Tenon Medical sees Q4 revenue $1.45M-$1.48M, up 90% y/y

Tenon Medical (TNON) issued a letter to shareholders from Steve Foster, President and CEO, which read in part, “2025 was marked by strong commercial execution as we advanced innovation and expanded our differentiated solutions in the marketplace. We delivered both sequential and year over year revenue growth and strengthened our liquidity position, placing Tenon on firmer financial footing heading into 2026. Our expanding product portfolio-driven by the acquisition of sacroiliac joint-specific assets from SiVantage and the recent FDA clearance and commercialization of the SImmetry+ SI Joint Fusion System-positions us to scale revenue and address a broader range of sacro-pelvic fixation and fusion needs. Entering 2026, we have laid a strong foundation for sustained growth through portfolio diversification, commercial expansion, and improved operational alignment. Following record revenue growth in the third quarter, the Company is reporting preliminary, unaudited fourth quarter revenue of approximately $1.45 to $1.48M for the period ended December 31, 2025, representing approximately 90% growth compared to the fourth quarter ended December 31, 2024. Preliminary unaudited full year 2025 revenue is expected to be approximately $3.91 to $3.94M, representing approximately 20% year over year growth. Revenue acceleration in the second half of 2025 was driven by strong procedural volume momentum, which we expect to continue into 2026. This momentum was primarily fueled by adoption among new physician users of both the Catamaran and SImmetry+ systems. These revenue results are preliminary and subject to adjustment upon completion of customary year-end audit procedures. The Company expects to report fourth-quarter and full-year 2025 financial results in March 2026…We believe 2026 will be a milestone year for Tenon, supported by a multi-platform sacro-pelvic fusion strategy that meaningfully strengthens our competitive position and enables physicians to tailor treatment to individual patient anatomy and pathology. This differentiated approach enhances our ability to drive adoption, increase procedure volumes, and capture a greater share of a rapidly expanding market, supporting long-term value creation for our shareholders. Looking ahead, we remain focused on accelerating adoption across our expanded product portfolio and leveraging recent regulatory and clinical milestones to support continued commercial growth. With a strong foundation in place, we are confident in our ability to scale operations, deepen market penetration, and deliver sustained value to our shareholders in the years ahead.”