TriSalus Life Sciences (NASDAQ:TLSI) Posts Quarterly Earnings Results, Meets Expectations

TriSalus Life Sciences (NASDAQ:TLSI) posted its earnings results on Thursday. The company reported ($0.16) earnings per share for the quarter, hitting the consensus estimate of ($0.16), FiscalAI reports. The firm had revenue of $11.41 million during the quarter, compared to the consensus estimate of $10.27 million.

Here are the key takeaways from TriSalus Life Sciences’ conference call:

• Q2 revenue reached $11.4 million, up sequentially and 1.7% year over year, while gross margin improved to 86.8% from 83.9% due to lower unit costs and manufacturing improvements.
• CMS issued a new G-code extending TriNav reimbursement into physician office-based labs, broadening access beyond hospitals and ambulatory surgery centers and potentially supporting adoption in liver, uterine, prostate, and genicular embolization.
• TriSalus has 11 active clinical studies across 27 sites involving more than 400 treated patients; additional trials are launching in the second half of 2026, while PETER data has been submitted for peer-reviewed publication and TriNav Advance remains under FDA review.
• Management reiterated 2026 revenue guidance of $54 million to $57 million, representing 19%–26% growth, and expects sequential growth acceleration in the second half as the expanded sales force becomes more productive and first-half expansion costs decline.
• The commercial build-out increased sales and marketing expenses to $11.4 million from $7.2 million, contributing to a wider adjusted EBITDA loss of $7.1 million versus $5.3 million a year earlier, although management said its $46.3 million cash balance funds the strategic plan.

TriSalus Life Sciences Price Performance

Shares of TLSI stock traded up $0.74 during trading hours on Friday, reaching $5.61. 700,814 shares of the company were exchanged, compared to its average volume of 307,538. TriSalus Life Sciences has a fifty-two week low of $2.20 and a fifty-two week high of $7.95. The company has a debt-to-equity ratio of 2.58, a current ratio of 5.78 and a quick ratio of 5.46. The stock’s fifty day moving average is $4.12 and its two-hundred day moving average is $4.30. The company has a market cap of $344.55 million, a price-to-earnings ratio of -3.98 and a beta of 0.43.

Analyst Ratings Changes

TLSI has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of TriSalus Life Sciences from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Lake Street Capital cut their target price on shares of TriSalus Life Sciences from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, TriSalus Life Sciences has an average rating of “Hold” and a consensus price target of $7.50.

Insider Activity at TriSalus Life Sciences

In other TriSalus Life Sciences news, CEO Mary T. Szela bought 39,682 shares of the business’s stock in a transaction on Friday, May 15th. The shares were bought at an average cost of $2.59 per share, for a total transaction of $102,776.38. Following the transaction, the chief executive officer owned 1,065,215 shares in the company, valued at approximately $2,758,906.85. This trade represents a 3.87% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Michael P. Stansky purchased 410,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were acquired at an average cost of $2.50 per share, with a total value of $1,025,000.00. Following the completion of the purchase, the director owned 1,240,722 shares of the company’s stock, valued at $3,101,805. The trade was a 49.35% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have bought a total of 719,682 shares of company stock worth $1,804,176 over the last 90 days. Insiders own 16.30% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of TriSalus Life Sciences by 138.3% in the 4th quarter. Wells Fargo & Company MN now owns 34,914 shares of the company’s stock valued at $244,000 after buying an additional 20,261 shares in the last quarter. MetLife Investment Management LLC acquired a new position in shares of TriSalus Life Sciences in the fourth quarter valued at approximately $127,000. Nuveen LLC boosted its holdings in shares of TriSalus Life Sciences by 77.5% in the fourth quarter. Nuveen LLC now owns 36,550 shares of the company’s stock valued at $255,000 after buying an additional 15,956 shares during the period. Deutsche Bank AG bought a new stake in shares of TriSalus Life Sciences during the fourth quarter worth $164,000. Finally, Millennium Management LLC increased its position in shares of TriSalus Life Sciences by 17.7% during the third quarter. Millennium Management LLC now owns 35,612 shares of the company’s stock worth $166,000 after acquiring an additional 5,359 shares in the last quarter. Institutional investors own 2.58% of the company’s stock.

About TriSalus Life Sciences

TriSalus Life Sciences, Inc is a clinical-stage biotechnology company focused on the development and commercialization of non-invasive drug–device combination therapies for oncology applications. Leveraging proprietary electroporation and ultrasound platforms, the company aims to enhance the localized delivery and efficacy of established chemotherapeutic agents while reducing systemic toxicity. Its lead programs target hard-to-treat head and neck cancers, where improved tumor control and patient tolerability remain significant unmet needs.

The company’s pipeline comprises investigational product candidates in early and mid-stage clinical trials, including studies that combine its electrochemotherapy platform with radiation therapy and immuno-oncology agents.