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Side-by-side financial comparison of IT TECH PACKAGING, INC. (ITP) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
IT TECH PACKAGING, INC. is the larger business by last-quarter revenue ($25.6M vs $13.2M, roughly 1.9× TriSalus Life Sciences, Inc.). IT TECH PACKAGING, INC. runs the higher net margin — -5.7% vs -73.9%, a 68.2% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs 2.1%). IT TECH PACKAGING, INC. produced more free cash flow last quarter ($1.5M vs $-2.5M). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs 10.5%).
IT TECH PACKAGING, INC. is a paper manufacturing enterprise primarily operating in China. It produces and distributes a diverse portfolio of paper products including corrugated packaging paper, boxboard, and printing-use cultural paper, serving sectors such as consumer goods packaging, logistics, and commercial printing across its core market.
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.
ITP vs TLSI — Head-to-Head
Income Statement — Q3 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $25.6M | $13.2M |
| Net Profit | $-1.4M | $-9.8M |
| Gross Margin | 7.9% | 86.7% |
| Operating Margin | -3.9% | -24.8% |
| Net Margin | -5.7% | -73.9% |
| Revenue YoY | 2.1% | 59.8% |
| Net Profit YoY | 26.6% | 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 | — | $13.2M | ||
| Q3 25 | $25.6M | $11.6M | ||
| Q2 25 | $24.8M | $11.2M | ||
| Q1 25 | $10.9M | $9.2M | ||
| Q4 24 | $17.6M | $8.3M | ||
| Q3 24 | $25.1M | $7.3M | ||
| Q2 24 | $26.2M | $7.4M | ||
| Q1 24 | $6.9M | $6.5M |
| Q4 25 | — | $-9.8M | ||
| Q3 25 | $-1.4M | $-10.8M | ||
| Q2 25 | $-2.0M | $-8.3M | ||
| Q1 25 | $-3.5M | $-10.4M | ||
| Q4 24 | $-4.0M | $-10.1M | ||
| Q3 24 | $-2.0M | $-2.4M | ||
| Q2 24 | $-77.7K | $-4.3M | ||
| Q1 24 | $-3.7M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | 7.9% | 83.5% | ||
| Q2 25 | 5.1% | 83.9% | ||
| Q1 25 | 0.8% | 83.7% | ||
| Q4 24 | 6.3% | 85.3% | ||
| Q3 24 | 7.6% | 86.3% | ||
| Q2 24 | 12.4% | 87.6% | ||
| Q1 24 | 5.8% | 85.0% |
| Q4 25 | — | -24.8% | ||
| Q3 25 | -3.9% | -77.9% | ||
| Q2 25 | -7.1% | -65.4% | ||
| Q1 25 | -31.0% | -79.9% | ||
| Q4 24 | -21.5% | -91.8% | ||
| Q3 24 | -5.8% | -118.9% | ||
| Q2 24 | 2.1% | -111.0% | ||
| Q1 24 | -51.0% | -180.8% |
| Q4 25 | — | -73.9% | ||
| Q3 25 | -5.7% | -93.5% | ||
| Q2 25 | -7.9% | -73.9% | ||
| Q1 25 | -32.2% | -113.2% | ||
| Q4 24 | -22.9% | -122.4% | ||
| Q3 24 | -7.9% | -32.6% | ||
| Q2 24 | -0.3% | -58.8% | ||
| Q1 24 | -54.6% | -204.5% |
| Q4 25 | — | $-0.22 | ||
| Q3 25 | $-0.11 | $-0.96 | ||
| Q2 25 | $-0.16 | $-0.27 | ||
| Q1 25 | $-0.35 | $-0.39 | ||
| Q4 24 | $-0.40 | $-0.38 | ||
| Q3 24 | $-0.20 | $-0.12 | ||
| Q2 24 | $-0.01 | $-0.21 | ||
| Q1 24 | $-0.37 | $-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 | — | $20.4M |
| Total DebtLower is stronger | $4.7M | — |
| Stockholders' EquityBook value | $152.0M | $-33.9M |
| Total Assets | $175.7M | $35.3M |
| Debt / EquityLower = less leverage | 0.03× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $20.4M | ||
| Q3 25 | — | $22.7M | ||
| Q2 25 | — | $26.5M | ||
| Q1 25 | — | $13.0M | ||
| Q4 24 | — | $8.5M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $16.5M | ||
| Q1 24 | — | $4.0M |
| Q4 25 | — | — | ||
| Q3 25 | $4.7M | — | ||
| Q2 25 | $4.7M | — | ||
| Q1 25 | $4.7M | — | ||
| Q4 24 | $4.7M | — | ||
| Q3 24 | $8.9M | — | ||
| Q2 24 | $11.3M | — | ||
| Q1 24 | $11.4M | — |
| Q4 25 | — | $-33.9M | ||
| Q3 25 | $152.0M | $-26.7M | ||
| Q2 25 | $152.3M | $-19.4M | ||
| Q1 25 | $152.8M | $-34.4M | ||
| Q4 24 | $156.1M | $-25.9M | ||
| Q3 24 | $164.3M | $-20.4M | ||
| Q2 24 | $163.5M | $-25.3M | ||
| Q1 24 | $164.3M | $-36.0M |
| Q4 25 | — | $35.3M | ||
| Q3 25 | $175.7M | $36.5M | ||
| Q2 25 | $175.2M | $41.3M | ||
| Q1 25 | $175.2M | $28.6M | ||
| Q4 24 | $177.5M | $24.0M | ||
| Q3 24 | $190.0M | $27.5M | ||
| Q2 24 | $191.4M | $32.4M | ||
| Q1 24 | $177.5M | $17.9M |
| Q4 25 | — | — | ||
| Q3 25 | 0.03× | — | ||
| Q2 25 | 0.03× | — | ||
| Q1 25 | 0.03× | — | ||
| Q4 24 | 0.03× | — | ||
| Q3 24 | 0.05× | — | ||
| Q2 24 | 0.07× | — | ||
| Q1 24 | 0.07× | — |
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 | $1.5M | $-2.5M |
| Free Cash FlowOCF − Capex | $1.5M | $-2.5M |
| FCF MarginFCF / Revenue | 5.9% | -19.1% |
| Capex IntensityCapex / Revenue | 0.0% | 0.3% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $3.8M | $-19.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | — | $-2.5M | ||
| Q3 25 | $1.5M | $-3.7M | ||
| Q2 25 | $1.4M | $-7.3M | ||
| Q1 25 | $-2.5M | $-4.5M | ||
| Q4 24 | $3.5M | $-5.7M | ||
| Q3 24 | $1.5M | $-10.8M | ||
| Q2 24 | $721.9K | $-13.4M | ||
| Q1 24 | $624.4K | $-10.9M |
| Q4 25 | — | $-2.5M | ||
| Q3 25 | $1.5M | $-3.9M | ||
| Q2 25 | $1.3M | $-7.4M | ||
| Q1 25 | $-2.5M | $-5.3M | ||
| Q4 24 | $3.5M | $-5.8M | ||
| Q3 24 | $1.2M | $-11.0M | ||
| Q2 24 | $668.3K | $-13.5M | ||
| Q1 24 | $615.4K | $-10.9M |
| Q4 25 | — | -19.1% | ||
| Q3 25 | 5.9% | -33.9% | ||
| Q2 25 | 5.4% | -66.1% | ||
| Q1 25 | -22.8% | -57.3% | ||
| Q4 24 | 19.6% | -69.7% | ||
| Q3 24 | 4.9% | -149.9% | ||
| Q2 24 | 2.5% | -183.1% | ||
| Q1 24 | 9.0% | -169.3% |
| Q4 25 | — | 0.3% | ||
| Q3 25 | 0.0% | 1.9% | ||
| Q2 25 | 0.1% | 0.8% | ||
| Q1 25 | 0.1% | 8.2% | ||
| Q4 24 | 0.1% | 0.6% | ||
| Q3 24 | 1.0% | 2.3% | ||
| Q2 24 | 0.2% | 0.8% | ||
| Q1 24 | 0.1% | 1.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
