TriSalus Life Sciences, Inc. Warrant (TLSIW) Financials
Newest figures come from the 10-Q for Q2 FY2026, filed Aug 6, 2026. Each column of the statement tables below links to the filing it was taken from, and every filing is listed on the TLSIW SEC filings page.
TriSalus Life Sciences, Inc. Warrant (TLSIW) reported $45.1M in revenue over the twelve months to Jun 30, 2026, up 25.2% from the prior twelve months. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 5 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue growth is improving operating efficiency, but financing remains central as losses persist and equity stays negative.
At FY2025 revenue of$45.2M , the operating loss margin was-59.7% ; its improvement from FY2024 indicates more revenue is absorbing overhead, even though the company is not yet profitable. The net loss margin of-86.9% was worse than operating loss margin, while interest expense reached$5.5M , showing financing costs helped widen the gap between operating performance and bottom-line results.
The FY2025 gap between operating cash flow of
Liabilities exceeded assets by almost 2x in FY2025, leaving equity negative; therefore, the 2.8x current ratio describes near-term liquidity rather than long-term balance-sheet strength. Financing cash flow was
Financial Health Signals
TriSalus Life Sciences, Inc. Warrant does not currently provide enough eligible data for a peer-relative financial health score, so none is published. The signals and metrics below are current.
TriSalus Life Sciences, Inc. Warrant passes 4 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.
TriSalus Life Sciences, Inc. Warrant reported a net loss of $39.2M while operations used $18.0M of cash. With neither figure positive, the ratio between the two carries no quality signal.
TriSalus Life Sciences, Inc. Warrant reported an operating loss of $26.9M against $5.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
TriSalus Life Sciences, Inc. Warrant generated $11.4M in revenue in Q2 2026. This represents an increase of 1.7% from the same quarter a year earlier. Against the prior quarter it is up 28.2%.
TriSalus Life Sciences, Inc. Warrant's EBITDA was -$9.7M in Q2 2026, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 35.0% from the same quarter a year earlier. Against the prior quarter it is down 16.9%.
TriSalus Life Sciences, Inc. Warrant reported -$9.2M in net income in Q2 2026. This represents a decrease of 10.8% from the same quarter a year earlier. Against the prior quarter it is down 696.9%.
TriSalus Life Sciences, Inc. Warrant earned -$0.16 per diluted share (EPS) in Q2 2026. Against the prior quarter it is down 633.3%.
Cash & Balance Sheet
TriSalus Life Sciences, Inc. Warrant recorded an outflow of $10.2M in free cash flow in Q2 2026, representing a cash shortfall after capex. This represents a decrease of 37.7% from the same quarter a year earlier. Against the prior quarter it is down 54.2%.
TriSalus Life Sciences, Inc. Warrant held $46.3M in cash against $33.1M in long-term debt as of Q2 2026.
Not reported for Q2 2026.
Margins & Returns
TriSalus Life Sciences, Inc. Warrant's gross margin was 86.8% in Q2 2026, indicating the percentage of revenue retained after direct costs. This is up 2.8 percentage points from the same quarter a year earlier. Against the prior quarter it is up 0.6 percentage points.
TriSalus Life Sciences, Inc. Warrant's operating margin was -86.0% in Q2 2026, reflecting core business profitability. This is down 20.6 percentage points from the same quarter a year earlier. Against the prior quarter it is up 8.5 percentage points.
TriSalus Life Sciences, Inc. Warrant's net profit margin was -80.5% in Q2 2026, showing the share of revenue converted to profit. This is down 6.6 percentage points from the same quarter a year earlier. Against the prior quarter it is down 97.8 percentage points.
TriSalus Life Sciences, Inc. Warrant's ROE was -140.3% in Q2 2026, measuring profit generated per dollar of shareholder equity. Against the prior quarter it is down 152.3 percentage points.
Capital Allocation
TriSalus Life Sciences, Inc. Warrant invested $3.1M in research and development in Q2 2026. This represents a decrease of 14.5% from the same quarter a year earlier. Against the prior quarter it is down 2.5%.
TriSalus Life Sciences, Inc. Warrant invested $82K in capex in Q2 2026, funding long-term assets and infrastructure. This represents a decrease of 11.8% from the same quarter a year earlier. Against the prior quarter it is down 41.8%.
Not reported for Q2 2026.
TLSIW Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Revenue | $11.4M+1.7% | $8.9M-2.9% | $13.2M+59.8% | $11.6M+57.4% | $11.2M+52.3% | $9.2M+42.0% | $8.3M+44.4% | $7.3M+41.5% |
| Cost of Revenue | $1.5M-16.3% | $1.2M-17.7% | $1.8M+44.9% | $1.9M+89.8% | $1.8M+97.6% | $1.5M+54.0% | $1.2M+108.9% | $1.0M+70.5% |
| Gross Profit | $9.9M+5.2% | $7.7M0.0% | $11.4M+62.4% | $9.7M+52.2% | $9.4M+45.9% | $7.7M+39.8% | $7.0M+37.1% | $6.3M+37.8% |
| R&D Expenses | $3.1M-14.5% | $3.2M+6.5% | $3.1M+4.7% | $5.2M+22.7% | $3.7M-21.3% | $3.0M-48.3% | $3.0M-62.1% | $4.2M-55.6% |
| SG&A Expenses | $5.2M-12.7% | $5.5M+3.9% | $3.6M-21.8% | $6.7M+40.9% | $5.9M+49.4% | $5.2M+13.4% | $4.7M-22.9% | $4.7M-47.6% |
| Operating Income | -$9.8M-33.8% | -$8.4M-14.8% | -$3.3M+56.8% | -$9.0M-3.1% | -$7.3M+10.3% | -$7.3M+37.2% | -$7.6M+47.0% | -$8.7M+53.1% |
| EBITDA | -$9.7M-35.0% | -$8.3M-15.6% | -$3.1M+57.4% | -$8.9M-3.4% | -$7.2M+10.2% | -$7.2M+37.7% | -$7.4M+47.6% | -$8.6M+53.6% |
| Interest Expense | $1.5M+4.7% | $1.4M+18.8% | $1.5M+36.0% | $1.5M+27.8% | $1.4M+62.3% | $1.2M+40200.0% | $1.1M+35500.0% | $1.1M+28450.0% |
| Income Tax | $4K+233.3% | $4K-20.0% | $0+100.0% | $5K+266.7% | -$3K-142.9% | $5K+66.7% | -$1K-200.0% | -$3K |
| Net Income | -$9.2M-10.8% | $1.5M+114.8% | -$9.8M+3.5% | -$10.8M-350.6% | -$8.3M-91.3% | -$10.4M+21.4% | -$10.1M+71.6% | -$2.4M-68.4% |
| EPS (Basic) | -$0.16+40.7% | $0.03+107.7% | -$0.12+70.0% | -$0.96-700.0% | -$0.27-28.6% | -$0.39+35.0% | -$0.40+61.9% | -$0.12+14.3% |
| EPS (Diluted) | -$0.16 | $0.03 | -$0.12 | -$0.96 | -$0.27-28.6% | -$0.39+35.0% | -$0.40+61.9% | -$0.12 |
| Diluted Shares (Avg) | 58M | 52M | N/A | 43M | 33M+37.6% | 29M+22.3% | N/A | 27M |
TLSIW Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $62.4M+51.1% | $71.0M+148.0% | $35.3M+47.4% | $36.5M+32.7% | $41.3M+27.4% | $28.6M+60.0% | $24.0M-2.5% | $27.5M-18.1% |
| Current Assets | $59.7M+56.9% | $68.1M+171.5% | $32.2M+56.0% | $33.3M+40.0% | $38.1M+36.3% | $25.1M+90.3% | $20.7M-0.9% | $23.8M-18.0% |
| Cash & Equivalents | $46.3M+74.7% | $56.6M+335.0% | $20.4M+139.8% | $22.7M+101.0% | $26.5M+60.7% | $13.0M+227.5% | $8.5M-27.6% | $11.3M-47.2% |
| Short-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $4.2M+10.5% | $3.8M-9.2% | $3.1M-24.0% | $3.3M-18.1% | $3.8M+10.6% | $4.2M+42.9% | $4.0M+59.1% | $4.0M+145.5% |
| Accounts Receivable | $6.5M+15.9% | $5.2M-4.4% | $6.6M+28.9% | $5.0M+1.8% | $5.6M+18.4% | $5.5M+27.5% | $5.1M+43.1% | $4.9M+60.9% |
| Long-Term Investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total Liabilities | $55.9M-8.0% | $58.2M-7.7% | $69.2M+38.8% | $63.2M+31.9% | $60.7M+7.4% | $63.0M+19.3% | $49.9M-3.5% | $47.9M+91.1% |
| Current Liabilities | $11.2M+19.8% | $11.8M+0.3% | $11.5M+12.4% | $10.9M+10.0% | $9.3M-22.3% | $11.8M-18.3% | $10.2M-30.4% | $9.9M+6.6% |
| Non-Current Liabilities | $44.7M-13.0% | $46.4M-9.5% | $57.7M+45.6% | $52.3M+37.6% | $51.4M+15.3% | $51.2M+33.4% | $39.6M+7.2% | $38.0M+141.0% |
| Long-Term Debt | $33.1M+2.5% | $33.1M+4.4% | $33.0M+49.6% | $32.8M+51.1% | $32.3M+51.6% | $31.7M | $22.1M | $21.7M |
| Total Equity | $6.5M+133.7% | $12.8M+137.3% | -$33.9M-30.8% | -$26.7M-30.8% | -$19.4M+23.1% | -$34.4M+4.6% | -$25.9M+4.3% | -$20.4M-346.4% |
| Retained Earnings | -$338.2M-13.4% | -$329.0M-13.5% | -$330.6M-18.3% | -$321.0M-19.1% | -$298.2M-12.1% | -$289.9M-10.8% | -$279.5M-12.0% | -$269.4M-26.6% |
Not reported in any period shown, so not listed: Goodwill.
TLSIW Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.1M-38.4% | -$6.5M-44.0% | -$2.5M+56.5% | -$3.7M+65.8% | -$7.3M+45.5% | -$4.5M+58.6% | -$5.7M+37.8% | -$10.8M+49.9% |
| Depreciation & Amortization | $136K-17.6% | $135K-21.5% | $126K-34.7% | $163K-10.4% | $165K-14.9% | $172K-1.7% | $193K-0.5% | $182K+16.7% |
| Stock-Based Compensation | N/A | $2.5M+52.6% | N/A | N/A | N/A | $1.6M+49.2% | N/A | N/A |
| Capital Expenditures | $82K-11.8% | $141K-81.3% | $41K-18.0% | $216K+27.8% | -$93K+55.0% | $754K+1042.4% | $50K-86.6% | $169K-5.1% |
| Free Cash Flow | -$10.2M-37.7% | -$6.6M-26.0% | -$2.5M+56.1% | -$3.9M+64.4% | -$7.4M+45.0% | -$5.3M+52.0% | -$5.8M+39.7% | -$11.0M+49.6% |
| Investing Cash Flow | -$82K-188.2% | -$141K+80.3% | -$41K+18.0% | -$176K-4.1% | $93K+255.0% | -$714K-981.8% | -$50K+86.6% | -$169K+84.8% |
| Financing Cash Flow | -$54K-100.3% | $42.4M+337.5% | $277K-90.7% | $82K-98.6% | $20.7M-20.3% | $9.7M+209.9% | $3.0M+6862.8% | $5.8M-85.5% |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TLSIW Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples. Each change compares the year with the year before it, and each quarter with the same quarter a year earlier.
| Metric | Q2'2610-Q | Q1'2610-Q | Q4'2510-Q | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 86.8%+2.8pp | 86.2%+2.5pp | 86.7%+1.4pp | 83.5%-2.8pp | 83.9%-3.7pp | 83.7%-1.3pp | 85.3%-4.5pp | 86.3%-2.3pp |
| Operating Margin | -86.0%-20.6pp | -94.5%-14.6pp | -24.8%+67.0pp | -77.9% | -65.4% | -80.0% | -91.8% | -118.9% |
| Net Margin | -80.5%-6.6pp | 17.3% | -73.9% | -93.5%-60.8pp | -73.9%-15.1pp | -113.2% | -122.4% | -32.6%-5.2pp |
| Return on Equity | -140.3% | 12.0% | N/A | N/A | N/A | N/A | N/A | N/A |
| Return on Assets | -14.7%+5.3pp | 2.2%+38.4pp | -27.6%+14.6pp | -29.6%-20.9pp | -20.1%-6.7pp | -36.2%+37.6pp | -42.2%+102.7pp | -8.7%-4.5pp |
| Current Ratio | 5.35+1.3x | 5.78+3.6x | 2.80+0.8x | 3.05+0.7x | 4.08+1.8x | 2.14+1.2x | 2.02+0.6x | 2.40-0.7x |
| Debt-to-Equity | 5.05 | 2.58 | N/A | N/A | N/A | N/A | N/A | N/A |
| Asset Turnover | 0.18-0.1x | 0.13-0.2x | 0.370.0x | 0.320.0x | 0.270.0x | 0.320.0x | 0.34+0.1x | 0.27+0.1x |
| FCF Margin | -89.5%-23.4pp | -74.4%-17.1pp | -19.1%+50.6pp | -33.9% | -66.1% | -57.3% | -69.7% | -149.9% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
Note: Shareholder equity is negative (-$33.9M), which causes debt-to-equity and return on equity ratios to appear negative or not meaningful. This can occur from accumulated losses or large share buyback programs.
Where TriSalus Life Sciences, Inc. Warrant Ranks
Frequently Asked Questions
What is TriSalus Life Sciences, Inc. Warrant's annual revenue?
TriSalus Life Sciences, Inc. Warrant (TLSIW) reported $45.2M in total revenue for fiscal year 2025. This represents a 53.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is TriSalus Life Sciences, Inc. Warrant's revenue growing?
TriSalus Life Sciences, Inc. Warrant (TLSIW) revenue grew by 53.4% year-over-year, from $29.4M to $45.2M in fiscal year 2025.
Is TriSalus Life Sciences, Inc. Warrant profitable?
No, TriSalus Life Sciences, Inc. Warrant (TLSIW) reported a net income of -$39.2M in fiscal year 2025, with a net profit margin of -86.9%.
What is TriSalus Life Sciences, Inc. Warrant's EBITDA?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had EBITDA of -$26.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does TriSalus Life Sciences, Inc. Warrant have?
As of fiscal year 2025, TriSalus Life Sciences, Inc. Warrant (TLSIW) had $20.4M in cash and equivalents against $33.0M in long-term debt.
What is TriSalus Life Sciences, Inc. Warrant's gross margin?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had a gross margin of 84.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is TriSalus Life Sciences, Inc. Warrant's operating margin?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had an operating margin of -59.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is TriSalus Life Sciences, Inc. Warrant's net profit margin?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had a net profit margin of -86.9% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is TriSalus Life Sciences, Inc. Warrant's free cash flow?
TriSalus Life Sciences, Inc. Warrant (TLSIW) recorded an outflow of $18.9M in free cash flow during fiscal year 2025. This represents a 54.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is TriSalus Life Sciences, Inc. Warrant's operating cash flow?
TriSalus Life Sciences, Inc. Warrant (TLSIW) recorded an outflow of $18.0M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are TriSalus Life Sciences, Inc. Warrant's total assets?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had $35.3M in total assets as of fiscal year 2025, including both current and long-term assets.
What are TriSalus Life Sciences, Inc. Warrant's capital expenditures?
TriSalus Life Sciences, Inc. Warrant (TLSIW) invested $918K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does TriSalus Life Sciences, Inc. Warrant spend on research and development?
TriSalus Life Sciences, Inc. Warrant (TLSIW) invested $15.0M in research and development during fiscal year 2025.
What is TriSalus Life Sciences, Inc. Warrant's current ratio?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had a current ratio of 2.80 as of fiscal year 2025, which is generally considered healthy.
What is TriSalus Life Sciences, Inc. Warrant's return on assets (ROA)?
TriSalus Life Sciences, Inc. Warrant (TLSIW) had a return on assets of -111.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
How does TriSalus Life Sciences, Inc. Warrant's liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, TriSalus Life Sciences, Inc. Warrant (TLSIW) held $20.4M in cash, cash equivalents and investments, and reported an operating cash outflow of $18.0M over that year. Dividing the one by the other, the reported balance equals about 14 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
Why is TriSalus Life Sciences, Inc. Warrant's debt-to-equity ratio negative or not reported?
TriSalus Life Sciences, Inc. Warrant (TLSIW) has negative shareholder equity of -$33.9M as of fiscal year 2025, so no debt-to-equity ratio is reported: dividing debt by equity that is not positive produces a number that cannot be read as leverage. This can occur when accumulated losses exceed invested capital, or after large share buyback programs. Other solvency metrics like the current ratio or interest coverage may be more informative.
What is TriSalus Life Sciences, Inc. Warrant's Piotroski F-Score?
TriSalus Life Sciences, Inc. Warrant (TLSIW) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are TriSalus Life Sciences, Inc. Warrant's earnings high quality?
TriSalus Life Sciences, Inc. Warrant (TLSIW) reported a net loss of $39.2M while operations used $18.0M of cash. With neither figure positive, the ratio between the two carries no quality signal. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can TriSalus Life Sciences, Inc. Warrant cover its interest payments?
TriSalus Life Sciences, Inc. Warrant (TLSIW) reported an operating loss of $26.9M against $5.5M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.