To support these strategic enhancements, we strengthened our balance sheet through a $2.85 million At-The-Market PIPE financing that provides flexibility to expand our commercial organization, support our product rollout initiatives, advance clinical programs and continue building operational infrastructure. Subsequent to quarter end, we further strengthened our financial position by closing a private placement of senior convertible notes for gross proceeds of $4.3 million. Net proceeds will fund continued ...

Financial Data and Key Metrics Changes - The company achieved record full-year revenue of $3.9 million, a 20% increase compared to 2024, with fourth quarter revenue of $1.5 million, representing a 92% increase over the prior year period [3][9] - Gross profit for the fourth quarter was $1 million or 69% of revenue, compared to $0.4 million or 46% of revenue in the prior-year quarter, marking a 188% increase and a 23 percentage point improvement in gross margin [10] - Operating expenses totaled $3.9 million for the fourth quarter of 2025, up from $3.5 million in the prior year quarter, while for the full year, operating expenses totaled $15.2 million, compared to $15.5 million in the prior year period [11][12] Business Line Data and Key Metrics Changes - Revenue growth was primarily driven by an increase in surgical procedures across both the Catamaran and SImmetry+ platforms, particularly in the second half of 2025, led by new physician users [3][9] - The company hosted 24 physicians in targeted training sessions for both platforms during the fourth quarter, supporting clinical engagement and adoption [4] Market Data and Key Metrics Changes - The company received FDA 510(k) clearance for the next generation SImmetry+ SI joint fusion system, enhancing its ability to serve a broader range of surgeon preferences and patient anatomies [4][7] - The company expanded its intellectual property portfolio, receiving notices of allowance for multiple applications expected to issue in 2026, bringing its global estate to 29 issued U.S. patents and 31 pending applications [7] Company Strategy and Development Direction - The company is committed to advancing its market position with increased adoption across its expanding portfolio, leveraging regulatory and market momentum to drive broader commercial uptake [8] - The focus is on optimizing the cost structure and scaling operations to extend market reach more efficiently, with plans to accelerate revenue growth and deliver sustained value [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet and exceed expectations in 2026, citing strong adoption momentum and an engaged pipeline [22][28] - The company believes that the fourth quarter and full year of 2025 served as a pivotal inflection point, delivering meaningful progress across key priorities [14] Other Important Information - The company ended the quarter with $3.8 million in cash and cash equivalents, compared to $6.5 million as of December 31, 2024, and had no outstanding debt [12] - Subsequent to the quarter end, the company closed a $4.3 million private placement of senior convertible notes to fund commercial expansion and clinical priorities [12][6] Q&A Session Summary Question: What is the outlook for operating expenses in 2026? - Management indicated that the Q4 operating expense rate of $3.9 million is a better baseline moving forward into 2026, with some higher integration costs falling out [16][17] Question: How does the company view revenue growth for 2026? - Management expressed excitement about the adoption momentum and the impact of new product launches, indicating confidence in meeting revenue expectations [21][25] Question: What are the key drivers for revenue growth in 2026? - Management highlighted the multi-product portfolio and the ability to address various patient needs as key drivers for revenue growth, emphasizing commercial expansion and execution [28][27] Question: How is the launch of SImmetry+ impacting access to physicians? - Management noted that the broader portfolio allows for multiple solutions, opening doors to more prospective physicians and medical centers [33][34]

Financial Data and Key Metrics Changes - The company achieved record full-year revenue of $3.9 million, a 20% increase compared to 2024, with fourth quarter revenue of $1.5 million, representing a 92% increase over the prior year period [3][9] - Gross profit for the fourth quarter was $1 million or 69% of revenue, compared to $0.4 million or 46% of revenue in the prior-year quarter, marking a 188% increase and a 23 percentage point improvement in gross margin [10] - Operating expenses totaled $3.9 million for the fourth quarter of 2025, up from $3.5 million in the prior year quarter, while for the full year, operating expenses totaled $15.2 million, compared to $15.5 million in the prior year period [11][12] Business Line Data and Key Metrics Changes - Revenue growth was primarily driven by an increase in surgical procedures across both the Catamaran and SImmetry+ platforms, particularly in the second half of 2025, led by new physician users [3][9] - The company hosted 24 physicians in targeted training sessions for both platforms during the fourth quarter, supporting clinical engagement and adoption [4] Market Data and Key Metrics Changes - The company received FDA 510(k) clearance for the next generation SImmetry+ SI joint fusion system, enhancing its ability to serve a broader range of surgeon preferences and patient anatomies [4][7] - The company expanded its intellectual property portfolio, receiving notices of allowance for multiple applications expected to issue in 2026, bringing its global estate to 29 issued U.S. patents and 31 pending applications [7] Company Strategy and Development Direction - The company is committed to advancing its market position with increased adoption across its expanding portfolio, leveraging regulatory and market momentum to drive broader commercial uptake [8] - The focus is on optimizing the cost structure and scaling operations to extend market reach more efficiently, with plans to accelerate revenue growth and deliver sustained value [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet and exceed expectations in 2026, citing strong adoption momentum and an engaged pipeline of products [22][28] - The company aims to address various patient needs and physician preferences with a multi-product portfolio, enhancing its competitive position in the market [33] Other Important Information - The company strengthened its financial position through a $2.85 million PIPE financing and a subsequent private placement of senior convertible notes for gross proceeds of $4.3 million, providing additional runway for commercial and clinical priorities [5][12] Q&A Session Summary Question: How representative is the Q4 operating expense rate for 2026? - Management indicated that the Q4 rate of $3.9 million is a better baseline moving forward into 2026, with some higher integration costs falling out in Q4 [17][18] Question: What is the revenue outlook for 2026 relative to the $6 million run rate? - Management expressed excitement about adoption momentum and the impact of new product launches on revenue growth in 2026, although they do not provide specific projections [19][21][25] Question: What are the key drivers for revenue growth in 2026? - Management highlighted the multi-product portfolio and the commercial expansion as key drivers, with a focus on addressing various patient and physician needs [27][28] Question: How is the launch of SImmetry+ impacting access to physicians? - Management noted that the broader portfolio allows for multiple solutions, opening doors to more physicians and medical centers, with positive feedback on the SImmetry+ technology [32][34]

Financial Data and Key Metrics Changes - The company achieved record full-year revenue of $3.9 million, a 20% increase compared to 2024, with fourth quarter revenue of $1.5 million, representing a 92% increase over the prior year period [3][9] - Gross profit for the fourth quarter was $1 million, or 69% of revenue, compared to $0.4 million, or 46% of revenue in the prior-year quarter, marking a 188% increase and a 23 percentage point improvement in gross margin [10] - Operating expenses totaled $3.9 million for the fourth quarter, up from $3.5 million in the prior year quarter, while for the full year, operating expenses totaled $15.2 million, compared to $15.5 million in the prior year period [11][12] Business Line Data and Key Metrics Changes - Revenue growth was primarily driven by an increase in surgical procedures across both the Catamaran and SImmetry+ platforms, particularly in the second half of 2025, led by new physician users [3][9] - The company hosted 24 physicians in targeted training sessions for both platforms during the fourth quarter, supporting clinical engagement [4] Market Data and Key Metrics Changes - The company received FDA 510(k) clearance for the next generation SImmetry+ SI joint fusion system, enhancing its ability to serve a broader range of surgeon preferences and patient anatomies [4][8] - The company expanded its intellectual property portfolio, receiving notices of allowance for multiple applications expected to issue in 2026, bringing its global estate to 29 issued U.S. patents and 31 pending applications [7] Company Strategy and Development Direction - The company is focused on advancing its market position with increased adoption across its expanding portfolio, leveraging regulatory and market momentum to drive broader commercial uptake [8] - The company aims to optimize its cost structure and scale operations to extend market reach more efficiently, with plans to accelerate revenue growth and deliver sustained value [8][13] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to meet and exceed expectations in 2026, citing strong adoption momentum and an engaged pipeline [22][24] - The company believes that its multi-product portfolio will address various physician and patient needs, enhancing its competitive position in the market [30] Other Important Information - The company strengthened its balance sheet through a $2.85 million PIPE financing and a subsequent private placement of senior convertible notes for gross proceeds of $4.3 million, providing additional runway for commercial and clinical priorities [5][12] Q&A Session Summary Question: How representative is the Q4 operating expense rate for 2026? - Management indicated that the Q4 operating expense of $3.9 million is a better baseline moving forward into 2026, with some higher integration costs falling out in Q4 [18][19] Question: What is the revenue outlook for 2026? - Management did not provide specific projections but expressed excitement about adoption momentum and the impact of new product launches on revenue growth [22][24][28] Question: What are the key drivers for revenue growth in 2026? - Management highlighted the multi-product portfolio and the commercial expansion as key drivers for revenue growth, with a focus on addressing various physician needs [30][39]

Revenue Performance - Tenon Medical, Inc. reported unaudited revenue for Q4 2025 of $1.45 to $1.48 million, representing a 90% year-over-year increase compared to Q4 2024[4] - For the fiscal year 2025, the company reported unaudited revenue of $3.91 to $3.94 million, reflecting a 20% year-over-year increase compared to fiscal year 2024[4] Future Financial Reporting - The company plans to release detailed financial results for Q4 and full year 2025 on March 19, 2026, after market close[5]

Tenon(R) Medical Reports Fourth Quarter and Full Year 2025 Financial Results ELEMENT-- Back to the Newsroom Tenon(R) Medical Reports Fourth Quarter and Full Year 2025 Financial Results ~ Fourth Quarter 2025 Revenue of $1.5 Million, a 92% Increase Compared to Prior Year ~ ~ Record Full Year 2025 Revenue of $3.9 Million, a 20% Increase compared to Prior Year, Driven by Strong Second Half Momentum ~ ~ Record Full Year 2025 Gross Profit of $2.4 Million, a 38% Increase Compared to Prior Year ~ ~ Secured FDA 510( ...

Core Viewpoint - Tenon Medical, Inc. has successfully closed a private placement of senior convertible promissory notes, raising gross proceeds of $4.3 million to support its business operations and growth initiatives [1] Financial Details - The offering consists of notes with a principal amount of $4.3 million, featuring a 20% original issue discount and a maturity date set for September 11, 2026 [1] - The notes are convertible into shares of the company's common stock at a conversion price equal to 80% of the volume-weighted average price (VWAP) for the three trading days prior to conversion [1] Use of Proceeds - The net proceeds from the offering are intended for commercial expansion, product development, clinical studies, working capital, and general corporate purposes [1] Company Overview - Tenon Medical, Inc. is a medical device company established in 2012, known for its Catamaran SI Joint Fusion System, which offers a less invasive approach to treating sacro-pelvic disorders [1] - The Catamaran system utilizes a single titanium implant designed to stabilize the sacroiliac joint while avoiding critical neural and vascular structures [1] - Since its national launch in October 2022, the company is focusing on three commercial opportunities: primary SI joint procedures, revision procedures of failed implants, and augmenting spinal fusion [1]

Core Viewpoint - Tenon Medical, Inc. is enhancing its competitive position and supporting its long-term growth strategy through a strategic expansion of its U.S. intellectual property portfolio, following the receipt of Notices of Allowance for multiple patent applications expected to issue in 2026 [1] Group 1: Intellectual Property Expansion - The company has received Notices of Allowance from the United States Patent and Trademark Office (USPTO) for multiple patent applications [1] - This expansion will strengthen the company's growing patent portfolio, building upon the ten patents issued in 2025, which includes five issued by the USPTO and five issued internationally [1]

Core Insights - Tenon Medical, Inc. has successfully completed the first clinical procedures using its new SImmetry+ SI Joint Fusion System, marking a significant milestone in advancing treatment for sacro-pelvic disorders [1][5] - The SImmetry+ system is designed to provide a minimally invasive solution for SI joint fusion, incorporating 3D-printed titanium implants and established orthopedic fusion principles [2][4] - Initial use of the SImmetry+ system is part of a controlled early-access rollout, with feedback from experienced physicians to support broader commercial launch readiness [3][5] Product Overview - The SImmetry+ SI Joint Fusion System features a self-drilling, self-tapping, and self-harvesting design, allowing for flexible implantation with one to three implants based on patient needs [2] - Clinical evidence from the EvoluSIon study indicates a strong safety profile, with 68.7% of patients achieving radiographic fusion at 12 months and a 57.1% reduction in pre-operative opioid use [4] Strategic Positioning - The SImmetry+ system, along with the Catamaran SI Joint Fusion System, positions Tenon Medical with a multi-approach portfolio in the expanding sacro-pelvic market, enhancing its competitive advantage [5][6] - The company aims to customize treatment plans for patients through its innovative technologies, which are supported by robust clinical evidence [6] Company Background - Tenon Medical, Inc. was established in 2012 and has developed the Catamaran SI Joint Fusion System, which offers a less invasive approach to SI joint stabilization [7] - The company focuses on three commercial opportunities within the SI joint market: primary procedures, revision procedures, and augmenting spinal fusion [7]

Financial Data and Key Metrics Changes - The company achieved record revenue of $1.2 million in Q3 2025, a 32% increase compared to $0.9 million in the same period last year [3][12] - Gross profit for Q3 2025 was $0.8 million, or 66% of revenue, compared to $0.4 million, or 47% in the prior year quarter [13] - The net loss for Q3 2025 was $3.3 million, or $0.40 per share, compared to a net loss of $3.2 million, or $3.63 per share, in Q3 2024 [15] Business Line Data and Key Metrics Changes - The increase in revenue was primarily driven by a rise in Cadmium procedure volumes and the addition of sales from the newly acquired Symmetry SI Joint Fusion System [12] - The company reported over 1,000 Cadmium devices implanted to date, demonstrating strong clinical performance across various indications [6] Market Data and Key Metrics Changes - The demand for both Cadmium and Symmetry products increased throughout Q3 2025 and has continued into Q4 2025 [12] - The company hosted 26 physicians in various workshops to enhance physician education and engagement [10] Company Strategy and Development Direction - The strategic asset acquisition of CyVantage's Symmetry technologies marks a pivotal milestone, transforming the company into a multi-product entity capable of addressing a broader spectrum of sacral pelvic fixation and fusion needs [4] - The company is focused on expanding its product portfolio and leveraging recent regulatory and clinical milestones to support commercial growth [10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive long-term value for patients, providers, and shareholders, citing strong execution across strategic priorities [18] - The company is actively onboarding sales professionals and expanding its commercial footprint, which is expected to build momentum into Q4 2025 [11] Other Important Information - The company ended Q3 2025 with $3.4 million in cash and no debt, and subsequently raised an additional $2.85 million through pipe financing [10][16] - The FDA granted 510(k) clearance for the Symmetry Plus SI joint fusion system, expanding the company's portfolio and competitive position [8] Q&A Session Summary Question: How much of the $1.2 million in product revenues was from base Cyvanage revenues? - The company had two months of Cyvanage product contribution, with approximately $1.1 million in Cadmium revenue and the rest from early Symmetry activity [20] Question: Will Cadmium grow sequentially from Q3 to Q4 2025? - The company expects Cadmium activity to continue growing, driven by positive data from the Mainsail study and the additional month of CyVantage activity in Q4 [21] Question: How will the Symmetry Plus alpha launch evolve over the next 6 to 12 months? - The alpha launch will start with a small group of physicians for feedback before expanding to a broader audience [23] Question: What are the expectations for G&A expenses moving forward? - G&A expenses in Q3 included some one-time integration costs, but future expenses are expected to be closer to the Q3 figure [24] Question: How is the integration of Cyvanage progressing? - The integration is largely complete, with a focus on launching Symmetry Plus and integrating customer bases [30] Question: What is the strategy for adding commercial sales professionals? - The company is committed to a hybrid commercial structure, with salespeople trained across all products to provide comprehensive solutions to physicians [35]