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Side-by-side financial comparison of TriSalus Life Sciences, Inc. (TLSI) and Village Farms International, Inc. (VFF). 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 $12.2M, roughly 1.1× Village Farms International, Inc.). Village Farms International, Inc. runs the higher net margin — 19.9% vs -73.9%, a 93.7% gap on every dollar of revenue. On growth, TriSalus Life Sciences, Inc. posted the faster year-over-year revenue change (59.8% vs 31.5%).
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.
Grafton Village Cheese Company is a cheesemaker in the town of Grafton in the U.S. state of Vermont. The company produces hand-crafted aged cheddar cheese.
TLSI vs VFF — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $13.2M | $12.2M |
| Net Profit | $-9.8M | $2.4M |
| Gross Margin | 86.7% | — |
| Operating Margin | -24.8% | — |
| Net Margin | -73.9% | 19.9% |
| Revenue YoY | 59.8% | 31.5% |
| Net Profit YoY | 3.5% | 128.2% |
| EPS (diluted) | $-0.22 | $0.01 |
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 | $12.2M | ||
| Q3 25 | $11.6M | $66.7M | ||
| Q2 25 | $11.2M | $59.9M | ||
| Q1 25 | $9.2M | $77.1M | ||
| Q4 24 | $8.3M | — | ||
| Q3 24 | $7.3M | $54.9M | ||
| Q2 24 | $7.4M | $53.6M | ||
| Q1 24 | $6.5M | $78.1M |
| Q4 25 | $-9.8M | $2.4M | ||
| Q3 25 | $-10.8M | $10.2M | ||
| Q2 25 | $-8.3M | $26.5M | ||
| Q1 25 | $-10.4M | $-6.7M | ||
| Q4 24 | $-10.1M | — | ||
| Q3 24 | $-2.4M | $-820.0K | ||
| Q2 24 | $-4.3M | $-23.5M | ||
| Q1 24 | $-13.2M | $-2.9M |
| Q4 25 | 86.7% | — | ||
| Q3 25 | 83.5% | 47.9% | ||
| Q2 25 | 83.9% | 37.3% | ||
| Q1 25 | 83.7% | 14.7% | ||
| Q4 24 | 85.3% | — | ||
| Q3 24 | 86.3% | 24.8% | ||
| Q2 24 | 87.6% | 25.4% | ||
| Q1 24 | 85.0% | 19.9% |
| Q4 25 | -24.8% | — | ||
| Q3 25 | -77.9% | 23.3% | ||
| Q2 25 | -65.4% | 20.8% | ||
| Q1 25 | -79.9% | -8.0% | ||
| Q4 24 | -91.8% | — | ||
| Q3 24 | -118.9% | 3.8% | ||
| Q2 24 | -111.0% | -43.5% | ||
| Q1 24 | -180.8% | -3.0% |
| Q4 25 | -73.9% | 19.9% | ||
| Q3 25 | -93.5% | 15.3% | ||
| Q2 25 | -73.9% | 44.2% | ||
| Q1 25 | -113.2% | -8.7% | ||
| Q4 24 | -122.4% | — | ||
| Q3 24 | -32.6% | -1.5% | ||
| Q2 24 | -58.8% | -43.9% | ||
| Q1 24 | -204.5% | -3.7% |
| Q4 25 | $-0.22 | $0.01 | ||
| Q3 25 | $-0.96 | $0.08 | ||
| Q2 25 | $-0.27 | $0.24 | ||
| Q1 25 | $-0.39 | $-0.06 | ||
| Q4 24 | $-0.38 | — | ||
| Q3 24 | $-0.12 | $-0.01 | ||
| Q2 24 | $-0.21 | $-0.21 | ||
| Q1 24 | $-0.60 | $-0.03 |
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 | $81.2M |
| Total DebtLower is stronger | — | $33.7M |
| Stockholders' EquityBook value | $-33.9M | $299.9M |
| Total Assets | $35.3M | $423.1M |
| Debt / EquityLower = less leverage | — | 0.11× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $20.4M | $81.2M | ||
| Q3 25 | $22.7M | $82.6M | ||
| Q2 25 | $26.5M | $60.0M | ||
| Q1 25 | $13.0M | $15.1M | ||
| Q4 24 | $8.5M | — | ||
| Q3 24 | $11.3M | $28.7M | ||
| Q2 24 | $16.5M | $29.7M | ||
| Q1 24 | $4.0M | $26.7M |
| Q4 25 | — | $33.7M | ||
| Q3 25 | — | $34.6M | ||
| Q2 25 | — | $39.1M | ||
| Q1 25 | — | $39.2M | ||
| Q4 24 | — | — | ||
| Q3 24 | — | $43.3M | ||
| Q2 24 | — | $44.4M | ||
| Q1 24 | — | $46.1M |
| Q4 25 | $-33.9M | $299.9M | ||
| Q3 25 | $-26.7M | $295.4M | ||
| Q2 25 | $-19.4M | $284.3M | ||
| Q1 25 | $-34.4M | $248.3M | ||
| Q4 24 | $-25.9M | — | ||
| Q3 24 | $-20.4M | $274.4M | ||
| Q2 24 | $-25.3M | $275.2M | ||
| Q1 24 | $-36.0M | $296.2M |
| Q4 25 | $35.3M | $423.1M | ||
| Q3 25 | $36.5M | $418.4M | ||
| Q2 25 | $41.3M | $403.7M | ||
| Q1 25 | $28.6M | $377.1M | ||
| Q4 24 | $24.0M | — | ||
| Q3 24 | $27.5M | $417.8M | ||
| Q2 24 | $32.4M | $425.4M | ||
| Q1 24 | $17.9M | $458.4M |
| Q4 25 | — | 0.11× | ||
| Q3 25 | — | 0.12× | ||
| Q2 25 | — | 0.14× | ||
| Q1 25 | — | 0.16× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 0.16× | ||
| Q2 24 | — | 0.16× | ||
| Q1 24 | — | 0.16× |
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 | — |
| Free Cash FlowOCF − Capex | $-2.5M | — |
| FCF MarginFCF / Revenue | -19.1% | — |
| Capex IntensityCapex / Revenue | 0.3% | 90.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-19.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $-3.7M | $24.4M | ||
| Q2 25 | $-7.3M | — | ||
| Q1 25 | $-4.5M | $-6.4M | ||
| Q4 24 | $-5.7M | — | ||
| Q3 24 | $-10.8M | $4.3M | ||
| Q2 24 | $-13.4M | $5.7M | ||
| Q1 24 | $-10.9M | $-50.0K |
| Q4 25 | $-2.5M | — | ||
| Q3 25 | $-3.9M | $22.6M | ||
| Q2 25 | $-7.4M | — | ||
| Q1 25 | $-5.3M | $-8.9M | ||
| Q4 24 | $-5.8M | — | ||
| Q3 24 | $-11.0M | $1.5M | ||
| Q2 24 | $-13.5M | $4.8M | ||
| Q1 24 | $-10.9M | $-1.9M |
| Q4 25 | -19.1% | — | ||
| Q3 25 | -33.9% | 33.9% | ||
| Q2 25 | -66.1% | — | ||
| Q1 25 | -57.3% | -11.6% | ||
| Q4 24 | -69.7% | — | ||
| Q3 24 | -149.9% | 2.7% | ||
| Q2 24 | -183.1% | 9.0% | ||
| Q1 24 | -169.3% | -2.5% |
| Q4 25 | 0.3% | 90.8% | ||
| Q3 25 | 1.9% | 2.7% | ||
| Q2 25 | 0.8% | 4.6% | ||
| Q1 25 | 8.2% | 3.3% | ||
| Q4 24 | 0.6% | — | ||
| Q3 24 | 2.3% | 5.1% | ||
| Q2 24 | 0.8% | 1.6% | ||
| Q1 24 | 1.0% | 2.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | 2.39× | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
TLSI
Segment breakdown not available.
VFF
| International Sales | $8.7M | 71% |
| Cannabis United States Segment | $3.4M | 27% |
