Tela Bio, Inc. ( (TELA) ) has released its Q4 earnings. Here is a breakdown of the information Tela Bio, Inc. presented to its investors.
TELA Bio, Inc. is a commercial-stage medical technology company that specializes in innovative soft-tissue reconstruction solutions, focusing on optimizing clinical outcomes while minimizing long-term exposure to synthetic materials.
In its latest earnings report, TELA Bio announced a 19% revenue growth for the full year 2024, reaching $69.3 million, despite facing some disruptions in the fourth quarter. The company also provided a positive revenue guidance for 2025, projecting a growth rate of 23% to 27%.
Key financial highlights include a fourth-quarter revenue of $17.6 million, a 4% increase from the previous year, driven by increased unit sales and international expansion. However, the gross profit margin decreased slightly due to higher expenses related to inventory adjustments. The company also reported a reduction in operating expenses, resulting in a narrowed net loss of $9.2 million for the fourth quarter.
For the full year 2024, TELA Bio’s net loss was $37.8 million, an improvement from the $46.7 million loss in 2023. The company attributes its revenue growth to the successful launch and adoption of new products, such as the OviTex IHR Reinforced Tissue Matrix, which has gained traction in hernia procedures.
Looking ahead, TELA Bio remains optimistic about its growth prospects, with plans to maintain operating expenses at 2024 levels while capturing additional market share. The management is confident in the company’s ability to restore topline growth and progress towards profitability.