TriSalus Life Sciences (TLSI) AI Stock Analysis

• Market Cap: $178.49M
• Dividend Yield: N/A
• Average Volume (3M): 114.16K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.75
• Revenue Growth: 85.03%
• EPS Growth: 53.73%
• Country: US
• Employees: 110
• Sector: Healthcare
• Sector Strength: 37
• Industry: Medical - Devices
• EPS (TTM): -0.39
• Shares Outstanding: 37,975,815
• 10 Day Avg. Volume: 34,152
• 30 Day Avg. Volume: 114,159
• PEG Ratio: -0.34
• Price to Book (P/B): -3.96
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -5.10
• Enterprise Value/Market Cap: 1.12
• Enterprise Value/Revenue: 1.77
• Enterprise Value/Gross Profit: 7.27
• Enterprise Value/Ebitda: -1.31
• 1Y Price Target: $11.50
• Price Target Upside: 144.68% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 7

• Rating: 50 Neutral
• Price Target: $5.00 ▲(6.38%Upside)

TriSalus Life Sciences demonstrates promising revenue growth and strategic advancements in its earnings call, but financial instability and unprofitability weigh heavily on its overall score. The technical analysis and valuation components add to the moderate outlook.

Positive Factors

Product Expansion

The new larger size device, TriNav LV, addresses an additional ~25% of potential patients.

Revenue Growth

Revenue growth has continued with a 42% increase year-over-year in 1Q25.

Negative Factors

Financial Reporting

The company plans to delay filing its 10-K for 2024 due to errors in determining stock-based compensation and R&D expense timing.

Management Changes

The timing of the CFO announcement does not look good for TLSI.

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 makes money primarily through the development and commercialization of its proprietary drug delivery systems and therapeutic agents. Revenue is generated through the sale of these systems to healthcare providers and institutions. Additionally, the company may engage in partnerships or licensing agreements with pharmaceutical companies, which can provide significant income streams through upfront payments, milestone payments, and royalties based on product sales.

TriSalus Life Sciences Financial Statement Overview

Summary

TriSalus Life Sciences shows strong revenue growth but faces significant financial challenges. The company remains unprofitable, with negative net income and EBIT/EBITDA margins, negative equity, and negative operating cash flows, indicating financial instability and reliance on external financing.

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	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	29.43M	18.51M	12.40M	8.40M	5.43M
Gross Profit	25.33M	15.91M	10.14M	7.21M	3.24M
EBITDA	-36.16M	-58.30M	-46.76M	-23.57M	-25.32M
Net Income	-33.23M	-59.04M	-47.19M	-28.84M	-31.83M
Balance Sheet
Total Assets	23.97M	25.73M	22.00M	37.84M	252.01M
Cash, Cash Equivalents and Short-Term Investments	8.53M	11.78M	9.41M	30.30M	1.33M
Total Debt	23.63M	1.59M	1.96M	544.00K	42.18M
Total Liabilities	49.87M	51.66M	198.32M	167.44M	23.50M
Stockholders Equity	-25.89M	-25.94M	-176.33M	-129.60M	228.52M
Cash Flow
Free Cash Flow	-41.19M	-51.17M	-33.10M	-23.95M	-1.22M
Operating Cash Flow	-40.84M	-50.58M	-32.31M	-22.70M	-677.60K
Investing Cash Flow	-345.00K	-2.12M	-1.79M	-2.26M	-250.00M
Financing Cash Flow	37.94M	54.63M	13.46M	50.77M	252.01M

TriSalus Life Sciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 4.70
• 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 4.7 is below the 20-day moving average (MA) of 4.94, below the 50-day MA of 5.16, and below the 200-day MA of 4.96, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 42.57 is Neutral, neither overbought nor oversold. The STOCH value of 27.02 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
CVRX	59 Neutral	$224.22M	―	-76.01%	―	25.62%	11.86%
MYO	53 Neutral	$77.71M	―	-35.68%	―	69.17%	39.01%
OM	52 Neutral	$311.72M	―	-86.53%	―	-7.84%	42.34%
TLSI	50 Neutral	$178.49M	―	271.41%	―	85.03%	53.73%
LNSR	47 Neutral	$156.67M	―	-304.05%	―	28.24%	-334.39%
Sector *	46 Neutral	C$200.02M	-3.36	-23.14%	1.86%	20.75%	-0.36%
BDMD	―	$83.25M	―		―	―	―

TriSalus Life Sciences Corporate Events

TriSalus Launches Exchange Offer for Preferred Stock

On June 23, 2025, TriSalus Life Sciences announced the commencement of an exchange offer and consent solicitation for its Series A Convertible Preferred Stock. This initiative aims to streamline the company’s capital structure by allowing preferred shareholders to exchange their shares for common stock, thereby reducing potential dilution and improving transparency in equity value. Approximately 55% of preferred shareholders have agreed to the exchange and proposed amendments, which, if approved, will enable automatic conversion of remaining preferred shares into common stock. The offer is set to expire on July 23, 2025, and is contingent on certain conditions being met.

The most recent analyst rating on (TLSI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on TriSalus Life Sciences stock, see the TLSI Stock Forecast page.

TriSalus Life Sciences Holds Annual Shareholder Meeting

On June 12, 2025, TriSalus Life Sciences, Inc. held its Annual Meeting of Shareholders, where 73.2% of the total outstanding shares were represented. During the meeting, two directors were elected for three-year terms, and the appointment of Grant Thornton, LLP as the independent registered accounting firm for 2025 was ratified.

The most recent analyst rating on (TLSI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on TriSalus Life Sciences stock, see the TLSI Stock Forecast page.

TriSalus Life Sciences Appoints New Chief Financial Officer

On May 30, 2025, TriSalus Life Sciences announced the appointment of David B. Patience as the new Chief Financial Officer, effective July 1, 2025, following the resignation of James E. Young for personal reasons. This leadership transition is expected to support the company’s growth phase, leveraging Patience’s extensive experience in financial leadership and market analysis, which could enhance TriSalus’s strategic positioning in the oncology sector.

The most recent analyst rating on (TLSI) stock is a Buy with a $10.00 price target. To see the full list of analyst forecasts on TriSalus Life Sciences stock, see the TLSI Stock Forecast page.

TriSalus Life Sciences Announces $22M Private Placement

On April 30, 2025, TriSalus Life Sciences announced a securities purchase agreement to raise approximately $22 million through a private placement of common stock. This move is expected to fund the company to profitability and simplify its capital structure through an exchange offer for its Series A Convertible Preferred Stock. The company also reported preliminary Q1 2025 financial results, showing a 42% revenue growth compared to the previous year. The private placement, led by Nantahala Capital, involves healthcare-focused investors and aims to support the company’s strategic vision and operational growth.