Financial Performance - Revenue for Q3 2024 was $19.0 million, a 26% increase compared to Q3 2023[2] - Gross profit was $12.9 million, representing 68% of revenue, compared to 69% in the same period last year[5] - Net loss for Q3 2024 was $10.4 million, an improvement from a net loss of $11.0 million in Q3 2023[7] - The company reiterated full year 2024 revenue guidance of $74.5 million to $76.5 million, indicating a year-over-year growth of 27% to 31%[2] Sales Performance - Unit sales for OviTex® and OviTex PRS Reinforced Tissue Matrix products grew approximately 39% and 44% year-over-year, respectively[2] Expenses and Efficiency - Operating expenses for Q3 2024 were $22.2 million, up from $20.6 million in Q3 2023[6] - Expected operational efficiency improvements may reduce operating expenses in 2025 by $5.0 million to $10.0 million[2] Cash and Assets - Cash and cash equivalents totaled $17.3 million as of September 30, 2024[7] - Total assets decreased to $53.0 million as of September 30, 2024, down from $78.0 million at the end of 2023[12] Capital Raising - The company closed a public offering yielding gross proceeds of approximately $46.0 million[2]

Core Viewpoint - TELA Bio, Inc. has successfully closed a public offering of 14,670,000 shares of common stock, raising gross proceeds of $46 million, which will be utilized for various corporate purposes [1][2]. Group 1: Offering Details - The public offering price was set at $2.25 per share, with an additional option for investors to purchase pre-funded warrants at a price of $2.2499 each, allowing for the purchase of 5,800,000 shares [1]. - The offering included the full exercise of the underwriters' option to purchase additional shares [1]. - Canaccord Genuity and Lake Street Capital Markets served as joint bookrunners for the offering [2]. Group 2: Use of Proceeds - The net proceeds from the offering are intended for general corporate purposes, which encompass sales and marketing, research and development, general and administrative expenses, working capital, and capital expenditures [2]. Group 3: Company Overview - TELA Bio, Inc. is a commercial-stage medical technology company that focuses on innovative soft-tissue reconstruction solutions, aiming to optimize clinical outcomes by preserving and restoring the patient's anatomy [5]. - The company emphasizes the use of advanced technologies that leverage the patient's natural healing response while minimizing long-term exposure to synthetic materials [5].

MALVERN, Pa., Oct. 23, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction, today announced the pricing of an underwritten public offering of 12,000,000 shares of its common stock at a price to the public of $2.25 per share and, in lieu of common stock to investors who so choose, pre-funded warrants to purchase 5,800,000 shares of common stock at a public offering price of $2.2499 per pre-funded warrant, w ...

MALVERN, Pa., Oct. 17, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions, today announced that the Company will report third quarter 2024 financial results on Thursday, November 7, 2024. TELA Bio's management will host a conference call and webcast at 4:30 p.m. ET that day to discuss the financial results and provide a corporate update. Third Quarter Earnings Conference Call ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | --- | --- | --- | |-------------------------------------------------------------------------------------|----------------------------------------------------------------- ...

TELA Bio, Inc. (NASDAQ:TELA) Q2 2024 Results Conference Call August 12, 2024 4:30 PM ET Company Participants Louisa Smith - Vice President of Gilmartin Group Antony Koblish - Co-founder, President & CEO Roberto Cuca - COO & CFO Conference Call Participants Frank Takkinen - Lake Street Capital Markets Caitlin Cronin - Canaccord Genuity Matthew O'Brien - Piper Sandler Michael Sarcone - Jefferies David Turkaly - Citizens JMP Operator Good afternoon, ladies and gentlemen, and welcome to the TELA Bio Second Quar ...

TELA Bio, Inc. (TELA) came out with a quarterly loss of $0.51 per share versus the Zacks Consensus Estimate of a loss of $0.45. This compares to loss of $0.46 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -13.33%. A quarter ago, it was expected that this company would post a loss of $0.48 per share when it actually produced a loss of $0.23, delivering a surprise of 52.08%. Over the last four quarters, the company has surpass ...

Exhibit 99.1 TELA Bio Reports Second Quarter 2024 Financial Results and Reiterates Full Year 2024 Revenue Guidance MALVERN, PA, August 12, 2024 -- TELA Bio, Inc. ("TELA Bio"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions today reported financial results for the second quarter ended June 30, 2024. Recent Highlights · Reported revenue of $16.1 million in the second quarter, representing growth of 11% over the prior year period of 2023; · Ap ...

MALVERN, Pa., Aug. 12, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio"), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions today reported financial results for the second quarter ended June 30, 2024. Recent Highlights Reported revenue of $16.1 million in the second quarter, representing growth of 11% over the prior year period of 2023; Appointed Greg Firestone as Chief Commercial Officer on May 20, 2024 to drive our next phase of revenue g ...

MALVERN, Pa., Aug. 09, 2024 (GLOBE NEWSWIRE) -- TELA Bio, Inc. ("TELA Bio") (NASDAQ: TELA), a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions, today announced that the Compensation Committee of the Board of Directors of TELA Bio approved inducement grants of restricted stock units covering 16,000 shares of its common stock to nine newly-hired employees, with a grant date of August 6, 2024 (the "Grant Date"). The restricted stock units were gra ...