TLSI (TriSalus Life Sciences) Operating Income: $-28.03 Mil (TTM As of Mar. 2026)


TLSI TriSalus Life Sciences Inc TLSI
29 GF Score
Price $3.84
GF Value $4.31
Valuation Modestly Undervalued
! 4 Warning Signs
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What is TriSalus Life Sciences Operating Income?

TriSalus Life Sciences TLSI +4.35% 29 Operating Income is $-28.03 Mil as of Mar. 2026. GuruFocus rates TLSI with a GF Score™ of 29/100 and a GF Value™ of $4.31 (Modestly Undervalued). The stock has 4 warning signs investors should review.

TriSalus Life Sciences's Operating Income for the three months ended in Mar. 2026 was $-8.41 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $-28.03 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. TriSalus Life Sciences's Operating Income for the three months ended in Mar. 2026 was $-8.41 Mil. TriSalus Life Sciences's Revenue for the three months ended in Mar. 2026 was $8.90 Mil. Therefore, TriSalus Life Sciences's Operating Margin % for the quarter that ended in Mar. 2026 was -94.52%.

TriSalus Life Sciences's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TriSalus Life Sciences's annualized ROC % for the quarter that ended in Mar. 2026 was -710.72%. TriSalus Life Sciences's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 401.82%.

TriSalus Life Sciences  (NAS:TLSI) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

TriSalus Life Sciences's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-33.644 * ( 1 - 0.26% )/( (6.115 + 3.328)/ 2 )
=-33.5565256/4.7215
=-710.72 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=35.331 - 8.777 - ( 20.439 - max(0, 11.499 - 32.244+20.439))
=6.115

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=70.979 - 11.299 - ( 56.553 - max(0, 11.786 - 68.138+56.553))
=3.328

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

TriSalus Life Sciences's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=11.916/( ( (2.669 + max(0.473, 0)) + (2.772 + max(0.017000000000014, 0)) )/ 2 )
=11.916/( ( 3.142 + 2.789 )/ 2 )
=11.916/2.9655
=401.82 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6.558 + 3.077 + 2.17) - (8.777 + 0 + 2.555)
=0.473

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5.215 + 3.778 + 2.592) - (11.299 + 0 + 0.269)
=0.017000000000014

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. Operating Income is also linked to Operating Margin %:

TriSalus Life Sciences's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=-8.411/8.899
=-94.52 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

TriSalus Life Sciences Operating Income Related Terms

TriSalus Life Sciences Operating Income Historical Data

* Premium members only.

The historical data trend for TriSalus Life Sciences's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

TriSalus Life Sciences Operating Income Chart

TriSalus Life Sciences Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
-24.03 -36.44 -54.48 -36.17 -26.95

TriSalus Life Sciences Quarterly Data
Dec21 Mar22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -7.33 -7.33 -9.01 -3.27 -8.41
TLSI
29GF Score
TriSalus Life Sciences Inc TLSI
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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TriSalus Life Sciences Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-28.03 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $-28.03 Mil mean?
TriSalus Life Sciences (TLSI) has a Operating Income of $-28.03 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TriSalus Life Sciences and its competitors.
Is TriSalus Life Sciences' Operating Income too high?
TriSalus Life Sciences' current Operating Income is $-28.03 Mil. Overall, TriSalus Life Sciences has a GF Score™ of 29/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TriSalus Life Sciences' Operating Income compare to TMCI and LAB?
TriSalus Life Sciences' Operating Income of $-28.03 Mil can be compared against companies in the Medical Devices & Instruments industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Medical Devices & Instruments company?
A good Operating Income depends on the Medical Devices & Instruments industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TriSalus Life Sciences and its competitors. TriSalus Life Sciences's current Operating Income is $-28.03 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TriSalus Life Sciences stock overvalued right now?
Based on GuruFocus' analysis, TriSalus Life Sciences (TLSI) is currently considered Modestly Undervalued. The stock's GF Value™ is $4.31, compared to a current price of $3.84 — trading 10.9% below its estimated fair value. The current Operating Income is $-28.03 Mil. TriSalus Life Sciences' overall GF Score™ is 29/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For TriSalus Life Sciences (TLSI), the current Operating Income is $-28.03 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is TriSalus Life Sciences (TLSI) Overvalued in 2026?

Based on GuruFocus' analysis, TriSalus Life Sciences stock appears to be undervalued. The current stock price of $3.84 is trading 10.9% below its estimated GF Value™ of $4.31. GuruFocus considers TriSalus Life Sciences to be Modestly Undervalued.

Key valuation signals for TLSI:

  • Operating Income: $-28.03 Mil
  • GF Value™: $4.31 vs. price of $3.84 (10.9% below fair value)
  • GF Score™: 29/100 with 4 warning signs

No single metric tells the full story. See the TLSI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

TriSalus Life Sciences Business Description

Address 6272 W. 91st Avenue, Westminster, CO, USA, 80031
TriSalus Life Sciences Inc is an oncology-focused medical technology business integrating its delivery technology with standard-of-care therapies and its investigational immunotherapeutic, nelitolimod, a class C Toll-like receptor 9 (TRL9) agonist, for patients with solid tumors. The company developed Pressure-Enabled Drug Delivery (PEDD) to overcome high intratumoral pressure and off-target delivery. Its 510(k) cleared device, the TriNav Infusion System using PEDD technology, is used for interventional radiology procedures including transarterial radioembolization (TARE) and transarterial chemoembolization (TACE) in patients with primary liver cancer or liver metastases. It has one reportable segment and generates revenue from sales of PEDD infusion systems, principally related to TriNav.
29GF Score

Get the complete analysis for TLSI

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$3.84
Price
$4.31
GF Value