TLSI · Trisalus Life Sciences, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $8.90M | - | $11.57M | $11.21M | $9.17M | - | $7.35M | $7.36M | $6.46M | - |
| Cost of Revenue | $1.23M | - | $1.91M | $1.80M | $1.50M | - | $1.00M | $772.0K | $971.0K | - |
| Gross Profit | $7.67M | - | $9.66M | $9.41M | $7.67M | - | $6.34M | $3.84M | $5.49M | - |
| R&D | $3.22M | - | $5.18M | $3.92M | $3.30M | - | $4.22M | $6.89M | $5.86M | - |
| SG&A | $5.45M | - | $6.66M | $5.66M | $4.97M | - | $4.73M | $3.96M | $4.63M | - |
| Total Operating Expenses | - | - | - | - | - | - | - | - | - | - |
| D&A | $135.0K | - | - | - | $172.0K | - | - | - | $188.0K | - |
| Operating Income | ($8.41M) | - | ($9.01M) | ($7.33M) | ($7.33M) | - | ($8.74M) | ($8.17M) | ($11.69M) | - |
| Interest Expense | $1.44M | - | $1.46M | $877.0K | $3.0K | - | $1.14M | $4.0K | $3.0K | - |
| Income Tax | $4.0K | - | $5.0K | ($3.0K) | $5.0K | - | ($3.0K) | $7.0K | $3.0K | - |
| Net Income | $1.54M | - | ($10.81M) | ($8.29M) | ($10.38M) | - | ($2.40M) | ($4.33M) | ($13.22M) | - |
| EPS - Basic | $0.03 | - | ($0.96) | ($0.27) | ($0.39) | - | ($0.12) | ($35.84) | ($0.60) | - |
| EPS - Diluted | $0.03 | - | ($0.96) | ($0.27) | ($0.39) | - | ($0.12) | ($0.21) | ($0.60) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $56.55M | $20.44M | $22.69M | $26.49M | $13.00M | $8.53M | $11.29M | $16.48M | $3.97M | $11.78M |
| Accounts Receivable | $5.10M | $6.56M | $5.00M | $5.57M | $3.60M | $5.09M | $4.91M | $4.71M | $4.28M | $3.55M |
| Inventory | $3.78M | $3.08M | $3.28M | $3.81M | $4.16M | $4.05M | $4.00M | $3.44M | $2.91M | $2.54M |
| Accounts Payable | $4.23M | $3.00M | $3.78M | $1.90M | $2.81M | $2.27M | $1.45M | $1.98M | $2.35M | $3.39M |
| Current Assets | $68.14M | $32.24M | $33.33M | $38.08M | $25.10M | $20.67M | $23.81M | $27.94M | $13.19M | $20.86M |
| Total Assets | $70.98M | $35.33M | $36.46M | $41.32M | $28.63M | $23.97M | $27.48M | $32.43M | $17.89M | $25.73M |
| Current Liabilities | $11.79M | $11.50M | $10.91M | $9.32M | $11.75M | $10.23M | $9.92M | $12.00M | $14.39M | $14.69M |
| Long-term Debt | $33.08M | $33.05M | $32.76M | $32.27M | $31.70M | $22.08M | $21.68M | $0 | - | - |
| Total Liabilities | $58.17M | $69.19M | $63.19M | $60.74M | $62.99M | $49.87M | $47.91M | $56.58M | $52.81M | $51.66M |
| Stockholders' Equity | $12.81M | ($33.86M) | ($26.73M) | ($19.42M) | ($34.37M) | ($25.89M) | ($20.43M) | ($24.15M) | ($34.92M) | ($25.94M) |
| Retained Earnings | ($329.04M) | ($330.58M) | ($320.97M) | ($298.21M) | ($289.92M) | ($279.55M) | ($269.44M) | ($265.93M) | ($261.60M) | ($248.38M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($6.48M) | - | - | - | ($4.50M) | - | - | - | ($10.87M) | - |
| Investing Cash Flow | ($141.0K) | - | - | - | ($714.0K) | - | - | - | ($66.0K) | - |
| Financing Cash Flow | $42.38M | - | - | - | $9.69M | - | - | - | $3.13M | - |
| CapEx | $141.0K | - | - | - | $754.0K | - | - | - | $66.0K | - |
| Free Cash Flow | ($6.62M) | - | - | - | ($5.25M) | - | - | - | ($10.93M) | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 86.2% | - | 83.5% | 83.9% | 83.7% | - | 86.3% | 52.1% | 85.0% | - |
| Operating margin | -94.5% | - | -77.9% | -65.4% | -79.9% | - | -118.9% | -111.0% | -181.0% | - |
| EBITDA margin | -93.0% | - | - | - | -78.1% | - | - | - | -178.1% | - |
| Net margin | 17.3% | - | -93.5% | -73.9% | -113.2% | - | -32.6% | -58.8% | -204.7% | - |
| Free cash flow margin | -74.4% | - | - | - | -57.3% | - | - | - | -169.3% | - |
| FCF / Net income | -4.30 | - | - | - | 0.51 | - | - | - | 0.83 | - |
| R&D / Revenue | 36.1% | - | 44.8% | 35.0% | 36.0% | - | 57.4% | 93.5% | 90.7% | - |
| SG&A / Revenue | 61.3% | - | 57.6% | 50.5% | 54.2% | - | 64.3% | 53.7% | 71.7% | - |
| Effective tax rate | 0.3% | - | - | - | - | - | - | - | - | - |
| Return on assets | 2.2% | - | -29.6% | -20.1% | -36.2% | - | -8.7% | -13.4% | -73.9% | - |
| Return on equity | 12.0% | - | 40.5% | 42.7% | 30.2% | - | 11.7% | 17.9% | 37.9% | - |
| Return on invested capital | -18.3% | - | -117.9% | -45.1% | - | - | -555.0% | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 5.78 | 2.80 | 3.05 | 4.08 | 2.14 | 2.02 | 2.40 | 2.33 | 0.92 | 1.42 |
| Quick ratio | 5.46 | 2.54 | 2.75 | 3.68 | 1.78 | 1.63 | 2.00 | 2.04 | 0.71 | 1.25 |
| Cash ratio | 4.80 | 1.78 | 2.08 | 2.84 | 1.11 | 0.83 | 1.14 | 1.37 | 0.28 | 0.80 |
| Leverage | ||||||||||
| Debt / Equity | 2.58 | -0.98 | -1.23 | -1.66 | -0.92 | -0.85 | -1.06 | 0.00 | - | - |
| Debt / Assets | 0.47 | 0.94 | 0.90 | 0.78 | 1.11 | 0.92 | 0.79 | 0.00 | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -5.9x | - | -6.2x | -8.4x | -2443.0x | - | -7.7x | -2043.5x | -3895.0x | - |
| Equity multiplier | 5.54 | -1.04 | -1.36 | -2.13 | -0.83 | -0.93 | -1.34 | -1.34 | -0.51 | -0.99 |
| Liabilities / Assets | 0.82 | 1.96 | 1.73 | 1.47 | 2.20 | 2.08 | 1.74 | 1.74 | 2.95 | 2.01 |
| Efficiency | ||||||||||
| Asset turnover | 0.13 | - | 0.32 | 0.27 | 0.32 | - | 0.27 | 0.23 | 0.36 | - |
| Inventory turnover | 0.33 | - | 0.58 | 0.47 | 0.36 | - | 0.25 | 0.22 | 0.33 | - |
| Days sales outstanding | 209d | - | 158d | 181d | 143d | - | 244d | 233d | 242d | - |
| Days inventory outstanding | 1121d | - | 627d | 771d | 1016d | - | 1454d | 1628d | 1095d | - |
| Days payable outstanding | 1256d | - | 725d | 385d | 685d | - | 526d | 934d | 883d | - |
| Cash conversion cycle | 74d | - | 61d | 567d | 474d | - | 1172d | 927d | 454d | - |
| Valuation | ||||||||||
| P / E | 133.3x | - | - | - | - | - | - | - | - | - |
| P / B | 16.3x | - | - | - | - | - | - | - | - | - |
| P / S | 23.5x | - | 17.3x | 16.0x | 17.2x | - | 16.6x | 17.9x | 35.2x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | -2.9% | - | 57.4% | 52.3% | 42.0% | - | 41.5% | - | - | - |
| Revenue CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | -0.0% | - | 52.2% | 145.1% | 39.8% | - | 37.8% | - | - | - |
| Operating income growth (YoY) | -14.8% | - | -3.1% | 10.3% | 37.3% | - | 52.7% | -471.6% | -1285.6% | - |
| Net income growth (YoY) | - | - | -350.6% | -91.3% | 21.5% | - | -86.5% | -335.4% | -2850.0% | - |
| EPS growth (YoY) | - | - | -700.0% | -28.6% | 35.0% | - | 7.7% | - | - | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -26.0% | - | - | - | 52.0% | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | - | -30.8% | -30.8% | 19.6% | 1.6% | 0.2% | - | -59.7% | -152.1% | -95.5% |
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing TriSalus Life Sciences against the 5 most active filers in the same SIC group.