Loading...
•
Jun 30, 2021
TELA Bio Q2 2021 Earnings Report
Reported record second quarter revenue driven by increased demand.
Key Takeaways
TELA Bio reported a record second quarter revenue of $7.6 million, a 116% increase compared to the prior year period and up 29% compared to the first quarter of 2021. The increase was primarily driven by an increase in unit sales of products due to the expansion of the commercial organization, an increase in customer accounts, and increased penetration with existing customer accounts.
Revenue was $7.6 million, up 116% compared to the prior year period.
Gross profit was $5.1 million, or 67% of revenue, compared to $2.1 million, or 59% of revenue, in the same period in 2020.
Operating expenses were $12.4 million, including a one-time non-cash stock-based compensation expense of $0.7 million.
Cash and Cash Equivalents at June 30, 2021 were $60.3 million.
Forward Guidance
TELA Bio is increasing its total revenue guidance to be in the range of $28.0 million to $30.0 million, representing growth of 54% to 65% over the prior year period.
Challenges Ahead
- Continued uncertainty relating to the dynamic environment with the COVID-19 pandemic could materially impact this projection.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...