
| Cash at End | $20.79M | $8.88M | $12.13M | $9.66M | $30.3M | $1.33M |