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Dec 31, 2021
TELA Bio Q4 2021 Earnings Report
TELA Bio reported financial results with revenue increase driven by commercial organization expansion and productivity gains.
Key Takeaways
TELA Bio reported a strong fourth quarter with a 48% increase in revenue compared to the prior year. The company's gross profit also increased, driven by a decrease in the reserve for excess and obsolete inventory. However, the company experienced a net loss of $8.6 million.
Revenue increased by 48% to $8.4 million compared to the prior year.
Gross profit increased to $5.7 million, representing 68% of revenue.
Operating expenses increased to $13.3 million due to expansion of commercialization activities.
Net loss was $8.6 million, compared to a net loss of $7.8 million in the same period in 2020.
TELA Bio
TELA Bio
Forward Guidance
Full year 2022 revenue is projected to range from $40 million to $45 million, reflecting growth of 36% to 53% over full year 2021.
Challenges Ahead
- The COVID-19 pandemic has had and will continue to have impact on our results of operations.
- A higher than expected impact from the COVID-19 pandemic in 2022 could materially affect this projection.