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$3.22-0.9%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(unaudited, in thousands, except share and per share data)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue | $11,566 | $7,349 | $31,946 | $21,170 |
| Cost of goods sold | 1,906 | 1,004 | 5,203 | 2,887 |
| Gross profit | 9,660 | 6,345 | 26,743 | 18,283 |
| Operating expenses | ||||
| Research and development (1) | 5,176 | 4,219 | 12,395 | 14,729 |
| Sales and marketing | 6,839 | 6,138 | 20,736 | 18,829 |
| General and administrative (1) | 6,659 | 4,727 | 17,287 | 13,310 |
| Loss from operations | (9,014) | (8,739) | (23,675) | (28,585) |
| Other income (expense) | ||||
| Interest income | 170 | 158 | 378 | 347 |
| Interest expense | (1,460) | (1,142) | (4,092) | (2,022) |
| Change in fair value of SEPA, warrant and revenue base redemption liabilities | (2,932) | 4,974 | (4,097) | (1,521) |
| Change in fair value of contingent earnout liability | 2,524 | 2,360 | 2,404 | 12,061 |
| Other expense, net | (94) | (13) | (385) | (210) |
| Loss before income taxes | (10,806) | (2,402) | (29,467) | (19,930) |
| Income tax benefit (expense) | (5) | 3 | (7) | (7) |
| Net loss | $(10,811) | $(2,399) | $(29,474) | $(19,937) |
| Series A Preferred Stock conversion inducement | $(18,516) | $— | $(18,516) | $— |
| Deemed dividend related to Series A Preferred Stock conversion | (11,947) | — | (11,947) | — |
| Undeclared dividends on Series A Preferred Stock | — | (803) | — | (2,405) |
| Net loss attributable to common stockholders | $(41,274) | $(3,202) | $(59,937) | $(22,342) |
| Net loss per common share, basic and diluted | $(0.96) | $(0.12) | $(1.72) | $(0.91) |
| Weighted average common shares outstanding, basic and diluted | 43,057,632 | 26,501,597 | 34,858,162 | 24,588,500 |
| (1) Amounts presented in prior 2025 interim periods have been revised in the year to date ended September 30, 2025 to align expense classification for the year to date period. | ||||
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