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TriSalus Life Sciences (TLSIW) Financials

TriSalus Life Sciences logo
$0.90 +0.02 (+2.30%)
As of 07/10/2026 03:59 PM Eastern
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Annual Income Statements for TriSalus Life Sciences

Annual Income Statements for TriSalus Life Sciences

This table shows TriSalus Life Sciences' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 4.77 -50 -64 -33 -70
Consolidated Net Income / (Loss)		 4.77 -47 -59 -30 -39
Net Income / (Loss) Continuing Operations		 4.77 -47 -59 -30 -39
Total Pre-Tax Income 		4.77 -47 -59 -30 -39
Total Operating Income		 -3.04 -36 -54 -36 -27
Total Gross Profit		 0.00 10 16 25 38
Total Revenue		 0.00 12 19 29 45
Operating Revenue		 - 12 19 29 45
Total Cost of Revenue		 0.00 2.26 2.61 4.10 6.97
Operating Cost of Revenue		 - 2.26 2.61 4.10 6.97
Total Operating Expenses		 3.04 47 70 61 65
Selling, General & Admin Expense		 3.04 12 24 18 21
Marketing Expense		 - 13 17 26 29
Research & Development Expense		 - 21 30 18 15
Total Other Income / (Expense), net		 7.81 -11 -4.88 6.13 -12
Interest Expense		 - 0.00 0.02 3.09 5.54
Interest & Investment Income		 0.06 0.18 0.43 0.40 0.56
Other Income / (Expense), net		 7.74 -11 -5.29 8.81 -7.29
Income Tax Expense		 0.00 0.01 0.01 0.01 0.01
Preferred Stock Dividends Declared		 - 2.83 4.24 3.19 30
Basic Earnings per Share		 $0.30 ($161.55) ($6.77) ($1.31) ($1.84)
Weighted Average Basic Shares Outstanding		 31.25M 309.61K 9.40M 25.33M 37.90M
Diluted Earnings per Share		 $0.30 ($161.55) ($6.77) ($1.31) ($1.84)
Weighted Average Diluted Shares Outstanding		 31.25M 309.61K 9.40M 25.33M 37.90M
Weighted Average Basic & Diluted Shares Outstanding		 31.25M 8.20M - 32.27M 61.31M

Quarterly Income Statements for TriSalus Life Sciences

This table shows TriSalus Life Sciences' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.88 -36 -14 -5.13 -3.20 -11 -11 -9.00 -41 -8.33 1.54
Consolidated Net Income / (Loss)		 -1.43 -36 -13 -4.33 -2.40 -10 -10 -8.29 -11 -9.75 1.54
Net Income / (Loss) Continuing Operations		 -1.43 -36 -13 -4.33 -2.40 -10 -10 -8.29 -11 -9.75 1.54
Total Pre-Tax Income 		-1.43 -36 -13 -4.33 -2.40 -10 -10 -8.29 -11 -9.75 1.54
Total Operating Income		 -19 -14 -12 -8.17 -8.74 -7.57 -7.33 -7.33 -9.01 -3.27 -8.41
Total Gross Profit		 4.60 5.14 5.49 6.45 6.35 7.05 7.67 9.41 9.66 11 7.67
Total Revenue		 5.19 5.72 6.46 7.36 7.35 8.26 9.17 11 12 13 8.90
Operating Revenue		 5.19 5.72 6.46 7.36 7.35 8.26 9.17 11 12 13 8.90
Total Cost of Revenue		 0.59 0.58 0.97 0.91 1.00 1.22 1.50 1.80 1.91 1.76 1.23
Operating Cost of Revenue		 0.59 0.58 0.97 0.91 1.00 1.22 1.50 1.80 1.91 1.76 1.23
Total Operating Expenses		 23 19 17 15 15 15 15 17 19 15 16
Selling, General & Admin Expense		 9.03 6.04 4.63 3.96 4.73 4.66 5.25 5.66 6.66 4.17 5.45
Marketing Expense		 4.69 5.60 6.69 6.00 6.14 7.01 6.73 7.16 6.84 7.97 7.41
Research & Development Expense		 9.51 7.80 5.84 4.67 4.22 2.95 3.02 3.92 5.18 2.57 3.22
Total Other Income / (Expense), net		 17 -21 -1.53 3.85 6.34 -2.53 -3.04 -0.96 -1.79 -6.48 9.95
Interest Expense		 0.00 0.00 0.00 0.88 1.14 1.07 1.21 1.42 1.46 1.45 1.44
Interest & Investment Income		 0.12 0.24 0.09 0.10 0.16 0.06 0.07 0.13 0.17 0.18 0.16
Other Income / (Expense), net		 17 -22 -1.62 4.63 7.32 -1.52 -1.91 0.33 -0.50 -5.21 11
Income Tax Expense		 0.00 0.00 0.00 0.01 -0.00 -0.00 0.01 -0.00 0.01 - 0.00
Preferred Stock Dividends Declared		 0.46 0.80 0.80 0.80 0.80 0.78 0.71 0.71 30 -1.43 0.00
Basic Earnings per Share		 ($0.14) $29.78 ($0.60) ($0.21) ($0.12) ($0.38) ($0.39) ($0.27) ($0.96) ($0.22) $0.03
Weighted Average Basic Shares Outstanding		 13.17M 9.40M 23.32M 23.90M 26.50M 25.33M 28.53M 32.90M 43.06M 37.90M 51.54M
Diluted Earnings per Share		 ($0.14) $29.78 ($0.60) ($0.21) ($0.12) ($0.38) ($0.39) ($0.27) ($0.96) ($0.22) $0.03
Weighted Average Diluted Shares Outstanding		 13.17M 9.40M 23.32M 23.90M 26.50M 25.33M 28.53M 32.90M 43.06M 37.90M 52.31M
Weighted Average Basic & Diluted Shares Outstanding		 26.32M 0.00 27.16M 29.31M 30.49M 32.27M 37.84M 49.87M 49.96M 61.31M 61.42M

Annual Cash Flow Statements for TriSalus Life Sciences

This table details how cash moves in and out of TriSalus Life Sciences' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 -1.13 -21 2.46 -3.25 12
Net Cash From Operating Activities		 -1.74 -32 -51 -41 -18
Net Cash From Continuing Operating Activities		 -1.74 -32 -51 -41 -18
Net Income / (Loss) Continuing Operations		 4.77 -47 -59 -30 -39
Consolidated Net Income / (Loss)		 4.77 -47 -59 -30 -39
Depreciation Expense		 - 0.40 0.68 0.74 0.63
Amortization Expense		 - - 0.00 0.61 1.05
Non-Cash Adjustments To Reconcile Net Income		 -7.81 12 18 8.63 15
Changes in Operating Assets and Liabilities, net		 1.30 2.19 -9.76 -21 4.81
Net Cash From Investing Activities		 0.06 -1.79 -1.59 -0.35 -0.84
Net Cash From Continuing Investing Activities		 0.06 -1.79 -1.59 -0.35 -0.84
Purchase of Property, Plant & Equipment		 - -0.66 -0.59 -0.35 -0.92
Sale of Property, Plant & Equipment		 - - - 0.00 0.08
Net Cash From Financing Activities		 0.54 13 55 38 31
Net Cash From Continuing Financing Activities		 0.54 13 55 38 31
Repayment of Debt		 0.00 - 0.00 -2.59 -0.52
Repurchase of Common Equity		 0.00 0.00 -0.02 0.00 -1.55
Issuance of Debt		 0.54 - 0.00 25 10
Issuance of Common Equity		 0.00 - 0.00 16 22
Other Financing Activities, net		 - -0.04 45 -0.01 0.43
Cash Interest Paid		 - - 0.02 1.75 3.70
Cash Income Taxes Paid		 0.00 0.01 0.01 0.02 0.02

Quarterly Cash Flow Statements for TriSalus Life Sciences

This table details how cash moves in and out of TriSalus Life Sciences' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 17 -9.51 -7.81 13 -5.19 -2.76 4.48 13 -3.80 -2.25 36
Net Cash From Operating Activities		 -22 -9.18 -11 -13 -11 -5.71 -4.50 -7.32 -3.71 -2.48 -6.48
Net Cash From Continuing Operating Activities		 -22 -9.18 -11 -13 -11 -5.71 -4.54 -7.32 -3.71 -2.65 -6.48
Net Income / (Loss) Continuing Operations		 -1.48 -36 -13 -4.33 -2.40 -10 -10 -8.29 -11 -9.75 1.54
Consolidated Net Income / (Loss)		 -1.48 -36 -13 -4.33 -2.40 -10 -10 -8.29 -11 -9.75 1.54
Depreciation Expense		 0.16 0.19 0.18 0.19 0.18 0.19 0.17 0.17 0.16 0.13 0.14
Amortization Expense		 0.13 -0.13 0.00 0.42 0.02 0.41 0.24 0.58 -0.31 0.28 0.30
Non-Cash Adjustments To Reconcile Net Income		 4.07 13 -1.34 10 -3.13 2.51 3.01 2.32 7.39 2.08 -1.34
Changes in Operating Assets and Liabilities, net		 -25 14 3.51 -20 -5.51 1.30 2.42 -2.09 -0.14 4.61 -7.11
Net Cash From Investing Activities		 -1.11 -0.37 -0.07 -0.06 -0.17 -0.05 -0.71 0.09 -0.18 -0.04 -0.14
Net Cash From Continuing Investing Activities		 -1.11 -0.37 -0.07 -0.06 -0.17 -0.05 -0.71 0.09 -0.18 -0.04 -0.14
Purchase of Property, Plant & Equipment		 -0.18 -0.37 -0.07 -0.06 -0.17 -0.05 -0.75 0.09 -0.22 -0.04 -0.14
Sale of Property, Plant & Equipment		 - - 0.00 - - - 0.04 - 0.04 - 0.00
Net Cash From Financing Activities		 40 0.04 3.13 26 5.82 2.99 9.69 21 0.08 0.28 42
Net Cash From Continuing Financing Activities		 40 0.04 3.13 26 5.82 2.99 9.69 21 0.08 0.28 42
Repayment of Debt		 - - 0.00 -2.59 - - -0.52 - - - -0.26
Issuance of Debt		 - - 0.00 25 - - 10 - - - 0.00
Issuance of Common Equity		 - - 3.14 3.60 5.84 2.95 0.00 22 - 0.19 43
Other Financing Activities, net		 40 0.06 -0.02 -0.02 -0.02 0.04 0.21 0.06 0.08 0.08 0.02
Cash Interest Paid		 - - 0.00 0.45 1.31 - 0.71 0.85 0.97 1.17 1.14
Cash Income Taxes Paid		 - - 0.00 0.00 - - 0.00 0.02 - - 0.00

Annual Balance Sheets for TriSalus Life Sciences

This table presents TriSalus Life Sciences' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2020 2021 2022 2023 2024 2025
Period end date 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 252 251 22 25 24 35
Total Current Assets		 2.01 0.53 17 21 21 32
Cash & Equivalents		 1.33 0.20 9.41 12 8.53 20
Accounts Receivable		 - - 1.56 3.55 5.09 6.56
Inventories, net		 - - 1.47 2.55 4.05 3.08
Prepaid Expenses		 0.67 0.33 4.77 2.99 3.01 2.17
Plant, Property, & Equipment, net		 0.00 0.00 2.23 2.09 1.67 1.81
Total Noncurrent Assets		 250 250 2.55 1.65 1.63 1.28
Other Noncurrent Operating Assets		 250 250 1.75 1.65 1.63 1.28
Total Liabilities & Shareholders' Equity		 252 251 22 25 24 35
Total Liabilities		 23 17 34 52 50 69
Total Current Liabilities		 0.10 1.60 32 15 10 11
Accounts Payable		 0.10 1.06 4.95 3.39 2.27 3.00
Accrued Expenses		 - - 6.38 11 7.36 8.10
Other Current Liabilities		 - 0.00 21 0.74 0.60 0.40
Total Noncurrent Liabilities		 23 16 1.96 37 40 58
Long-Term Debt		 - 0.00 - 0.00 22 33
Other Noncurrent Operating Liabilities		 23 16 1.96 37 18 25
Commitments & Contingencies		 0.00 0.00 - 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -21 -17 -176 -27 -26 -34
Total Preferred & Common Equity		 -21 -17 -176 -27 -26 -34
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -21 -17 -176 -27 -26 -34
Common Stock		 0.00 0.00 10 222 254 297
Retained Earnings		 -21 -17 -186 -250 -280 -331

Quarterly Balance Sheets for TriSalus Life Sciences

This table presents TriSalus Life Sciences' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 9/30/2023 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 34 18 32 27 29 41 36 71
Total Current Assets		 29 13 28 24 25 38 33 68
Cash & Equivalents		 21 3.97 16 11 13 26 23 57
Accounts Receivable		 3.05 4.28 4.71 4.91 5.45 5.57 5.00 5.22
Inventories, net		 1.63 2.91 3.44 4.00 4.16 3.81 3.28 3.78
Prepaid Expenses		 2.98 2.03 3.31 3.61 2.48 2.22 2.37 2.59
Plant, Property, & Equipment, net		 1.90 1.97 1.83 1.82 1.97 1.71 1.83 1.94
Total Noncurrent Assets		 2.62 2.73 2.66 1.85 1.56 1.52 1.31 0.90
Other Noncurrent Operating Assets		 1.62 1.62 1.55 1.85 1.56 1.52 1.31 0.90
Total Liabilities & Shareholders' Equity		 34 18 32 27 29 41 36 71
Total Liabilities		 25 53 57 48 63 61 63 58
Total Current Liabilities		 9.31 14 12 9.92 12 9.32 11 12
Accounts Payable		 1.90 2.35 1.98 1.45 2.81 1.90 3.78 4.23
Accrued Expenses		 6.60 11 9.41 7.88 8.40 7.08 6.77 7.07
Other Current Liabilities		 0.81 0.62 0.61 0.60 0.54 0.34 0.35 0.49
Total Noncurrent Liabilities		 16 38 45 38 51 51 52 46
Long-Term Debt		 - - 21 22 32 32 33 33
Other Noncurrent Operating Liabilities		 16 38 23 16 20 18 18 13
Commitments & Contingencies		 0.00 - - - 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 8.49 -35 -24 -20 -34 -19 -27 13
Total Preferred & Common Equity		 8.49 -35 -24 -20 -34 -19 -27 13
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 8.49 -35 -24 -20 -34 -19 -27 13
Common Stock		 221 227 242 249 256 279 294 342
Retained Earnings		 -213 -262 -266 -269 -290 -298 -321 -329

Annual Metrics And Ratios for TriSalus Life Sciences

This table displays calculated financial ratios and metrics derived from TriSalus Life Sciences' official financial filings.

Metric 2021 2022 2023 2024 2025
Period end date 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 62,500,000.00 31,250,000.00 26,316,681.00 - 49,964,311.00
DEI Adjusted Shares Outstanding		 62,500,000.00 31,250,000.00 26,316,681.00 - 49,964,311.00
DEI Earnings Per Adjusted Shares Outstanding		 0.08 -1.60 -2.42 - -1.39
Growth Metrics		 - - - - -
Revenue Growth		 0.00% 0.00% 49.31% 58.99% 53.41%
EBITDA Growth		 0.00% -1,098.43% -25.82% 57.02% -25.23%
EBIT Growth		 0.00% -1,106.89% -26.21% 54.24% -25.15%
NOPAT Growth		 0.00% -738.86% -49.50% 33.61% 25.49%
Net Income Growth		 0.00% -1,089.81% -25.80% 49.39% -30.56%
EPS Growth		 0.00% -53,950.00% 95.81% 80.65% -40.46%
Operating Cash Flow Growth		 0.00% -1,759.08% -56.53% 19.25% 55.90%
Free Cash Flow Firm Growth		 0.00% 0.00% -109.15% -146.44% 80.81%
Invested Capital Growth		 0.00% -109.30% -78.68% 68.24% -72.31%
Revenue Q/Q Growth		 0.00% 216.03% -12.95% 9.44% 12.30%
EBITDA Q/Q Growth		 0.00% -12,423.97% 12.46% 52.19% 0.16%
EBIT Q/Q Growth		 0.00% -12,530.12% 12.01% 49.23% 1.78%
NOPAT Q/Q Growth		 0.00% -149.81% 19.35% 15.06% 13.79%
Net Income Q/Q Growth		 0.00% -183,885.78% 12.68% 45.69% 0.90%
EPS Q/Q Growth		 0.00% -535.27% 96.08% -104.53% 8.00%
Operating Cash Flow Q/Q Growth		 0.00% -30.91% -1.74% 6.71% 15.18%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% -110.20% -58.69% 41.54%
Invested Capital Q/Q Growth		 0.00% -109.03% -201.19% -22.81% -42.50%
Profitability Metrics		 - - - - -
Gross Margin		 0.00% 81.79% 85.93% 86.06% 84.57%
EBITDA Margin		 0.00% -378.76% -319.19% -86.28% -72.10%
Operating Margin		 0.00% -293.91% -294.28% -122.88% -59.68%
EBIT Margin		 0.00% -381.97% -322.88% -92.94% -75.81%
Profit (Net Income) Margin		 0.00% -380.60% -320.69% -102.09% -86.88%
Tax Burden Percent		 100.00% 100.02% 100.02% 100.02% 100.02%
Interest Burden Percent		 101.36% 99.62% 99.31% 109.82% 114.57%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% -24.08% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 453.93% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% -18.63% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 2.06% -42.71% 301.42% 113.47% 131.29%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 0.00% -34.75% -256.56% -112.64% -115.45%
Return on Assets (ROA)		 0.00% -34.63% -254.82% -123.72% -132.30%
Return on Common Equity (ROCE)		 -0.17% 37.32% 1,556.45% 113.47% 131.31%
Return on Equity Simple (ROE_SIMPLE)		 -28.52% 26.76% 219.33% 116.03% 0.00%
Net Operating Profit after Tax (NOPAT)		 -3.04 -26 -38 -25 -19
NOPAT Margin		 0.00% -205.74% -206.00% -86.02% -41.78%
Net Nonoperating Expense Percent (NNEP)		 -2,275.61% -478.01% -200.37% 530.81% 155.66%
Return On Investment Capital (ROIC_SIMPLE)		 - - 140.89% 664.45% 2,314.38%
Cost of Revenue to Revenue		 0.00% 18.21% 14.07% 13.94% 15.43%
SG&A Expenses to Revenue		 0.00% 100.69% 127.02% 61.04% 47.53%
R&D to Revenue		 0.00% 172.27% 161.17% 60.10% 33.14%
Operating Expenses to Revenue		 0.00% 375.70% 380.21% 208.94% 144.25%
Earnings before Interest and Taxes (EBIT)		 4.70 -47 -60 -27 -34
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 4.70 -47 -59 -25 -33
Valuation Ratios		 - - - - -
Price to Book Value (P/BV)		 0.00 0.00 0.00 0.00 0.00
Price to Tangible Book Value (P/TBV)		 0.00 0.00 0.00 0.00 0.00
Price to Revenue (P/Rev)		 0.00 25.28 12.01 5.19 7.72
Price to Earnings (P/E)		 64.76 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 1.54% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.39 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.00 37.75 11.38 5.65 8.00
Enterprise Value to EBITDA (EV/EBITDA)		 118.87 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 118.87 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 2.04 0.00 0.00 0.00
Leverage & Solvency		 - - - - -
Debt to Equity		 0.00 0.00 0.00 -0.85 -0.98
Long-Term Debt to Equity		 0.00 0.00 0.00 -0.85 -0.98
Financial Leverage		 0.00 -0.04 0.54 -0.03 -0.44
Leverage Ratio		 1.09 1.23 -1.18 -0.92 -0.99
Compound Leverage Factor		 1.10 1.23 -1.17 -1.01 -1.14
Debt to Total Capital		 0.23% 0.00% 0.00% -579.63% -4,054.72%
Short-Term Debt to Total Capital		 0.23% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% -579.63% -4,054.72%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 106.92% -1,330.79% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 -7.15% 1,430.79% 100.00% 679.63% 4,155.21%
Debt to EBITDA		 0.12 0.00 0.00 -0.87 -1.02
Net Debt to EBITDA		 0.07 0.00 0.00 -0.53 -0.39
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.87 -1.02
Debt to NOPAT		 -0.18 0.00 0.00 -0.87 -1.75
Net Debt to NOPAT		 -0.11 0.00 0.00 -0.54 -0.67
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.87 -1.75
Altman Z-Score		 10.70 -13.75 -18.58 -16.50 -11.29
Noncontrolling Interest Sharing Ratio		 108.27% 187.37% -416.38% 0.00% -0.01%
Liquidity Ratios		 - - - - -
Current Ratio		 0.33 0.53 1.42 2.02 2.80
Quick Ratio		 0.13 0.34 1.04 1.33 2.35
Cash Flow Metrics		 - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 230 -21 -52 -9.94
Operating Cash Flow to CapEx		 0.00% -4,933.28% -8,601.70% -11,838.55% -2,149.40%
Free Cash Flow to Firm to Interest Expense		 0.00 229,856.71 -1,314.28 -16.77 -1.79
Operating Cash Flow to Interest Expense		 0.00 -32,313.00 -3,161.13 -13.22 -3.25
Operating Cash Flow Less CapEx to Interest Expense		 0.00 -32,968.00 -3,197.88 -13.33 -3.40
Efficiency Ratios		 - - - - -
Asset Turnover		 0.00 0.09 0.79 1.21 1.52
Accounts Receivable Turnover		 0.00 0.00 7.24 6.81 7.75
Inventory Turnover		 0.00 0.00 1.30 1.24 1.96
Fixed Asset Turnover		 0.00 0.00 8.57 15.65 25.97
Accounts Payable Turnover		 0.00 0.75 0.62 1.45 2.64
Days Sales Outstanding (DSO)		 0.00 0.00 50.39 53.58 47.07
Days Inventory Outstanding (DIO)		 0.00 0.00 281.35 293.25 186.69
Days Payable Outstanding (DPO)		 0.00 485.32 584.14 251.98 138.24
Cash Conversion Cycle (CCC)		 0.00 -485.32 -252.40 94.86 95.52
Capital & Investment Metrics		 - - - - -
Invested Capital		 234 -22 -39 -12 -21
Invested Capital Turnover		 0.00 0.12 -0.61 -1.15 -2.69
Increase / (Decrease) in Invested Capital		 0.00 -255 -17 27 -8.92
Enterprise Value (EV)		 559 468 211 166 361
Market Capitalization		 309 313 222 153 349
Book Value per Share		 ($0.53) ($5.64) ($1.03) ($0.85) ($0.68)
Tangible Book Value per Share		 ($0.53) ($5.67) ($1.03) ($0.85) ($0.68)
Total Capital		 234 -12 -27 -3.81 -0.82
Total Debt		 0.54 0.00 0.00 22 33
Total Long-Term Debt		 0.00 0.00 0.00 22 33
Net Debt		 0.34 -9.41 -12 14 13
Capital Expenditures (CapEx)		 0.00 0.66 0.59 0.35 0.84
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -0.73 -25 -5.60 1.92 0.31
Debt-free Net Working Capital (DFNWC)		 -0.53 -15 6.18 10 21
Net Working Capital (NWC)		 -1.08 -15 6.18 10 21
Net Nonoperating Expense (NNE)		 -7.81 22 21 4.73 20
Net Nonoperating Obligations (NNO)		 0.34 -9.41 -12 14 13
Total Depreciation and Amortization (D&A)		 0.00 0.40 0.68 1.96 1.68
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -198.07% -30.26% 6.51% 0.68%
Debt-free Net Working Capital to Revenue		 0.00% -122.14% 33.36% 35.48% 45.95%
Net Working Capital to Revenue		 0.00% -122.14% 33.36% 35.48% 45.95%
Earnings Adjustments		 - - - - -
Adjusted Basic Earnings per Share		 $0.30 $0.38 ($6.73) ($1.31) ($1.84)
Adjusted Weighted Average Basic Shares Outstanding		 31.25M 29.61M 9.40M 25.33M 37.90M
Adjusted Diluted Earnings per Share		 $0.30 $0.38 ($6.73) ($1.31) ($1.84)
Adjusted Weighted Average Diluted Shares Outstanding		 31.25M 29.61M 9.40M 25.33M 37.90M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 31.25M 8.20M 0.00 32.27M 61.31M
Normalized Net Operating Profit after Tax (NOPAT)		 -2.13 -26 -38 -25 -19
Normalized NOPAT Margin		 0.00% -205.74% -206.00% -86.02% -41.78%
Pre Tax Income Margin		 0.00% -380.53% -320.64% -102.07% -86.86%
Debt Service Ratios		 - - - - -
EBIT to Interest Expense		 0.00 -47,357.00 -3,735.56 -8.85 -6.17
NOPAT to Interest Expense		 0.00 -25,507.30 -2,383.28 -8.19 -3.40
EBIT Less CapEx to Interest Expense		 0.00 -48,012.00 -3,772.31 -8.96 -6.33
NOPAT Less CapEx to Interest Expense		 0.00 -26,162.30 -2,420.03 -8.30 -3.55
Payout Ratios		 - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% -0.03% 0.00% -3.95%

Quarterly Metrics And Ratios for TriSalus Life Sciences

This table displays calculated financial ratios and metrics derived from TriSalus Life Sciences' official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 7,394,794.00 26,316,681.00 26,316,681.00 27,159,327.00 29,311,498.00 - 64,544,924.00 37,838,962.00 49,867,279.00 49,964,311.00 61,306,437.00
DEI Adjusted Shares Outstanding		 7,394,794.00 26,316,681.00 26,316,681.00 27,159,327.00 29,311,498.00 - 64,544,924.00 37,838,962.00 49,867,279.00 49,964,311.00 61,306,437.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.25 -1.39 -0.53 -0.19 -0.11 - -0.17 -0.24 -0.83 -0.17 0.03
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 32.37% -32.48% 116.39% 59.67% 41.52% 44.37% 41.97% 52.27% 57.38% 59.85% -2.92%
EBITDA Growth		 84.64% 18.75% -61.78% 78.83% 2.48% 76.34% 32.70% -113.50% -691.97% 7.53% 136.77%
EBIT Growth		 81.12% 18.50% -60.09% 74.67% 7.74% 74.72% 30.52% -97.52% -571.09% 6.81% 130.48%
NOPAT Growth		 -129.52% 47.74% -15.32% 28.51% 53.06% 47.10% 37.21% 10.30% -3.15% 56.85% -63.52%
Net Income Growth		 82.39% 19.45% -59.72% 69.00% -68.35% 71.72% 21.44% -91.32% -350.65% 3.51% 114.83%
EPS Growth		 99.46% 121.91% -5.26% 99.41% 14.29% -101.28% 35.00% -28.57% -700.00% 42.11% 107.69%
Operating Cash Flow Growth		 5.32% -10.43% -3.47% -45.32% 49.93% 37.81% 58.60% 45.46% 65.81% 56.47% -44.03%
Free Cash Flow Firm Growth		 1,587.11% -97.00% -82.79% -94.85% -103.73% -548.50% -174.11% -203.69% 83.96% 120.84% 52.76%
Invested Capital Growth		 -105.36% -78.68% -616.34% -1,105.17% 22.12% 68.24% 59.71% 37.88% -48.50% -72.31% 31.93%
Revenue Q/Q Growth		 12.60% 10.19% 12.85% 14.05% -0.20% 12.41% 10.97% 22.32% 3.15% 14.17% -32.61%
EBITDA Q/Q Growth		 90.97% -2,767.47% 63.43% 77.64% 58.40% -891.47% -1.16% 26.86% -54.30% 16.48% 140.22%
EBIT Q/Q Growth		 89.02% -2,238.06% 63.01% 73.33% 60.00% -540.69% -1.51% 24.18% -35.90% 10.91% 133.20%
NOPAT Q/Q Growth		 -62.81% 23.16% 18.40% 29.97% -6.91% 13.41% 3.31% -0.04% -22.94% 63.71% -266.39%
Net Income Q/Q Growth		 89.80% -2,404.98% 63.00% 67.20% 44.62% -320.80% -2.64% 20.12% -30.44% 9.79% 115.78%
EPS Q/Q Growth		 99.61% 21,371.43% -102.01% 65.00% 42.86% -216.67% -2.63% 30.77% -255.56% 77.08% 113.64%
Operating Cash Flow Q/Q Growth		 -134.54% 57.64% -18.42% -23.51% 19.18% 47.39% 21.17% -62.70% 49.33% 33.03% -160.87%
Free Cash Flow Firm Q/Q Growth		 2.99% -97.05% 439.47% -68.59% -174.64% -254.59% 10.88% 56.05% 88.45% 560.75% -302.03%
Invested Capital Q/Q Growth		 -703.44% -201.19% -0.13% 50.26% 48.08% -22.81% -27.05% 23.32% -24.13% -42.50% 49.81%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 88.66% 89.83% 84.96% 87.62% 86.34% 85.28% 83.69% 83.93% 83.52% 86.66% 86.18%
EBITDA Margin		 -24.09% -626.91% -203.14% -39.83% -16.60% -102.74% -96.30% -55.85% -83.54% -61.11% 36.48%
Operating Margin		 -358.48% -249.98% -180.77% -111.00% -118.91% -91.60% -79.95% -65.39% -77.94% -24.77% -94.52%
EBIT Margin		 -29.60% -628.03% -205.85% -48.14% -19.30% -109.97% -100.74% -62.45% -82.28% -64.20% 31.63%
Profit (Net Income) Margin		 -27.44% -623.84% -204.52% -58.83% -32.64% -122.20% -113.18% -73.91% -93.47% -73.86% 17.29%
Tax Burden Percent		 100.00% 100.00% 100.02% 100.16% 99.88% 99.99% 100.05% 99.96% 100.05% 100.00% 99.74%
Interest Burden Percent		 92.71% 99.33% 99.33% 122.00% 169.39% 111.13% 112.29% 118.41% 113.56% 115.04% 54.81%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.26%
Return on Invested Capital (ROIC)		 -46.87% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 -163.24% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 13.15% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -33.72% 301.42% 449.45% 401.56% 931.33% 113.47% 78.55% 143.07% 167.87% 131.29% 253.33%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Operating Return on Assets (OROA)		 -4.42% -499.02% -235.65% -53.32% -17.00% -133.28% -139.22% -60.95% -103.47% -97.76% 28.51%
Return on Assets (ROA)		 -4.10% -495.69% -234.12% -65.15% -28.77% -148.10% -156.41% -72.14% -117.56% -112.47% 15.59%
Return on Common Equity (ROCE)		 0.43% 1,556.45% 766.19% 579.24% 931.64% 113.47% 78.55% 143.07% 167.88% 131.31% 253.33%
Return on Equity Simple (ROE_SIMPLE)		 -801.04% 0.00% 184.12% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -13 -10 -8.17 -5.72 -6.12 -5.30 -5.13 -5.13 -6.31 -2.29 -8.39
NOPAT Margin		 -250.94% -174.99% -126.54% -77.70% -83.24% -64.12% -55.96% -45.77% -54.55% -17.34% -94.27%
Net Nonoperating Expense Percent (NNEP)		 116.37% -242.40% -366.55% -44.30% 67.65% 538.51% 71.22% 51.68% 40.55% 57.05% 415.84%
Return On Investment Capital (ROIC_SIMPLE)		 - 37.00% 23.40% 199.85% -491.74% 139.03% 192.07% -36.36% -86.79% 280.94% -18.28%
Cost of Revenue to Revenue		 11.34% 10.17% 15.04% 12.38% 13.66% 14.72% 16.31% 16.07% 16.48% 13.34% 13.82%
SG&A Expenses to Revenue		 173.79% 105.54% 71.66% 53.72% 64.32% 56.36% 57.23% 50.45% 57.57% 31.59% 61.25%
R&D to Revenue		 183.05% 136.33% 90.51% 63.36% 57.41% 35.66% 32.96% 34.99% 44.75% 19.46% 36.14%
Operating Expenses to Revenue		 447.14% 339.81% 265.73% 198.61% 205.25% 176.88% 163.64% 149.32% 161.46% 111.43% 180.69%
Earnings before Interest and Taxes (EBIT)		 -1.54 -36 -13 -3.55 -1.42 -9.09 -9.24 -7.00 -9.52 -8.48 2.82
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -1.25 -36 -13 -2.93 -1.22 -8.49 -8.83 -6.26 -9.66 -8.07 3.25
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 4.46 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 19.15
Price to Tangible Book Value (P/TBV)		 5.06 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 19.15
Price to Revenue (P/Rev)		 1.78 12.01 11.67 6.06 5.02 5.19 5.24 4.89 5.77 7.72 5.46
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 0.78 11.38 11.49 6.26 5.41 5.65 5.82 5.08 6.05 8.00 4.94
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.08 0.00 35.05 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 -0.88 -1.06 -0.85 -0.92 -1.73 -1.27 -0.98 2.58
Long-Term Debt to Equity		 0.00 0.00 0.00 -0.88 -1.06 -0.85 -0.92 -1.73 -1.27 -0.98 2.58
Financial Leverage		 -0.08 0.54 0.10 -0.23 0.92 -0.03 -0.21 -0.28 -0.47 -0.44 0.22
Leverage Ratio		 1.15 -1.18 -1.34 -1.64 -5.11 -0.92 -0.67 -1.69 -1.36 -0.99 -4.62
Compound Leverage Factor		 1.07 -1.18 -1.33 -2.00 -8.65 -1.02 -0.75 -2.00 -1.54 -1.14 -2.53
Debt to Total Capital		 0.00% 0.00% 0.00% -743.49% 1,742.60% -579.63% -1,186.78% 237.60% 467.61% -4,054.72% 72.09%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% -743.49% 1,742.60% -579.63% -1,186.78% 237.60% 467.61% -4,054.72% 72.09%
Preferred Equity to Total Capital		 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 99.99% 100.00% 100.00% 843.49% -1,642.85% 679.63% 1,286.78% -137.60% -367.61% 4,155.21% 27.91%
Debt to EBITDA		 0.00 0.00 0.00 -0.40 -0.41 -0.87 -1.46 -1.39 -1.04 -1.02 -1.62
Net Debt to EBITDA		 0.00 0.00 0.00 -0.09 -0.20 -0.53 -0.86 -0.29 -0.35 -0.39 1.15
Long-Term Debt to EBITDA		 0.00 0.00 0.00 -0.40 -0.41 -0.87 -1.46 -1.39 -1.04 -1.02 -1.62
Debt to NOPAT		 0.00 0.00 0.00 -0.58 -0.72 -0.87 -1.42 -1.55 -1.55 -1.75 -1.69
Net Debt to NOPAT		 0.00 0.00 0.00 -0.13 -0.35 -0.54 -0.84 -0.33 -0.52 -0.67 1.20
Long-Term Debt to NOPAT		 0.00 0.00 0.00 -0.58 -0.72 -0.87 -1.42 -1.55 -1.55 -1.75 -1.69
Altman Z-Score		 -6.79 -15.39 -18.86 -8.90 -10.62 -13.99 -11.96 -7.22 -9.14 -8.88 -2.24
Noncontrolling Interest Sharing Ratio		 101.28% -416.38% -70.47% -44.25% -0.03% 0.00% 0.00% 0.00% -0.01% -0.01% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.12 1.42 0.92 2.33 2.40 2.02 2.14 4.08 3.05 2.80 5.78
Quick Ratio		 2.63 1.04 0.57 1.77 1.63 1.33 1.57 3.44 2.54 2.35 5.24
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 240 7.09 38 12 -8.97 -32 -28 -12 -1.44 6.63 -13
Operating Cash Flow to CapEx		 -12,169.66% -2,466.94% -16,465.15% -22,370.00% -6,418.34% -11,414.00% -630.11% 0.00% -2,107.39% -6,058.54% -4,595.74%
Free Cash Flow to Firm to Interest Expense		 60,116.63 2,363.73 12,751.67 13.70 -7.85 -29.78 -23.45 -8.76 -0.99 4.57 -9.33
Operating Cash Flow to Interest Expense		 -5,415.50 -3,059.00 -3,622.33 -15.30 -9.50 -5.34 -3.72 -5.14 -2.54 -1.71 -4.51
Operating Cash Flow Less CapEx to Interest Expense		 -5,460.00 -3,183.00 -3,644.33 -15.37 -9.65 -5.39 -4.31 -5.08 -2.66 -1.74 -4.61
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.15 0.79 1.14 1.11 0.88 1.21 1.38 0.98 1.26 1.52 0.90
Accounts Receivable Turnover		 0.00 7.24 0.00 0.00 6.75 6.81 6.61 7.00 8.11 7.75 8.41
Inventory Turnover		 0.00 1.30 0.00 0.00 1.23 1.24 1.31 1.52 1.76 1.96 1.69
Fixed Asset Turnover		 0.00 8.57 0.00 0.00 14.48 15.65 16.34 20.33 22.07 25.97 22.96
Accounts Payable Turnover		 2.65 0.62 1.48 1.31 2.07 1.45 1.80 2.85 2.45 2.64 1.90
Days Sales Outstanding (DSO)		 0.00 50.39 0.00 0.00 54.05 53.58 55.25 52.11 44.99 47.07 43.38
Days Inventory Outstanding (DIO)		 0.00 281.35 0.00 0.00 296.08 293.25 279.06 239.83 206.84 186.69 216.28
Days Payable Outstanding (DPO)		 137.91 584.14 246.87 277.65 175.98 251.98 203.29 128.28 148.70 138.24 191.71
Cash Conversion Cycle (CCC)		 -137.91 -252.40 -246.87 -277.65 174.15 94.86 131.02 163.66 103.13 95.52 67.95
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -13 -39 -39 -19 -10 -12 -16 -12 -15 -21 -11
Invested Capital Turnover		 0.19 -0.61 -1.40 -2.36 -2.34 -1.15 -1.18 -2.30 -3.22 -2.69 -3.41
Increase / (Decrease) in Invested Capital		 -253 -17 -46 -18 2.85 27 23 7.33 -4.87 -8.92 5.00
Enterprise Value (EV)		 16 211 253 155 146 166 187 183 243 361 222
Market Capitalization		 38 222 257 150 135 153 168 176 232 349 245
Book Value per Share		 $1.15 ($1.03) ($1.33) ($0.89) ($0.70) ($0.85) ($1.13) ($0.60) ($0.54) ($0.68) $0.21
Tangible Book Value per Share		 $1.01 ($1.03) ($1.37) ($0.93) ($0.70) ($0.85) ($1.13) ($0.60) ($0.54) ($0.68) $0.21
Total Capital		 8.49 -27 -35 -2.86 1.24 -3.81 -2.67 14 7.27 -0.82 46
Total Debt		 0.00 0.00 0.00 21 22 22 32 34 34 33 33
Total Long-Term Debt		 0.00 0.00 0.00 21 22 22 32 34 34 33 33
Net Debt		 -21 -12 -3.97 4.81 10 14 19 7.05 11 13 -23
Capital Expenditures (CapEx)		 0.18 0.37 0.07 0.06 0.17 0.05 0.71 -0.09 0.18 0.04 0.14
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -1.65 -5.60 -5.17 -0.54 2.60 1.92 0.34 2.27 -0.27 0.31 -0.20
Debt-free Net Working Capital (DFNWC)		 20 6.18 -1.20 16 14 10 13 29 22 21 56
Net Working Capital (NWC)		 20 6.18 -1.20 16 14 10 13 29 22 21 56
Net Nonoperating Expense (NNE)		 -12 26 5.04 -1.39 -3.72 4.80 5.24 3.16 4.50 7.46 -9.93
Net Nonoperating Obligations (NNO)		 -21 -12 -3.97 4.81 10 14 19 7.41 12 13 -23
Total Depreciation and Amortization (D&A)		 0.29 0.06 0.18 0.61 0.20 0.60 0.41 0.74 -0.15 0.41 0.43
Debt-free, Cash-free Net Working Capital to Revenue		 -7.75% -30.26% -23.53% -2.17% 9.68% 6.51% 1.07% 6.31% -0.67% 0.68% -0.45%
Debt-free Net Working Capital to Revenue		 92.81% 33.36% -5.47% 64.46% 51.65% 35.48% 41.51% 79.91% 55.76% 45.95% 125.55%
Net Working Capital to Revenue		 92.81% 33.36% -5.47% 64.46% 51.65% 35.48% 41.51% 79.91% 55.76% 45.95% 125.55%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.13) $29.78 ($0.60) ($0.21) ($0.12) ($0.38) ($0.39) ($0.27) ($0.96) ($0.22) $0.03
Adjusted Weighted Average Basic Shares Outstanding		 13.17M 9.40M 23.32M 23.90M 26.50M 25.33M 28.53M 32.90M 43.06M 37.90M 51.54M
Adjusted Diluted Earnings per Share		 ($0.13) $29.78 ($0.60) ($0.21) ($0.12) ($0.38) ($0.39) ($0.27) ($0.96) ($0.22) $0.03
Adjusted Weighted Average Diluted Shares Outstanding		 13.17M 9.40M 23.32M 23.90M 26.50M 25.33M 28.53M 32.90M 43.06M 37.90M 52.31M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.32M 0.00 27.16M 29.31M 30.49M 32.27M 37.84M 49.87M 49.96M 61.31M 61.42M
Normalized Net Operating Profit after Tax (NOPAT)		 -13 -10 -8.17 -5.72 -6.12 -5.30 -5.13 -5.13 -6.31 -2.29 -8.39
Normalized NOPAT Margin		 -250.94% -174.99% -126.54% -77.70% -83.24% -64.12% -55.96% -45.77% -54.55% -17.34% -94.27%
Pre Tax Income Margin		 -27.44% -623.82% -204.48% -58.73% -32.68% -122.21% -113.12% -73.94% -93.43% -73.86% 17.34%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -384.25 -11,978.67 -4,430.67 -4.04 -1.24 -8.51 -7.64 -4.92 -6.52 -5.84 1.96
NOPAT to Interest Expense		 -3,257.80 -3,337.60 -2,723.47 -6.52 -5.36 -4.96 -4.24 -3.61 -4.32 -1.58 -5.84
EBIT Less CapEx to Interest Expense		 -428.75 -12,102.67 -4,452.67 -4.11 -1.39 -8.55 -8.23 -4.86 -6.64 -5.87 1.86
NOPAT Less CapEx to Interest Expense		 -3,302.30 -3,461.60 -2,745.47 -6.59 -5.50 -5.01 -4.83 -3.54 -4.44 -1.61 -5.94
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.03% 0.00% 0.00% 0.00% 0.00% 0.00% -4.97% -3.91% -3.95% 0.00%

Financials Breakdown Chart

Key Financial Trends

TriSalus Life Sciences (NASDAQ: TLSI) showed meaningful top-line growth in Q1 2026, but the quarter also highlighted a still-loss-making business that is heavily dependent on financing and non-operating gains. Revenue improved year over year, cash on the balance sheet jumped sharply, and the company raised a significant amount of equity. At the same time, operating cash burn remained substantial, and the balance sheet still carries a heavy debt load.

  • Revenue grew year over year in Q1 2026. Sales rose to $8.9 million from $6.5 million in Q1 2025, showing continued commercial momentum.
  • Gross profit improved alongside revenue. Gross profit was $7.7 million in Q1 2026, up from $7.7 million a year earlier on a slightly larger revenue base and still solid gross margin profile.
  • Cash increased sharply. Cash and equivalents rose to $56.6 million at March 31, 2026, compared with $13.0 million at March 31, 2025, giving the company a much larger liquidity cushion.
  • Equity financing materially strengthened the balance sheet. TLSI raised $42.6 million from common equity issuance in Q1 2026, which helped drive a $35.8 million increase in cash during the quarter.
  • Q1 2026 was profitable on a reported basis. Net income was $1.5 million, a big improvement from a $10.4 million loss in Q1 2025.
  • Operating expenses remain elevated. The company spent $16.1 million on operating expenses in Q1 2026, compared with $15.0 million in Q1 2025, so cost discipline is still a work in progress.
  • Non-operating items still play an outsized role. Q1 2026 pre-tax income of $1.5 million was helped by other income, meaning operating performance alone is still negative.
  • Share count has risen over time. Weighted average diluted shares were 52.3 million in Q1 2026 versus 28.5 million in Q1 2025, which can pressure per-share results.
  • Operating cash flow was deeply negative. TLSI used $6.5 million of operating cash in Q1 2026, worse than the $4.5 million used in Q1 2025.
  • Debt remains significant. Long-term debt was $33.1 million at quarter-end, and total liabilities were $58.2 million, leaving the company with a leveraged capital structure.

Looking at the last four quarters, TLSI’s revenue has trended upward from $6.5 million in Q1 2024 to $8.9 million in Q1 2026, but profitability has remained inconsistent and often dependent on one-time or non-core items. Quarterly operating income has stayed negative throughout the period, and cash from operations has generally been negative as well.

The balance sheet tells a similar story: liquidity improved materially in the latest quarter, but equity has historically been under pressure and liabilities remain large relative to the business. For investors, the key question is whether TriSalus can convert revenue growth into sustained operating leverage before dilution and debt become a bigger burden.

07/11/26 04:48 PM ETAI Generated. May Contain Errors.

TriSalus Life Sciences Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TriSalus Life Sciences' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

TriSalus Life Sciences' net income appears to be on an upward trend, with a most recent value of -$39.23 million in 2025, falling from $4.77 million in 2021. The previous period was -$30.05 million in 2024.

TriSalus Life Sciences' total operating income in 2025 was -$26.95 million, based on the following breakdown:
  • Total Gross Profit: $38.19 million
  • Total Operating Expenses: $65.13 million

Over the last 4 years, TriSalus Life Sciences' total revenue changed from $0.00 in 2021 to $45.15 million in 2025, a change of 4,515,100,000.0%.

TriSalus Life Sciences' total liabilities were at $69.19 million at the end of 2025, a 38.8% increase from 2024, and a 194.5% increase since 2020.

In the past 5 years, TriSalus Life Sciences' cash and equivalents has ranged from $200.88 thousand in 2021 to $20.44 million in 2025, and is currently $20.44 million as of their latest financial filing in 2025.

Over the last 4 years, TriSalus Life Sciences' book value per share changed from -0.53 in 2021 to -0.68 in 2025, a change of 26.7%.


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Financial statements for NASDAQ:TLSIW last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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