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Tenon(R) Medical Reports Fourth Quarter and Full Year 2025 Financial Results

  • Tenon Medical reported fourth quarter 2025 revenue of $1.5 million, a 92% increase compared to $0.8 million in the prior year quarter.
  • Full year 2025 revenue reached a record $3.9 million, representing a 20% increase over $3.3 million in 2024.
  • Fourth quarter 2025 gross profit was $1.0 million (69% margin), up 188% from $0.4 million (46% margin) in the prior year quarter.
  • Full year 2025 gross profit totaled $2.4 million, a 38% increase over $1.7 million in 2024, with the annual gross margin improving to 60%.
  • The Company secured FDA 510(k) clearance for its next-generation SImmetry®+ SI Joint Fusion System, expanding its product portfolio to include a lateral approach.
  • Initial SImmetry®+ procedures were completed at Centers of Excellence, supporting early surgeon adoption & commercial rollout.
  • Tenon completed a $2.85 million At-The-Market PIPE financing in Q4 2025 & announced a subsequent $4.3 million senior convertible notes offering in March 2026.
  • Operating expenses totaled $3.9 million in Q4 2025 & $15.2 million for the full year 2025, with the annual decrease driven by reduced general & administrative expenses.
  • Net loss for Q4 2025 was $2.8 million ($0.29 per share), improving from $3.1 million ($0.98 per share) in the prior year quarter.
  • Full year 2025 net loss was $12.6 million ($1.70 per share), down from $13.7 million ($11.26 per share) in 2024.
  • Cash & cash equivalents stood at $3.8 million as of December 31, 2025, compared to $6.5 million in 2024, with no outstanding debt.
  • The Company received multiple Notices of Allowance, bringing its total intellectual property portfolio to 29 issued U.S. patents, 9 international patents, & 31 pending applications.
  • Tenon hosted 24 physicians in targeted training sessions for its Catamaran® & SImmetry® systems during the fourth quarter.