TriSalus Life Sciences, Inc. (TLSI) Income Statement
TLSI 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsTLSI revenue and net income
Where TLSI's revenue goes
2025Each bar shows an amount and its share of revenue. TLSI kept −86.9% of revenue as net income.
TLSI profit margins
TLSI growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +53.4% | +53.9% | — | — |
| Gross profit | +50.8% | +55.6% | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
TLSI quarterly EPS vs estimates
TriSalus Life Sciences beat the analyst EPS estimate in 2 of the last 8 quarters. Next report: November 12, 2026 (estimate $-0.14).
TLSI income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Revenue | $45.2M | $29.4M | $18.5M | $12.4M | $8.4M |
| Cost of revenue | $7.0M | $4.1M | $2.6M | $2.3M | $1.2M |
| Gross profit | $38.2M | $25.3M | $15.9M | $10.1M | $7.2M |
| Research & development | $15.0M | $17.7M | $29.8M | $21.4M | $14.2M |
| Sales, general & admin | $50.2M | $43.8M | $40.5M | $25.2M | $17.0M |
| Total operating expenses | $65.1M | $61.5M | $70.4M | $46.6M | $31.2M |
| Operating income | −$26.9M | −$36.2M | −$54.5M | −$36.4M | −$24.0M |
| Interest income | $555,000 | $404,000 | $431,000 | $180,000 | $0 |
| Interest expense | $5.5M | $3.1M | $16,000 | $1,000 | $1.8M |
| Income before taxes | −$39.2M | −$30.0M | −$59.4M | −$47.2M | −$28.8M |
| Income taxes | $7,000 | $6,000 | $9,000 | $9,000 | $3,000 |
| Net income | −$39.2M | −$33.2M | −$59.4M | −$47.2M | −$28.8M |
| EBITDA | −$33.0M | −$32.4M | −$58.7M | −$46.8M | −$26.6M |
| EPS (diluted) | −$1.48 | −$1.61 | −$1.87 | $0.18 | $0.15 |
| Gross margin | 84.6% | 86.1% | 85.9% | 81.8% | 85.8% |
| Operating margin | −59.7% | −122.9% | −294.3% | −293.9% | −286.1% |
| Net margin | −86.9% | −112.9% | −320.7% | −380.6% | −343.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $11.4M | $8.9M | $13.2M | $11.6M | $11.2M | $9.2M | $8.3M | $7.3M | $7.4M | $6.5M | $5.7M | $5.2M |
| Cost of revenue | $1.5M | $1.2M | $1.8M | $1.9M | $1.8M | $1.5M | $1.2M | $1.0M | $912,000 | $971,000 | $582,000 | $589,000 |
| Gross profit | $9.9M | $7.7M | $11.4M | $9.7M | $9.4M | $7.7M | $7.0M | $6.3M | $6.5M | $5.5M | $5.1M | $4.6M |
| Research & development | $3.1M | $3.2M | $2.6M | $5.2M | $3.9M | $3.3M | $3.0M | $4.2M | $4.7M | $5.9M | $7.6M | $9.5M |
| Sales, general & admin | $16.6M | $12.9M | $12.1M | $13.5M | $12.8M | $11.7M | $11.7M | $10.9M | $10.0M | $11.3M | $11.6M | $13.7M |
| Total operating expenses | $19.7M | $16.1M | $14.7M | $18.7M | $16.7M | $15.0M | $15.8M | $15.1M | $14.6M | $17.2M | $19.3M | $23.2M |
| Operating income | −$9.8M | −$8.4M | −$3.3M | −$9.0M | −$7.3M | −$7.3M | −$7.6M | −$8.7M | −$8.2M | −$11.7M | −$14.1M | −$18.6M |
| Interest income | $457,000 | $164,000 | $177,000 | $170,000 | $134,000 | $74,000 | $57,000 | $158,000 | $97,000 | $92,000 | $244,000 | $116,000 |
| Interest expense | $1.5M | $1.4M | $1.5M | $1.5M | $1.4M | $1.2M | $1.1M | $1.1M | $877,000 | $3,000 | $3,000 | $4,000 |
| Income before taxes | −$9.2M | $1.5M | −$9.8M | −$10.8M | −$8.3M | −$10.4M | −$10.1M | −$2.4M | −$4.3M | −$13.2M | −$35.5M | −$1.4M |
| Income taxes | $4,000 | $4,000 | −$14,000 | $5,000 | −$3,000 | $5,000 | — | −$3,000 | $7,000 | $3,000 | $1,000 | −$112,000 |
| Net income | −$9.2M | $1.5M | −$9.8M | −$10.8M | −$8.3M | −$10.4M | −$10.1M | −$2.4M | −$4.3M | −$13.2M | −$35.5M | −$1.4M |
| EBITDA | −$7.4M | $3.1M | −$8.2M | −$9.2M | −$6.7M | −$9.0M | — | −$1.1M | −$3.3M | −$13.0M | −$35.3M | −$1.3M |
| EPS (diluted) | −$0.16 | $0.03 | −$0.05 | −$0.87 | −$0.23 | −$0.33 | −$0.40 | −$0.40 | −$0.21 | −$0.60 | −$1.56 | −$0.13 |
| Gross margin | 86.8% | 86.2% | 86.7% | 83.5% | 83.9% | 83.7% | 85.3% | 86.3% | 87.6% | 85.0% | 89.8% | 88.7% |
| Operating margin | −86.0% | −94.5% | −24.8% | −77.9% | −65.4% | −79.9% | −91.8% | −118.9% | −111.0% | −181.0% | −246.8% | −358.5% |
| Net margin | −80.5% | 17.3% | −73.9% | −93.5% | −73.9% | −113.2% | −122.4% | −32.6% | −58.8% | −204.7% | −620.7% | −27.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in TLSI's financial statements (latest annual report filed March 5, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
TLSI financial results
In fiscal year 2025 (ended December 31, 2025), TriSalus Life Sciences reported revenue of $45.2 million, up 53.4% from the year before. It had a net loss of $39.2 million, a net profit margin of −86.9%. Diluted earnings per share came to −$1.48.
See the TLSI stock overview for the latest quote and news, or the TLSI chart for price history and technical indicators.
TLSI income statement FAQ
What is TriSalus Life Sciences's annual revenue?
TriSalus Life Sciences reported total revenue of $45.2 million for fiscal year 2025, which ended on December 31, 2025. That was up 53.4% from $29.4 million the previous year.
Is TriSalus Life Sciences profitable?
No. TriSalus Life Sciences reported a net loss of $39.2 million in fiscal 2025, a net profit margin of −86.9%; its operating margin was −59.7%.
What is TriSalus Life Sciences's gross margin?
TriSalus Life Sciences's gross margin was 84.6% in fiscal 2025: for every $100 of revenue, TriSalus Life Sciences kept $85 after the direct cost of its products and services.
How much does TriSalus Life Sciences spend on research and development?
TriSalus Life Sciences spent $15.0 million on research and development in fiscal 2025, 33.1% of revenue.
What are TriSalus Life Sciences's earnings per share?
TriSalus Life Sciences earned $-1.48 per diluted share in fiscal 2025, compared with $-1.61 a year earlier.
When will TriSalus Life Sciences report its next earnings?
TriSalus Life Sciences is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does TriSalus Life Sciences's fiscal year end?
TriSalus Life Sciences's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 5, 2026.