What drove TLSI's earnings beat in Q2 2024?

TriSalus Life Sciences Inc. (TLSI) reported a notable 44% year-over-year increase in revenue for the fourth quarter of 2024, reaching $8.3 million, which contributed to a full-year revenue of $29.4 million, marking a 59% increase from 2023. The company's gross margins remained strong at 87% for Q4 and 86% for the full year 2024, indicating efficient operations. This growth was driven by several key factors:

1. **Product Portfolio Expansion**: The launch of the TriNav LV Infusion System and TriGuide Guiding Catheter enhanced their market reach, particularly in the $375 million liver embolization market and expanded into the $400 million thyroid embolization market.
2. **Market Share Increases**: There was a significant increase in unique ordering accounts, which grew by 43% in 2024, and a 10% rise in average units sold per account.
3. **DELIVER Program and HCPCS Reimbursement**: The DELIVER program and the new HCPCS reimbursement code for TriNav simulation angiograms, or mapping procedures, conducted prior to transarterial radioembolization, are expected to drive further market share increases.

In summary, TLSI's earnings beat in Q2 2024 can be attributed to its successful product launches, market expansion, and increased market share.