Trisalus Life Sciences, Inc. ((TLSI)) has held its Q2 earnings call. Read on for the main highlights of the call.
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The recent earnings call from TriSalus Life Sciences, Inc. conveyed a generally positive sentiment, underscored by strong revenue growth, successful product launches, and strategic financial maneuvers. However, there were some concerns regarding a decline in gross margins and a delay in achieving EBITDA positivity.
Strong Revenue Growth
TriSalus reported a remarkable 52% increase in net sales year-over-year, reaching $11.2 million, alongside a 22% sequential gain over Q1 2025. This growth highlights the company’s robust market performance and effective sales strategies.
TriNav FLX Infusion System Launch
The successful launch of the TriNav FLX infusion system exceeded internal projections and significantly contributed to the company’s commercial momentum. This product launch is a key factor in driving the company’s recent revenue growth.
Successful Private Placement
TriSalus completed a $22 million private placement with healthcare-focused institutional investors, which has strengthened its balance sheet. This financial maneuver is crucial for supporting the company’s ongoing growth and innovation efforts.
New Medicare Coverage Code
The Centers for Medicare and Medicaid Services issued code C8004, effectively doubling the reimbursable use of TriNav technology. This development expands the market opportunity for TriSalus, enhancing its competitive position.
Operational Efficiency Improvements
Efforts to streamline general and administrative costs and focus on device innovation are expected to reduce ongoing R&D expenses. These improvements are part of TriSalus’s strategy to enhance operational efficiency.
Positive Clinical Results
TriNav products demonstrated 100% technical and clinical success in a recent study, showing significant thyroid shrinkage and normalization of thyroid function. These positive clinical outcomes reinforce the efficacy of TriSalus’s technology.
Gross Margin Decline
Despite the positive revenue growth, the company experienced a decline in gross margin from 88% to 84% year-over-year, attributed to lower manufacturing efficiency with newly launched products. This remains a concern for the company.
Delayed EBITDA Positivity
TriSalus announced a delay in achieving EBITDA positivity until 2026, despite ongoing revenue growth. This delay is due to continued investments in growth and innovation.
Forward-Looking Guidance
TriSalus Life Sciences reiterated its guidance of 50% revenue growth for 2025, while strategically delaying EBITDA positivity until 2026 due to ongoing investments. The company remains focused on expanding its clinical and commercial reach, advancing nelitolimod through strategic partnerships, and ended the quarter with $26.5 million in cash, positioning itself for continued growth in the medical device and oncology sectors.
In summary, TriSalus Life Sciences, Inc. presented a positive outlook during its earnings call, with significant revenue growth and strategic initiatives driving its performance. While challenges such as gross margin decline and delayed EBITDA positivity were noted, the company’s strong financial position and innovative product launches suggest a promising future.