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Side-by-side financial comparison of enCore Energy Corp. (EU) 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 $12.4M, roughly 1.1× enCore Energy Corp.). TriSalus Life Sciences, Inc. runs the higher net margin — -73.9% vs -173.9%, a 100.1% gap on every dollar of revenue. enCore Energy Corp. produced more free cash flow last quarter ($7.2M vs $-2.5M).
Devon Energy Corporation is an American company engaged in hydrocarbon exploration. It is organized in Delaware with operational headquarters in the 50-story Devon Energy Center in Oklahoma City, Oklahoma. Its operations are in the Delaware Basin, Eagle Ford Group, and the Rocky Mountains.
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.
EU vs TLSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $12.4M | $13.2M |
| Net Profit | $-21.5M | $-9.8M |
| Gross Margin | 37.9% | 86.7% |
| Operating Margin | -135.9% | -24.8% |
| Net Margin | -173.9% | -73.9% |
| Revenue YoY | — | 59.8% |
| Net Profit YoY | — | 3.5% |
| EPS (diluted) | $-0.11 | $-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 | $12.4M | $13.2M | ||
| Q3 25 | $8.9M | $11.6M | ||
| Q2 25 | $3.7M | $11.2M | ||
| Q1 25 | $18.2M | $9.2M | ||
| Q4 24 | — | $8.3M | ||
| Q3 24 | — | $7.3M | ||
| Q2 24 | — | $7.4M | ||
| Q1 24 | — | $6.5M |
| Q4 25 | $-21.5M | $-9.8M | ||
| Q3 25 | $-4.8M | $-10.8M | ||
| Q2 25 | $-6.3M | $-8.3M | ||
| Q1 25 | $-24.2M | $-10.4M | ||
| Q4 24 | — | $-10.1M | ||
| Q3 24 | — | $-2.4M | ||
| Q2 24 | — | $-4.3M | ||
| Q1 24 | — | $-13.2M |
| Q4 25 | 37.9% | 86.7% | ||
| Q3 25 | 43.8% | 83.5% | ||
| Q2 25 | 30.8% | 83.9% | ||
| Q1 25 | -0.1% | 83.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | — | 86.3% | ||
| Q2 24 | — | 87.6% | ||
| Q1 24 | — | 85.0% |
| Q4 25 | -135.9% | -24.8% | ||
| Q3 25 | -158.2% | -77.9% | ||
| Q2 25 | -526.1% | -65.4% | ||
| Q1 25 | -85.7% | -79.9% | ||
| Q4 24 | — | -91.8% | ||
| Q3 24 | — | -118.9% | ||
| Q2 24 | — | -111.0% | ||
| Q1 24 | — | -180.8% |
| Q4 25 | -173.9% | -73.9% | ||
| Q3 25 | -53.7% | -93.5% | ||
| Q2 25 | -172.7% | -73.9% | ||
| Q1 25 | -132.9% | -113.2% | ||
| Q4 24 | — | -122.4% | ||
| Q3 24 | — | -32.6% | ||
| Q2 24 | — | -58.8% | ||
| Q1 24 | — | -204.5% |
| Q4 25 | $-0.11 | $-0.22 | ||
| Q3 25 | $-0.03 | $-0.96 | ||
| Q2 25 | $-0.03 | $-0.27 | ||
| Q1 25 | $-0.13 | $-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 | $52.4M | $20.4M |
| Total DebtLower is stronger | $110.0M | — |
| Stockholders' EquityBook value | $229.2M | $-33.9M |
| Total Assets | $430.4M | $35.3M |
| Debt / EquityLower = less leverage | 0.48× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $52.4M | $20.4M | ||
| Q3 25 | $91.9M | $22.7M | ||
| Q2 25 | $26.9M | $26.5M | ||
| Q1 25 | $29.7M | $13.0M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $16.5M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | $110.0M | — | ||
| Q3 25 | $109.3M | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $229.2M | $-33.9M | ||
| Q3 25 | $248.6M | $-26.7M | ||
| Q2 25 | $264.7M | $-19.4M | ||
| Q1 25 | $267.9M | $-34.4M | ||
| Q4 24 | — | $-25.9M | ||
| Q3 24 | — | $-20.4M | ||
| Q2 24 | — | $-25.3M | ||
| Q1 24 | — | $-36.0M |
| Q4 25 | $430.4M | $35.3M | ||
| Q3 25 | $441.9M | $36.5M | ||
| Q2 25 | $359.4M | $41.3M | ||
| Q1 25 | $362.6M | $28.6M | ||
| Q4 24 | — | $24.0M | ||
| Q3 24 | — | $27.5M | ||
| Q2 24 | — | $32.4M | ||
| Q1 24 | — | $17.9M |
| Q4 25 | 0.48× | — | ||
| Q3 25 | 0.44× | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| 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 | $12.9M | $-2.5M |
| Free Cash FlowOCF − Capex | $7.2M | $-2.5M |
| FCF MarginFCF / Revenue | 57.8% | -19.1% |
| Capex IntensityCapex / Revenue | 46.7% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-45.0M | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $12.9M | $-2.5M | ||
| Q3 25 | $-20.3M | $-3.7M | ||
| Q2 25 | $-9.9M | $-7.3M | ||
| Q1 25 | $-7.7M | $-4.5M | ||
| Q4 24 | — | $-5.7M | ||
| Q3 24 | — | $-10.8M | ||
| Q2 24 | — | $-13.4M | ||
| Q1 24 | — | $-10.9M |
| Q4 25 | $7.2M | $-2.5M | ||
| Q3 25 | $-26.3M | $-3.9M | ||
| Q2 25 | $-14.1M | $-7.4M | ||
| Q1 25 | $-11.7M | $-5.3M | ||
| Q4 24 | — | $-5.8M | ||
| Q3 24 | — | $-11.0M | ||
| Q2 24 | — | $-13.5M | ||
| Q1 24 | — | $-10.9M |
| Q4 25 | 57.8% | -19.1% | ||
| Q3 25 | -296.6% | -33.9% | ||
| Q2 25 | -385.2% | -66.1% | ||
| Q1 25 | -64.1% | -57.3% | ||
| Q4 24 | — | -69.7% | ||
| Q3 24 | — | -149.9% | ||
| Q2 24 | — | -183.1% | ||
| Q1 24 | — | -169.3% |
| Q4 25 | 46.7% | 0.3% | ||
| Q3 25 | 68.0% | 1.9% | ||
| Q2 25 | 115.1% | 0.8% | ||
| Q1 25 | 21.7% | 8.2% | ||
| Q4 24 | — | 0.6% | ||
| Q3 24 | — | 2.3% | ||
| Q2 24 | — | 0.8% | ||
| Q1 24 | — | 1.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
