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. In the quarter to June 2026, revenue grew 1.73%, EPS grew 40.7%, free cash flow fell 41.3% and total debt rose 2.45%, each against the same quarter a year earlier. Revenue growth for three consecutive years; insiders bought in the last twelve months.
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TriSalus Life Sciences, Inc. (TLSI) Piotroski F-score
TriSalus Life Sciences, Inc.'s Piotroski F-score for fiscal 2025 is 3 out of 9: 3 of nine tests of profitability, leverage and efficiency passed, down from 4 in fiscal 2024.
Piotroski F-score, annual
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Annual newest first
| Period | Piotroski F-score | Change (points) |
|---|---|---|
| FY2025 | 3 | (1.00) |
| FY2024 | 4 | — |
How fiscal 2025’s score is made up
| Test | This year | Year before | Result | Points |
|---|---|---|---|---|
| Positive return on assets | (235.03%) | (136.85%) | Fail | 0 |
| Positive operating cash flow | (18.01m) | (40.84m) | Fail | 0 |
| Rising return on assets | (235.03%) | (136.85%) | Fail | 0 |
| Cash flow above net income | 51.68m | (7.61m) | Pass | 1 |
| Falling long-term leverage | 1.11 | 0.91 | Fail | 0 |
| Rising current ratio | 2.80 | 2.02 | Pass | 1 |
| No new shares issued | 37,898,000 | 25,332,000 | Fail | 0 |
| Rising gross margin | 84.57% | 86.06% | Fail | 0 |
| Rising asset turnover | 1.52 | 1.21 | Pass | 1 |
| Piotroski F-score | Weak — most fundamentals deteriorated | 3 | ||
How the Piotroski F-score works
One point for each of nine tests, this fiscal year against the one before: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, a rising current ratio, no new shares issued, a rising gross margin and rising asset turnover. The ratios are the ones on this site, so each can be checked.
Joseph Piotroski (2000) called 8–9 high and 0–1 low; reading it in three bands is the common convention:
| 7–9 | Strong — most fundamentals improved |
|---|---|
| 4–6 | Mixed |
| 0–3 | Weak — most fundamentals deteriorated |
Where this differs from the paper: return on assets is on average rather than beginning-of-year assets, and weighted basic shares stand in for shares issued. The score is shown only when all nine tests can be worked out, which takes three fiscal years; banks and insurers, which report no current assets or gross profit, have none.
Piotroski F-score against peers
| Company | Piotroski F-score |
|---|---|
| INFU InfuSystems Holdings, Inc. compare | 8 |
| ELMD Electromed, Inc. compare | 8 |
| CLPT ClearPoint Neuro, Inc. compare | 4 |
| LAB Standard BioTools Inc. compare | 4 |
| CATX Perspective Therapeutics, Inc. compare | 3 |
| TLSI TriSalus Life Sciences, Inc. | 3 |
| TMCI Treace Medical Concepts, Inc. compare | 2 |
| QSI Quantum-Si Incorporated compare | 2 |
| PROF Profound Medical compare | — |
What Piotroski F-score is
The Piotroski F-Score tells an investor how many signs of improving profitability, funding and efficiency a company shows against a year earlier.
One point for each of nine tests against a year earlier: positive return on assets, positive operating cash flow, rising return on assets, cash flow above net income, falling long-term leverage, rising current ratio, no new shares issued, rising gross margin, and rising asset turnover