Trisalus Life Sciences (TLSI) investor relations material

Executive summary

• Achieved Q2 2026 revenue of $11.4 million, up 1.7% year-over-year, driven by TriNav demand, commercial expansion, and new product launches.

• Expanded commercial footprint, doubling the sales force in H1 2026, with new hires exceeding internal metrics.

• Advanced clinical evidence for PEDD technology with 11 active studies across 27 sites and over 400 patients treated; new data submitted for publication.

• Received CMS G-code extending TriNav reimbursement to office-based labs (OBLs), expanding patient access and market reach.

• Raised $42.6 million in a public offering in early 2026, strengthening liquidity.

Financial highlights

• Q2 2026 revenue: $11.4 million, up 1.7% year-over-year.

• Gross margin improved to 88% from 83.9% year-over-year, driven by lower unit costs and manufacturing improvements.

• Operating loss increased to $9.8 million from $7.3 million year-over-year, mainly due to higher sales and marketing expenses.

• Adjusted EBITDA loss was $7.1 million, compared to $5.3 million in Q2 2025.

• Cash and equivalents at June 30, 2026: $46.3 million.

Outlook and guidance

• Full-year 2026 revenue guidance reiterated at $54–$57 million, representing 19%–26% growth over 2025.

• Sequential revenue growth expected from Q2 to Q3, with a stronger Q4 anticipated.

• Sales and marketing expenses expected to decline in H2 2026 as sales force expansion costs subside.

• Company expects continued operating losses as it invests in R&D and commercial expansion.

• Plans to seek additional capital through equity or debt if needed; future funding needs depend on TriNav adoption, reimbursement, and nelitolimod development.