TriSalus Life Sciences(TLSI) - 2024 Q2 - Quarterly Results

Financial Performance - Reported revenues of $7.4 million in Q2 2024, up 60$13.8 million for the six months ended June 30, 2024, up 82% year-over-year[1] - Gross margin improved to 88% in Q2 2024 and 86% for the six months ended June 30, 2024, compared to 83% and 81% in the prior year periods[1] - Revenue for Q2 2024 reached $7,364,000, a 59.8$4,612,000 in Q2 2023[15] - Gross profit for the first half of 2024 was $11,938,000, compared to$6,162,000 in the same period of 2023, reflecting a 93.5% increase[15] - Net loss attributable to common stockholders for Q2 2024 was $5,133,000, down from$15,996,000 in Q2 2023, representing a 67.8% improvement[15] - Operating losses reduced to $8.2 million in Q2 2024 from$11.4 million in Q2 2023, and $19.9 million for the six months ended June 30, 2024, down from$21.6 million in the prior year[7] - Net losses available to common stockholders were $4.3 million in Q2 2024, significantly improved from$14.0 million in Q2 2023[8] - The basic and diluted loss per share for Q2 2024 was $0.21, compared to$35.84 for the same period in 2023[10] - The company reported a loss from operations of $8,174,000 in Q2 2024, an improvement from a loss of$11,434,000 in Q2 2023[15] Capital and Financing - Closed up to $50 million of debt financing with OrbiMed to support TriNav system growth initiatives, with$25 million borrowed at closing[5] - The company completed a warrant exchange offer, simplifying its capital structure and reducing potential dilution[9] - Total current assets increased to $27,941,000 as of June 30, 2024, up from$20,862,000 at the end of 2023, a growth of 33.5%[16] - Cash and cash equivalents rose to $16,481,000 in Q2 2024, compared to$11,777,000 at the end of 2023, an increase of 40.0%[16] - Total liabilities increased to $56,580,000 as of June 30, 2024, compared to$51,663,000 at the end of 2023, a rise of 9.5%[16] Research and Development - Anticipates reporting data from phase 1 trials of nelitolimod in Q4 2024 for uveal melanoma liver metastases and locally advanced pancreatic cancer[1] - The company plans to launch the "DELIVER" Program in Q3 2024 to expand the addressable market using the TriNav® Infusion System[1] - The DELIVER program aims to validate the PEDD technology's effectiveness in complex patient populations and enhance treatment outcomes[3] - Research and development expenses decreased to $10,523,000 in the first half of 2024 from$12,504,000 in 2023, a reduction of 15.9%[15] Shareholder Information - The weighted average common shares outstanding for Q2 2024 were 23,903,659, significantly higher than 446,287 in Q2 2023[15] - Interest income increased to $97,000 in Q2 2024 from$36,000 in Q2 2023, a growth of 169.4%[15]