TELA Bio Q1 2022 Earnings Report
Key Takeaways
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.
Revenue increased by 40% compared to the prior year, reaching $8.2 million.
Gross profit was $5.0 million, or 61% of revenue, compared to $3.5 million, or 59% of revenue, in the same period in 2021.
Operating expenses increased to $14.8 million due to higher salaries, employee-related expenses, travel expenses, and professional fees.
Cash and cash equivalents totaled $33.0 million as of March 31, 2022.
TELA Bio
TELA Bio
Forward Guidance
Full year 2022 revenue remains projected to range from $40 million to $45 million, reflecting growth of 36% to 53% over full year 2021.
Challenges Ahead
- A higher than expected impact from the COVID-19 pandemic in 2022 could materially affect this projection.