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Jun 30, 2023
TELA Bio Q2 2023 Earnings Report
Reported sequential growth driven by increased sales momentum and improving macroeconomic conditions.
Key Takeaways
TELA Bio reported a 39% increase in revenue to $14.5 million for the second quarter of 2023 compared to the same period in 2022. Gross profit increased to $10.2 million, or 70% of revenue, and the company's cash and cash equivalents totaled $65.3 million following a public offering.
Revenue increased by 39% compared to the same period in 2022, reaching $14.5 million.
Gross profit was $10.2 million, representing 70% of revenue, compared to 63% in the same period last year.
Operating expenses increased to $20.6 million due to higher compensation, travel, consulting fees, and study costs.
Cash and cash equivalents totaled $65.3 million following a public offering.
Forward Guidance
The company continues to expect full year 2023 revenue to range from $60.0 million to $65.0 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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