TELA Bio Earnings Reports

TELA Bio delivered a 4% increase in Q4 2024 revenue, supported by higher unit sales, despite facing pressure from lower average selling prices. The company reduced its operating expenses significantly, leading to a narrower net loss compared to the prior year.

TELA Bio reported a 26% increase in revenue to $19 million for the third quarter of 2024, marking a historic high. Gross profit was $12.9 million, or 68% of revenue. The company experienced a net loss of $10.4 million, and held $17.3 million in cash and cash equivalents as of September 30, 2024.

TELA Bio reported revenue of $16.1 million for the second quarter of 2024, an 11% increase compared to the same period in 2023. The company is reiterating its 2024 revenue target of $74.5 million to $76.5 million.

TELA Bio reported a revenue of $16.6 million for Q1 2024, a 39% increase compared to the same period in 2023. The company's gross profit was $11.3 million, representing 68% of revenue. Net loss was $5.7 million, a decrease from the $12.0 million net loss in Q1 2023, driven by a one-time gain of $7.6 million from the sale of certain assets related to the NIVIS.

TELA Bio reported a 46% increase in revenue for Q4 2023, reaching $17.0 million. The company's gross profit was $11.6 million, representing 68% of revenue. Net loss for the quarter was $12.9 million. The company launched LIQUIFIX devices and the upcoming launch of OviTex IHR suite of products.

TELA Bio reported a 35% increase in revenue to $15.1 million for the third quarter of 2023, driven by the expansion of their commercial organization and increased customer penetration. Gross profit was $10.4 million, representing 69% of revenue. The company anticipates full year 2023 revenue to range from $57.0 million to $60.0 million, reflecting growth of 38% to 45% over full year 2022.

TELA Bio reported a 39% increase in revenue to $14.5 million for the second quarter of 2023 compared to the same period in 2022. Gross profit increased to $10.2 million, or 70% of revenue, and the company's cash and cash equivalents totaled $65.3 million following a public offering.

TELA Bio reported a revenue of $11.9 million for Q1 2023, a 45% increase compared to the same period in 2022. The company's gross profit was $7.9 million, representing 66% of revenue. Despite an operating loss of $11.3 million and a net loss of $12.0 million, the company anticipates revenue growth and surgeon adoption to accelerate throughout the remainder of 2023.

TELA Bio reported a 39% increase in revenue for Q4 2022 compared to the same period in 2021, driven by commercial expansion, increased customer penetration, and stronger international sales. Gross profit also increased, while operating expenses led to a higher net loss compared to the previous year.

TELA Bio reported a strong third quarter with a 46% increase in revenue compared to the prior year period, driven by expansion of the commercial organization, increased penetration within existing customer accounts, and stronger international sales. The company's gross profit margin also increased due to a lower provision for excess and obsolete inventory. They anticipate a steady return to more customary procedure volumes as the impact of COVID-19 continues to subside.

TELA Bio reported a revenue of $10.4 million for the second quarter of 2022, representing a 38% increase compared to the prior year period. The company's gross profit was $6.6 million, or 63% of revenue. The net loss for the quarter was $12.7 million, and the company's cash and cash equivalents totaled $27.7 million.

TELA Bio reported a 40% increase in revenue to $8.2 million for the first quarter of 2022. Gross profit reached $5.0 million, representing 61% of revenue. The company's net loss was $10.9 million, and cash and cash equivalents totaled $33.0 million.

TELA Bio reported a strong fourth quarter with a 48% increase in revenue compared to the prior year. The company's gross profit also increased, driven by a decrease in the reserve for excess and obsolete inventory. However, the company experienced a net loss of $8.6 million.

TELA Bio reported a 44% increase in revenue for the third quarter of 2021 compared to the prior year, driven by expansion of the commercial organization, increased penetration within existing customer accounts and stronger than anticipated international sales. Revenue was $7.7 million. The company is maintaining its expectation for revenue to be in the range of $28.0 million to $30.0 million for the full year 2021.

TELA Bio reported a record second quarter revenue of $7.6 million, a 116% increase compared to the prior year period and up 29% compared to the first quarter of 2021. The increase was primarily driven by an increase in unit sales of products due to the expansion of the commercial organization, an increase in customer accounts, and increased penetration with existing customer accounts.

TELA Bio reported a 58% increase in revenue for the first quarter of 2021, reaching $5.9 million. The growth was primarily driven by increased unit sales due to the expansion of the commercial organization and increased penetration within existing customer accounts. The company's gross profit was $3.5 million, representing 59% of revenue. TELA Bio is maintaining its full-year revenue guidance of $27.0 million to $30.0 million.

TELA Bio reported a 17% increase in revenue for the fourth quarter of 2020, reaching $5.7 million, driven by the expansion of the commercial organization and increased penetration within existing customer accounts. Gross profit was $3.7 million, representing 65% of revenue, an increase from 61% in the same period of the previous year. The company experienced a net loss of $7.8 million for the quarter, compared to a net loss of $6.5 million in the prior year period.

TELA Bio reported a 34% increase in revenue for the third quarter of 2020, reaching $5.3 million. Gross profit was $3.3 million, representing 62% of revenue. The company experienced a net loss of $7.7 million, and total cash and cash equivalents were $81.5 million as of September 30, 2020.

TELA Bio reported a 6% increase in revenue to $3.5 million for Q2 2020, with a gross profit of $2.1 million, or 59% of revenue. The company's operating expenses were $7.3 million, leading to a net loss of $6.1 million. Cash and cash equivalents totaled $85.5 million at the end of the quarter.

TELA Bio's revenue for Q1 2020 was $3.7 million, a 13% increase compared to the prior year period. However, the company experienced a negative impact on revenues in the second half of March due to the deferral of elective surgical procedures related to the COVID-19 pandemic. The company is confident in its strong foundation of innovative products and dedicated team.

TELA Bio reported a 100% increase in revenue for Q4 2019 compared to the prior year period, driven by the expansion of its commercial organization, increased penetration within existing customer accounts, and the introduction of larger sizes of OviTex. The company's gross profit also increased to $3.0 million, or 61% of revenue, compared to $1.0 million, or 42% of revenue, in the same period in 2018.