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Side-by-side financial comparison of Angel Oak Mortgage REIT, Inc. (AOMR) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.

TriSalus Life Sciences, Inc. is the larger business by last-quarter revenue ($13.2M vs $10.9M, roughly 1.2× Angel Oak Mortgage REIT, Inc.). Angel Oak Mortgage REIT, Inc. runs the higher net margin — 103.9% vs -73.9%, a 177.7% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs 10.4%). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs 12.7%).

Angel Oak Mortgage REIT, Inc. is a U.S.-based real estate investment trust focused on investing in residential mortgage assets, including non-agency mortgage-backed securities, residential mortgage loans, and credit-linked real estate instruments. It serves U.S. institutional and retail investors, targeting competitive risk-adjusted returns through regular income and long-term capital growth.

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.

AOMR vs TLSI — Head-to-Head

Bigger by revenue
TLSI
TLSI
1.2× larger
TLSI
$13.2M
$10.9M
AOMR
Growing faster (revenue YoY)
TLSI
TLSI
+49.4% gap
TLSI
59.8%
10.4%
AOMR
Higher net margin
AOMR
AOMR
177.7% more per $
AOMR
103.9%
-73.9%
TLSI
Faster 2-yr revenue CAGR
TLSI
TLSI
Annualised
TLSI
43.0%
12.7%
AOMR

Income Statement — Q4 FY2025 vs Q4 FY2025

Metric
AOMR
AOMR
TLSI
TLSI
Revenue
$10.9M
$13.2M
Net Profit
$11.3M
$-9.8M
Gross Margin
86.7%
Operating Margin
-24.8%
Net Margin
103.9%
-73.9%
Revenue YoY
10.4%
59.8%
Net Profit YoY
175.2%
3.5%
EPS (diluted)
$0.44
$-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.

Revenue
AOMR
AOMR
TLSI
TLSI
Q4 25
$10.9M
$13.2M
Q3 25
$10.2M
$11.6M
Q2 25
$9.9M
$11.2M
Q1 25
$10.1M
$9.2M
Q4 24
$9.9M
$8.3M
Q3 24
$9.0M
$7.3M
Q2 24
$9.5M
$7.4M
Q1 24
$8.6M
$6.5M
Net Profit
AOMR
AOMR
TLSI
TLSI
Q4 25
$11.3M
$-9.8M
Q3 25
$11.4M
$-10.8M
Q2 25
$767.0K
$-8.3M
Q1 25
$20.5M
$-10.4M
Q4 24
$-15.1M
$-10.1M
Q3 24
$31.2M
$-2.4M
Q2 24
$-273.0K
$-4.3M
Q1 24
$12.9M
$-13.2M
Gross Margin
AOMR
AOMR
TLSI
TLSI
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%
Operating Margin
AOMR
AOMR
TLSI
TLSI
Q4 25
-24.8%
Q3 25
-77.9%
Q2 25
7.7%
-65.4%
Q1 25
-79.9%
Q4 24
-152.6%
-91.8%
Q3 24
-118.9%
Q2 24
-1.4%
-111.0%
Q1 24
-180.8%
Net Margin
AOMR
AOMR
TLSI
TLSI
Q4 25
103.9%
-73.9%
Q3 25
112.1%
-93.5%
Q2 25
7.7%
-73.9%
Q1 25
203.5%
-113.2%
Q4 24
-152.6%
-122.4%
Q3 24
345.9%
-32.6%
Q2 24
-2.9%
-58.8%
Q1 24
150.1%
-204.5%
EPS (diluted)
AOMR
AOMR
TLSI
TLSI
Q4 25
$0.44
$-0.22
Q3 25
$0.46
$-0.96
Q2 25
$0.03
$-0.27
Q1 25
$0.87
$-0.39
Q4 24
$-0.62
$-0.38
Q3 24
$1.29
$-0.12
Q2 24
$-0.01
$-0.21
Q1 24
$0.51
$-0.60

Balance Sheet & Financial Strength

Snapshot of each company's liquidity, leverage and book value from the latest quarter.

Metric
AOMR
AOMR
TLSI
TLSI
Cash + ST InvestmentsLiquidity on hand
$41.6M
$20.4M
Total DebtLower is stronger
$2.3B
Stockholders' EquityBook value
$267.5M
$-33.9M
Total Assets
$2.7B
$35.3M
Debt / EquityLower = less leverage
8.51×

8-quarter trend — quarters aligned by calendar period.

Cash + ST Investments
AOMR
AOMR
TLSI
TLSI
Q4 25
$41.6M
$20.4M
Q3 25
$51.6M
$22.7M
Q2 25
$40.5M
$26.5M
Q1 25
$38.7M
$13.0M
Q4 24
$40.8M
$8.5M
Q3 24
$42.1M
$11.3M
Q2 24
$44.0M
$16.5M
Q1 24
$39.4M
$4.0M
Total Debt
AOMR
AOMR
TLSI
TLSI
Q4 25
$2.3B
Q3 25
$2.2B
Q2 25
Q1 25
Q4 24
$1.8B
Q3 24
Q2 24
Q1 24
Stockholders' Equity
AOMR
AOMR
TLSI
TLSI
Q4 25
$267.5M
$-33.9M
Q3 25
$264.2M
$-26.7M
Q2 25
$246.4M
$-19.4M
Q1 25
$251.5M
$-34.4M
Q4 24
$239.0M
$-25.9M
Q3 24
$265.1M
$-20.4M
Q2 24
$255.8M
$-25.3M
Q1 24
$263.3M
$-36.0M
Total Assets
AOMR
AOMR
TLSI
TLSI
Q4 25
$2.7B
$35.3M
Q3 25
$2.6B
$36.5M
Q2 25
$2.6B
$41.3M
Q1 25
$2.7B
$28.6M
Q4 24
$2.3B
$24.0M
Q3 24
$2.3B
$27.5M
Q2 24
$2.1B
$32.4M
Q1 24
$2.3B
$17.9M
Debt / Equity
AOMR
AOMR
TLSI
TLSI
Q4 25
8.51×
Q3 25
8.37×
Q2 25
Q1 25
Q4 24
7.62×
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
AOMR
AOMR
TLSI
TLSI
Operating Cash FlowLast quarter
$-407.0M
$-2.5M
Free Cash FlowOCF − Capex
$-2.5M
FCF MarginFCF / Revenue
-19.1%
Capex IntensityCapex / Revenue
0.3%
Cash ConversionOCF / Net Profit
-35.96×
TTM Free Cash FlowTrailing 4 quarters
$-19.1M

8-quarter trend — quarters aligned by calendar period.

Operating Cash Flow
AOMR
AOMR
TLSI
TLSI
Q4 25
$-407.0M
$-2.5M
Q3 25
$-173.4M
$-3.7M
Q2 25
$20.6M
$-7.3M
Q1 25
$-201.7M
$-4.5M
Q4 24
$-221.5M
$-5.7M
Q3 24
$-212.4M
$-10.8M
Q2 24
$-24.2M
$-13.4M
Q1 24
$40.2M
$-10.9M
Free Cash Flow
AOMR
AOMR
TLSI
TLSI
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
FCF Margin
AOMR
AOMR
TLSI
TLSI
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%
Capex Intensity
AOMR
AOMR
TLSI
TLSI
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%
Cash Conversion
AOMR
AOMR
TLSI
TLSI
Q4 25
-35.96×
Q3 25
-15.19×
Q2 25
26.92×
Q1 25
-9.83×
Q4 24
Q3 24
-6.81×
Q2 24
Q1 24
3.12×

Financial Flow Comparison

Revenue → gross profit → operating profit → net profit for each company.

Revenue Breakdown by Segment

AOMR
AOMR

Nonrelated Party$6.4M59%
Other$4.5M41%

TLSI
TLSI

Segment breakdown not available.

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