A Business at a Glance
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Unless the context indicates otherwise, references in this Annual Report to the “Company,” “TriSalus,” “we,” “us,” “our” and similar terms refer to TriSalus Life Sciences, Inc. (f/k/a MedTech Acquisition Corp.), a Delaware corporation and its consolidated subsidiaries. We are a growing, oncology focused medical technology business seeking to transform outcomes for patients with solid tumors by integrating our innovative delivery technology with standard-of-care therapies, and with our investigational immunotherapeutic, nelitolimod, a class C Toll-like receptor 9 ("TRL9") agonist, for a range of different therapeutic and technology applications. Our ultimate goal is to transform the treatment paradigm for patients battling solid tumors.
| Metric | TTM | FY2024 | FY2023 | FY2022 |
|---|---|---|---|---|
| Revenue | 40M | 29M | - | 12M |
| Net Income | -40M | -33M | -64M | - |
| EPS | $-2.12 | $-1.31 | $-6.77 | $-161.55 |
| Free Cash Flow | -22M | -41M | -51M | -33M |
| ROIC | -67.7% | -119.2% | -175.0% | - |
| Gross Margin | 84.0% | 86.1% | - | 81.8% |
| Debt/Equity | 0.00 | -0.85 | -0.00 | -1.12 |
| Dividends/Share | $0.00 | - | - | - |
| Operating Income | -31M | -36M | -54M | -36M |
| Operating Margin | -77.7% | -122.9% | - | -293.9% |
| ROE | 0.0% | - | - | - |
| Shares Outstanding | 50M | 25M | 32M | 27M |
| Metric | 2022 | |||
|---|---|---|---|---|
| Income Statement | ||||
| Revenue | 12M | N/A | 29M | 40M |
| Gross Margin | 81.8% | N/A | 86.1% | 84.0% |
| R&D | N/A | N/A | N/A | N/A |
| SG&A | N/A | N/A | N/A | N/A |
| EBIT | -36M | -54M | -36M | -31M |
| Op. Margin | -293.9% | N/A | -122.9% | -77.7% |
| Net Income | N/A | -64M | -33M | -40M |
| Net Margin | N/A | N/A | -112.9% | -98.4% |
| Non-Recurring | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||
| ROIC | N/A | -175.0% | -119.2% | -67.7% |
| ROE | N/A | N/A | N/A | 0.0% |
| ROA | N/A | -258.6% | -136.8% | -108.6% |
| Cash Flow | ||||
| Op. Cash Flow | -32M | -51M | -41M | -21M |
| Free Cash Flow | -33M | -51M | -41M | -22M |
| Owner Earnings | -33M | -53M | -47M | -27M |
| CapEx | 655K | 588K | 345K | 927K |
| Maint. CapEx | 398K | 684K | 744K | 744K |
| Growth CapEx | 257K | 0 | 0 | 183K |
| D&A | 398K | 684K | 744K | 744K |
| CapEx/OCF | N/A | N/A | N/A | 0.0% |
| Capital Allocation | ||||
| Dividends Paid | 0 | 0 | 0 | 0 |
| Dividend Yield | N/A | N/A | N/A | N/A |
| Share Buybacks | 0 | 0 | 0 | 0 |
| Buyback Yield | N/A | N/A | N/A | 0.0% |
| Stock-Based Comp | 368K | 1.4M | 5.4M | 5.4M |
| Debt Repayment | 0 | 0 | 2.6M | 2.6M |
| Balance Sheet | ||||
| Net Debt | N/A | -12M | 14M | 10M |
| Cash & Equiv. | N/A | N/A | N/A | 23M |
| Long-Term Debt | N/A | 0 | 22M | 22M |
| Debt/Equity | -1.12 | 0.00 | -0.85 | 0.00 |
| Interest Coverage | -36439.0 | -3404.7 | -11.7 | -11.7 |
| Equity | -176M | -27M | -26M | -27M |
| Total Assets | 22M | 25M | 24M | 36M |
| Total Liabilities | 198M | 52M | 50M | 63M |
| Intangibles | N/A | N/A | N/A | N/A |
| Retained Earnings | -186M | -250M | -280M | -280M |
| Working Capital | -15M | 6.2M | 10M | 10M |
| Current Assets | 17M | 21M | 21M | 21M |
| Current Liabilities | 32M | 15M | 10M | 10M |
| Per Share Data | ||||
| EPS | -161.55 | -6.77 | -1.31 | -2.12 |
| Owner EPS | -1.24 | -1.63 | -1.85 | -0.55 |
| Book Value | -6.59 | -0.84 | -1.02 | -0.53 |
| Cash Flow/Share | -1.21 | -1.57 | -1.61 | -0.78 |
| Dividends/Share | N/A | N/A | N/A | 0.00 |
| Shares Out. | 26.8M | 32.3M | 25.4M | 50.0M |
| Valuation | ||||
| P/E Ratio | N/A | N/A | N/A | -2.1 |
| P/FCF | N/A | N/A | N/A | N/A |
| EV/EBIT | N/A | N/A | N/A | N/A |
| Price/Book | N/A | N/A | N/A | N/A |
| Price/Sales | 21.4 | N/A | 5.9 | 5.5 |
| FCF Yield | -12.3% | -18.3% | -33.5% | -10.1% |
| Market Cap | 268M | 280M | 123M | 220M |
| Avg. Price | 9.90 | 8.52 | 6.79 | 4.40 |
| Year-End Price | 10.02 | 8.68 | 4.84 | 4.40 |
TriSalus Life Sciences, Inc. passes 1 of 9 quality checks, indicating weak fundamentals.
The company's 5-year average gross margin is 83.9%.
TriSalus Life Sciences, Inc. (TLSI) has a 5-year average return on invested capital (ROIC) of -147.1%. This is below average and may indicate limited pricing power.
TriSalus Life Sciences, Inc. (TLSI) has a market capitalization of $220M. It is classified as a small-cap stock.
TriSalus Life Sciences, Inc. (TLSI) does not currently pay a regular dividend.
TriSalus Life Sciences, Inc. (TLSI) operates in the Surgical & Medical Instruments & Apparatus industry, within the Healthcare sector.
TriSalus Life Sciences, Inc. (TLSI) reported annual revenue of $29 million in its most recent fiscal year, based on SEC EDGAR filings.
TriSalus Life Sciences, Inc. (TLSI) has a net profit margin of -112.9%. The company is currently unprofitable.
TriSalus Life Sciences, Inc. (TLSI) generated $-41 million in free cash flow in its most recent fiscal year. Negative free cash flow may indicate heavy investment or operational challenges.
TriSalus Life Sciences, Inc. (TLSI) reported earnings per share (EPS) of $-1.31 in its most recent fiscal year.
TriSalus Life Sciences, Inc. (TLSI) has a 5-year average gross margin of 83.9%. This high margin suggests strong pricing power and a potential competitive moat.
The Ledger Terminal provides 3 years of financial data for TriSalus Life Sciences, Inc. (TLSI), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
TriSalus Life Sciences, Inc. (TLSI) has a book value per share of $-1.02, based on its most recent annual SEC filing.