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NASDAQ · SURGICAL & MEDICAL INSTRUMENTS & APPARATUS · SMALL CAP

TriSalus Life Sciences, Inc. TLSI

5 fiscal years on record · USD · FY2025 reported · SEC filings only
$45.2M
▲ 53.4% YoY
$-39.2M
$-18.9M

Slide the table for earlier years · "·" marks a figure not available in our data for that year.

In brief

What this company does

The company's delivery method, Pressure-Enabled Drug Delivery (PEDD), modulates pressure and flow within blood vessels to improve intravascular therapeutic delivery into tumors thereby increasing the likelihood of tumor response in comparison to conventional delivery technologies. The company's on-market, 510(k) cleared device, the TriNav Infusion System, using PEDD technology is currently being used for interventional radiology procedures, most commonly transarterial radioembolization and transarterial chemoembolization in patients with primary liver cancer or in patients with liver metastases. As of December 31, 2025, the company had approximately 102 full-time employees, none of whom are represented by a labor union or covered under a collective bargaining agreement.

Written from the business description in TriSalus Life Sciences, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 5 March 2026. Every sentence was checked against that document before publication.

Growth

USD 45.2M
Revenue, FY2025 · full 5-year series below
Revenue $M Net income $M
FY2025 · Revenue 45.2 · Net income -39.2
20.0M40.0M-25.0M-50.0M
202120242025
Compound annual growth
+53.9%
3 yrs
5 yrs
10 yrs
15 yrs

Compound annual rates per period — left blank where that exact year isn't on file, the series crosses a loss, or (per-share rows) a split falls inside the window.

Profitability

−87 cents
lost on every revenue dollar
Operating margin Net margin
FY2025 · Operating -59.7% · Net -86.9%
20%40%-100%-200%-300%
202120232025
ROE

Not applicable: equity was zero or negative in this period, so return on equity has no meaning.

Three returns, three denominators.
Return on equityNot applicable: equity was zero or negative in this period, so return on equity has no meaning.

Return on equity has no reading this year — return on capital employed, just below, still does: -143%.

Cash & shareholders

·
returned in FY2025 · dividends + net buybacks
Free cash flow $M
FY2025 · FCF -18.9
-20M-40M
202120232025
Net buybacks $M Dividends $M
FY2022 · Dividends · · Net buybacks 232.3
100M200M
2022

Total assetsUSD 35.3M
EquityUSD -33.9M
CashUSD 20.4M
Gross debtUSD 33.0M
Net debtUSD 12.6M
Current ratio2.80×

Equity was zero or negative — liabilities equaled or exceeded assets. No ratio is shown.

The 5-year record

5 fiscal years
Every figure from documents filed with the SEC · USD

EPS, diluted, dividend per share and shares outstanding are shown without shading, and a vertical line marks the year the share count changed — the series crosses a large, unexplained change in share count, so the years on either side are not on a comparable scale.

row low → row highnegative—not applicable◌not available in our data
TLSI, 5-year financial record
Metric 20252024202320222021
Revenue $B0.00.00.00.0◌
Operating income $B−0.0−0.0−0.1−0.0−0.0
EBITDA $B−0.0−0.0−0.1−0.0◌
Income tax $B0.00.00.00.00.0
Net income $B−0.0−0.0−0.1−0.00.0
Free cash flow $B−0.0−0.0−0.1−0.0◌
EPS, diluted $−1.84−1.31−6.77−161.55◌
Dividend / sh $◌◌◌◌◌
Payout % — not applicable: no dividend—————
ROE % — not applicable: negative equity—————
Shares out B0.050.030.030.00◌

Slide the table for earlier years. "—" not applicable · "◌" not available in our data.

More in this sector

Other companies filing in the same sector

Provenance

Company facts, as filed

How we verify · 0 failures in 26 reconciliationsAUDITED

Reconciled in 5 of the 5 fiscal years we could check. 26 checks were skipped: the balance sheet is not tagged before 2020. 15 checks were skipped: the share count is not tagged before 2022. 15 checks were skipped: revenue is not tagged before 2022.

EPS recomputationBalance-sheet identityGross profitBalance-sheet liquidityCurrency consistency0 failures
ActivitySurgical & Medical Instruments & Apparatus
Listed onNASDAQ
Incorporated inDelaware
Fiscal year endsDecember 31
SEC categorysmaller reporting company
Data on record since2020

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