TriSalus Q3 revenue $11.6M (+57% YoY); net loss $41.3M on preferred conversion; reaffirms 50% FY growth

TriSalus Life Sciences, Inc.

2025-Q3 EPS reported -$1.72 revenue$31,946,000

Revenue $11.6M, up 57% YoY and 3% sequentially; all from TriNav liver embolization.
Gross margin 84% vs 86% prior year; operating loss $9.0M vs $8.7M.
Net loss attributable to common $41.3M ($0.96 EPS) due to $30.5M preferred conversion charge.
Adjusted EBITDA loss improved to $5.4M from $7.2M; cash $22.7M with runway to positive adj. EBITDA.
Reaffirmed FY2025 revenue growth of at least 50%; initiated GAE trial for knee OA; published thyroid embolization data.

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