TriSalus Life Sciences - CW | 8-K: FY2025 Q1 Revenue: USD 9.167 M

Revenue: As of FY2025 Q1, the actual value is USD 9.167 M.

EPS: As of FY2025 Q1, the actual value is USD -0.39.

EBIT: As of FY2025 Q1, the actual value is USD -9.063 M.

Segment Revenue

• Revenue from the sale of the TriNav system was $9.2 million for the three months ended March 31, 2025, representing a 42% increase compared to the same period in 2024 and an 11% sequential growth over the fourth quarter of 2024.

Operational Metrics

• Gross margins were 84% for the three months ended March 31, 2025, compared to 85% for the same period in 2024, with the decline attributed to decreased production due to clean room expansion.
• Operating losses were $7.3 million for the three months ended March 31, 2025, compared to losses of $11.7 million for the same period in 2024, driven by increased sales and reduced research and development expenses.
• Net losses available to common stockholders were $10.4 million for the three months ended March 31, 2025, compared to losses of $13.2 million for the same period in 2024.
• Adjusted EBITDA losses were $5.5 million for the three months ended March 31, 2025, compared to losses of $10.4 million for the same period in 2024.

Cash Flow

• Cash and cash equivalents totaled $13.0 million as of March 31, 2025, with an additional $22.0 million raised in gross proceeds via a private placement in the second quarter.

Unique Metrics

• The company announced HCPCS code C8004 from CMS, expanding reimbursement coverage for mapping procedures using TriNav.

Outlook / Guidance

• TriSalus confirms its revenue guidance of 50% growth due to continued commercial momentum and increasing market adoption of the TriNav platform.
• The company is investing in strategic priorities to broaden its addressable market and drive sustained value creation, but does not expect to be adjusted EBITDA positive or cash flow positive in 2025.