TriSalus Life Sciences 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).
Rapid revenue growth has narrowed operating losses, but the business still depends on external financing while liabilities exceed assets.
Revenue rose143.9% from FY2023 to FY2025 while operating margin improved 234.6 percentage points. Gross margin slipped 1.4 percentage points over the same span, so the improvement is chiefly below gross profit rather than evidence of better unit economics.
FY2025 paired a net loss of
Liabilities of
Financial Health Signals
We do not publish a peer-relative financial health score for TriSalus Life Sciences, Inc. Warrant, because the score only covers companies whose filings and listing give us what it needs to compare them with their peers. 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 operating efficiency signals passes.
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. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
TriSalus Life Sciences, Inc. Warrant reported a net loss of $9.2M in Q2 2026. The change from the same quarter a year earlier is not meaningful, because that figure was zero or negative. 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. The change from the prior quarter is not meaningful, because that quarter’s figure was zero or negative.
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 quarterly ROE was -140.3% in Q2 2026: one quarter's net income over shareholder equity, not annualized. 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. 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-K | 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 | $16.6M+26.8% | $12.9M+7.4% | $11.6M-0.4% | $13.5M+24.2% | $13.1M+31.3% | $12.0M+5.9% | $11.7M+0.2% | $10.9M-20.8% |
| Operating Income | -$9.8Mn/m | -$8.4Mn/m | -$3.3Mn/m | -$9.0Mn/m | -$7.3Mn/m | -$7.3Mn/m | -$7.6Mn/m | -$8.7Mn/m |
| EBITDA | -$9.7Mn/m | -$8.3Mn/m | -$3.1Mn/m | -$8.9Mn/m | -$7.2Mn/m | -$7.2Mn/m | -$7.4Mn/m | -$8.6Mn/m |
| 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 | $4Kn/m | $4K-20.0% | $0n/m | $5Kn/m | -$3K-142.9% | $5K+66.7% | -$1K-200.0% | -$3Kn/m |
| Net Income | -$9.2Mn/m | $1.5Mn/m | -$9.8Mn/m | -$10.8Mn/m | -$8.3Mn/m | -$10.4Mn/m | -$10.1Mn/m | -$2.4Mn/m |
| EPS (Basic) | -$0.16 | $0.03 | -$0.12 | -$0.96 | -$0.27n/m | -$0.39n/m | -$0.40 | -$0.12 |
| EPS (Diluted) | -$0.16 | $0.03 | -$0.12 | -$0.96 | -$0.27n/m | -$0.39n/m | -$0.40 | -$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-K | 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 | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| 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 | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m | $0n/m |
| 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 | $22.1Mn/m | $21.7M |
| Total Equity | $6.5Mn/m | $12.8Mn/m | -$33.9Mn/m | -$26.7Mn/m | -$19.4Mn/m | -$34.4Mn/m | -$25.9Mn/m | -$20.4M-346.4% |
| Retained Earnings | -$338.2Mn/m | -$329.0Mn/m | -$330.6Mn/m | -$321.0Mn/m | -$298.2Mn/m | -$289.9Mn/m | -$279.5Mn/m | -$269.4Mn/m |
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-K | Q3'2510-Q | Q2'2510-Q | Q1'2510-Q | Q4'2410-K | Q3'2410-Q |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$10.1Mn/m | -$6.5Mn/m | -$2.5Mn/m | -$3.7Mn/m | -$7.3Mn/m | -$4.5Mn/m | -$5.7Mn/m | -$10.8Mn/m |
| 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 | $141K-81.3% | $41K-18.0% | $216K+27.8% | N/A | $754K+1042.4% | $50K-86.6% | $169K-5.1% |
| Free Cash Flow | -$10.2M | -$6.6Mn/m | -$2.5Mn/m | -$3.9Mn/m | N/A | -$5.3Mn/m | -$5.8Mn/m | -$11.0Mn/m |
| Investing Cash Flow | -$82K-188.2% | -$141Kn/m | -$41Kn/m | -$176Kn/m | $93Kn/m | -$714Kn/m | -$50Kn/m | -$169Kn/m |
| 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-K | 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 |
| Liabilities-to-Equity | 8.53 | 4.54 | 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% | -74.4%-17.1pp | -19.1%+50.6pp | -33.9% | N/A | -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 the debt-to-equity, liabilities-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
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.
TriSalus Life Sciences, Inc. Warrant (TLSIW) revenue grew by 53.4% year-over-year, from $29.4M to $45.2M in fiscal year 2025.
No, TriSalus Life Sciences, Inc. Warrant (TLSIW) reported a net loss of $28.2M over the trailing 12 months to June 30, 2026. In fiscal year 2025 it reported a net loss of $39.2M, with a net profit margin of -86.9%.
TriSalus Life Sciences, Inc. Warrant (TLSIW) had EBITDA of -$26.3M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
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.
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.
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.
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.
TriSalus Life Sciences, Inc. Warrant (TLSIW) recorded an outflow of $18.9M in free cash flow during fiscal year 2025. The change from the previous fiscal year is not meaningful, because that year’s figure was zero or negative. 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.
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.
TriSalus Life Sciences, Inc. Warrant (TLSIW) had $35.3M in total assets as of fiscal year 2025, including both current and long-term assets.
TriSalus Life Sciences, Inc. Warrant (TLSIW) invested $918K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
TriSalus Life Sciences, Inc. Warrant (TLSIW) invested $15.0M in research and development during fiscal year 2025.
TriSalus Life Sciences, Inc. Warrant (TLSIW) had a current ratio of 2.80 as of fiscal year 2025, which is generally considered healthy.
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.
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.
TriSalus Life Sciences, Inc. Warrant (TLSIW) has negative shareholder equity of -$33.9M as of fiscal year 2025, so no debt-to-equity or liabilities-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.
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.
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.
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.