TELA Bio Q1 revenue $8.2M (+40% YoY); net loss widens to $10.9M

TELA Bio, Inc.

2022-Q1 EPS reported -$0.75 revenue$8,231,000

Revenue grew 40% YoY to $8.2M; OviTex PRS revenue up 111% YoY.
Gross margin improved to 61% from 59% on lower excess/obsolete inventory adjustments.
Net loss $10.9M vs $8.1M; operating loss $9.8M vs $7.3M.
Cash and equivalents $33.0M; FY2022 revenue guidance reaffirmed at $40-45M.
Appointed D. Taylor Ocasio as General Counsel.

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