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TriSalus Life Sciences (TLSI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 6, 2026 · TriSalus Life Sciences (TLSI) Q2 2026 earnings results →
Q2 2026 Revenue up 2% year over year to $11.4M · 81¢ of every $1 of revenue lost · operating margin -86.0%
TriSalus Life Sciences made $11.4M in Q2 2026 (+2% Y/Y). Operating margin -86.0%, net loss $9.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 6, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $11.4M in Q2 2026, up 2% year over year and up 28% from the previous quarter.
Gross margin was 86.8%, up 2.9 points from Q2 2025. Operating costs exceeded revenue by $9.8M, an operating margin of -86.0%. Operating expenses grew 18% against revenue growth of 2%. The fastest-growing cost line was Sales & marketing (+59%). The quarter ended with a net loss of $9.2M, after a profit of $1.5M the previous quarter.
Operating cash flow was −$10.1M. Non-cash charges added back $136K of depreciation and amortization and $2.6M of share-based compensation. Working capital and other items used $3.7M. Capital expenditures of $82K exceeded it, leaving free cash flow of −$10.2M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 6, 2026 | $11.4M | +2% | -86.0% | −$9.2M | −$10.1M |
| Q1 2026 | 10-Q | May 12, 2026 | $8.9M | -3% | -94.5% | $1.5M | −$6.5M |
| Q4 2025 | 10-K | Mar 5, 2026 | $13.2M | +60% | -24.8% | −$9.8M | −$2.5M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $11.6M | +57% | -77.9% | −$10.8M | −$3.7M |
| Q2 2025 | 10-Q | Aug 12, 2025 | $11.2M | +52% | -65.4% | −$8.3M | −$7.3M |
| Q1 2025 | 10-Q | May 15, 2025 | $9.2M | +42% | -79.9% | −$10.4M | −$4.5M |
| Q4 2024 | 10-K | Apr 15, 2025 | $8.3M | +44% | -91.8% | −$10.1M | −$5.7M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About TriSalus Life Sciences
Unless the context indicates otherwise, references in this Annual Report to the “Company,” “TriSalus,” “we,” “us,” “our” and similar terms refer to TriSalus Life Sciences, Inc. (f/k/a MedTech Acquisition Corp.), a Delaware corporation and its consolidated subsidiaries. We are a growing, oncology focused medical technology business seeking to transform outcomes for patients with solid tumors by integrating our innovative delivery technology with standard-of-care therapies, and with our investigational immunotherapeutic, nelitolimod, a class C Toll-like receptor 9 ("TRL9") agonist, for a range of different therapeutic and technology applications. Our ultimate goal is to transform the treatment paradigm for patients battling solid tumors.
In its own words, from its 10-K, filed Mar 5, 2026.
TriSalus Life Sciences against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +2% against the peers' median +5%. Operating margin: -86.0% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TLSI TriSalus Life Sciences | Q2 2026 | $11.4M | +2% | -86.0% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: TriSalus Life Sciences 10-Q on SEC EDGAR · CIK 1826667 · Surgical & Medical Instruments & Apparatus
13F: who owns TLSI and who is buying
More on TLSI
- How TriSalus Life Sciences makes money: revenue by segment
- TriSalus Life Sciences next earnings date and what analysts expect
- TriSalus Life Sciences stock forecast, price target and fair value
- Who owns TriSalus Life Sciences stock: holders, funds and Congress trades
- TriSalus Life Sciences recalls, complaints and regulation
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results