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    TriSalus Life Sciences, Inc.

    Company overview

    Market capitalization
    $270.31M
    Employees
    102
    Latest publication
    2026-09-29
    About TriSalus Life Sciences, Inc.

    TriSalus Life Sciences, Inc. engages in the research, development, and commercialization of drug delivery technology platform and immuno-oncology therapeutics to improve outcomes for patients with difficult-to-treat liver and pancreatic cancers in the United States. It offers Pressure-Enabled Drug Delivery (PEDD) 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 treating locally advanced pancreatic cancer. The company is also developing nelitolimod, an investigational immunotherapeutic in Phase 1 clinical trial for the treatment of uveal melanoma, intrahepatic cholangiocarcinoma, hepatocellular carcinoma, and pancreatic cancer. It serves interventional radiologists, IR technicians, medical oncologists, nursing support, and value analysis committee staff. The company was founded in 2009 and is headquartered in Westminster, Colorado.

    Company website

    Financial statements

    Income Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Revenue8,899,000USD13,205,000USD11,566,000USD11,213,000USD9,167,000USD8,261,000USD7,349,000USD7,364,000USD
    Cost Of Revenue1,230,000USD1,762,000USD1,906,000USD1,802,000USD1,495,000USD1,216,000USD1,004,000USD912,000USD
    Gross Profit7,669,000USD11,443,000USD9,660,000USD9,411,000USD7,672,000USD7,045,000USD6,345,000USD6,452,000USD
    Research Development3,216,000USD2,570,000USD5,176,000USD3,923,000USD3,296,000USD2,959,000USD4,219,000USD4,666,000USD
    Selling General Administrative5,451,000USD4,171,000USD6,659,000USD5,657,000USD4,971,000USD11,666,000USD4,727,000USD3,956,000USD
    Selling And Marketing Expenses7,413,000USD7,973,000USD6,839,000USD7,163,000USD6,734,000USD—6,138,000USD6,004,000USD
    Total Operating Expenses16,079,999USD14,714,000USD18,674,000USD16,743,000USD15,001,000USD15,841,000USD15,084,000USD14,626,000USD
    Operating Income-8,411,000USD-3,271,000USD-9,014,000USD-7,332,000USD-7,329,000USD-7,580,000USD-8,739,000USD-8,174,000USD
    Interest Income164,000USD177,000USD170,000USD134,000USD74,000USD57,000USD158,000USD97,000USD
    Interest Expense1,436,000USD1,452,000USD1,460,000USD1,423,000USD1,209,000USD1,068,000USD1,142,000USD877,000USD
    Net Interest Income-1,272,000USD-1,275,000USD-1,290,000USD-1,289,000USD-1,135,000USD-1,011,000USD-984,000USD-780,000USD
    Income Before Tax1,543,000USD-9,753,000USD-10,806,000USD-8,291,000USD-10,370,000USD-10,109,000USD-2,402,000USD-4,325,000USD
    Income Tax Expense4,000USD-14,000USD5,000USD-3,000USD5,000USD—-3,000USD7,000USD
    Tax Provision4,000USD0USD5,000USD-3,000USD5,000USD-1,000USD-3,000USD7,000USD
    Net Income1,539,000USD-9,753,000USD-10,811,000USD-8,288,000USD-10,375,000USD-10,108,000USD-2,399,000USD-4,332,000USD
    Net Income From Continuing Ops1,539,000USD-9,753,000USD-10,811,000USD-8,288,000USD-10,375,000USD-10,108,000USD-2,399,000USD-4,332,000USD
    Ebit-8,411,000USD-8,301,000USD-9,346,000USD-6,868,000USD-9,161,000USD-7,580,000USD-1,260,000USD-3,448,000USD
    Ebitda-8,276,000USD-8,175,000USD-9,183,000USD-6,703,000USD-8,989,000USD—-1,091,000USD-3,241,000USD
    Depreciation And Amortization135,000USD126,000USD163,000USD165,000USD172,000USD—169,000USD207,000USD
    Reconciled Depreciation135,000USD126,000USD163,000USD165,000USD172,000USD193,000USD169,000USD194,000USD
    Total Other Income Expense Net9,954,000USD-6,482,000USD-1,792,000USD-959,000USD-3,041,000USD-1,518,000USD6,337,000USD3,849,000USD
    Unclassified Operating Expenses—————1,216,000USD——
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Income Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USD
    Total Revenue45,151,000USD29,431,000USD18,511,000USD12,398,000USD8,401,000USD
    Cost Of Revenue6,965,000USD4,103,000USD2,605,000USD2,258,000USD1,193,000USD
    Gross Profit38,186,000USD25,328,000USD15,906,000USD10,140,000USD7,208,000USD
    Research Development14,965,000USD17,688,000USD29,835,000USD21,358,000USD14,224,000USD
    Selling General Administrative21,458,000USD17,966,000USD23,512,000USD12,483,000USD8,753,000USD
    Selling And Marketing Expenses28,709,000USD25,839,000USD17,034,000USD12,738,000USD8,263,000USD
    Total Operating Expenses65,132,000USD61,493,000USD70,381,000USD46,579,000USD31,240,000USD
    Operating Income-26,946,000USD-36,165,000USD-54,475,000USD-36,439,000USD-24,032,000USD
    Interest Income555,000USD404,000USD431,000USD180,000USD0USD
    Interest Expense5,544,000USD3,090,000USD16,000USD1,000USD1,761,000USD
    Net Interest Income-4,989,000USD-2,686,000USD415,000USD179,000USD-1,761,000USD
    Income Before Tax-39,220,000USD-30,039,000USD-59,354,000USD-47,178,000USD-28,842,000USD
    Income Tax Expense7,000USD6,000USD9,000USD9,000USD3,000USD
    Tax Provision7,000USD6,000USD9,000USD9,000USD3,000USD
    Net Income-39,227,000USD-33,233,000USD-59,363,000USD-47,187,000USD-28,845,000USD
    Net Income From Continuing Ops-39,227,000USD-30,045,000USD-59,038,000USD-47,187,000USD-28,845,000USD
    Ebitda-26,946,000USD-36,165,000USD-58,654,000USD-46,763,000USD-23,568,000USD
    Reconciled Depreciation626,000USD744,000USD702,000USD398,000USD464,000USD
    Total Other Income Expense Net-12,274,000USD6,126,000USD-4,879,000USD-10,739,000USD-4,810,000USD
    Ebit—-33,129,000USD-59,338,000USD-47,177,000USD-24,032,000USD
    Depreciation And Amortization—-3,036,000USD684,000USD414,000USD464,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Total Assets70,979,000USD35,331,000USD36,463,000USD41,317,000USD28,625,000USD23,971,000USD27,477,000USD32,430,999USD
    Other Current Assets2,592,000USD2,170,000USD2,365,000USD2,216,000USD2,481,000USD—3,609,000USD3,311,000USD
    Total Liab58,172,000USD69,192,000USD63,188,000USD60,740,000USD62,995,000USD49,865,000USD47,911,000USD56,580,000USD
    Total Stockholder Equity12,807,000USD-33,861,000USD-26,725,000USD-19,423,000USD-34,370,000USD-25,894,000USD-20,434,000USD-24,149,000USD
    Other Current Liab11,568,000USD8,330,000USD10,781,000USD7,241,000USD8,829,000USD383,000USD8,172,000USD9,661,000USD
    Common Stock5,000USD4,000USD4,000USD3,000USD3,000USD—3,000USD2,000USD
    Capital Stock5,000USD4,000USD4,000USD3,000USD3,000USD3,000USD3,000USD2,000USD
    Retained Earnings-329,044,000USD-330,583,000USD-320,970,000USD-298,212,000USD-289,924,000USD-279,549,000USD-269,441,000USD-265,928,000USD
    Cash56,553,000USD20,439,000USD22,687,000USD26,490,000USD13,000,000USD8,525,000USD11,288,000USD16,481,000USD
    Cash And Short Term Investments56,553,000USD20,439,000USD22,687,000USD26,490,000USD13,000,000USD—11,288,000USD16,481,000USD
    Total Current Assets68,138,000USD32,244,000USD33,328,000USD38,084,000USD25,096,000USD20,669,000USD23,808,000USD27,941,000USD
    Total Current Liabilities11,786,000USD11,499,000USD10,910,000USD9,324,000USD11,753,000USD10,228,000USD9,918,000USD11,997,000USD
    Net Debt-22,066,000USD14,002,000USD11,437,000USD7,172,000USD20,116,000USD13,559,000USD12,162,000USD6,281,999USD
    Short Term Debt218,000USD167,000USD129,000USD123,000USD118,000USD—266,000USD323,000USD
    Short Long Term Debt Total34,487,000USD34,441,000USD34,124,000USD33,662,000USD33,116,000USD—23,450,000USD22,763,000USD
    Long Term Debt33,079,000USD33,046,000USD32,764,000USD32,274,000USD31,699,000USD22,084,000USD21,678,000USD21,286,000USD
    Net Receivables5,215,000USD6,558,000USD5,000,000USD5,571,000USD5,453,000USD5,087,000USD4,912,000USD4,706,000USD
    Inventory3,778,000USD3,077,000USD3,276,000USD3,807,000USD4,162,000USD4,048,000USD3,999,000USD3,443,000USD
    Accounts Payable4,232,000USD3,002,000USD3,784,000USD1,902,000USD2,806,000USD2,274,000USD1,446,000USD1,976,000USD
    Property Plant Equipment Net2,772,000USD2,669,000USD2,716,000USD2,814,000USD3,105,000USD2,879,000USD3,245,000USD2,953,000USD
    Property Plant Equipment Gross2,772,000USD5,902,000USD2,716,000USD2,814,000USD3,105,000USD6,666,000USD3,245,000USD2,953,000USD
    Common Stock Shares Outstanding52,314,410shares46,844,667shares43,057,632shares32,899,297shares28,527,000shares31,279,264shares26,501,597shares23,903,659shares
    Non Current Assets Total2,841,000USD3,087,000USD3,135,000USD3,233,000USD3,529,000USD3,302,000USD3,669,000USD4,489,999USD
    Non Current Liabilities Total46,386,000USD57,693,000USD52,278,000USD51,416,000USD51,242,000USD39,637,000USD37,993,000USD44,583,000USD
    Non Current Liabilities Other12,117,000USD23,419,000USD18,283,000USD17,877,000USD18,244,000USD16,224,000USD6,571,000USD8,931,000USD
    Non Currrent Assets Other69,000USD18,000USD419,000USD419,000USD74,000USD423,000USD424,000USD73,999USD
    Net Working Capital56,352,000USD20,745,000USD22,418,000USD28,760,000USD13,343,000USD10,441,000USD13,890,000USD15,944,000USD
    Unclassified Current Liabilities-4,232,000USD—-3,784,000USD——7,571,000USD——
    Unclassified Non Current Liabilities1,190,000USD1,228,000USD1,231,000USD1,265,000USD1,299,000USD1,329,000USD9,744,000USD14,366,000USD
    Unclassified Equity341,841,000USD296,714,000USD294,237,000USD278,783,000USD255,548,000USD253,652,000USD249,001,000USD241,775,000USD
    Other Assets————-61,096,000USD——1USD
    Unclassified Current Assets—————3,009,000USD——
    Current Deferred Revenue——————-266,000USD37,000USD
    Intangible Assets———————1,113,000USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Balance sheet Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USD
    Total Assets35,331,000USD23,971,000USD24,598,000USD21,995,000USD37,837,000USD
    Other Current Assets2,170,000USD3,009,000USD2,986,000USD4,772,000USD2,181,000USD
    Total Liab69,192,000USD49,865,000USD51,663,000USD34,319,000USD6,934,000USD
    Total Stockholder Equity-33,861,000USD-25,894,000USD-27,065,000USD-12,324,000USD30,903,000USD
    Other Current Liab8,330,000USD7,704,000USD10,945,000USD27,040,000USD5,073,000USD
    Common Stock4,000USD3,000USD2,000USD14,000USD11,000USD
    Capital Stock4,000USD3,000USD2,000USD14,000USD11,000USD
    Retained Earnings-330,583,000USD-279,549,000USD-249,504,000USD-186,358,000USD-136,342,000USD
    Cash20,439,000USD8,525,000USD11,777,000USD9,414,000USD30,301,000USD
    Cash And Short Term Investments20,439,000USD8,525,000USD11,777,000USD9,414,000USD30,301,000USD
    Total Current Assets32,244,000USD20,669,000USD20,862,000USD17,214,000USD35,131,000USD
    Total Current Liabilities11,499,000USD10,228,000USD14,687,000USD32,357,000USD6,373,000USD
    Net Debt14,002,000USD15,104,000USD-10,182,000USD-7,451,000USD-30,301,000USD
    Short Term Debt167,000USD216,000USD351,000USD370,000USD42,184,000USD
    Short Long Term Debt Total34,441,000USD23,629,000USD1,595,000USD1,963,000USD42,184,000USD
    Long Term Debt33,046,000USD22,084,000USD———
    Net Receivables6,558,000USD5,087,000USD3,554,000USD1,557,000USD1,357,000USD
    Inventory3,077,000USD4,048,000USD2,545,000USD1,471,000USD1,292,000USD
    Accounts Payable3,002,000USD2,274,000USD3,391,000USD4,947,000USD1,300,000USD
    Property Plant Equipment Net2,669,000USD2,879,000USD3,270,000USD3,612,000USD1,797,000USD
    Property Plant Equipment Gross5,902,000USD6,666,000USD6,363,000USD6,037,000USD3,946,000USD
    Common Stock Shares Outstanding37,897,785shares26,501,597shares26,465,686shares29,608,326shares31,250,000shares
    Non Current Assets Total3,087,000USD3,302,000USD3,736,000USD4,781,000USD2,706,000USD
    Non Current Liabilities Total57,693,000USD39,637,000USD36,976,000USD1,962,000USD561,000USD
    Non Current Liabilities Other23,419,000USD16,224,000USD35,732,000USD369,000USD561,000USD
    Non Currrent Assets Other18,000USD73,000USD466,000USD117,000USD115,000USD
    Net Working Capital20,745,000USD10,441,000USD6,175,000USD-15,142,000USD28,758,000USD
    Unclassified Non Current Liabilities1,228,000USD1,329,000USD1,244,000USD1,593,000USD—
    Unclassified Equity296,714,000USD253,649,000USD222,435,000USD338,012,000USD167,223,890USD
    Other Assets—-61,096,000USD———
    Intangible Assets——1,127,000USD802,000USD794,000USD
    Current Deferred Revenue——10,556,000USD6,377,000USD-42,796,000USD
    Accumulated Other Comprehensive Income——0USD-164,006,000USD-890USD
    Unclassified Non Current Assets——-1,127,000USD——
    Unclassified Current Liabilities——-10,556,000USD-6,377,000USD-42,184,000USD
    Short Term Investments————250,003,298USD
    Unclassified Current Assets————-250,003,298USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Quarterly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricQ1 20262026-03-31 · USDQ4 20252025-12-31 · USDQ3 20252025-09-30 · USDQ2 20252025-06-30 · USDQ1 20252025-03-31 · USDQ4 20242024-12-31 · USDQ3 20242024-09-30 · USDQ2 20242024-06-30 · USD
    Net Income1,539,000USD-9,753,000USD-10,811,000USD-8,288,000USD-10,375,000USD-10,891,000USD-2,399,000USD-4,332,000USD
    Depreciation135,000USD126,000USD163,000USD165,000USD172,000USD193,000USD182,000USD194,000USD
    Stock Based Compensation2,472,000USD2,197,000USD3,422,000USD1,892,000USD1,620,000USD1,697,000USD1,383,000USD1,275,000USD
    Other Non Cash Items-8,450,000USD5,476,000USD1,130,000USD299,000USD2,485,000USD1,266,000USD-6,860,000USD-4,179,000USD
    Change To Account Receivables1,291,000USD-1,591,000USD497,000USD-174,000USD-366,000USD-361,000USD-206,000USD-429,000USD
    Change To Inventory-701,000USD199,000USD531,000USD355,000USD-114,000USD-48,000USD-556,000USD-531,000USD
    Change In Working Capital296,000USD-530,000USD2,387,000USD-1,388,000USD1,599,000USD467,000USD-3,153,000USD-6,380,000USD
    Total Cash From Operating Activities-6,480,000USD-2,484,000USD-3,709,000USD-7,320,000USD-4,499,000USD-5,707,000USD-10,847,000USD-13,422,000USD
    Capital Expenditures-141,000USD-41,000USD-216,000USD-93,000USD-754,000USD-50,000USD-169,000USD-60,000USD
    Free Cash Flow-6,621,000USD-2,525,000USD-3,925,000USD-7,227,000USD-5,253,000USD-5,757,000USD-11,016,000USD-13,482,000USD
    Total Cashflows From Investing Activities-141,000USD-41,000USD-176,000USD93,000USD-714,000USD—-169,000USD-60,000USD
    Net Borrowings-9,000USD-3,000USD-6,000USD-1,000USD9,929,000USD-19,000USD-22,000USD—
    Total Cash From Financing Activities42,385,000USD277,000USD82,000USD20,717,000USD9,688,000USD2,994,000USD5,823,000USD25,993,000USD
    Issuance Of Capital Stock42,625,000USD-211,000USD0USD22,211,000USD0USD2,951,000USD5,843,000USD3,602,000USD
    Change In Cash36,114,000USD-2,248,000USD-3,803,000USD13,490,000USD4,475,000USD-2,763,000USD-5,193,000USD12,511,000USD
    Begin Period Cash Flow20,439,000USD23,037,000USD26,490,000USD13,350,000USD8,875,000USD11,638,000USD16,831,000USD4,320,000USD
    End Period Cash Flow56,553,000USD20,789,000USD22,687,000USD26,840,000USD13,350,000USD8,875,000USD11,638,000USD16,831,000USD
    Other Cashflows From Financing Activities-263,000USD277,000USD82,000USD-1,493,000USD-241,000USD—2,000USD-2,588,000USD
    Unclassified Operating Cash Flow-2,472,000USD————1,561,000USD——
    Sale Purchase Of Stock—404,000USD——————
    Investments——-176,000USD93,000USD-714,000USD-50,000USD-169,000USD-60,000USD
    Other Cashflows From Investing Activities——40,000USD—40,000USD———
    Dividends Paid———————-10,900USD
    Unclassified Financing Cash Flow———————24,989,900USD
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Cash flow Yearly

    Exact reported values; units shown beside each amount. Missing values are —.
    MetricFY 20252025-12-31 · USDFY 20242024-12-31 · USDFY 20232023-12-31 · USDFY 20222022-12-31 · USDFY 20212021-12-31 · USDFY 20202020-12-31 · USD
    Net Income-39,227,000USD-30,045,000USD-59,363,000USD-47,187,000USD-28,845,000USD-711,389USD
    Depreciation626,000USD744,000USD684,000USD398,000USD464,000USD321,000USD
    Stock Based Compensation9,131,000USD5,441,000USD1,402,000USD368,000USD109,000USD22,000USD
    Other Non Cash Items9,390,000USD-7,434,000USD6,162,000USD11,808,000USD5,706,000USD603,774USD
    Change To Account Receivables-1,634,000USD-1,719,000USD-1,979,000USD-200,000USD-741,000USD-423,000USD
    Change To Inventory971,000USD-1,503,000USD-1,073,000USD-179,000USD-725,000USD755,000USD
    Change In Working Capital2,068,000USD-9,549,000USD537,000USD2,300,000USD-131,000USD-569,984USD
    Total Cash From Operating Activities-18,012,000USD-40,843,000USD-50,578,000USD-32,313,000USD-22,697,000USD-677,599USD
    Capital Expenditures-918,000USD-345,000USD-588,000USD-786,000USD-1,258,000USD-545,000USD
    Free Cash Flow-18,930,000USD-41,188,000USD-51,166,000USD-33,099,000USD-23,955,000USD-1,222,599USD
    Total Cashflows From Investing Activities-838,000USD-345,000USD-1,588,000USD-1,786,000USD-2,258,000USD—
    Net Borrowings9,919,000USD24,916,000USD-87,000USD-131,000USD-1,303,000USD—
    Total Cash From Financing Activities30,764,000USD37,936,000USD54,629,000USD13,462,000USD50,768,000USD252,012,597USD
    Sale Purchase Of Stock404,000USD—-20,000USD———
    Issuance Of Capital Stock22,000,000USD15,537,000USD9,189,000USD13,499,000USD52,017,000USD—
    Change In Cash11,914,000USD-3,252,000USD2,463,000USD-20,637,000USD25,813,000USD-3,630,002USD
    Begin Period Cash Flow8,875,000USD12,127,000USD9,664,000USD30,301,000USD4,488,000USD4,965,000USD
    End Period Cash Flow20,789,000USD8,875,000USD12,127,000USD9,664,000USD30,301,000USD1,334,998USD
    Other Cashflows From Investing Activities80,000USD-345,000USD-1,000,000USD-1,131,000USD-1,161,000USD-9,158,000USD
    Other Cashflows From Financing Activities30,764,000USD-2,517,000USD54,716,000USD13,593,000USD52,071,000USD-250,000,000USD
    Unclassified Financing Cash Flow-10,323,000USD——-13,499,000USD-52,017,000USD502,012,597USD
    Investments—-345,000USD-2,121,000USD-1,786,000USD-2,258,000USD—
    Unclassified Investing Cash Flow——2,121,000USD1,917,000USD2,419,000USD—
    SourceLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacyLegacy providerLegacy

    Operating metrics

    No operating metrics are currently published for this company.

    Revenue breakdown

    No revenue breakdown is currently published for this company.

    Periods follow company fiscal calendars. Quarterly, annual and year-to-date amounts are shown separately. Missing values are not zero. Data may be delayed, incomplete or corrected; follow the disclosure links to verify figures.