TriSalus Life Sciences Inc Q2 2025 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Nelson Cox - Lake Street Capital Markets LLC - Analyst : This is Nelson Cox on for Frank. Congrats on all the progress this quarter. And I guess we'll start with the new mapping that's now effective since April. Maybe just talk about that a bit more. Any incremental color on the reception in the market there? And what kind of contribution you're starting to see from that would be helpful.

Question: Nelson Cox - Lake Street Capital Markets LLC - Analyst : Perfect. That's helpful color. And then for David, just one on the operating expense side. I heard the one-timers in there. But maybe just walk us through how you're thinking about some of the OpEx moving forward? What kind of base we should be running off of and the mix we should be -- as we think about modeling through the remainder of the year into cash flow positivity and adjusted EBITDA in next year. And then yes, just directionally with some of the strategic shifts with the partnerships would be helpful.

Question: Matthew Park - Cantor Fitzgerald LP - Analyst : This is Matt Park on for Ross today. I guess just starting on gross margin, it came in a little bit softer than what we had. And I know you guys highlighted some lower manufacturing efficiencies as you start to ramp these newly launched products. Can you just walk us through the levers to see incremental margin expansion in the back half of this year and then into 2026?

Question: Matthew Park - Cantor Fitzgerald LP - Analyst : Got it. That's helpful. And then I guess one more for me on these registry trials. So please correct me if I'm wrong, but you initiated a pilot registry in GAE and then discussed previously about initiating one in uterine fibroid. I guess, can you just walk us through what type or level of evidence you need and you believe will be the most compelling to guideline committees as they evaluate TriNav in these procedures?