TELA Bio Q1 2020 Earnings Report
Key Takeaways
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.
Revenue increased by 13% to $3.7 million compared to the prior year period.
Gross profit was $2.2 million, representing 59% of revenue, compared to 54% in the same period in 2019.
Operating expenses increased to $8.7 million due to the expansion of the company’s commercial organization and increased costs associated with operating as a public company.
Net loss was $7.2 million, compared to a net loss of $6.0 million in the same period in 2019.
TELA Bio
TELA Bio
Forward Guidance
The Company expects revenue to decline in the second quarter of 2020 as compared to the most recent completed quarter and same quarter in 2019.