TELA Bio Q3 revenue $15.1M (+35% YoY); narrows FY2023 guidance to $57-60M

TELA Bio, Inc.

2023-Q3 EPS reported -$1.51 revenue$41,455,000

Revenue of $15.1M, up 35% YoY, marking 11th straight quarter of ≥35% growth.
OviTex hernia mesh now #1 biologic mesh in U.S. by unit volume.
OviTex PRS revenue grew 46% YoY; commercial launch of Long-Term Resorbable variant.
Q3 net loss $11.0M vs. $10.7M a year ago; cash $58.2M at quarter end.
Updated FY2023 revenue guidance to $57-60M (38-45% YoY growth).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

TELA Bio, Inc. reported third quarter ended September 30, 2023 results: revenue $15.1 million, net income $11.0 million. Guidance reaffirmed.

Period: third quarter ended September 30, 2023
Revenue: $15.1 million
Net income: $11.0 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

the preservation and restoration of the patient's own anatomy, today reported financial results for the third quarter ended September 30, 2023. Recent Highlights · Revenue of $15.1 million in the third quarter, representing growth of 35% over the third quarter of 2022 – the 11th consecutive quarter of 35% or greater year-over-year growth; · Demand for OviTex® and

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Source: SEC EDGAR

accession 0001104659-23-116264

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