TELA Bio(US:TELA) Globenewswireยท2025-03-20 20:05Core Viewpoint - TELA Bio, Inc. reported a 19% revenue growth for 2024, despite fourth-quarter results falling short of expectations due to various disruptions. The company remains optimistic about future growth driven by its innovative products and market trends away from permanent synthetic materials in hernia repair and reconstructive surgery [3]. Financial Performance - Fourth quarter 2024 revenue was $17.6 million, a 4% increase from Q4 2023, attributed to higher unit sales and new customer additions, although offset by lower average selling prices due to a shift in product mix [4][9]. - Gross profit for Q4 2024 was $11.2 million, representing 64% of revenue, down from 68% in Q4 2023, primarily due to higher expenses related to obsolete inventory adjustments [5][10]. - Operating expenses decreased to $19.6 million in Q4 2024 from $23.9 million in Q4 2023, leading to a reduced loss from operations of $8.4 million compared to $12.3 million in the prior year [6][11]. - The net loss for Q4 2024 was $9.2 million, an improvement from a net loss of $12.9 million in Q4 2023 [7][12]. Annual Overview - For the full year 2024, revenue reached $69.3 million, a 19% increase from 2023, driven by a 33% increase in unit sales of OviTex products [8][10]. - Gross profit for the full year was $46.5 million, or 67% of revenue, slightly down from 69% in 2023 due to similar inventory expense issues [10]. - Operating expenses for 2024 totaled $88.2 million, up from $84.2 million in 2023, with a loss from operations of $34.1 million, improved from a loss of $44.1 million in the previous year [11]. - The net loss for the full year was $37.8 million, compared to a net loss of $46.7 million in 2023 [12]. Future Guidance - TELA Bio projects 2025 revenue between $85.0 million and $88.0 million, indicating a year-over-year growth of 23% to 27% [17]. - First quarter 2025 revenue is expected to range from $17.0 million to $18.0 million, reflecting a growth of 2% to 8% compared to Q1 2024 [17]. - Operating expenses for 2025 are anticipated to remain flat compared to 2024 [17].