TELA Bio Q3 2024 Earnings Report
Key Takeaways
TELA Bio reported a 26% increase in revenue to $19 million for the third quarter of 2024, marking a historic high. Gross profit was $12.9 million, or 68% of revenue. The company experienced a net loss of $10.4 million, and held $17.3 million in cash and cash equivalents as of September 30, 2024.
Third quarter revenue reached a historic high of $19 million, reflecting strong product demand.
Revenue increased by 26% compared to the same period in 2023, driven by increased unit sales and international growth.
Gross profit was $12.9 million, representing 68% of revenue.
The company is focused on commercial leadership and demonstrating increased operating leverage.
TELA Bio
TELA Bio
Forward Guidance
TELA Bio reiterates its 2024 revenue guidance and anticipates reduced operating expenses in 2025 due to recently implemented operational efficiency improvements.