Earnings Releases·Nov 10, 2026, 4:04 PM ET

TELA Bio — Third Quarter 2026 Earnings Summary

Revenue declined 8% year-over-year to $19.0 million, driven by lower OviTex PRS volumes, while adjusted EBITDA loss improved 39% to $3.4 million and GAAP net loss widened to $9.3 million.
Management announced a strategic cost reduction initiative targeting $17.0 million in annual operating expense cuts, projected to extend the cash runway into 2028 despite cash reserves dropping to $22.7 million.
International revenue grew 18% year-over-year and the company regained Nasdaq compliance, alongside 510(k) clearance for the Liora Monofilament Scaffold and positive clinical data for OviTex products.
Cash and cash equivalents decreased from $50.8 million to $22.7 million as of September 30, 2026, while current debt increased to $56.3 million compared to zero in the prior period.