TriSalus Life Sciences - CW | 8-K: FY2025 Q2 Revenue: USD 11.21 M

Revenue: As of FY2025 Q2, the actual value is USD 11.21 M.

EPS: As of FY2025 Q2, the actual value is USD -0.27.

EBIT: As of FY2025 Q2, the actual value is USD -6.837 M.

Segment Revenue

• TriSalus Life Sciences reported $11.2 million in revenue for the second quarter of 2025, marking a 52% increase year-over-year and a 22% growth quarter-over-quarter, driven by increased selling resources and market share expansion.

Operational Metrics

• Gross margins were 84% in the second quarter, down from 88% in the same period of 2024, due to lower manufacturing efficiency associated with newly launched products.
• Research and Development expenses decreased to $3.9 million from $4.7 million in the same quarter of the prior year, primarily due to reduced clinical trial costs for Nelitolimod.
• Sales and Marketing expenses increased to $7.2 million from $6.0 million, reflecting continued investment in commercial expansion.
• General & Administrative expenses rose to $5.7 million from $4.0 million, mainly due to increased professional services costs.
• Operating losses were reduced to $7.3 million from $8.2 million in 2024, attributed to decreased R&D expenses.
• Net loss attributable to common stockholders was $9.0 million, compared to $5.1 million in 2024, primarily due to non-cash adjustments to the fair value of contingent earnout liability.

Cash Flow

• As of June 30, 2025, cash and cash equivalents totaled $26.5 million, providing sufficient runway to reach positive adjusted EBITDA in the first half of 2026.

Unique Metrics

• Adjusted EBITDA losses were $5.3 million, compared to losses of $6.7 million for the same period in 2024, due to increased sales, reduced R&D expenses, and increased stock compensation.

Outlook / Guidance

• TriSalus Life Sciences reaffirmed its full-year revenue growth guidance of 50%, driven by increasing market penetration within liver-directed therapies and continued commercial momentum.