TriSalus Life Sciences Earnings Call Transcripts
Fiscal Year 2025
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Revenue grew 60% in Q4 and 53% for the year, driven by commercial execution and product expansion. A $46M public offering strengthened the balance sheet, enabling investments in sales force and clinical studies. 2026 revenue guidance is $60–$62M, with growth weighted to H2.
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Pressure-enabled thyroid artery embolization offers a minimally invasive, effective alternative to surgery for large goiters and hyperthyroidism, with high efficacy, low complication rates, and preservation of thyroid function. Early US data and ongoing registry efforts support broader adoption.
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A high-growth oncology company showcased its pressure-enabled drug delivery technology, expanding its device portfolio and applications across multiple indications. Favorable reimbursement, strong clinical outcomes, and a robust IP position support 50% annual growth and near-term profitability.
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Pressure-enabled drug delivery technology is driving rapid growth and clinical adoption, with strong reimbursement support and expansion into multiple new indications. Financial performance remains robust, with high margins and a focus on operating leverage as new products and applications accelerate top-line growth.
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Q3 2025 revenue grew 57% year-over-year to $11.6M, driven by strong TriNav adoption and new product launches. Gross margin was 84%, with improved adjusted EBITDA loss and cash burn. Guidance for 50% revenue growth is reaffirmed, with expanding indications and robust commercial momentum.
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Key opinion leaders highlighted the clinical and economic advantages of pressure-enabled drug delivery in uterine artery embolization, demonstrating superior fibroid reduction, procedural efficiency, and safety. Education and data-driven outreach are essential to increase adoption and patient access.
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Management highlighted strong sequential growth, new product launches, and a unique reimbursement code driving adoption. Expansion into new indications and registry studies aim to support guideline inclusion, while operational efficiency and clinical milestones are set for 2026.
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Q2 2025 saw 52% revenue growth year-over-year, driven by strong TriNav adoption, new product launches, and expanded reimbursement. Gross margin dipped to 84% due to new product ramp, but operating losses improved. Guidance for 50% revenue growth and cash flow positivity in early 2026 was reiterated.
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Q1 2025 saw 42% revenue growth year-over-year, driven by TriNav adoption and expanded reimbursement. Gross margin was 84%, and operating losses narrowed. Guidance for 50% revenue growth in 2025 is reaffirmed, with investments in sales force and new clinical applications supported by a $22M capital raise.
Fiscal Year 2024
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Reported 59% full-year revenue growth and reduced operating losses, driven by TriNav adoption and expanded clinical applications. 2025 guidance targets 50%+ revenue growth, positive EBITDA, and cash flow, with new Medicare reimbursement codes providing potential upside.
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Q3 2024 revenue rose 42% year-over-year to $7.3M, with gross margin at 86% and strong account growth. 2025 guidance targets over 50% sales growth, EBITDA positivity, and expanded product launches, supported by reduced expenses and new clinical programs.
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Innovative pressure-enabled drug delivery technology is driving rapid sales growth and expanding clinical applications in liver, pancreas, and multinodular goiter. Key data releases and product launches are expected in the next six months, with EBITDA positive targeted for mid to late 2025.
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Q2 2024 saw 60% revenue growth, record TriNav sales, and improved gross margins. Clinical pipeline advanced with new trials and positive early data, while strategic resource allocation shaped future trial priorities. Liquidity is strong, with positive EBITDA (excluding nelitolimod) expected late 2024.