Workflow
TELA Bio(TELA) - 2024 Q4 - Annual Results
TELATELA Bio(TELA)2025-03-20 20:15

Revenue Performance - Revenue for Q4 2024 was 17.6million,a417.6 million, a 4% increase compared to Q4 2023, while full year revenue reached 69.3 million, representing a 19% growth year-over-year[5][10] - Full year 2025 revenue guidance is projected between 85.0millionand85.0 million and 88.0 million, indicating a year-over-year growth of 23% to 27%[19] Product Sales - Unit sales for OviTex and OviTex PRS products grew approximately 33% and 31% respectively during 2024, driven by increased demand[6] - The launch of OviTex IHR Reinforced Tissue Matrix resulted in over 1,200 units sold in 2024 since its introduction in mid-April[6] Profitability and Expenses - Gross profit for Q4 2024 was 11.2million,or6411.2 million, or 64% of revenue, down from 68% in Q4 2023, primarily due to higher expenses for excess and obsolete inventory[7] - Operating expenses decreased to 19.6 million in Q4 2024 from 23.9millioninQ42023,reflectingefficiencyefforts[8]−ThenetlossforQ42024was23.9 million in Q4 2023, reflecting efficiency efforts[8] - The net loss for Q4 2024 was 9.2 million, an improvement from a net loss of 12.9millioninQ42023[9]−Thecompanyaimstomaintain2025operatingexpensesatthesamelevelasin2024[6]MarketOutlook−TheoverallmarketopportunityforTELABioremainsstrong,withexpectationsforcontinuedgrowthintheherniarepairmarket[4]CashPosition−CashandcashequivalentsasofDecember31,2024,totaled12.9 million in Q4 2023[9] - The company aims to maintain 2025 operating expenses at the same level as in 2024[6] Market Outlook - The overall market opportunity for TELA Bio remains strong, with expectations for continued growth in the hernia repair market[4] Cash Position - Cash and cash equivalents as of December 31, 2024, totaled 52.7 million, up from $46.7 million in 2023[14]