TriSalus Life Sciences (NASDAQ:TLSI) Announces Earnings Results, Misses Expectations By $0.02 EPS

TriSalus Life Sciences (NASDAQ:TLSI) released its quarterly earnings data on Tuesday. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.02), FiscalAI reports. The business had revenue of $12.88 million for the quarter, compared to analyst estimates of $14.02 million.

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

• Negative sentiment: Third-quarter revenue rose 11% year over year to $12.9 million, but growth was below expectations. TriSalus lowered its 2026 revenue outlook to $46 million–$48 million, or 2%–6% growth, citing slower productivity in new sales territories and a shift toward super-selective Y90 procedures.
• Positive sentiment: FDA clearance of TriNav Advance extends the company’s technology to small distal vessels, addressing procedures it previously could not fully serve. A limited release is underway; management said the product is not included in fourth-quarter revenue guidance.
• Positive sentiment: CMS finalized higher 2027 Medicare payment for Y90 mapping procedures and national pricing of about $13,788 for PEDD procedures in office-based labs. Management expects the changes to strengthen reimbursement and expand access across care settings.
• Positive sentiment: Gross margin improved to 86%, adjusted EBITDA loss narrowed to $4.7 million, and the company ended the quarter with about $41 million in cash, which management said funds its strategic growth plan.
• Neutral sentiment: TriSalus reported 11 active studies across 27 clinical sites and plans to advance comparative studies in liver cancer segments, alongside research in other indications. Upcoming evidence and publications could support adoption, though many milestones remain prospective.

TriSalus Life Sciences Trading Down 17.9%

NASDAQ:TLSI traded down $0.58 during midday trading on Tuesday, hitting $2.64. 1,028,096 shares of the company traded hands, compared to its average volume of 291,901. The firm’s fifty day moving average is $4.25 and its 200-day moving average is $4.35. TriSalus Life Sciences has a 12-month low of $2.20 and a 12-month high of $7.95. The firm has a market capitalization of $162.82 million, a P/E ratio of -2.03 and a beta of 0.50. The company has a current ratio of 5.35, a quick ratio of 4.97 and a debt-to-equity ratio of 5.05.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TLSI. Weiss Ratings restated a “sell (e+)” rating on shares of TriSalus Life Sciences in a report on Wednesday, November 4th. HC Wainwright increased their price target on shares of TriSalus Life Sciences from $11.00 to $12.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. Stifel Nicolaus set a $12.00 price target on TriSalus Life Sciences in a research report on Wednesday, September 23rd. Guggenheim set a $12.00 price target on TriSalus Life Sciences in a research report on Wednesday, September 23rd. Finally, Wall Street Zen cut TriSalus Life Sciences from a “hold” rating to a “sell” rating in a research note on Saturday. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.20.

About TriSalus Life Sciences

TriSalus Life Sciences is an oncology-focused healthcare company developing technologies and therapies for patients with liver and pancreatic tumors. The company combines medical devices, drug-delivery systems and immunotherapy programs to address tumors that may be difficult to treat with conventional approaches.

Its core technology is Pressure-Enabled Drug Delivery (PEDD), a platform designed to improve the delivery of therapeutic agents directly to tumors through the arterial blood supply.