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Mar 31, 2021
TELA Bio Q1 2021 Earnings Report
TELA Bio experienced revenue growth despite COVID-19 headwinds, driven by increasing demand for products.
Key Takeaways
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.
Revenue increased by 58% to $5.9 million compared to the prior year period.
Gross profit was $3.5 million, representing 59% of revenue.
Operating expenses were $10.7 million, driven by expansion of commercialization activities and increased personnel and R&D costs.
Cash and cash equivalents were $65.8 million as of March 31, 2021.
Forward Guidance
TELA Bio is maintaining its total revenue guidance to be in the range of $27.0 million to $30.0 million for the full year 2021, representing growth of 48% to 65% over the prior year period.
Challenges Ahead
- Continued uncertainty relating to the dynamic environment with the COVID-19 pandemic could materially impact the estimate.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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