Earnings Releases·Nov 12, 2026, 4:15 PM ET

Tenon Medical — Third Quarter 2026 Earnings Summary

Revenue grew 22% year-over-year to $1.4 million in Q3 2026 and 66% to $4.1 million for the nine-month period, driven by increased surgical procedures and adoption of the SImmetry®+ System.
Gross margin improved to 66.3% from 65.9% due to fixed cost absorption and the July 2026 510(k) clearance reclassifying Catamaran® instruments as reusable; operating loss narrowed to $3.1 million from $3.4 million.
Net loss widened to $6.6 million ($5.39 per share) from $3.3 million ($14.17 per share) primarily due to $3.1 million in non-cash warrant expenses and $0.7 million in convertible note amortization.
Company raised $15.6 million in aggregate proceeds during the quarter and repaid $5.12 million in senior convertible notes, resulting in zero outstanding debt and $8.3 million in cash as of September 30, 2026.
Strategic updates include the full commercial launch of the 3D-printed lateral screw, completion of alpha cases for the Quickstep™ Decorticator targeting Q1 2027 release, and the hiring of a new Chief Revenue Officer to expand commercial operations.