TELA Bio(US:TELA)2025-03-20 20:15Revenue Performance - Revenue for Q4 2024 was $17.6 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 $85.0 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 $11.2 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 $23.9 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 $12.9 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]