vs
Side-by-side financial comparison of SPRUCE POWER HOLDING CORP (SPRU) and TriSalus Life Sciences, Inc. (TLSI). Click either name above to swap in a different company.
SPRUCE POWER HOLDING CORP is the larger business by last-quarter revenue ($24.0M vs $13.2M, roughly 1.8× TriSalus Life Sciences, Inc.). SPRUCE POWER HOLDING CORP runs the higher net margin — -28.6% vs -73.9%, a 45.3% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs 20.4%). TriSalus Life Sciences, Inc. produced more free cash flow last quarter ($-2.5M vs $-3.3M). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs 14.6%).
Spruce Finance is an American consumer finance company specializing in the residential solar finance and efficiency home improvement sectors in the U.S.
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.
SPRU vs TLSI — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $24.0M | $13.2M |
| Net Profit | $-6.9M | $-9.8M |
| Gross Margin | — | 86.7% |
| Operating Margin | 9.4% | -24.8% |
| Net Margin | -28.6% | -73.9% |
| Revenue YoY | 20.4% | 59.8% |
| Net Profit YoY | -15.8% | 3.5% |
| EPS (diluted) | $-0.38 | $-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 | $24.0M | $13.2M | ||
| Q3 25 | $30.7M | $11.6M | ||
| Q2 25 | $33.2M | $11.2M | ||
| Q1 25 | $23.8M | $9.2M | ||
| Q4 24 | $20.0M | $8.3M | ||
| Q3 24 | $21.4M | $7.3M | ||
| Q2 24 | $22.5M | $7.4M | ||
| Q1 24 | $18.3M | $6.5M |
| Q4 25 | $-6.9M | $-9.8M | ||
| Q3 25 | $-860.0K | $-10.8M | ||
| Q2 25 | $-3.0M | $-8.3M | ||
| Q1 25 | $-15.3M | $-10.4M | ||
| Q4 24 | $-5.9M | $-10.1M | ||
| Q3 24 | $-53.5M | $-2.4M | ||
| Q2 24 | $-8.6M | $-4.3M | ||
| Q1 24 | $-2.5M | $-13.2M |
| Q4 25 | — | 86.7% | ||
| Q3 25 | — | 83.5% | ||
| Q2 25 | — | 83.9% | ||
| Q1 25 | — | 83.7% | ||
| Q4 24 | — | 85.3% | ||
| Q3 24 | 54.8% | 86.3% | ||
| Q2 24 | 54.9% | 87.6% | ||
| Q1 24 | 51.5% | 85.0% |
| Q4 25 | 9.4% | -24.8% | ||
| Q3 25 | 27.6% | -77.9% | ||
| Q2 25 | 26.8% | -65.4% | ||
| Q1 25 | -7.1% | -79.9% | ||
| Q4 24 | -31.4% | -91.8% | ||
| Q3 24 | -173.8% | -118.9% | ||
| Q2 24 | -14.9% | -111.0% | ||
| Q1 24 | -19.7% | -180.8% |
| Q4 25 | -28.6% | -73.9% | ||
| Q3 25 | -2.8% | -93.5% | ||
| Q2 25 | -8.9% | -73.9% | ||
| Q1 25 | -64.4% | -113.2% | ||
| Q4 24 | -29.7% | -122.4% | ||
| Q3 24 | -250.4% | -32.6% | ||
| Q2 24 | -38.2% | -58.8% | ||
| Q1 24 | -13.4% | -204.5% |
| Q4 25 | $-0.38 | $-0.22 | ||
| Q3 25 | $-0.05 | $-0.96 | ||
| Q2 25 | $-0.17 | $-0.27 | ||
| Q1 25 | $-0.84 | $-0.39 | ||
| Q4 24 | $-0.36 | $-0.38 | ||
| Q3 24 | $-2.88 | $-0.12 | ||
| Q2 24 | $-0.45 | $-0.21 | ||
| Q1 24 | $-0.13 | $-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 | $54.8M | $20.4M |
| Total DebtLower is stronger | $695.5M | — |
| Stockholders' EquityBook value | $121.3M | $-33.9M |
| Total Assets | $837.3M | $35.3M |
| Debt / EquityLower = less leverage | 5.74× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $54.8M | $20.4M | ||
| Q3 25 | $53.6M | $22.7M | ||
| Q2 25 | $53.5M | $26.5M | ||
| Q1 25 | $61.9M | $13.0M | ||
| Q4 24 | $72.8M | $8.5M | ||
| Q3 24 | $113.7M | $11.3M | ||
| Q2 24 | $116.6M | $16.5M | ||
| Q1 24 | $120.6M | $4.0M |
| Q4 25 | $695.5M | — | ||
| Q3 25 | $705.6M | — | ||
| Q2 25 | $717.1M | — | ||
| Q1 25 | $723.8M | — | ||
| Q4 24 | $730.6M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $121.3M | $-33.9M | ||
| Q3 25 | $124.9M | $-26.7M | ||
| Q2 25 | $125.0M | $-19.4M | ||
| Q1 25 | $130.8M | $-34.4M | ||
| Q4 24 | $143.7M | $-25.9M | ||
| Q3 24 | $151.6M | $-20.4M | ||
| Q2 24 | $204.6M | $-25.3M | ||
| Q1 24 | $213.0M | $-36.0M |
| Q4 25 | $837.3M | $35.3M | ||
| Q3 25 | $857.1M | $36.5M | ||
| Q2 25 | $862.6M | $41.3M | ||
| Q1 25 | $878.0M | $28.6M | ||
| Q4 24 | $898.5M | $24.0M | ||
| Q3 24 | $806.8M | $27.5M | ||
| Q2 24 | $858.4M | $32.4M | ||
| Q1 24 | $867.9M | $17.9M |
| Q4 25 | 5.74× | — | ||
| Q3 25 | 5.65× | — | ||
| Q2 25 | 5.74× | — | ||
| Q1 25 | 5.53× | — | ||
| Q4 24 | 5.08× | — | ||
| 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 | $-3.3M | $-2.5M |
| Free Cash FlowOCF − Capex | $-3.3M | $-2.5M |
| FCF MarginFCF / Revenue | -13.7% | -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 | $-3.3M | $-2.5M | ||
| Q3 25 | $11.2M | $-3.7M | ||
| Q2 25 | $-2.3M | $-7.3M | ||
| Q1 25 | $-9.1M | $-4.5M | ||
| Q4 24 | $-13.5M | $-5.7M | ||
| Q3 24 | $-1.1M | $-10.8M | ||
| Q2 24 | $-5.1M | $-13.4M | ||
| Q1 24 | $-22.2M | $-10.9M |
| Q4 25 | $-3.3M | $-2.5M | ||
| Q3 25 | $11.2M | $-3.9M | ||
| Q2 25 | $-2.4M | $-7.4M | ||
| Q1 25 | $-9.2M | $-5.3M | ||
| Q4 24 | $-13.6M | $-5.8M | ||
| Q3 24 | $-1.1M | $-11.0M | ||
| Q2 24 | $-5.2M | $-13.5M | ||
| Q1 24 | $-22.3M | $-10.9M |
| Q4 25 | -13.7% | -19.1% | ||
| Q3 25 | 36.5% | -33.9% | ||
| Q2 25 | -7.3% | -66.1% | ||
| Q1 25 | -38.7% | -57.3% | ||
| Q4 24 | -68.3% | -69.7% | ||
| Q3 24 | -5.1% | -149.9% | ||
| Q2 24 | -23.1% | -183.1% | ||
| Q1 24 | -121.7% | -169.3% |
| Q4 25 | 0.0% | 0.3% | ||
| Q3 25 | 0.1% | 1.9% | ||
| Q2 25 | 0.3% | 0.8% | ||
| Q1 25 | 0.4% | 8.2% | ||
| Q4 24 | 0.9% | 0.6% | ||
| Q3 24 | 0.1% | 2.3% | ||
| Q2 24 | 0.4% | 0.8% | ||
| Q1 24 | 0.4% | 1.0% |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
