TriSalus Life Sciences Inc

NASDAQ:TLSIUnited States

08:01 AM EDT, 05/15/2024 (MT Newswires) -- ...

Financials
TriSalus Life Sciences Condensed Consolidated Statement of Operations (unaudited, in thousands) Three Months Ended March 31, ---------------------------- 2024 2023 ---------- ---------- Revenue $ 6,457 $ 2,984 Cost of goods sold 971 662 ---------- ---------- Gross Profit 5,486 2,322 Operating expenses: Research and development 5,857 5,642 Sales and marketing 6,687 3,249 General and administrative 4,627 3,552 ---------- ---------- Loss from operations (11,685) (10,121) Other income (expense): Interest income 92 35 Interest expense (3) (5) Loss on equity issuance (1,465) Extinguishment of tranche liability 881 Change in fair value of SEPA and warrant liabilities 2,521 2,421 Change in fair value of contingent earnout liability (3,988) Other expense, net (153) (19) ---------- ---------- Loss before income taxes (13,216) (8,273) Income tax (expense) benefit (3) 5 ---------- ---------- Net loss available to common stockholders $ (13,219) $ (8,268) Deemed dividend related to Series B-2 preferred stock down round provision (959) Undeclared dividends on Series A preferred stock (801) ---------- ---------- Net loss attributable to common stockholders $ (14,020) $ (9,227) ========== ========== Net loss per common share, basic and diluted $ (0.60) $ (0.57) Weighted average common shares outstanding, basic and diluted 23,323,045 16,166,581 TriSalus Life Sciences Condensed Consolidated Balance Sheets (unaudited, in thousands) March 31, December 31, 2024 2023 ---------- ----------- Assets (unaudited) Assets Cash and cash equivalents 3,970 11,777 Accounts receivable 4,277 3,554 Inventory, net 2,913 2,545 Prepaid expenses 2,031 2,986 ---------- ----------- Total current assets 13,191 20,862 Property and equipment, net 1,965 2,091 Right-of-use assets 1,196 1,179 Intangible assets, net 1,113 1,127 Other assets 424 466 ---------- ----------- Total assets 17,889 25,725 ========== =========== Liabilities and Stockholders' Equity (Deficit) Current liabilities: Trade payables 2,348 3,391 Accrued liabilities 11,423 10,556 Short-term lease liabilities 363 351 Other current liabilities 260 389 ---------- ----------- Total current liabilities 14,394 14,687 Long-term lease liabilities 1,218 1,244 Contingent earnout liability 22,620 18,632 Warrant and SEPA liabilities 14,580 17,100 ---------- ----------- Total liabilities 52,812 51,663 Stockholders' equity (deficit): Preferred Stock, Series A $0.0001 par value per share, $10.00 liquidation value per share. Authorized 10,000,000 and 10,000,000 shares at March 31, 2024, and December 31, 2023, respectively; issued and outstanding, 4,015,002 and 4,015,002 shares at March 31, 2024 and December 31, 2023, respectively Common stock, $0.0001 par value per share. Authorized 400,000,000 and 400,000,000 shares at March 31, 2024 and December 31, 2023, respectively; issued and outstanding 26,758,272 and 26,413,213 shares at March 31, 2024 and December 31, 2023, respectively 2 2 Additional paid-in capital 226,671 222,437 Accumulated deficit (261,596) (248,377) ---------- ----------- Total stockholders' deficit (34,923) (25,938) ---------- ----------- Total liabilities and stockholders' deficit 17,889 25,725 ========== ===========