TriSalus posts strong revenue gain in Q3

WESTMINSTER — Strong sales of its flagship medical device drove solid revenue gains for TriSalus Life Sciences Inc. (Nasdaq: TLSI) in the third quarter ended Sept. 30.

The Westminster-based oncology company, which seeks to improve delivery of therapeutics directly into solid tumors, reported revenue of  almost $12.9 million, up 11.3% from $11.57 million for the same period a year ago. The company attributed that gain primarily to sales growth for its TriNav Infusion System, an advanced microcatheter.

“The third quarter marked an important period of growth and expansion for TriSalus — we drove double-digit year-over-year growth and received FDA clearance for TriNav Advance, which enables Pressure-Enabled Drug Delivery to small distal vessels through the microcatheter of the physician’s choice. This clearance allows us to address the full range of vessels encountered in liver embolization procedures going forward,” Mary Szela, TriSalus’ president and CEO, said in a written statement.

TriSalus recorded a GAAP net loss from operations of $8.1 million in Q3, down from $10.8 million a year ago. The net loss attributable to common stockholders totaled $8.9 million in 2026, compared with $41.3 million for the third quarter of 2025. The earlier loss was largely due to a non-cash charge related to conversion of preferred stock to common stock.

TriSalus recorded $41.1 million in cash or cash equivalents as of Sept. 30. The company raised $46 million in the first quarter after an equity offering.

The company updated  its full-year 2026 revenue guidance to $46 million to $48 million, representing growth of approximately 2% to 6% compared with 2025.

“Looking ahead, we believe we are well positioned for 2027. We more than doubled our commercial footprint over the first half of the year, and although our team productivity has ramped slightly slower than anticipated, our representatives continue to educate and drive further TriNav utilization as they build and strengthen relationships with interventional radiologists,” Szela said. “Combined with the launch of TriNav Advance, expanded access to office-based labs through the new G-code, and continued cost discipline, we believe we have laid the foundation for continued growth in 2027 and beyond.”

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