Revenue: As of FY2026 Q1, the actual value is USD 8.899 M.

EPS: As of FY2026 Q1, the actual value is USD 0.03.

EBIT: As of FY2026 Q1, the actual value is USD -7.139 M.

Financial and Operational Metrics for Q1 2026

Gross Profit and Margin

TriSalus Life Sciences reported a gross profit of $7.669 million for the three months ended March 31, 2026, which was a slight decrease from $7.672 million in the same period of 2025. The gross margin improved to 86.2% in Q1 2026, up from 83.7% in Q1 2025, primarily due to a lower average cost per TriNav unit.

Operating Expenses

Research and development expenses increased to $3.216 million in Q1 2026, compared to $3.021 million in Q1 2025. Sales and marketing expenses rose to $7.413 million in Q1 2026 from $6.734 million in Q1 2025, driven by commercial expansion. General and administrative expenses also increased to $5.451 million in Q1 2026 from $5.246 million in Q1 2025.

Operating Loss

Loss from operations for Q1 2026 was - $8.411 million, an increase in loss compared to - $7.329 million for the same period in 2025. This increase was mainly due to higher sales and marketing expenses and increased non-cash stock-based compensation, partially offset by improved gross margins.

Net Income (Loss) Attributable to Common Stockholders

Net income attributable to common stockholders was $1.539 million for Q1 2026, a significant improvement from a net loss of - $11.087 million in Q1 2025. This change was primarily due to $11.3 million in non-cash gains related to changes in the fair value of various derivatives in the current period, compared to - $1.7 million in losses for the same period in 2025.

Adjusted EBITDA

Adjusted EBITDA losses for Q1 2026 were - $5.804 million, compared to losses of - $5.537 million for Q1 2025. The increase in adjusted EBITDA losses was primarily driven by higher stock-based compensation and increased operating expenses.

Cash and Cash Equivalents

As of March 31, 2026, cash and cash equivalents totaled $56.553 million, a substantial increase from $20.439 million as of December 31, 2025.

Cash Flow from Operating Activities

Net cash used in operating activities for the three months ended March 31, 2026, was - $6.480 million, compared to - $4.499 million used in the same period of 2025.

Equity Funding

TriSalus Life Sciences completed a public offering during the quarter, raising $42.625 million in net proceeds from the issuance of common stock. The company believes these proceeds provide sufficient cash runway to fully fund commercial expansion and pipeline development.

Unique Operational Metrics

A landmark, real-world PEDD® Study of over 16,800 patients found that PEDD technology was associated with fewer post-procedure complications, reduced hospitalizations, and approximately $7,700 in per-patient charge avoidance, despite PEDD patients having greater baseline clinical complexity. New clinical and preclinical PEDD data were also presented across multiple oncology and embolization applications.

Outlook / Guidance

TriSalus Life Sciences revised its 2026 revenue guidance to $54 million to $57 million, reflecting the impact of commercial expansion and the timing of FDA clearance for TriNav® Advance. The company believes the long-term growth opportunity for the PEDD platform remains substantial.