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Mar 31, 2023
TELA Bio Q1 2023 Earnings Report
TELA Bio's revenue increased by 45% year-over-year, driven by commercial expansion and market penetration.
Key Takeaways
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.
Revenue increased by 45% year-over-year, reaching $11.9 million in Q1 2023.
Gross profit was $7.9 million, or 66% of revenue, compared to $5.0 million, or 61% of revenue, in the same period in 2022.
Operating expenses increased to $19.2 million, driven by higher compensation and employee-related expenses.
Cash and cash equivalents totaled $30.1 million as of March 31, 2023.
Forward Guidance
The company expects full year 2023 revenue to range from $60 million to $65 million, reflecting growth of 45% to 57% over full year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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