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Mar 31, 2024
TELA Bio Q1 2024 Earnings Report
TELA Bio reported strong momentum with a maturing sales force, strategic product portfolio launches, and sustained market share growth.
Key Takeaways
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.
Revenue increased by 39% to $16.6 million compared to Q1 2023.
Gross profit was $11.3 million, or 68% of revenue, compared to $7.9 million, or 66% of revenue, in the same period in 2023.
Operating expenses were $23.7 million, compared to $19.2 million in the same period in 2023.
Net loss decreased to $5.7 million, compared to a net loss of $12.0 million in the same period in 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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