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Sep 30, 2023
TELA Bio Q3 2023 Earnings Report
TELA Bio reported financial results for the third quarter ended September 30, 2023, showing revenue growth and ongoing expansion.
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.
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.
Historical Earnings Impact
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