TELA Bio Q4 2019 Earnings Report
Key Takeaways
TELA Bio reported a 100% increase in revenue for Q4 2019 compared to the prior year period, driven by the expansion of its commercial organization, increased penetration within existing customer accounts, and the introduction of larger sizes of OviTex. The company's gross profit also increased to $3.0 million, or 61% of revenue, compared to $1.0 million, or 42% of revenue, in the same period in 2018.
Revenue increased by 100% compared to the prior year period.
Gross profit increased to $3.0 million, representing 61% of revenue.
Operating expenses increased due to expansion of salesforce and related activities.
Net loss was $6.5 million, compared to a net loss of $7.4 million in the same period in 2018.
TELA Bio
TELA Bio
Forward Guidance
For the first quarter of 2020, TELA Bio expects total revenue to be in the range of $3.5 million to $4.0 million, representing growth of 6% to 21% over the prior year period. Due to uncertainties in procedural volume stemming from COVID-19 and its potential negative impact on its financials, TELA Bio is not providing guidance for the full year 2020.