Financial Data and Key Metrics Changes - Revenue for the full year 2024 increased by 12% to $3.3 million compared to $2.9 million in 2023 [6][19] - Gross margin improved by 10 percentage points to 52% for the full year 2024, up from 42% in the prior year [7][22] - Fourth quarter revenue decreased by 4.7% to $770,000 compared to $808,000 in the fourth quarter of 2023 [19][20] - Net loss for the fourth quarter of 2024 was $3.1 million, flat compared to the same period in 2023, while the annual net loss decreased to $13.7 million from $15.6 million [24][25] Business Line Data and Key Metrics Changes - The number of surgical procedures using the Catamaran System showed a slight decrease in the fourth quarter, impacting revenue [20][21] - The alpha clinical review of the Catamaran SE platform was completed, with a full commercial launch expected in mid-2025 [8][9] Market Data and Key Metrics Changes - The reimbursement landscape remains challenging, with delays in pre-authorization impacting the number of procedures performed [19][33] - The company is actively working with decision-makers to improve clarity in the reimbursement environment [32][34] Company Strategy and Development Direction - The company is focused on expanding its sales force and enhancing market access efforts to drive revenue growth [21][37] - Investments are being made in the Catamaran SE platform and the MAINSAIL prospective study to support future growth [18][25] Management's Comments on Operating Environment and Future Outlook - Management anticipates that improvements in reimbursement clarity will positively impact future operations [33] - The company expects to incur additional losses in the future but is optimistic about improving its net loss over time [24][25] Other Important Information - The company received three U.S. patents related to the Catamaran portfolio during the fourth quarter, enhancing its competitive position [10][11] - The Catamaran SI Joint Fusion System's intellectual property portfolio now includes 12 issued patents and 23 pending applications [11] Q&A Session Summary Question: Any improvement in the reimbursement landscape? - Management noted that while they do not control the reimbursement environment, significant progress is being made towards clarity in the space [32][33] Question: Plans for sales perspective in 2025? - The company has made significant additions to its sales organization and anticipates increased coverage in key geographies [36][37] Question: How many independent distributors are currently engaged? - There are 42 existing independent distributor contracts, with varying sizes of distributorships [41][42]

As filed with the Securities and Exchange Commission on August 14, 2024 Registration No. 333- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Tenon Medical, Inc. (Exact name of registrant as specified in its charter) (State or Other Jurisdiction of Incorporation or Organization) (Primary Standard Industrial Classification Code Number) Delaware 3841 45-5574718 (I.R.S. Employer Identification No.) 104 Cooper Court Los Gat ...