TriSalus Life Sciences (TLSI) AI Stock Analysis

• Market Cap: $234.87M
• Dividend Yield: N/A
• Average Volume (3M): 110.87K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.80
• Revenue Growth: 45.50%
• EPS Growth: 53.07%
• Country: US
• Employees: 110
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -0.27
• Shares Outstanding: 49,867,280
• 10 Day Avg. Volume: 91,347
• 30 Day Avg. Volume: 110,874
• PEG Ratio: 0.09
• Price to Book (P/B): -5.13
• Price to Sales (P/S): 4.51
• P/FCF Ratio: -3.22
• Enterprise Value/Market Cap: 0.79
• Enterprise Value/Revenue: 5.18
• Enterprise Value/Gross Profit: 6.12
• Enterprise Value/Ebitda: -7.28
• 1Y Price Target: $11.60
• Price Target Upside: 146.28% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 5
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 47 Neutral
• Price Target: $4.50 ▼(-4.46% Downside)

TriSalus Life Sciences' overall stock score is primarily impacted by its financial challenges, including negative equity and cash flow issues. While the earnings call provided some positive insights into revenue growth and product expansion, these are overshadowed by the company's financial instability and valuation concerns.

Positive Factors

Revenue Growth

The significant year-over-year revenue growth indicates strong market demand and successful product adoption, supporting long-term business expansion.

Product Portfolio Expansion

Expanding the product portfolio enhances market reach and competitive positioning, providing a broader base for future revenue streams.

New Reimbursement Code

The new reimbursement code facilitates wider adoption and usage of TriNav, potentially increasing sales and market penetration over time.

Negative Factors

Negative Equity

Negative equity indicates financial instability, which can hinder the company's ability to secure financing and invest in growth opportunities.

Cash Flow Challenges

Negative cash flows limit the company's ability to fund operations and growth initiatives, posing a risk to long-term sustainability.

Gross Margin Decline

Declining gross margins suggest potential issues with cost control and efficiency, which could impact profitability if not addressed.

TriSalus Life Sciences Business Overview & Revenue Model

Company Description

TriSalus Life Sciences, Inc., an immunotherapy company that develops and commercializes immunotherapies for the treatment of liver and pancreatic tumors. The company offers the TriNav Infusion System for hepatic arterial infusion of liver tumors; and the Pancreatic Retrograde Venous Infusion System for pancreatic tumors. It also develops SD-101, an investigational immunotherapeutic with pressure-enabled drug delivery technology for hepatocellular carcinoma, intrahepatic cholangiocarcinoma, uveal melanoma with liver metastases, pancreatic ductal adenocarcinoma with liver metastases, colorectal cancer with liver metastases, and primary pancreatic cancers. The company is based in Westminster, Colorado.

How the Company Makes Money

TriSalus Life Sciences generates revenue through the development and commercialization of its proprietary drug delivery systems and therapeutic agents. The company earns income by licensing its technologies to pharmaceutical partners and through the sale of its products. Key revenue streams include licensing fees, royalties from partnered drugs, and direct sales of its therapies and delivery systems. Significant partnerships with leading pharmaceutical companies and healthcare providers contribute to its earnings by expanding the reach and application of its technologies.

TriSalus Life Sciences Financial Statement Overview

Summary

TriSalus Life Sciences shows strong revenue growth but faces significant financial challenges, including persistent losses, negative equity, and reliance on external financing. These factors indicate high financial risk despite promising revenue trends.

Income Statement

TriSalus Life Sciences has shown significant revenue growth over the years, with a 73% increase from 2022 to 2023 and a 59% increase from 2023 to 2024. However, the company remains unprofitable, with consistent negative net income and negative EBIT and EBITDA margins, indicating ongoing operational and profitability challenges.

Balance Sheet

The balance sheet reveals a problematic financial structure with substantial negative stockholders' equity, indicating that liabilities exceed assets. High levels of debt relative to equity suggest potential solvency concerns, although the debt-to-equity calculation is not feasible due to negative equity. The equity ratio is negative, reinforcing the company's financial instability.

Cash Flow

The cash flow statement highlights significant negative operating cash flows, which indicate challenges in generating cash from core operations. Despite a positive trend in financing cash flows, free cash flow remains negative, pointing to ongoing cash burn and reliance on external financing to sustain operations.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	35.99M	29.43M	18.51M	12.40M	8.40M	5.43M
Gross Profit	30.47M	25.33M	15.91M	10.14M	7.21M	3.24M
EBITDA	-25.63M	-36.16M	-58.30M	-46.76M	-23.57M	-25.32M
Net Income	-31.17M	-33.23M	-59.04M	-47.19M	-28.84M	-31.83M
Balance Sheet
Total Assets	41.32M	23.97M	25.73M	22.00M	37.84M	252.01M
Cash, Cash Equivalents and Short-Term Investments	26.49M	8.53M	11.78M	9.41M	30.30M	4.49M
Total Debt	33.66M	23.63M	1.59M	1.96M	544.00K	42.18M
Total Liabilities	60.74M	49.87M	51.66M	198.32M	167.44M	23.50M
Stockholders Equity	-19.42M	-25.89M	-25.94M	-176.33M	30.90M	228.52M
Cash Flow
Free Cash Flow	-29.25M	-41.19M	-51.17M	-33.10M	-23.95M	-1.22M
Operating Cash Flow	-28.37M	-40.84M	-50.58M	-32.31M	-22.70M	-677.60K
Investing Cash Flow	-840.00K	-345.00K	-2.12M	-1.79M	-2.26M	-250.00M
Financing Cash Flow	39.22M	37.94M	54.63M	13.46M	50.77M	252.01M

TriSalus Life Sciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.71
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TLSI, the sentiment is Negative. The current price of 4.71 is below the 20-day moving average (MA) of 4.83, below the 50-day MA of 4.83, and below the 200-day MA of 5.09, indicating a bearish trend. The MACD of 0.01 indicates Positive momentum. The RSI at 46.09 is Neutral, neither overbought nor oversold. The STOCH value of 21.99 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TLSI.

TriSalus Life Sciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
VMD	71 Outperform	$254.82M	19.39	10.79%	―	17.11%	45.34%
CVRX	58 Neutral	$270.93M	―	-92.33%	―	23.11%	18.06%
INGN	56 Neutral	$222.00M	―	-13.46%	―	5.15%	73.29%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OM	50 Neutral	$230.86M	―	-87.65%	―	2.47%	56.93%
TLSI	47 Neutral	$234.87M	―	―	―	45.50%	53.07%
NNOX	40 Underperform	$217.43M	―	-32.87%	―	17.36%	9.38%

TriSalus Life Sciences Corporate Events

TriSalus Life Sciences Grants CFO Stock Options

On August 25, 2025, TriSalus Life Sciences, Inc. approved an increase in the annual compensation of their Chief Financial Officer, Mr. David Patience, from $450,000 to $550,000. Additionally, on August 28, 2025, the company granted Mr. Patience stock options to purchase 249,899 shares of common stock, contingent upon the company achieving or exceeding $75 million in revenue over a twelve-month period before the end of 2027.

The most recent analyst rating on (TLSI) stock is a Hold with a $5.00 price target. To see the full list of analyst forecasts on TriSalus Life Sciences stock, see the TLSI Stock Forecast page.

TriSalus Life Sciences Reports Strong Growth Amid Challenges

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.

TriSalus Life Sciences Reports Strong Q2 2025 Growth

TriSalus Life Sciences, Inc. is an oncology-focused medical technology company that integrates innovative delivery technology with standard-of-care therapies to improve treatment outcomes for patients with solid tumors. The company recently reported its financial results for the second quarter of 2025, highlighting significant revenue growth and strategic advancements.