TriSalus Life Sciences, Inc.

NASDAQ•TLSI

CEO: Ms. Mary T. Szela B.S.N., M.B.A.

Sector: Healthcare

Industry: Medical - Devices

Listing Date: 2021-02-08

TriSalus Life Sciences, Inc., a medical technology company, researches, develops, and sells drug delivery technologies and immune-oncology therapeutics for the treatment of liver and pancreatic cancer. The company offers Pressure Enabled Drug Delivery infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial, for locally advanced pancreatic cancer. It also develops nelitolimod, an investigational immunotherapeutic in Phase 1 clinical trial for the treatment of uveal melanoma with liver metastases, hepatocellular carcinoma, intrahepatic cholangiocarcinoma, and locally advanced pancreatic ductal adenocarcinoma. The company serves interventional radiologists, IR technicians, medical oncologists, nursing support, value analysis committee staff, and patients through its sales representatives and sales managers. TriSalus Life Sciences, Inc. was founded in 2009 and is headquartered in Westminster, Colorado.

Contact Information

6272 West 91st Avenue, Westminster, CO, 80031, United States

303-442-1222

trisaluslifesci.com

Market Cap

$161.50M

P/E (TTM)

-5.1

Dividend Yield

52W High

$7.95

52W Low

$3.42

52W Range

19%

Rank37Top 34.1%

4.4

F-Score

Modified Piotroski Analysis

Based on 5-year fundamentals

Average • 4.4 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2021-2025

Financial Dashboard

Q4 2025 Data

Revenue

$13.21M+0.00%

4-Quarter Trend

EPS

-$0.21+0.00%

4-Quarter Trend

FCF

-$2.53M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

TriNav Revenue Jumps Revenue reached $45.2M in 2025, showing strong growth of 53.4% driven by increased TriNav unit sales.

Gross Profit Rises Gross profit totaled $38.2M, reflecting a 50.8% increase compared to the prior year, despite margin compression.

Cash Position Strengthened Net cash increased $11.9M in 2025, primarily supported by $30.8M provided by financing activities during the year.

Operating Loss Narrows Loss from operations improved by 25.5% to ($26.9M) due to reduced R&D spending and increased gross profit.

Risk Factors

Capital Needs Remain High Incurred $39.2M net loss in 2025; requires substantial additional capital to finance operations and future product development.

TriNav Sales Dependency Revenue relies primarily on TriNav device sales; failure to achieve continued market acceptance will severely harm future prospects.

Nelitolimod Clinical Delays Nelitolimod development is early stage; delays in clinical trials or failure to secure favorable Phase II data impact prospects.

Reimbursement Status Uncertainty Changes reducing TriNav reimbursement levels could cause sales to decline materially and impede overall market adoption.

Outlook

Seek Nelitolimod Partners Plan to explore partners following 2026 Phase I data analysis to advance nelitolimod development into Phase II trials.

Broaden PEDD Applications Expanding PEDD technology use into non-malignant areas like Uterine Artery Embolization, targeting $160.0M opportunity.

Expand US Sales Team Intend to expand specialized sales organization across the US to drive deeper hospital coverage and TriNav utilization growth.

Continue Intellectual Property Focus Continue seeking patent protection for proprietary technologies globally, owning at least 82 registered patents expiring by 2040.

Peer Comparison

Revenue (TTM)

STIM

$129.87M

+78.6%

OWLT

$105.66M

+35.3%

PRE

$95.11M

+210.6%

Gross Margin (Latest Quarter)

MXCT

92.4%

+16.1pp

SGHT

87.3%

+2.5pp

TLSI

86.7%

-2.8pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
ARMP	$435.43M	-9.2	70.3%	198.5%
CATX	$397.62M	-3.8	-39.1%	1.1%
FBRX	$354.14M	-9.7	-75.6%	0.0%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

12.9%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

Cash Flow Needs Attention

Deep Research

Next earnings:Mar 26, 2026

EPS:-$0.13

Revenue:$13.20M

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data