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TriSalus Life Sciences Announces Preliminary Q4 and Full Year Unaudited 2024 Financial Results and Conference Call

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TriSalus Life Sciences (NASDAQ: TLSI) reported strong preliminary Q4 2024 results, with revenue reaching $8.3 million, up 44% year-over-year. Full-year 2024 revenue grew 59% to $29.4 million, driven by the TriNav® Infusion System.

Operating Cash Flow improved to ($5.6) million in Q4 2024 from ($10.8) million in Q3. The company ended 2024 with $8.5 million in cash and expects to secure an additional $10 million from OrbiMed in Q1 2025. Management projects over 50% revenue growth in 2025, anticipating positive full-year EBITDA and positive cash flow in H2 2025.

TriSalus Life Sciences (NASDAQ: TLSI) ha riportato risultati preliminari solidi per il Q4 2024, con un fatturato che ha raggiunto $8,3 milioni, in aumento del 44% rispetto allo scorso anno. Il fatturato totale per il 2024 è cresciuto del 59% raggiungendo $29,4 milioni, sostenuto dal sistema di infusione TriNav®.

Il flusso di cassa operativo è migliorato a ($5,6) milioni nel Q4 2024 rispetto a ($10,8) milioni nel Q3. L'azienda ha chiuso il 2024 con $8,5 milioni in liquidità e prevede di assicurarsi ulteriori $10 milioni da OrbiMed nel Q1 2025. La direzione prevede una crescita dei ricavi superiore al 50% nel 2025, anticipando un EBITDA positivo per l'intero anno e un flusso di cassa positivo nel secondo semestre del 2025.

TriSalus Life Sciences (NASDAQ: TLSI) informó resultados preliminares sólidos para el cuarto trimestre de 2024, con ingresos que alcanzaron $8.3 millones, un aumento del 44% en comparación con el año anterior. Los ingresos totales del año 2024 crecieron un 59% alcanzando $29.4 millones, impulsados por el sistema de infusión TriNav®.

El flujo de caja operativo mejoró a ($5.6) millones en el Q4 2024, comparado con ($10.8) millones en el Q3. La compañía terminó 2024 con $8.5 millones en efectivo y espera asegurar $10 millones adicionales de OrbiMed en el Q1 2025. La dirección proyecta un crecimiento de ingresos de más del 50% en 2025, anticipando un EBITDA positivo para todo el año y un flujo de caja positivo en la segunda mitad de 2025.

TriSalus Life Sciences (NASDAQ: TLSI)는 2024년 4분기 예비 실적이 강력하다고 보고하며, 수익이 $8.3백만에 도달해 전년 대비 44% 증가했다고 발표했습니다. 2024년 전체 연간 수익은 TriNav® 주입 시스템에 힘입어 59% 증가하여 $29.4백만에 달했습니다.

운영 현금 흐름은 4분기에 ($5.6)백만으로 개선되었으며, 이는 3분기 ($10.8)백만에서 증가한 수치입니다. 회사는 2024년을 $8.5백만의 현금 자산으로 마감하였고 2025년 1분기에 OrbiMed로부터 추가로 $10백만을 확보할 것으로 예상하고 있습니다. 경영진은 2025년 수익이 50% 이상 성장할 것으로 전망하며, 2025년 하반기에는 긍정적인 연간 EBITDA와 긍정적인 현금 흐름을 예상하고 있습니다.

TriSalus Life Sciences (NASDAQ: TLSI) a annoncé de solides résultats préliminaires pour le 4e trimestre 2024, avec des revenus atteignant 8,3 millions de dollars, soit une augmentation de 44 % par rapport à l'année précédente. Le chiffre d'affaires total pour l'année 2024 a augmenté de 59 %, atteignant 29,4 millions de dollars, soutenu par le système d'infusion TriNav®.

Le flux de trésorerie d'exploitation s'est amélioré, s'élevant à (5,6 millions de dollars) au 4e trimestre 2024, contre (10,8 millions de dollars) au 3e trimestre. L'entreprise a terminé l'année 2024 avec 8,5 millions de dollars en liquidités et prévoit de sécuriser 10 millions de dollars supplémentaires auprès d'OrbiMed au 1er trimestre 2025. La direction prévoit une croissance des revenus de plus de 50 % en 2025, anticipant un EBITDA positif pour l'ensemble de l'année et un flux de trésorerie positif au second semestre 2025.

TriSalus Life Sciences (NASDAQ: TLSI) meldete starke vorläufige Ergebnisse für das 4. Quartal 2024, mit einem Umsatz von $8,3 Millionen, was einem Anstieg von 44% gegenüber dem Vorjahr entspricht. Der Gesamtumsatz für 2024 wuchs um 59% auf $29,4 Millionen, angetrieben durch das TriNav® Infusionssystem.

Der operative Cashflow verbesserte sich im 4. Quartal 2024 auf ($5,6) Millionen von ($10,8) Millionen im 3. Quartal. Das Unternehmen schloss 2024 mit $8,5 Millionen in bar ab und erwartet, im 1. Quartal 2025 zusätzliche 10 Millionen Dollar von OrbiMed zu sichern. Das Management projiziert ein Umsatzwachstum von über 50% im Jahr 2025 und erwartet im 2. Halbjahr 2025 ein positives EBITDA und positiven Cashflow.

Positive
  • Q4 2024 revenue grew 44% YoY to $8.3 million
  • Full-year 2024 revenue increased 59% YoY to $29.4 million
  • Operating cash flow improved significantly from -$10.8M in Q3 to -$5.6M in Q4
  • Additional $10M funding expected from OrbiMed in Q1 2025
  • Projected 50%+ revenue growth for 2025
  • Expected positive EBITDA and cash flow in 2025
Negative
  • Negative operating cash flow of -$5.6M in Q4 2024
  • Low cash position of $8.5M as of December 31, 2024
  • Dependent on additional debt funding for 2025 operations

Insights

The preliminary Q4 and FY2024 results reveal a compelling growth trajectory for TriSalus Life Sciences, marked by several key developments:

The revenue performance is particularly noteworthy, with Q4 revenue of $8.3 million (44% YoY growth) and full-year revenue of $29.4 million (59% YoY growth) being driven entirely by the TriNav® Infusion System. This single-product revenue stream demonstrates strong market adoption and penetration in the interventional oncology space.

The operational efficiency improvements are evident in the reduced cash burn, with Q4 operating cash flow of ($5.6 million) showing substantial improvement from Q3's ($10.8 million). This 48% reduction in cash burn indicates successful cost management initiatives and improving operational leverage.

The company's financial outlook warrants careful consideration. While the current cash position of $8.5 million might seem tight, the anticipated $10 million debt tranche from OrbiMed provides a important liquidity buffer. The projection of positive EBITDA and cash flow in 2025 appears reasonable given the current growth trajectory and improving operational metrics, though it will require maintaining the current momentum in both revenue growth and cost control.

The debt financing strategy with OrbiMed suggests strong institutional confidence in TriSalus's business model and growth prospects. However, investors should monitor the terms and conditions of this financing arrangement, as it will impact the company's financial flexibility and capital structure going forward.

  • Q4 Revenue of approximately $8.3 million represents approximately 44% growth versus Q4 2023
  • Full year 2024 Revenue of approximately $29.4 million represent approximately 59% growth versus full year 2023
  • Q4 Operating Cash Flow of approximately ($5.6) million is a notable improvement compared to ($10.8) million in Q3
  • Company expects to achieve positive full year EBITDA in 2025 and positive Cash Flow during the second half of 2025

Call Scheduled for Thursday, March 27, 2025, at 8:00 a.m. ET

DENVER--(BUSINESS WIRE)-- TriSalus Life Sciences® Inc. (Nasdaq: TLSI), is announcing preliminary unaudited fourth quarter and full year 2024 financial results and details of the upcoming conference call.

Preliminary Unaudited Fourth Quarter and Full Year 2024 Financial Results

Full financial results for the year ended December 31, 2024 are in the process of being finalized, however initial and preliminary results show revenue, driven solely by the TriNav® Infusion System, of approximately $8.3 million for the fourth quarter of 2024. This represents growth of approximately 44% versus the fourth quarter of 2023.

For the full year 2024, revenue was approximately $29.4 million. This represents growth of approximately 59% versus the full year 2023. This strong momentum is expected to continue in 2025 and, consistent with previously announced guidance, revenue is expected to grow in excess of 50% in 2025.

Operating Cash Flow in the fourth quarter of 2024 was approximately ($5.6) million, reflecting a notable improvement compared to the previous quarter amount of ($10.8) million. Consistent with previously announced guidance, the Company expects to achieve positive full year EBITDA in 2025 and positive cash flow during the second half of 2025.

Cash and Cash Equivalents were approximately $8.5 million as of December 31st, 2024. We expect to qualify for an additional $10 million tranche of our existing debt agreement with OrbiMed in the first quarter of 2025 and expect, with the additional $10 million, to have sufficient liquidity to fund operations through 2025.

Conference Call Details

The company will host a conference call and webcast on March 27, 2025, at 8:00 a.m. ET to discuss financial results for the fourth quarter and full year ended December 31, 2024, and provide a business update. A press release detailing the fourth quarter and full year results will be issued prior to the call.

About Preliminary Financial Results

The preliminary results set forth above are unaudited, are based on management’s initial review of the Company’s results for the quarter ended December 31, 2024, and are subject to revision based upon the Company’s year-end closing procedures and the completion and external audit of the Company’s year-end financial statements. Actual results may differ materially from these preliminary unaudited results following the completion of year-end closing procedures, final adjustments or other developments arising between now and the time that the Company’s financial results are finalized. In addition, these preliminary unaudited results are not a comprehensive statement of the Company’s financial results for the quarter and year ended December 31, 2024, should not be viewed as a substitute for full, audited financial statements prepared in accordance with generally accepted accounting principles, and are not necessarily indicative of the Company’s results for any future period.

About TriSalus Life Sciences

TriSalus Life Sciences® is an oncology focused medical technology business providing disruptive drug delivery technology with the goal of improving therapeutic delivery to solid tumors. The Company’s platform includes devices that utilize a proprietary drug delivery technology and a clinical stage investigational immunotherapy. The Company’s two FDA-cleared devices use its proprietary Pressure-Enabled Drug Delivery™ (PEDD™) approach to deliver a range of therapeutics: the TriNav® Infusion System for hepatic arterial infusion of liver tumors as well as other solid tumors and the Pancreatic Retrograde Venous Infusion System for pancreatic tumors. PEDD is a novel delivery approach designed to address the anatomic limitations of infusion into solid tumors. The PEDD approach modulates pressure and flow in a manner that delivers more therapeutic to the tumor and is designed to limit delivery to normal tissue, creating the potential to improve patient outcomes. Nelitolimod, the Company’s investigational immunotherapeutic candidate, is designed to improve patient outcomes by treating the immunosuppressive environment created by many tumors and which can make current immunotherapies ineffective in the liver and pancreas. Patient data generated during Pressure-Enabled Regional Immuno-Oncology™ (PERIO) clinical trials support the hypothesis that nelitolimod delivered via PEDD may have favorable immune effects within the liver and systemically. The target for nelitolimod, TLR9, is expressed across cancer types and the mechanical barriers addressed by PEDD are commonly present as well. Nelitolimod delivered by PEDD will be studied across several indications in an effort to address immune dysfunction and overcome drug delivery barriers in the liver and pancreas.

In partnership with leading cancer centers across the country – and by leveraging deep immuno-oncology expertise and inventive technology development – TriSalus is committed to advancing innovation that improves outcomes for patients. Learn more at trisaluslifesci.com and follow us on X (formerly Twitter) and LinkedIn.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this report, including statements regarding the Company’s financial results for the three months ended December 31, 2024 and the full year ended December 31, 2024, the Company’s belief as to the factors causing the financial results, the Company’s expectation that it will have sufficient liquidity to fund operations through 2025, the Company’s expectations for sales growth, positive full year EBITDA and positive cash flow during 2025, the Company’s ability to access the additional $10 million tranche under its OrbiMed debt facility, are all forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “expect,” “may,” “potential,” “should,” “will,” “would” and other similar expressions that are predictions of or indicate future events and future trends, or the negative of these terms or other comparable terminology.

The Company has based these forward-looking statements largely on its current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. These forward-looking statements are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, the risk that our reported financial results will differ from the estimates provided in this press release, the risk that the Company will not be able to achieve its expected sales growth, EBITDA and cash flow during 2025, the risk that the Company will not be able to obtain additional liquidity, the risk that the Company will not continue as a going concern, and other risk factors described in the Company’s filings with the Securities and Exchange Commission, including the section titled “Risk Factors”. See the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2024, filed with the SEC on November 14, 2024 and other filings made with the SEC for a discussion of important factors that may cause the Company’s actual results to differ materially from those expressed or implied by the Company’s forward looking statements. Moreover, the Company operates in a very competitive and rapidly changing environment. New risk factors emerge from time to time, and it is not possible for the Company’s management to predict all risk factors nor can the Company assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in, or implied by, any forward-looking statements.

In light of the significant uncertainties in these forward-looking statements, you should not rely upon forward-looking statements as predictions of future events. Furthermore, if the Company’s forward-looking statements prove to be inaccurate, the inaccuracy may be material. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

For Media Inquiries:

Jeremy Feffer, Managing Director

LifeSci Advisors

917.749.1494

jfeffer@lifesciadvisors.com

For Investor Inquiries:

James Young

Chief Financial Officer

847.337.0655

james.young@trisaluslifesci.com

Source: TriSalus Life Sciences

FAQ

What was TriSalus Life Sciences (TLSI) revenue growth in Q4 2024?

TriSalus Life Sciences reported Q4 2024 revenue of $8.3 million, representing approximately 44% growth compared to Q4 2023.

When does TLSI expect to achieve positive EBITDA and cash flow?

TLSI expects to achieve positive full-year EBITDA in 2025 and positive cash flow during the second half of 2025.

What is TLSI's projected revenue growth for 2025?

TLSI expects revenue growth to exceed 50% in 2025, consistent with previously announced guidance.

How much additional funding does TLSI expect from OrbiMed in Q1 2025?

TLSI expects to qualify for an additional $10 million tranche from their existing debt agreement with OrbiMed in Q1 2025.

What was TLSI's cash position at the end of 2024?

TLSI reported approximately $8.5 million in cash and cash equivalents as of December 31st, 2024.

TriSalus Life Sciences Inc.

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