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TriSalus Life Sciences, Inc.

For the period ended Mar 31, 2026. Filed May 12, 2026.

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About this filing

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.

Mar 31, 2026 · Filed May 12, 2026

TLSI$3.25-7.9%Stored close · as of Nov 6, 2026
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Table of Contents

Page
PART I. · FINANCIAL INFORMATION
Item 1.Financial Statements (Unaudited)4
Condensed Consolidated Balance Sheets4
Condensed Consolidated Statements of Operations5
Condensed Consolidated Statements of Stockholders’ Equity (Deficit)6
Condensed Consolidated Statements of Cash Flows7
Notes to Condensed Consolidated Financial Statements8
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27
Item 3.Quantitative and Qualitative Disclosures About Market Risk35
Item 4.Controls and Procedures35
PART II.OTHER INFORMATION
Item 1.Legal Proceedings37
Item 1A.Risk Factors37
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds37
Item 3.Defaults Upon Senior Securities37
Item 4.Mine Safety Disclosures37
Item 5.Other Information37
Item 6.Exhibits37
Signatures39

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

This Quarterly Report on Form 10-Q ("Quarterly Report") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). This includes, without limitation, statements regarding the financial position, business strategy, the plans and objectives of management for future operations, statements regarding future economic conditions or performance and statements of belief and any statement of assumptions underlying any of the foregoing. These statements constitute projections, forecasts and forward-looking statements, and are not guarantees of performance. We have based these forward-looking statements on our current expectations and projections about future events. Any statements that refer to projections, forecasts or other characterizations of future events or circumstances are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “could,” “seeks,” “approximately,” “predicts,” “intends,” “plans,” “estimates,” “anticipates” or the negative version of these words or other comparable words or phrases.

These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions about us that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Except as otherwise required by applicable law, we disclaim any duty to update any forward-looking statements, all of which are expressly qualified by the statements in this section, to reflect events or circumstances after the date of this Quarterly Report.

We caution you that these forward-looking statements are subject to numerous risks and uncertainties, most of which are difficult to predict and many of which are beyond our control. Some factors that could cause actual results to differ include:

our ability to raise financing in the future;

our ability to service our indebtedness and to access additional delayed draws that may in the future become available to us;

changes in applicable laws or regulations;

our ability to retain or recruit, or changes required in, our officers, key employees or directors;

our ability to successfully commercialize any product candidates that we successfully develop and that are approved by applicable regulatory authorities;

our expectations for the timing and results of data from clinical trials and regulatory approval applications;

our estimates regarding expenses, future revenue, capital requirements and needs for additional financing;

our business, operations and financial performance including:

our history of operating losses and expectations of significant expenses and continuing losses for the foreseeable future;

our ability to execute our business strategy, including the growth potential of the markets for our products and our ability to serve those markets;

our ability to grow market share in our existing markets or any new markets we may enter;

our ability to develop and maintain our brand and reputation;

our ability to partner with other companies;

the size of the addressable markets for our product candidates;

our expectations regarding our ability to obtain and maintain intellectual property protection and not infringe on the rights of others;

our ability to manage our growth effectively;

our ability to maintain the listing of our securities in the Nasdaq Global Market, and the potential liquidity and trading of such securities;

the outcome of any legal proceedings that may be instituted against us; and

unfavorable conditions in our industry, the global economy or global supply chain, including financial and credit market fluctuations, international trade relations, pandemics, political turmoil, natural catastrophes, warfare and terrorist attacks.

Given these risks and uncertainties, you should not place undue reliance on these forward-looking statements. Should one or more of the risks or uncertainties described in this Quarterly Report occur or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. For a further discussion of these and other factors that could cause our future results, performance or transactions to differ significantly from those expressed in any forward-looking statement, please see the section titled “Risk Factors” in our Annual Report and elsewhere in this Quarterly Report.

Except to the extent required by applicable law, we are under no obligation (and expressly disclaim any such obligation) to update or revise their forward-looking statements whether as a result of new information, future events or otherwise. You should read this Quarterly Report completely and with the understanding that our actual future results, levels of activity and performance as well as other events and circumstances may be materially different from what we expect. We qualify all of our forward-looking statements by these cautionary statements.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.