Financial Performance - Generated $11.2 million in net sales, a 52% increase year-over-year, and a 22% sequential growth over Q1 2025[5] - Gross margins were 84% in Q2 2025, down from 88% in the same period of 2024, primarily due to lower manufacturing efficiency associated with newly launched products[5] - Operating losses were $7.3 million, an improvement from $8.2 million in the same period in 2024[10] - Net loss attributable to common stockholders was $9.0 million, compared to $5.1 million for the same period in 2024[10] - The basic and diluted loss per share was $0.27, compared to $0.21 for the same period in 2024[10] - Net loss available to common stockholders for Q2 2025 was $8,288 million, compared to a loss of $4,332 million in Q2 2024, indicating a deterioration of 91.5%[18] - Adjusted EBITDA for Q2 2025 was $(5,275) million, an improvement from $(6,705) million in Q2 2024, showing a reduction in losses of 21.3%[18] Expenses - Research and Development (R&D) expenses were approximately $3.9 million, down from $4.7 million in the same quarter of the prior year[5] - Sales and Marketing (S&M) expenses increased to approximately $7.2 million in Q2 2025, compared to $6.0 million in the same quarter of 2024[5] - Interest expense for Q2 2025 was $1,423 million, compared to $877 million in Q2 2024, reflecting an increase of 62.2%[18] Guidance and Market Response - The company reaffirmed full-year revenue growth guidance of at least 50% due to continued commercial momentum[2] - The successful launch of TriNav® FLX is expected to enhance navigability through tortuous vessels, with early market response surpassing internal projections[5] Assets and Liabilities - As of June 30, 2025, cash and cash equivalents totaled $26.5 million, providing sufficient runway to reach positive adjusted EBITDA in the first half of 2026[10] - Total assets increased to $41,317 million as of June 30, 2025, up from $23,971 million at December 31, 2024, representing a growth of 72.2%[15] - Current assets rose to $38,084 million, a significant increase from $20,669 million, reflecting a growth of 84.3%[15] - Long-term debt increased to $32,274 million as of June 30, 2025, up from $22,084 million at December 31, 2024, marking a rise of 46.2%[15] - Total liabilities reached $60,740 million, up from $49,865 million, representing an increase of 21.8%[15] - Cash and cash equivalents significantly increased to $26,490 million from $8,525 million, a growth of 210.5%[15] - Stockholders' deficit improved to $(19,423) million as of June 30, 2025, compared to $(25,894) million at December 31, 2024, indicating a reduction of 24.9%[15] Non-GAAP Financial Measures - The company emphasizes the importance of non-GAAP financial measures to provide additional insights into its operational performance[16]
TriSalus Life Sciences(TLSI) - 2025 Q2 - Quarterly Results