Trisalus Life Sciences, Inc. key statistics and ratios

In fiscal 2025, Trisalus Life Sciences, Inc. had an operating margin of -59.7% and a current ratio of 2.80. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Trisalus Life Sciences, Inc.: financial ratios, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	81.8%	85.9%	86.1%	84.6%	85.8%
Operating margin	−293.9%	−294.3%	−122.9%	−59.7%	−67.7%
Net margin	−380.6%	−320.7%	−102.1%	−86.9%	−62.6%
Free-cash-flow margin	−265.9%	−276.4%	−139.9%	−41.9%	−51.6%
Return on assets	−214.5%	−254.8%	−123.7%	−132.3%	−57.7%
Asset turnover	0.56	0.79	1.21	1.52	0.92
Current ratio	0.53	1.42	2.02	2.80	5.35
Debt to equity	—	—	—	—	504.8%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m
R&D as % of revenue	172.3%	161.2%	60.1%	33.1%	31.3%
Capital spending as % of revenue	5.3%	3.2%	1.2%	2.0%	1.1%

US$ thousands unless shown otherwise. Fiscal quarters.

Trisalus Life Sciences, Inc.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	86.3%	85.3%	83.7%	83.9%	83.5%	86.7%	86.2%	86.8%
Operating margin	−118.9%	−91.8%	−79.9%	−65.4%	−77.9%	−24.8%	−94.5%	−86.0%
Net margin	−32.6%	−122.4%	−113.2%	−73.9%	−93.5%	−73.9%	17.3%	−80.5%
Free-cash-flow margin	−149.9%	−69.7%	−57.3%	−64.5%	−33.9%	−19.1%	−74.4%	−89.5%
Current ratio	2.40	2.02	2.14	4.08	3.05	2.80	5.78	5.35
Debt to equity	—	—	—	—	—	—	258.3%	504.8%
R&D as % of revenue	57.4%	35.8%	33.0%	32.7%	44.8%	19.5%	36.1%	27.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

3 of 6 checks passed · June 30, 2026

What it owns · $62m

Short-term assets $60mLonger-term assets $3m

What it owes, and who funded it · $62m

Short-term liabilities $11mLonger-term liabilities $45mShareholders' equity $7m

Short-term assets cover short-term liabilities $60m of assets due within a year against $11m of liabilities due within a year.
Short-term assets cover long-term liabilities $60m short-term assets against $45m of longer-dated liabilities.
More cash than debt $46m of cash against $33m of debt.
Debt below 40% of shareholders' equity Debt is 505% of equity.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt −$23m of operating cash flow against $33m of debt.
Operating profit covers interest at least five times over Operating income of −$31m against $6m of interest.

From Trisalus Life Sciences, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from Trisalus Life Sciences, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Trisalus Life Sciences, Inc.