TELA Bio reports preliminary Q3 revenue of $19M (+26% YoY); implements cost cuts

TELA Bio, Inc.

2024-Q3 EPS reported -$1.16 revenue$51,651,000

Revenue $19.0M for Q3 2024 vs $15.1M in Q3 2023, a 26% increase.
Gross margin ~68% vs 69% in prior-year quarter.
Cash and equivalents $17.3M at Sept 30, 2024, down from $46.7M at Dec 31, 2023.
Cost-cutting measures expected to reduce FY2025 operating expenses by $5M-$10M annualized.

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