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Side-by-side financial comparison of Ares Commercial Real Estate Corp (ACRE) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
Ares Commercial Real Estate Corp is the larger business by last-quarter revenue ($13.2M vs $13.2M, roughly 1.0× TriSalus Life Sciences, Inc.). Ares Commercial Real Estate Corp runs the higher net margin — -29.2% vs -73.9%, a 44.6% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs -24.5%). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs -15.9%).
Ares Commercial Real Estate Corp is a specialty finance company focused on the commercial real estate sector. It offers a full suite of customized financing solutions including senior mortgage loans, subordinated debt and preferred equity, primarily serving middle-market commercial property owners and operators across the United States.
TriSalus Life Sciences, Inc. is a clinical-stage biotechnology company focused on advancing immuno-oncology and interventional oncology solutions. It develops proprietary targeted drug delivery technologies designed to improve treatment efficacy for patients with liver, pancreatic and other hard-to-treat solid tumors, primarily operating in North American markets via partnerships with clinical care and research institutions.
ACRE vs TLSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $13.2M |
| Net Profit | $-3.9M | $-9.8M |
| Gross Margin | — | 86.7% |
| Operating Margin | -29.2% | -24.8% |
| Net Margin | -29.2% | -73.9% |
| Revenue YoY | -24.5% | 59.8% |
| Net Profit YoY | 63.8% | 3.5% |
| EPS (diluted) | — | $-0.22 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $13.2M | $13.2M | ||
| Q3 25 | $14.1M | $11.6M | ||
| Q2 25 | $12.6M | $11.2M | ||
| Q1 25 | $14.9M | $9.2M | ||
| Q4 24 | $17.5M | $8.3M | ||
| Q3 24 | $16.7M | $7.3M | ||
| Q2 24 | $16.8M | $7.4M | ||
| Q1 24 | $18.7M | $6.5M |
| Q4 25 | $-3.9M | $-9.8M | ||
| Q3 25 | $4.7M | $-10.8M | ||
| Q2 25 | $-11.0M | $-8.3M | ||
| Q1 25 | $9.3M | $-10.4M | ||
| Q4 24 | $-10.7M | $-10.1M | ||
| Q3 24 | $-5.9M | $-2.4M | ||
| Q2 24 | $-6.1M | $-4.3M | ||
| Q1 24 | $-12.3M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 83.5% | ||
| Q2 25 | — | 83.9% | ||
| Q1 25 | — | 83.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 86.3% | ||
| Q2 24 | — | 87.6% | ||
| Q1 24 | — | 85.0% |
| Q4 25 | -29.2% | -24.8% | ||
| Q3 25 | 33.0% | -77.9% | ||
| Q2 25 | -87.8% | -65.4% | ||
| Q1 25 | 64.4% | -79.9% | ||
| Q4 24 | -61.0% | -91.8% | ||
| Q3 24 | -35.3% | -118.9% | ||
| Q2 24 | -36.5% | -111.0% | ||
| Q1 24 | -65.9% | -180.8% |
| Q4 25 | -29.2% | -73.9% | ||
| Q3 25 | 33.0% | -93.5% | ||
| Q2 25 | -87.8% | -73.9% | ||
| Q1 25 | 62.5% | -113.2% | ||
| Q4 24 | -60.9% | -122.4% | ||
| Q3 24 | -35.3% | -32.6% | ||
| Q2 24 | -36.5% | -58.8% | ||
| Q1 24 | -65.9% | -204.5% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | — | $-0.96 | ||
| Q2 25 | — | $-0.27 | ||
| Q1 25 | — | $-0.39 | ||
| Q4 24 | — | $-0.38 | ||
| Q3 24 | — | $-0.12 | ||
| Q2 24 | — | $-0.21 | ||
| Q1 24 | — | $-0.60 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $29.3M | $20.4M |
| Total DebtLower is stronger | $948.2M | — |
| Stockholders' EquityBook value | $509.6M | $-33.9M |
| Total Assets | $1.6B | $35.3M |
| Debt / EquityLower = less leverage | 1.86× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $29.3M | $20.4M | ||
| Q3 25 | $84.9M | $22.7M | ||
| Q2 25 | $90.0M | $26.5M | ||
| Q1 25 | $125.5M | $13.0M | ||
| Q4 24 | $63.8M | $8.5M | ||
| Q3 24 | $68.9M | $11.3M | ||
| Q2 24 | $70.6M | $16.5M | ||
| Q1 24 | $99.5M | $4.0M |
| Q4 25 | $948.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $718.5M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $509.6M | $-33.9M | ||
| Q3 25 | $521.0M | $-26.7M | ||
| Q2 25 | $523.7M | $-19.4M | ||
| Q1 25 | $542.1M | $-34.4M | ||
| Q4 24 | $540.1M | $-25.9M | ||
| Q3 24 | $563.8M | $-20.4M | ||
| Q2 24 | $582.3M | $-25.3M | ||
| Q1 24 | $601.1M | $-36.0M |
| Q4 25 | $1.6B | $35.3M | ||
| Q3 25 | $1.4B | $36.5M | ||
| Q2 25 | $1.4B | $41.3M | ||
| Q1 25 | $1.5B | $28.6M | ||
| Q4 24 | $1.8B | $24.0M | ||
| Q3 24 | $1.9B | $27.5M | ||
| Q2 24 | $2.1B | $32.4M | ||
| Q1 24 | $2.1B | $17.9M |
| Q4 25 | 1.86× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 1.33× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $21.4M | $-2.5M |
| Free Cash FlowOCF − Capex | — | $-2.5M |
| FCF MarginFCF / Revenue | — | -19.1% |
| Capex IntensityCapex / Revenue | — | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $21.4M | $-2.5M | ||
| Q3 25 | $3.8M | $-3.7M | ||
| Q2 25 | $4.9M | $-7.3M | ||
| Q1 25 | $8.0M | $-4.5M | ||
| Q4 24 | $35.5M | $-5.7M | ||
| Q3 24 | $8.4M | $-10.8M | ||
| Q2 24 | $8.7M | $-13.4M | ||
| Q1 24 | $11.4M | $-10.9M |
| Q4 25 | — | $-2.5M | ||
| Q3 25 | — | $-3.9M | ||
| Q2 25 | — | $-7.4M | ||
| Q1 25 | — | $-5.3M | ||
| Q4 24 | — | $-5.8M | ||
| Q3 24 | — | $-11.0M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | — | $-10.9M |
| Q4 25 | — | -19.1% | ||
| Q3 25 | — | -33.9% | ||
| Q2 25 | — | -66.1% | ||
| Q1 25 | — | -57.3% | ||
| Q4 24 | — | -69.7% | ||
| Q3 24 | — | -149.9% | ||
| Q2 24 | — | -183.1% | ||
| Q1 24 | — | -169.3% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | — | 1.9% | ||
| Q2 25 | — | 0.8% | ||
| Q1 25 | — | 8.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 1.0% |
| Q4 25 | — | — | ||
| Q3 25 | 0.82× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | 0.86× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
