TriSalus Life Sciences (TLSI) Stock Fundamentals, Analysis & Risk Signals

Health score, price, valuation, risk signals, and key metrics at a glance.

TriSalus Life Sciences

NasdaqGM•Healthcare•Medical Devices

$5.00+0.02(<0.01%)Market closed

Market Cap

$282.74M

P/S

6.3x

P/B

43.2x

TriSalus Life Sciences, Inc. engages in the research, development, and commercialization of drug delivery technology platform and immuno-oncology therapeutics to improve outcomes for patients with difficult-to-treat liver and pancreatic cancers in the United States. It offers Pressure-Enabled Drug Delivery (PEDD) infusion systems, such as the TriNav infusion system, which is used in transarterial radioembolization and chemoembolization procedures for patients with liver cancer and metastases; and the Pancreatic Retrograde Venous Infusion device, which is in Phase 1 clinical trial for treating locally advanced pancreatic cancer. The company is also developing nelitolimod, an investigational immunotherapeutic in Phase 1 clinical trial for the treatment of uveal melanoma, intrahepatic cholangiocarcinoma, hepatocellular carcinoma, and pancreatic cancer. It serves interventional radiologists, IR technicians, medical oncologists, nursing support, and value analysis committee staff. The company was founded in 2009 and is headquartered in Westminster, Colorado.

How this company scores

AverageMetricSide Score: 52/100

Strongest: Growth (20/25); weakest: Cash & Earnings Quality (6/25).

Profitability15/25

Growth20/25

Balance Sheet & Red Flags11/25

Cash & Earnings Quality6/25

Strengths

Growing revenueProfit converts from growthConsistent growthNet cash position

Valuation vs. 5-year range

Today's multiple positioned against its own trailing range — a visual premium/discount check.

P/E · 8.8x5y range 8.8x – 51.9x

Currently below its 6-quarter median.

P/S · 6.3x5y range 3.5x – 13.0x

Currently above its 12-quarter median.

P/B · 43.2x5y range 7.9x – 43.2x

Watch items

Data-driven signals worth keeping an eye on across the last 8 quarters

High Risk

Margin Pressure

Red Flag

The company posted negative operating margins in recent quarters — core operations are unprofitable.

Earnings Quality

Red Flag

Free cash flow has been negative in 8 of the last 8 quarters — earnings are not translating to cash.

Price & Volume

Market Cap $282.74M

Metrics at a Glance

as of June 2026

Revenue & Profit

Revenue, EBITDA, operating income, net income, EPS, and shares

TTM Revenue: $45.08M
Q. Revenue: $11.41M
TTM EBITDA: $-29.95M
TTM Op. Income: $-30.51M
Q. Op. Income: $-9.81M
TTM Net Income: $-28.21M
Q. Net Income: $-9.19M
EPS: $-0.16
Shares Out.: $58.30M

$45.08M in TTM revenue grew 25.2% YoY, reaching $11.41M last quarter. TTM EBITDA of $-29.95M and TTM operating income of $-30.51M show growth is flowing through to the bottom line. However, net income is negative at $28.21M — growth is not yet reaching the bottom line. Over the past year, TTM revenue is up 25% — an improving trend.

Margins

Gross, EBITDA, operating, and net margin trends

Gross Margin: 86.8%
EBITDA Margin: -84.8%
Op. Margin: -86.0%
Net Margin: -80.5%

Op. margin of -86.0% is down 20.6% YoY — costs are rising relative to revenue. Net margin at -80.5% and gross margin of 86.8% show how much of each revenue dollar survives to profit. Over the past year, operating margin is down 32% — an improving trend.

Price Ratios

P/E, P/S, P/B, EV/EBITDA, FCF yield, and earnings yield

P/E Ratio: N/A
P/S Ratio: 6.3x
P/B Ratio: 43.2x

P/S of 6.3x and P/B of 43.2x.

Assets & Liabilities

Total assets, cash, debt, book value, and leverage

Total Assets: $62.45M
Cash: $46.29M
Long-Term Debt: $33.06M
Book Value: $6.55M
D/E Ratio: 5.0
Debt/EBITDA: N/A

With $62.45M in assets and $33.06M in long-term debt, D/E is 5.0and book value is $6.55M — elevated leverage, meaning significant financial risk in a downturn. Over the past year, debt/equity is up 0% — a weakening trend.

Cash Flow

Operating cash flow, free cash flow, FCF margin, and earnings quality

Op. Cash Flow: $-10.13M
TTM Free Cash Flow: $-23.28M
FCF Margin: -51.6%
FCF / Net Income: 0.8

TTM FCF of $-23.28M on $-10.13M in operating cash flow. The FCF / Net Income ratio of 0.8x means free cash flow covers net income — earnings are backed by cash. Across the last 8 quarters, free cash flow has fallen for 2 consecutive quarters — a weakening trend.