Filing Flows › TriSalus Life Sciences (TLSI) › Q1 2026
TriSalus Life Sciences (TLSI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
TriSalus Life Sciences (TLSI) reported revenue of $8.9M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -33% from the quarter before. Operating margin was -94.5%, net earnings $1.5M (17.3% of revenue).
TriSalus Life Sciences, Q1 2026: revenue $8.9M (-3% year over year), operating margin -94.5%, net earnings $1.5M, operating cash flow −$6.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $8.9M | -33% | -3% |
| Operating profit | −$8.4M | — | — |
| Net earnings | $1.5M | — | — |
| Operating cash flow | −$6.5M | — | — |
What changed
Revenue was $8.9M in Q1 2026, down 3% year over year and down 33% from the previous quarter.
Gross margin was 86.2%, up 2.5 points from Q1 2025. Operating costs exceeded revenue by $8.4M, an operating margin of -94.5%. Operating expenses grew 7% against a revenue fall of 3%. The fastest-growing cost line was Sales & marketing (+10%). Net earnings were $1.5M. The effective tax rate was 0.3%. Non-operating items added $10.0M, 645% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$6.5M. Non-cash charges added back $135K of depreciation and amortization and $2.5M of share-based compensation. Working capital and other items used $10.6M. Capital expenditures of $141K exceeded it, leaving free cash flow of −$6.6M.
Questions
What was TriSalus Life Sciences' revenue in the first quarter 2026?
TriSalus Life Sciences (TLSI) reported revenue of $8.9M for the first quarter 2026 (Q1 2026), -3% from a year earlier and -33% from the quarter before.
Was TriSalus Life Sciences profitable in the first quarter 2026?
Operating loss was $8.4M (-94.5% of revenue) and net earnings $1.5M.