TELA Bio Q3 2023 Earnings Report
Key Takeaways
TELA Bio reported a 35% increase in revenue to $15.1 million for the third quarter of 2023, driven by the expansion of their commercial organization and increased customer penetration. Gross profit was $10.4 million, representing 69% of revenue. The company anticipates full year 2023 revenue to range from $57.0 million to $60.0 million, reflecting growth of 38% to 45% over full year 2022.
Revenue increased by 35% to $15.1 million compared to the same period in 2022.
Gross profit was $10.4 million, representing 69% of revenue.
Operating expenses were $20.6 million in the third quarter of 2023.
Cash and cash equivalents totaled $58.2 million as of September 30, 2023.
TELA Bio
TELA Bio
Forward Guidance
The company expects full year 2023 revenue to range from $57.0 million to $60.0 million, reflecting growth of 38% to 45% over full year 2022.