TELA Bio, Inc.

Listed Company

TELACIK 0001561921NasdaqNon-AcceleratedSmaller ReportingSurgical & Medical Instruments & ApparatusDelawareFY ends Dec 31

Period

FY 2025

Revenue

$80.28M

Net Income

$-38.83M

Total Assets

$81.42M

Equity

$6.31M

Shares Out

44.74M

Op. Cash Flow

$-28.22M

Business

TELA Bio, Inc. is a commercial-stage medical technology company that develops reinforced tissue matrices for soft-tissue reconstruction, emphasizing preservation and restoration of patients’ own anatomy. Its main products are the OviTex and OviTex PRS reinforced tissue matrices—biologic ovine rumen materials embroidered with polymer fibers—designed for hernia repair, abdominal wall reconstruction, and plastic and reconstructive surgery. The company’s business is organized around product portfolios for hernia and plastic/reconstructive indications, clinical research programs, intellectual property and manufacturing partnerships. It primarily markets through a U.S. direct sales force with limited European presence and leverages distributors, independent contractors, GPOs and IDNs for hospital and surgical channel distribution.

Summary from filing dated 2025-03-21

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	80	69	58	41	29
Cost of revenue (excluding amortization of intangible assets)	26	22	18	14	10
Amortization of intangible assets	400,000	400,000	400,000	800,000	300,000
Gross profit	54	46	40	27	19
Sales and marketing	63	65	60	43	29
General and administrative	16	15	15	14	12
Research and development	9	9	10	9	7
Total operating expenses	88	88	84	66	48
Gain on sale of product line	—	8	—	—	—
Loss from operations	−34	−34	−44	−39	−29
Interest expense	−5	−5	−5	−4	—
Loss on extinguishment of debt	−888,000	—	—	−1	—
Other income	1	1	3	−10,000	−228,000
Total other expense, net	−5	−4	−3	−5	−4
Loss before income tax (expense) benefit	−39	−38	−47	−44	—
Income tax (expense) benefit	−230,000	144,000	—	—	—
Net loss	−39	−38	−47	−44	−33
Net loss per common share, basic (in dollars per share)	−0.83	−1.33	−2.04	−2.72	−2.3
Net loss per common share, diluted (in dollars per share)	−0.83	−1.33	−2.04	−2.72	−2.3
Weighted average common shares outstanding, basic (in shares)	47	29	23	16	14
Weighted average common shares outstanding, diluted (in shares)	47	29	23	16	14
Foreign currency translation adjustment	1,000	−1,000	−59,000	202,000	19,000
Comprehensive loss	−39	−38	−47	−44	−33

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	51	53	47	42	44
Accounts receivable, net of allowances of $287 and $275	10	10	10	7	4
Inventory	11	13	13	12	8
Prepaid expenses and other current assets	3	3	2	2	3
Total current assets	76	78	72	62	59
Property and equipment, net	2	2	2	2	1
Intangible assets, net	1	2	2	2	2
Right-of-use assets	2	2	2	1	—
Other long-term assets	500,000	2	—	—	—
Deferred tax asset, net	—	140,000	—	—	—
Restricted cash	250,000	265,000	265,000	—	—
Total assets	81	87	78	68	63
Accounts payable	2	2	2	2	2
Accrued expenses and other current liabilities	16	13	15	11	8
Total current liabilities	18	16	17	12	11
Long-term debt	56	41	41	40	—
Other long-term liabilities	1	1	2	1	380,000
Total liabilities	75	58	59	54	42
Commitments and contingencies (Note 12)	—	—	—	—	—
Preferred stock; $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding	—	—	—	—	—
Common stock; $0.001 par value: 200,000,000 shares authorized; 44,538,264 and 39,395,712 shares issued and outstanding at December 31, 2025 and 2024, respectively	44,000	39,000	24,000	19,000	15,000
Additional paid-in capital	404	387	340	288	250
Accumulated other comprehensive income	91,000	90,000	91,000	150,000	−52,000
Accumulated deficit	−398	−359	−321	−274	−230
Total stockholders' equity	6	28	19	14	20
Total liabilities and stockholders' equity	81	87	78	68	63

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net loss	−39	−38	−47	−44	−33
Depreciation expense	600,000	600,000	400,000	400,000	200,000
Noncash interest expense	529,000	609,000	599,000	657,000	664,000
Noncash loss on extinguishment of debt	888,000	—	—	1	—
Net changes in operating lease ROU assets and liabilities	302,000	−99,000	−49,000	−36,000	—
Inventory excess and obsolescence charge	2	3	1	2	1
Stock-based compensation expense	4	4	5	4	4
Gain on disposal of fixed assets	—	—	−12,000	—	2,000
Accounts receivable, net	−110,000	−762,000	−3	−2	−2
Inventory	−503,000	−3	−3	−6	−5
Prepaid expenses and other current and long-term assets	133,000	227,000	−81,000	1	−992,000
Accounts payable	141,000	482,000	11,000	−884,000	2
Accrued expenses and other current and long-term liabilities	2	−2	4	2	3
Foreign currency transaction loss	76,000	−35,000	−316,000	420,000	12,000
Net cash used in operating activities	−28	−42	−41	−41	−30
Purchase of property and equipment	−448,000	−989,000	−611,000	−872,000	−627,000
Proceeds from the sale of product line	1	5	—	—	—
Proceeds from the sale of property and equipment	—	—	12,000	—	—
Net cash provided by (used in) investing activities	846,000	4	−599,000	−2	−627,000
Proceeds from sale of common stock and pre-funded warrants, net	12	43	46	34	—
Proceeds from issuance of long-term debt and warrants	60	—	—	—	—
Repayment of long-term debt	−42	—	—	−30	—
Payment of debt financing costs	−4	—	—	−3	—
Proceeds from exercise of stock options	1,000	226,000	127,000	19,000	547,000
Payment of withholding taxes related to stock-based compensation to employees	−205,000	−369,000	−289,000	−157,000	—
Proceeds from issuance of common stock under the employee stock purchase plan	105,000	281,000	88,000	50,000	38,000
Net cash provided by financing activities	26	43	46	41	585,000
Effect of exchange rate on cash and cash equivalents	−217,000	28,000	164,000	−144,000	11,000
Net (decrease) increase in cash and cash equivalents and restricted cash	−2	6	5	−2	−30
Cash paid during the period for interest	5	4	5	3	3
Property and equipment in accounts payable and accrued expenses and other current liabilities	66,000	—	119,000	7,000	166,000
Operating lease ROU asset exchanged for operating lease liabilities	—	—	895,000	1	—
Offering costs in accrued expenses and other current liabilities	247,000	—	—	—	—
Issuance of common stock warrants in connection with credit facility	1	—	—	—	—

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