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Dec 31, 2020
TELA Bio Q4 2020 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2020.
Key Takeaways
TELA Bio reported a 17% increase in revenue for the fourth quarter of 2020, reaching $5.7 million, driven by the expansion of the commercial organization and increased penetration within existing customer accounts. Gross profit was $3.7 million, representing 65% of revenue, an increase from 61% in the same period of the previous year. The company experienced a net loss of $7.8 million for the quarter, compared to a net loss of $6.5 million in the prior year period.
Revenue increased by 17% to $5.7 million compared to the prior year period due to commercial expansion and increased customer penetration.
Gross profit reached $3.7 million, representing 65% of revenue, driven by improved inventory management.
Operating expenses increased to $10.4 million due to commercialization activities, personnel costs, and insurance premiums.
Net loss was $7.8 million, compared to a net loss of $6.5 million in the same period in 2019.
Forward Guidance
For the full year 2021, TELA Bio expects total revenue to be in the range of $27.0 million to $30.0 million, representing growth of 48% to 65% over the prior year period.
Positive Outlook
- Total revenue to be in the range of $27.0 million to $30.0 million
- Revenue growth of 48% to 65% over the prior year period.
Challenges Ahead
- Continued uncertainty relating to the dynamic environment with the COVID-19 pandemic could materially impact our estimate.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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