vs
Side-by-side financial comparison of TriSalus Life Sciences, Inc. (TLSI) and Velo3D, Inc. (VELO). 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 $9.4M, roughly 1.4× Velo3D, Inc.). TriSalus Life Sciences, Inc. runs the higher net margin — -73.9% vs -231.9%, a 158.1% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs -25.2%). TriSalus Life Sciences, Inc. produced more free cash flow last quarter ($-2.5M vs $-8.3M). Over the past eight quarters, TriSalus Life Sciences, Inc.'s revenue compounded faster (43.0% CAGR vs -1.8%).
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.
Velo3D, Inc. develops and sells advanced end-to-end metal additive manufacturing (3D printing) solutions, comprising industrial-grade printers, specialized processing software, and high-performance metal materials. It primarily serves global aerospace, defense, energy, semiconductor and industrial manufacturing markets, enabling customers to produce complex, high-precision metal parts that are difficult to manufacture with traditional methods.
TLSI vs VELO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $9.4M |
| Net Profit | $-9.8M | $-21.9M |
| Gross Margin | 86.7% | -73.6% |
| Operating Margin | -24.8% | -231.0% |
| Net Margin | -73.9% | -231.9% |
| Revenue YoY | 59.8% | -25.2% |
| Net Profit YoY | 3.5% | -2.9% |
| EPS (diluted) | $-0.22 | $-0.87 |
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 | $9.4M | ||
| Q3 25 | $11.6M | $13.6M | ||
| Q2 25 | $11.2M | $13.6M | ||
| Q1 25 | $9.2M | $9.3M | ||
| Q4 24 | $8.3M | $12.6M | ||
| Q3 24 | $7.3M | $8.2M | ||
| Q2 24 | $7.4M | $10.3M | ||
| Q1 24 | $6.5M | $9.8M |
| Q4 25 | $-9.8M | $-21.9M | ||
| Q3 25 | $-10.8M | $-11.2M | ||
| Q2 25 | $-8.3M | $-13.3M | ||
| Q1 25 | $-10.4M | $-25.0M | ||
| Q4 24 | $-10.1M | $-21.3M | ||
| Q3 24 | $-2.4M | $-21.9M | ||
| Q2 24 | $-4.3M | $935.0K | ||
| Q1 24 | $-13.2M | $-27.5M |
| Q4 25 | 86.7% | -73.6% | ||
| Q3 25 | 83.5% | 3.2% | ||
| Q2 25 | 83.9% | -11.7% | ||
| Q1 25 | 83.7% | 7.5% | ||
| Q4 24 | 85.3% | -3.5% | ||
| Q3 24 | 86.3% | 49.4% | ||
| Q2 24 | 87.6% | -28.0% | ||
| Q1 24 | 85.0% | -28.8% |
| Q4 25 | -24.8% | -231.0% | ||
| Q3 25 | -77.9% | -73.3% | ||
| Q2 25 | -65.4% | -85.4% | ||
| Q1 25 | -79.9% | -123.6% | ||
| Q4 24 | -91.8% | -167.0% | ||
| Q3 24 | -118.9% | -213.8% | ||
| Q2 24 | -111.0% | -187.7% | ||
| Q1 24 | -180.8% | -211.1% |
| Q4 25 | -73.9% | -231.9% | ||
| Q3 25 | -93.5% | -82.0% | ||
| Q2 25 | -73.9% | -97.7% | ||
| Q1 25 | -113.2% | -268.4% | ||
| Q4 24 | -122.4% | -168.5% | ||
| Q3 24 | -32.6% | -265.3% | ||
| Q2 24 | -58.8% | 9.0% | ||
| Q1 24 | -204.5% | -281.2% |
| Q4 25 | $-0.22 | $-0.87 | ||
| Q3 25 | $-0.96 | $-0.65 | ||
| Q2 25 | $-0.27 | $-0.94 | ||
| Q1 25 | $-0.39 | $-1.87 | ||
| Q4 24 | $-0.38 | $7.06 | ||
| Q3 24 | $-0.12 | $-35.52 | ||
| Q2 24 | $-0.21 | $1.65 | ||
| Q1 24 | $-0.60 | $-55.51 |
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 | $39.0M |
| Total DebtLower is stronger | — | $31.0M |
| Stockholders' EquityBook value | $-33.9M | $38.2M |
| Total Assets | $35.3M | $105.3M |
| Debt / EquityLower = less leverage | — | 0.81× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.4M | $39.0M | ||
| Q3 25 | $22.7M | $11.8M | ||
| Q2 25 | $26.5M | $854.0K | ||
| Q1 25 | $13.0M | $3.9M | ||
| Q4 24 | $8.5M | $1.2M | ||
| Q3 24 | $11.3M | $1.6M | ||
| Q2 24 | $16.5M | $3.2M | ||
| Q1 24 | $4.0M | $10.9M |
| Q4 25 | — | $31.0M | ||
| Q3 25 | — | $23.0M | ||
| Q2 25 | — | $22.5M | ||
| Q1 25 | — | $21.7M | ||
| Q4 24 | — | $5.7M | ||
| Q3 24 | — | $32.3M | ||
| Q2 24 | — | $33.5M | ||
| Q1 24 | — | $44.0M |
| Q4 25 | $-33.9M | $38.2M | ||
| Q3 25 | $-26.7M | $29.9M | ||
| Q2 25 | $-19.4M | $21.4M | ||
| Q1 25 | $-34.4M | $32.8M | ||
| Q4 24 | $-25.9M | $39.7M | ||
| Q3 24 | $-20.4M | $34.4M | ||
| Q2 24 | $-25.3M | $52.1M | ||
| Q1 24 | $-36.0M | $45.5M |
| Q4 25 | $35.3M | $105.3M | ||
| Q3 25 | $36.5M | $93.7M | ||
| Q2 25 | $41.3M | $78.4M | ||
| Q1 25 | $28.6M | $91.3M | ||
| Q4 24 | $24.0M | $89.2M | ||
| Q3 24 | $27.5M | $110.8M | ||
| Q2 24 | $32.4M | $116.7M | ||
| Q1 24 | $17.9M | $136.1M |
| Q4 25 | — | 0.81× | ||
| Q3 25 | — | 0.77× | ||
| Q2 25 | — | 1.05× | ||
| Q1 25 | — | 0.66× | ||
| Q4 24 | — | 0.14× | ||
| Q3 24 | — | 0.94× | ||
| Q2 24 | — | 0.64× | ||
| Q1 24 | — | 0.97× |
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 | $-2.5M | $-7.7M |
| Free Cash FlowOCF − Capex | $-2.5M | $-8.3M |
| FCF MarginFCF / Revenue | -19.1% | -88.3% |
| Capex IntensityCapex / Revenue | 0.3% | 6.4% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-19.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | $-7.7M | ||
| Q3 25 | $-3.7M | $-6.0M | ||
| Q2 25 | $-7.3M | $-1.2M | ||
| Q1 25 | $-4.5M | $-12.3M | ||
| Q4 24 | $-5.7M | $-2.2M | ||
| Q3 24 | $-10.8M | $-2.0M | ||
| Q2 24 | $-13.4M | $-8.0M | ||
| Q1 24 | $-10.9M | $-20.5M |
| Q4 25 | $-2.5M | $-8.3M | ||
| Q3 25 | $-3.9M | $-6.3M | ||
| Q2 25 | $-7.4M | $-3.0M | ||
| Q1 25 | $-5.3M | — | ||
| Q4 24 | $-5.8M | $-2.2M | ||
| Q3 24 | $-11.0M | $-2.0M | ||
| Q2 24 | $-13.5M | $-8.0M | ||
| Q1 24 | $-10.9M | $-20.5M |
| Q4 25 | -19.1% | -88.3% | ||
| Q3 25 | -33.9% | -46.5% | ||
| Q2 25 | -66.1% | -22.2% | ||
| Q1 25 | -57.3% | — | ||
| Q4 24 | -69.7% | -17.7% | ||
| Q3 24 | -149.9% | -24.2% | ||
| Q2 24 | -183.1% | -77.1% | ||
| Q1 24 | -169.3% | -209.8% |
| Q4 25 | 0.3% | 6.4% | ||
| Q3 25 | 1.9% | 2.3% | ||
| Q2 25 | 0.8% | 13.3% | ||
| Q1 25 | 8.2% | 0.0% | ||
| Q4 24 | 0.6% | 0.2% | ||
| Q3 24 | 2.3% | 0.2% | ||
| Q2 24 | 0.8% | 0.0% | ||
| Q1 24 | 1.0% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | -8.52× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
