TriSalus Life Sciences, Inc.
For the period ended Sep 30, 2025. Filed Nov 13, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 13, 2025
TLSI$2.85-11.5%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
Nine months ended September 30, 2025 and 2024
(unaudited, in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities | ||
| Net loss | $(29,474) | $(19,937) |
| Adjustments to reconcile net loss to net cash used in operating activities | ||
| Depreciation | 500 | 551 |
| Non-cash lease expense | 407 | 233 |
| Change in fair value of SEPA, warrant and revenue base redemption liabilities | 4,097 | 1,521 |
| Change in fair value of contingent earnout liability | (2,404) | (12,061) |
| Paid-in-kind interest | 800 | 377 |
| Stock-based compensation expense | 6,934 | 3,744 |
| Allowance for credit losses | 130 | — |
| Loss on disposal of property and equipment | 117 | 18 |
| Amortization of debt issuance costs | 767 | 434 |
| Changes in operating assets and liabilities | ||
| Accounts receivable | (43) | (1,358) |
| Inventory, net | 772 | (1,455) |
| Prepaid expenses and other assets | 648 | (2,323) |
| Deposits | — | 43 |
| Operating lease liabilities | (107) | (238) |
| Trade payables and accrued liabilities | 1,328 | (4,685) |
| Net cash used in operating activities | (15,528) | (35,136) |
| Cash flows from investing activities | ||
| Purchases of property and equipment | (877) | (295) |
| Proceeds from the disposal of property and equipment | 80 | — |
| Net cash used in investing activities | (797) | (295) |
| Cash flows from financing activities | ||
| Proceeds from the issuance of common stock | 22,211 | 12,586 |
| Common stock issuance costs | (1,549) | — |
| Debt issuance costs | (520) | (2,593) |
| Proceeds from the issuance of debt | 10,000 | 25,000 |
| Payments on finance lease liabilities | (78) | (65) |
| Proceeds from the exercise of stock options for common stock | 423 | 14 |
| Net cash provided by financing activities | 30,487 | 34,942 |
| Increase (decrease) in cash, cash equivalents and restricted cash | 14,162 | (489) |
| Cash, cash equivalents and restricted cash, beginning of period | 8,875 | 12,127 |
| Cash, cash equivalents and restricted cash, end of period | $23,037 | $11,638 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid for interest | $2,528 | $1,757 |
| Cash paid for income taxes | $16 | $4 |
| Supplemental disclosures of non-cash items: | ||
| Prepaid warrant issuance costs | $— | $1,700 |
| Right-of-use assets obtained in exchange for operating lease liabilities | $— | $464 |
| Fixed asset purchase through exchange of finance lease right-of-use asset | $85 | $— |
| Derecognition of finance lease right-of-use asset | $(85) | $— |
| Non-cash capital expenditures included in accounts payable | $63 | $— |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.