# TriSalus Life Sciences, Inc. (TLSI) · Edgar & Edgarette company card

> TriSalus Life Sciences (TLSI) grew revenue 53.4% in FY2025 to $45 million, operating margin -59.7% against a 1.2% median for surgical & medical instruments & apparatus, equity -95.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1826667 · fiscal year ended 2025-12-31 · 4 audited years read · [page](https://www.pops4.com/boards/company/TLSI) · [JSON](https://www.pops4.com/boards/company/TLSI.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $45M |
| Revenue growth, 1 year | 53.4% |
| Revenue growth per year | 53.8% |
| Operating margin | -59.7% (prior year -122.9%) |
| Net margin | -86.9% |
| Operating cash flow | −$18M |
| Capital spending | $918,000 |
| Free cash flow | −$19M |
| Cash | $20M |
| Long-term debt | $33M |
| Total assets | $35M |
| Total equity | −$34M |
| Equity ÷ assets | -95.8% |
| Return on equity | — |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -32.29 (distress zone)
- Piotroski F: 4 of 9 (middling)
- Health Harbor boat: Rotting at the dock · four or more warning signs · liabilities exceed assets (often from years of share buybacks, not always distress); operating cash flow was negative; operating loss: a margin of -59.7% in FY2025; revenue is hard to predict: its 80% range is ±43%
- Cash Compass: Fast, cash not yet · growing fast, but little cash arriving so far

## Edgarette's reading

Exposure: revenue $45.2M (FY2025), total debt $33.0M. Experience: revenue up 53.4% on the year, up 53.8% a year over 3 years; operating margin -59.7%, up from -122.9%. Soundness: equity -95.8% of assets (liabilities exceed assets). Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $43.1M and $107.1M next year (method v4.1: its own 3-year record of growth weighed at 40% against under $50M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $40.5M to $114.3M. A statistical range, not company guidance. Against peers (60 filers, $50M+ revenue, surgical & medical instruments & apparatus): operating margin -59.7% against a 1.2% median; growth 53.4% against 11.6%.

Range logged 2026-09-27, receipt ef8b06d2e201c3b1, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 5.02 Director or officer change: 3, latest 2026-04-29 ([filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026028425/0001628280-26-028425-index.htm))

## Recent filings

- 10-Q · filed 2026-11-10 · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026072515/0001628280-26-072515-index.htm)
- 8-K · filed 2026-11-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026072513/0001628280-26-072513-index.htm)
- 8-K · filed 2026-09-22 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026063031/0001628280-26-063031-index.htm)
- 10-Q · filed 2026-08-06 · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026054275/0001628280-26-054275-index.htm)
- 8-K · filed 2026-08-06 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026054264/0001628280-26-054264-index.htm)
- 8-K · filed 2026-05-14 · 5.07 Submission of Matters to a Vote of Security Holders · [filing](https://www.sec.gov/Archives/edgar/data/1826667/000162828026035068/0001628280-26-035068-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001826667.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1826667

## Cite

POPS4, Edgar & Edgarette: TriSalus Life Sciences, Inc. (TLSI) company card, from the company's own SEC filings, accessed 2026-11-12, https://www.pops4.com/boards/company/TLSI. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.