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Jun 30, 2020
TELA Bio Q2 2020 Earnings Report
Reported financial results, demonstrating resilience and flexibility amidst pandemic challenges.
Key Takeaways
TELA Bio reported a 6% increase in revenue to $3.5 million for Q2 2020, with a gross profit of $2.1 million, or 59% of revenue. The company's operating expenses were $7.3 million, leading to a net loss of $6.1 million. Cash and cash equivalents totaled $85.5 million at the end of the quarter.
Revenue increased by 6% compared to the prior year period, reaching $3.5 million.
Gross profit was $2.1 million, representing 59% of revenue.
Operating expenses increased to $7.3 million due to commercial expansion and public company costs.
Cash and cash equivalents totaled $85.5 million.
TELA Bio
TELA Bio
Forward Guidance
Due to the uncertainty caused by the COVID-19 pandemic, TELA Bio will not be providing 2020 financial guidance.