TELA Bio Q3 2024: revenue $19.0M (+26% YoY), net loss $10.4M; reaffirms FY2024 guidance

TELA Bio, Inc.

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

Revenue $19.0M, +26% YoY; OviTex unit sales +39%, OviTex PRS +44% YoY.
Net loss $10.4M vs $11.0M loss in Q3 2023; operating loss $9.4M vs $10.2M.
Gross margin 68% vs 69% YoY due to higher excess/obsolete inventory charge.
Closed public offering yielding ~$46M gross proceeds; cash $17.3M at Sept 30.
Expects $5M-$10M reduction in 2025 operating expenses from H1 2024 annualized; reiterates FY2024 revenue guidance $74.5M-$76.5M.

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