Tenon Medical Q4 revenue $1.5M (+92% YoY); full year $3.9M (+20%); FDA clearance for next-gen SI fusion system

Tenon Medical, Inc.

Q4 revenue $1.5M (+92% YoY); gross margin improved to 69% from 46%.
Full year 2025 revenue $3.9M (+20% YoY); gross margin 60%, up from 52%.
Net loss improved: Q4 loss $2.8M ($0.29/sh) vs $3.1M ($0.98/sh); full year loss $12.6M ($1.70/sh) vs $13.7M ($11.26/sh).
Received FDA 510(k) clearance for SImmetry+ SI Joint Fusion System, expanding to lateral approach.
Closed $4.3M convertible note offering in March 2026; cash $3.8M at year-end, no debt.

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