TriSalus Life Sciences, Inc. (Nasdaq: TLSI) announced its financial results for the third quarter ended September 30, 2026, in a Form 8-K filed on November 10, 2026. The company reported revenue of $12.9 million for the quarter, representing an 11.3% increase compared to the same period in 2025. This growth was driven by an increase in the number of TriNav systems sold. Gross margins for the quarter were reported at 86.2%, an improvement from 83.5% in the prior year, primarily due to a reduction in the cost per TriNav unit.
Operating losses for the third quarter of 2026 were $7.7 million, a decrease from losses of $9.0 million in the prior year. The company attributed this improvement to higher gross margins, as well as lower research and development and general and administrative expenses. However, these savings were partially offset by increased sales and marketing expenses related to the expansion of the commercial organization. Net loss attributable to common stockholders was $8.9 million, or $0.15 per share, compared to a net loss of $41.3 million, or $0.96 per share, in the prior year. The company noted that the significant year-over-year reduction in net loss was driven by the conversion of preferred stock to common stock during the third quarter of 2025.
As of September 30, 2026, the company held $41.1 million in cash and cash equivalents. The company also updated its full-year 2026 revenue guidance to $46 million to $48 million, representing growth of approximately 2% to 6% compared to full-year 2025.
In addition to its financial results, the company highlighted several operational updates. TriSalus received FDA clearance for the TriNav Advance system, which enables Pressure-Enabled Drug Delivery to small distal vessels. The company also noted that the Centers for Medicare & Medicaid Services finalized policies expanding favorable reimbursement for procedures using PEDD for 2027. Specifically, the national Medicare payment rate for procedures billed under HCPCS code C8004 will increase from approximately $11,794 to approximately $20,910 effective January 1, 2027. Additionally, CMS established a national payment for HCPCS code G0577, for vascular embolization using a pressure-generating catheter in the office-based lab setting, with a total national office payment of approximately $13,800 per procedure effective January 1, 2027.
