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Sep 30, 2021
TELA Bio Q3 2021 Earnings Report
TELA Bio reported strong revenue growth in the third quarter of 2021, driven by increased demand for OviTex products and expansion of the commercial organization, despite market volatility due to COVID-19.
Key Takeaways
TELA Bio reported a 44% increase in revenue for the third quarter of 2021 compared to the prior year, driven by expansion of the commercial organization, increased penetration within existing customer accounts and stronger than anticipated international sales. Revenue was $7.7 million. The company is maintaining its expectation for revenue to be in the range of $28.0 million to $30.0 million for the full year 2021.
Revenue for the third quarter of 2021 was $7.7 million, a 44% increase compared to the prior year period.
Gross profit for the third quarter of 2021 was $4.6 million, or 60% of revenue.
Operating expenses were $11.8 million in the third quarter of 2021, compared to $10.2 million in the same period in 2020.
Cash and Cash Equivalents at September 30, 2021 were $53.6 million.
Forward Guidance
TELA Bio is maintaining its expectation for revenue to be in the range of $28.0 million to $30.0 million for the full year 2021, 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
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Avg. Return Before/After Earnings
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