Filing Flows › TriSalus Life Sciences (TLSI) › Q4 2025
TriSalus Life Sciences (TLSI) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 5, 2026
TriSalus Life Sciences (TLSI) reported revenue of $13.2M for the fourth quarter 2025 (Q4 2025), +60% from a year earlier and +14% from the quarter before. Operating margin was -24.8%, net loss $9.8M (73.9% of revenue).
TriSalus Life Sciences, Q4 2025: revenue $13.2M (+60% year over year), operating margin -24.8%, net loss $9.8M, operating cash flow −$2.5M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.2M | +14% | +60% |
| Operating profit | −$3.3M | — | — |
| Net earnings | −$9.8M | — | — |
| Operating cash flow | −$2.5M | — | — |
What changed
Revenue was $13.2M in Q4 2025, up 60% year over year and up 14% from the previous quarter.
Gross margin was 86.7%, up 1.4 points from Q4 2024. Operating costs exceeded revenue by $3.3M, an operating margin of -24.8%. Operating expenses grew 1% against revenue growth of 60%. The fastest-growing cost line was Sales & marketing (+14%). The quarter ended with a net loss of $9.8M, narrower than the previous quarter's $10.8M loss. Net interest and other expense of $6.5M was the main reason.
Operating cash flow was −$2.5M. Non-cash charges added back $126K of depreciation and amortization and $2.2M of share-based compensation. Working capital and other items added $4.9M. Capital expenditures of $41K exceeded it, leaving free cash flow of −$2.5M.
Questions
What was TriSalus Life Sciences' revenue in the fourth quarter 2025?
TriSalus Life Sciences (TLSI) reported revenue of $13.2M for the fourth quarter 2025 (Q4 2025), +60% from a year earlier and +14% from the quarter before.
Was TriSalus Life Sciences profitable in the fourth quarter 2025?
Operating loss was $3.3M (-24.8% of revenue) and net loss $9.8M.