Friday 6 November 2026
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TriSalus Life Sciences, Inc.
TLSI Healthcare Medical Devices
TriSalus Life Sciences, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $45.2 million, up 53.4% from fiscal 2024.
- Revenue
- +1.73%
- EPS
- +40.7%
- Free cash flow
- −41.3%
- Total debt
- +2.45%
Quarter to June 2026, against a year earlier
3.42
0.11
−3.12%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | — | 12 | 19 | 29 | 45 | 45 | +53.9% | 53 | 75 | 105 | +32.4% | |
| Gross margin, % | — | — | — | — | — | — | 81.79 | 85.93 | 86.06 | 84.57 | 85.79 | +2.8 pt | ||||||
| EBT | — | — | — | — | (1) | 5 | (47) | (59) | (30) | (39) | (28) | +123.0% | ||||||
| EBT margin, % | — | — | — | — | 0.00 | 0.00 | (380.53) | (320.64) | (102.07) | (86.86) | (62.56) | (86.9) pt | ||||||
| Net income | — | 0 | — | — | (1) | 5 | (47) | (59) | (30) | (39) | (28) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 0.00 | 39.99 | 1.97 | 1.16 | 1.19 | 0.77 | n/m | |||||
| Earnings | — | — | — | — | (0.11) | 0.76 | (152.22) | (6.73) | (1.31) | (1.84) | (1.30) | +74.8% | ||||||
| Cash flow | — | — | — | — | (0.11) | (0.28) | (104.24) | (5.38) | (1.61) | (0.48) | (0.39) | +34.7% | ||||||
| Capex | — | — | — | — | 0.00 | 0.00 | (2.54) | (0.12) | (0.01) | (0.02) | (0.01) | n/m | ||||||
| Free cash flow | — | — | — | — | (0.11) | (0.28) | (106.77) | (5.50) | (1.63) | (0.50) | (0.40) | +35.9% | ||||||
| Book value | — | — | — | — | (3.40) | (2.67) | (568.81) | (2.88) | (1.02) | (0.89) | 0.11 | (23.5%) | ||||||
| Shares, m | — | — | — | — | 6 | 6 | 0 | 9 | 25 | 38 | 48 | +43.1% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | — | — | — | 0.00 | 4.19 | 4.31 | 5.86 | 4.60 | 3.6 | ||||||
| P/B | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 31.69 | 0.0 | ||||||
| EV/Sales | — | — | — | — | — | — | 0.00 | 3.64 | 4.78 | 6.14 | 4.32 | 3.6 | ||||||
| EV/FCF | — | — | — | — | — | — | 0.12 | (1.30) | (3.36) | (14.16) | (8.11) | (4.7) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | (1) | (2) | (32) | (51) | (41) | (18) | (23) | +92.7% | |||||
| Capex | — | — | — | — | — | — | (1) | (1) | 0 | (1) | 0 | +2.2% | ||||||
| Free cash flow | — | — | — | — | (1) | (2) | (33) | (52) | (41) | (19) | (23) | +94.5% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 2 | (1) | (15) | 6 | 10 | 21 | 49 | +61.2% | |||||
| Net debt | — | — | — | — | (1) | 0 | (8) | (12) | 14 | 13 | (13) | n/m | ||||||
| Shareholders’ equity | — | — | — | — | (21) | (17) | (176) | (27) | (26) | (34) | 7 | +9.5% | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (0.56) | 1.90 | (36.71) | (273.01) | (136.85) | (235.03) | (113.09) | (234.5) pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 pt | ||||||
| ROE | — | — | — | — | (0.60) | (24.96) | 51.82 | 62.54 | 125.50 | 233.25 | 911.60 | +233.8 pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | — | — | 3 | 112 | 110 | 102 | — | +224.0% | |||||
| Revenue/emp, $m | — | — | — | — | — | — | 4.13 | 0.17 | 0.27 | 0.44 | — | (52.5%) | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
TriSalus Life Sciences, Inc. vs peers in Medical Devices (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| TMCI Treace Medical Concepts, Inc. | $271.9M | — (loss-making) | — (loss-making) | −4.24% (below 0%: shrinking) | n/m | +11.74% (above 0%: growing) | 78.47% | (32.96%) | Compare |
| INFU InfuSystems Holdings, Inc. | $270.1M | 32.0× | 33.0× | +2.59% (above 0%: growing) | +33.33% (above 0%: growing) | −66.54% (below 0%: shrinking) | 57.98% | 11.24% | Compare |
| QSI Quantum-Si Incorporated | $256.1M | — (loss-making) | — (loss-making) | −61.59% (below 0%: shrinking) | n/m | +37.48% (above 0%: growing) | 34.91% | (11,215.09%) | Compare |
| PROF Profound Medical | $251.3M | — (loss-making) | — (loss-making) | +85.86% (above 0%: growing) | n/m | +47.93% (above 0%: growing) | 78.13% | (79.56%) | Compare |
| LAB Standard BioTools Inc. | $245.7M | 1.8× | — (loss-making) | −0.85% (below 0%: shrinking) | n/m | +73.32% (above 0%: growing) | 55.86% | (101.98%) | Compare |
| ELMD Electromed, Inc. | $221.8M | 19.4× | 18.6× | +11.64% (above 0%: growing) | +57.69% (above 0%: growing) | −25.15% (below 0%: shrinking) | 78.71% | 19.70% | Compare |
| TLSI TriSalus Life Sciences, Inc. | $217.4M | — (loss-making) | — (loss-making) | +1.73% (above 0%: growing) | n/m | −41.29% (below 0%: shrinking) | 86.78% | (86.03%) | |
| RXST RxSight, Inc. | $190.4M | — (loss-making) | — (loss-making) | −18.97% (below 0%: shrinking) | n/m | +2,591.06% (above 0%: growing) | 73.62% | (75.32%) | Compare |
| STIM Neuronetics, Inc. | $185.2M | — (loss-making) | — (loss-making) | +12.51% (above 0%: growing) | n/m | +237.71% (above 0%: growing) | 52.17% | 1.29% | Compare |
| Median of peers | $248.5M | 19.4× | — | +0.87% | — | +42.71% | 65.80% | (54.14%) |
Pay and ownership Proxy statement filed 31 March 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 4.82m | 6.89m | 83.00 |
| 2024 | 4.14m | 1.52m | 59.00 |
Ownership
Directors and executive officers, together
16.30%
Frankenius Equity AB
11.40%
Utmost Group PLC
5.50%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement