Financial & Operational Highlights TELA Bio reported strong Q2 2025 results with 26% revenue growth, appointed a new President, expanded European presence, and reiterated full-year guidance Q2 2025 Key Metrics and FY 2025 Guidance | Metric | Q2 2025 Result ($ million) | YoY Growth (%) | FY 2025 Guidance ($ million) | | :--- | :--- | :--- | :--- | | Revenue | $20.2 | 26 | $85.0 - $88.0 | | OviTex Revenue Growth | ~12 | - | - | | OviTex PRS Revenue Growth | ~53 | - | - | - Appointed Jeffrey Blizard as President, effective June 2025, to strengthen commercial leadership and drive sales execution6 - Announced the European commercial launch of OviTex Inguinal for robotic and laparoscopic inguinal hernia repair, expanding the company's European footprint6 - Management expressed excitement about transformative opportunities, citing an innovative product portfolio, compelling clinical data, and a refined sales approach under new leadership4 Second Quarter 2025 Financial Performance TELA Bio's Q2 2025 revenue grew 26% to $20.2 million, with improved gross margin and significantly reduced operating and net losses, demonstrating enhanced efficiency Revenue Analysis Q2 2025 revenue increased 26% year-over-year to $20.2 million, driven by new customers, international expansion, and a new OviTex PRS configuration, partially offset by product mix shifts Q2 Revenue Performance | Metric | Q2 2025 ($ million) | Q2 2024 ($ million) | YoY Growth (%) | | :--- | :--- | :--- | :--- | | Total Revenue | $20.2 | $16.1 | 26 | - Primary growth drivers included an increase in unit sales from new customers, growing international sales, and the U.S. launch of a new OviTex PRS configuration5 - Growth was partially offset by a decrease in average selling prices for hernia products due to a product mix shift towards smaller, robotically compatible units5 Profitability Analysis Gross profit increased to $14.1 million with a 69.8% margin, primarily due to lower inventory charges, leading to reduced operating and net losses of $9.1 million and $9.9 million respectively Q2 2025 vs Q2 2024 Profitability (in millions) | Metric | Q2 2025 ($ million) | Q2 2024 ($ million) | | :--- | :--- | :--- | | Gross Profit | $14.1 | $11.1 | | Gross Margin | 69.8% | 68.8% | | Operating Expenses | $23.2 | $22.6 | | Loss from Operations | $(9.1) | $(11.6) | | Net Loss | $(9.9) | $(12.6) | - The increase in gross margin was primarily due to a lower charge for excess and obsolete inventory as a percentage of revenue7 - Operating expenses increased due to higher commission costs and professional fees, partially offset by lower compensation from a reduced headcount8 Financial Position As of June 30, 2025, TELA Bio maintained a cash and cash equivalents balance of $35.0 million - Cash and cash equivalents totaled $35.0 million on June 30, 202510 Full Year 2025 Financial Guidance TELA Bio reiterated its full-year 2025 revenue guidance, projecting $85.0 million to $88.0 million, representing 23% to 27% year-over-year growth Full Year 2025 Revenue Guidance | Metric | Guidance Range ($ million) | YoY Growth (%) | | :--- | :--- | :--- | | Revenue | $85.0 - $88.0 | 23 - 27 | Financial Statements This section presents the unaudited consolidated financial statements for Q2 2025, including Balance Sheets and Statements of Operations, detailing the company's financial status and performance Consolidated Balance Sheets As of June 30, 2025, total assets were $67.5 million, liabilities $58.4 million, cash $35.0 million, and stockholders' equity $9.2 million, reflecting changes from year-end 2024 Key Balance Sheet Items (in thousands) | Account | June 30, 2025 (in thousands) | December 31, 2024 (in thousands) | | :--- | :--- | :--- | | Cash and cash equivalents | $34,977 | $52,670 | | Total assets | $67,537 | $86,570 | | Total liabilities | $58,353 | $58,112 | | Total stockholders' equity | $9,184 | $28,458 | Consolidated Statements of Operations Q2 2025 revenue reached $20.2 million with a net loss of $9.9 million, or ($0.22) per share, an improvement from the prior year, and six-month revenue totaled $38.7 million with a $21.2 million net loss Q2 Statement of Operations Highlights (in thousands, except per share data) | Metric | Q2 2025 (in thousands) | Q2 2024 (in thousands) | | :--- | :--- | :--- | | Revenue | $20,197 | $16,091 | | Gross Profit | $14,105 | $11,073 | | Loss from Operations | $(9,081) | $(11,570) | | Net Loss | $(9,923) | $(12,600) | | Net Loss per Share | $(0.22) | $(0.51) | Six Months Ended June 30 Highlights (in thousands) | Metric | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Revenue | $38,717 | $32,694 | | Net Loss | $(21,187) | $(18,261) | Supplementary Information This section provides details on the upcoming investor conference call, a corporate overview of TELA Bio, and standard legal disclaimers regarding forward-looking statements Conference Call Information TELA Bio will host a conference call on August 11, 2025, at 4:30 p.m. Eastern Time to discuss its second quarter financial results, requiring online registration - A conference call to discuss Q2 financial results is scheduled for 4:30 p.m. Eastern Time on Monday, August 11, 202512 About TELA Bio, Inc. TELA Bio is a commercial-stage medical technology company focused on innovative and economically effective soft-tissue reconstruction solutions - TELA Bio (NASDAQ: TELA) is a commercial-stage medical technology company specializing in innovative soft-tissue reconstruction solutions13 Forward-Looking Statements This section cautions on forward-looking statements, including 2025 revenue guidance, highlighting risks such as macroeconomic conditions, market acceptance, and competition that could affect actual results - The press release contains forward-looking statements, including revenue guidance for 2025, which are subject to risks and uncertainties14 - Key risks include macroeconomic conditions, demand for products, ability to achieve profitability, market acceptance, competition, and product development challenges14
TELA Bio(TELA) - 2025 Q2 - Quarterly Results