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TriSalus Life Sciences (TLSI)
NASDAQ:TLSI
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TriSalus Life Sciences
(NASDAQ:TLSI)
50Neutral
Positive Factors
Product Launch
TriSalus is preparing to launch TriNav 2.0, which will provide clinicians with a more precise and controlled navigation and placement device.
Revenue Growth
TriSalus Life Sciences continued solid revenue growth of 59% year-over-year and has guided to over 50% growth for the next fiscal year.
Negative Factors
Filing Delay
The company plans to delay filing its 10-K for 2024 due to errors in determining stock-based compensation and R&D expense timing.
Stock Dilution Risk
The upcoming reset for the company’s Convertible Preferred Stock could potentially double the shares, which might dilute current stock value.
TriSalus Life Sciences (TLSI) vs. S&P 500 (SPY)
Market Cap
$164.91M
Dividend YieldN/A
Average Volume (3M)45.90K
Price to Earnings (P/E)―
Beta (1Y)0.87
Revenue Growth169.66%
EPS Growth28.89%
CountryUS
Employees110
SectorHealthcare
Sector Strength57
IndustryMedical - Devices
Share Statistics
EPS (TTM)-1.33
Shares Outstanding32,272,460
10 Day Avg. Volume22,929
30 Day Avg. Volume45,901
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)0.00
Price to Cash Flow (P/CF)0.00
P/FCF Ratio0.00
Enterprise Value/Market Cap0.93
Enterprise Value/RevenueN/A
Enterprise Value/Gross Profit9.63
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
$11.64Price Target Upside127.79% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
TriSalus Life Sciences Business Overview & Revenue Model
Company DescriptionTriSalus 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 MoneyTriSalus 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 is experiencing revenue growth but struggles with profitability and cash flow. The company faces significant financial risks, including high leverage and negative equity, suggesting a need for strategic improvements.Income Statement
TriSalus Life Sciences has demonstrated revenue growth from previous years, with a TTM total revenue increase of 45.22% compared to the previous annual period. However, the company remains unprofitable with negative net profit and EBIT margins, indicating ongoing operational challenges and high expenses relative to revenue.40
Negative
Balance Sheet
The balance sheet shows significant financial risk, with negative stockholders' equity and a high debt-to-equity ratio due to negative equity, indicating insolvency risk. The company’s liabilities exceed its assets, highlighting potential financial instability.20
Very Negative
Cash Flow
Cash flow analysis reveals negative operating and free cash flow, indicating that the company is not generating sufficient cash to cover its operational needs. Despite positive financing cash flow, which suggests reliance on external funding, the free cash flow trend is concerning.35
Negative
| Breakdown | |||
| Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|
| Income Statement | Total Revenue | ||
| 18.51M | 12.40M | 8.40M | 5.43M | Gross Profit |
| 15.91M | 10.14M | 7.21M | 3.24M | EBIT |
| -54.15M | -36.44M | -24.03M | -25.65M | EBITDA |
| -58.30M | -46.76M | -23.57M | -25.32M | Net Income Common Stockholders |
| -59.04M | -47.19M | -28.84M | -31.83M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | ||
| 11.78M | 9.41M | 30.30M | 1.33M | Total Assets |
| 25.73M | 22.00M | 37.84M | 252.01M | Total Debt |
| 1.59M | 1.96M | 544.00K | 42.18M | Net Debt |
| -10.18M | -7.45M | -29.76M | 40.85M | Total Liabilities |
| 51.66M | 198.32M | 167.44M | 23.50M | Stockholders Equity |
| -25.94M | -176.33M | -129.60M | 228.52M |
| Cash Flow | Free Cash Flow | ||
| -51.17M | -33.10M | -23.95M | -1.22M | Operating Cash Flow |
| -50.05M | -32.31M | -22.70M | -677.60K | Investing Cash Flow |
| -2.12M | -1.79M | -2.26M | -250.00M | Financing Cash Flow |
| 54.63M | 13.46M | 50.77M | 252.01M |
TriSalus Life Sciences Technical Analysis
Negative
5.11
Price Trends
5.48
Negative
5.18
Negative
4.98
Positive
Market Momentum
-0.04
Positive
36.23
Neutral
8.81
Positive
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 5.11 is below the 20-day moving average (MA) of 5.51, below the 50-day MA of 5.48, and above the 200-day MA of 4.98, indicating a neutral trend. The MACD of -0.04 indicates Positive momentum. The RSI at 36.23 is Neutral, neither overbought nor oversold. The STOCH value of 8.81 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TLSI.
TriSalus Life Sciences Risk Analysis
TriSalus Life Sciences disclosed 88 risk factors in its most recent earnings report. TriSalus Life Sciences reported the most risks in the “Tech & Innovation” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
TriSalus Life Sciences Peers Comparison
Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Neutral | $164.62M | ― | -95.42% | ― | 26.87% | -104.94% | |
53 Neutral | $175.58M | ― | -36.69% | ― | 69.17% | 39.01% | |
52 Neutral | $179.83M | ― | -170.97% | ― | -12.80% | 28.80% | |
52 Neutral | $5.35B | 3.96 | -42.60% | 2.86% | 17.58% | 1.27% | |
50 Neutral | $164.91M | ― | 271.41% | ― | 169.66% | 28.89% | |
50 Neutral | $207.15M | ― | -81.58% | ― | 30.53% | -35.97% |
* Healthcare Sector Average
Performance Comparison
TLSI
TriSalus Life Sciences
5.11
-4.51
-46.88%
MYO
Myomo
4.88
0.94
23.86%
OM
Outset Medical
12.25
-44.60
-78.45%
LNSR
LENSAR
13.96
10.75
334.89%
CVRX
CVRx
7.95
-0.02
-0.25%
BDMD
Baird Medical Investment Holdings
5.42
-5.56
-50.64%
TriSalus Life Sciences Earnings Call Summary
Earnings Call Date:Mar 27, 2025
(Q4-2024)
| % Change Since: -8.42%|
Next Earnings Date:May 14, 2025
Earnings Call Sentiment Neutral
TriSalus Life Sciences demonstrated strong revenue growth and expansion of its PEDD technology despite a challenging economic environment. The issuance of a new HCPCS code by CMS and strategic cost reductions were positive developments. However, the delay in filing the 10-K and ongoing operating losses highlight some operational challenges. The overall sentiment is cautiously optimistic with a focus on future growth.Q4-2024 Updates
Positive Updates
Strong Revenue Growth
TriSalus reported $29.4 million in net sales for 2024, reflecting a 59.4% growth over 2023. The company also achieved a 44% revenue increase in Q4 2024 compared to Q4 2023.
Expansion of PEDD Technology
The company successfully expanded its pressure-enabled drug delivery (PEDD) technology into new clinical applications, achieving 43% growth in unique ordering accounts and a 10% increase in average units sold per account.
New HCPCS Reimbursement Code
CMS issued a new HCPCS code C8004 for simulation or mapping procedures using TriNav, effective April 1, 2025, ensuring financial support for clinicians using TriNav in Medicare treatment planning.
Gross Margin Stability
TriSalus maintained a robust gross margin profile of 85% in Q4 2024 and 86% for the full year, indicating efficient cost management.
Significant Reduction in R&D Expenses
R&D expenses decreased by 62% in Q4 2024 compared to Q4 2023 and by 41% for the full year, reflecting strategic cost management.
Negative Updates
Delay in 10-K Filing
TriSalus filed a Form 12b-25 notification of late filing with the SEC for its annual report on Form 10-K for 2024 due to errors in stock-based compensation and R&D expenses.
Operating Losses
TriSalus reported operating losses of $7.6 million in Q4 2024, although this was an improvement from $14.2 million in Q4 2023. Year-to-date losses in 2024 amounted to $36.2 million.
Decreased General and Administrative Expenses
General and administrative expenses for the full year 2024 decreased by 24% compared to 2023, which may indicate strategic cost cutting but could also hint at potential resource constraints.
Company Guidance
During the TriSalus Life Sciences Fourth Quarter and Full Year 2024 Earnings Conference Call, the company provided guidance for 2025, projecting over 50% revenue growth, positive full-year EBITDA, and cash flow in the second half of the year. Key metrics from 2024 included $29.4 million in net sales, representing a 59.4% increase over 2023, and a 44% growth in the fourth quarter alone. The company expanded its market presence by opening 103 new accounts and increased the number of unique ordering accounts by 43%, with the average units sold per ordering account rising by 10%. TriSalus also reported robust gross margins of 85% in Q4 2024 and 86% for the full year. The company is advancing its pipeline, notably with the TriNav technology, and expects to continue its growth trajectory with strategic initiatives and expanded clinical applications.TriSalus Life Sciences Corporate Events
Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
TriSalus Life Sciences Announces $22M Private Placement
Positive
Apr 30, 2025
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.
Spark’s Take on TLSI Stock
According to Spark, TipRanks’ AI Analyst, TLSI is a Neutral.
TriSalus Life Sciences has demonstrated impressive revenue growth and potential for future expansion, supported by strategic initiatives. However, financial health remains a significant concern due to high leverage and persistent losses. Positive market momentum and cautious investor sentiment from the earnings call provide support, but valuation concerns due to ongoing losses weigh down the score.
To see Spark’s full report on TLSI stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.