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TELA Bio Reports Third Quarter 2026 Financial Results

TELA
  • TELA Bio, Inc. reported third-quarter 2026 revenue of $19.0 million, an 8% decrease year-over-year but with international revenue up 18%.
  • Sequential operating loss decreased by 21% ($2.0 million) to $7.3 million, while Adjusted EBITDA loss dropped 55% ($4.3 million) to $3.4 million.
  • The company implemented a strategic cost reduction initiative aimed at cutting $17.0 million in annual operating expenses to extend its cash runway into 2028.
  • TELA Bio regained compliance with Nasdaq's minimum bid price requirement for continued listing on the Nasdaq Global Market.
  • Regulatory approval was received in the form of 510(k) clearance for the Liora Monofilament Scaffold for soft tissue reinforcement.
  • Four peer-reviewed clinical results were announced demonstrating favorable outcomes for OviTex and OviTex PRS compared to gold standard alternatives.
  • GAAP net loss for the quarter was $9.3 million ($0.16 per share), while adjusted net loss was $7.3 million ($0.13 per share).
  • Cash and cash equivalents totaled $22.7 million as of September 30, 2026, down from $50.8 million at the end of 2025 due to new debt obligations.
  • Gross margin was 64.9% on a GAAP basis but adjusted to 71% after excluding $1.1 million in noncash charges related to inventory obsolescence.
  • Total operating expenses excluding other expenses fell 17.5% to $17.6 million, driven by reduced sales and marketing costs and severance expenses from the cost reduction initiative.
  • The company held a conference call on November 10, 2026, to discuss these results and its long-term strategy under new CEO Heather Getz.
Company
Tela Bio Inc
Keywords
Nasdaq:TELA, Tela Bio Inc