TriSalus Life Sciences (NASDAQ:TLSI) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• TriSalus reported a quarterly loss of $0.15 per share, missing estimates by $0.02, while revenue of $12.88 million also fell short of expectations. Revenue grew 11% year over year, but the company cut its 2026 revenue outlook to $46 million–$48 million, citing slower sales-territory productivity and a shift in Y90 procedures.
• FDA clearance of TriNav Advance expands the company’s technology to small distal vessels, and management has begun a limited product release. Separately, finalized CMS payment changes are expected to improve reimbursement for Y90 mapping and PEDD procedures.
• Gross margin rose to 86%, adjusted EBITDA loss narrowed to $4.7 million, and TriSalus ended the quarter with about $41 million in cash to support its growth plans.

TriSalus Life Sciences (NASDAQ:TLSI - Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports. The firm had revenue of $12.88 million for the quarter, compared to analysts' expectations of $14.02 million.

Here are the key takeaways from TriSalus Life Sciences' conference call:

• Negative sentiment: Third-quarter revenue rose 11% year over year to $12.9 million, but growth was below expectations. TriSalus lowered its 2026 revenue outlook to $46 million–$48 million, or 2%–6% growth, citing slower productivity in new sales territories and a shift toward super-selective Y90 procedures.
• Positive sentiment: FDA clearance of TriNav Advance extends the company’s technology to small distal vessels, addressing procedures it previously could not fully serve. A limited release is underway; management said the product is not included in fourth-quarter revenue guidance.
• Positive sentiment: CMS finalized higher 2027 Medicare payment for Y90 mapping procedures and national pricing of about $13,788 for PEDD procedures in office-based labs. Management expects the changes to strengthen reimbursement and expand access across care settings.
• Positive sentiment: Gross margin improved to 86%, adjusted EBITDA loss narrowed to $4.7 million, and the company ended the quarter with about $41 million in cash, which management said funds its strategic growth plan.
• Neutral sentiment: TriSalus reported 11 active studies across 27 clinical sites and plans to advance comparative studies in liver cancer segments, alongside research in other indications. Upcoming evidence and publications could support adoption, though many milestones remain prospective.

TriSalus Life Sciences Price Performance

NASDAQ TLSI traded down $0.62 during trading on Tuesday, hitting $2.60. 881,118 shares of the stock traded hands, compared to its average volume of 291,440. The company has a quick ratio of 4.97, a current ratio of 5.35 and a debt-to-equity ratio of 5.05. TriSalus Life Sciences has a 12-month low of $2.20 and a 12-month high of $7.95. The firm has a 50-day simple moving average of $4.25 and a 200-day simple moving average of $4.35. The company has a market capitalization of $160.11 million, a P/E ratio of -2.01 and a beta of 0.50.

Analyst Ratings Changes

Several analysts recently issued reports on TLSI shares. Zacks Research upgraded TriSalus Life Sciences to a "hold" rating in a research report on Thursday, September 10th. Guggenheim set a $12.00 price target on TriSalus Life Sciences in a report on Wednesday, September 23rd. Stifel Nicolaus set a $12.00 price target on TriSalus Life Sciences in a report on Wednesday, September 23rd. Weiss Ratings restated a "sell (e+)" rating on shares of TriSalus Life Sciences in a research note on Wednesday, November 4th. Finally, HC Wainwright increased their price objective on shares of TriSalus Life Sciences from $11.00 to $12.00 and gave the company a "buy" rating in a report on Wednesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $10.20.

About TriSalus Life Sciences

TriSalus Life Sciences is an oncology-focused healthcare company developing technologies and therapies for patients with liver and pancreatic tumors. The company combines medical devices, drug-delivery systems and immunotherapy programs to address tumors that may be difficult to treat with conventional approaches.

Its core technology is Pressure-Enabled Drug Delivery (PEDD), a platform designed to improve the delivery of therapeutic agents directly to tumors through the arterial blood supply.

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