Quarterly ResultAug 13, 2026, 04:34 PM
Tenon Medical Q2 Revenue $1.3M (+127%); Gross Profit $0.8M (+232%)
AI Summary
Tenon Medical, Inc. reported strong financial growth for the second quarter ended June 30, 2026, with revenue increasing 127% to $1.3 million and gross profit surging 232% to $0.8 million. The company also achieved a 64% gross margin, a significant improvement from the prior year. However, net loss widened to $4.1 million, and cash reserves decreased to $1.7 million by quarter-end. Subsequent to the quarter, Tenon Medical secured FDA clearance for its updated Catamaran® SI Joint Fusion System, closed a $4.2 million public offering, and implemented a 1-for-35 reverse stock split to address Nasdaq listing requirements.
Key Highlights
- Second quarter 2026 revenue increased 127% year-over-year to $1.3 million.
- Second quarter gross profit rose 232% year-over-year to $0.8 million, with gross margin at 64%.
- Net loss for Q2 2026 was $4.1 million, or $12.35 per share, compared to $2.8 million ($12.76 per share) in Q2 2025.
- Cash and cash equivalents stood at $1.7 million as of June 30, 2026.
- Received FDA 510(k) clearance for the updated Catamaran® SI Joint Fusion System in July 2026.
- Closed a $4.2 million public offering in July 2026, with net proceeds of approximately $3.6 million.
- Recorded highest monthly surgical case volume in July 2026, following a 98% increase in training events.
- Effected a 1-for-35 reverse stock split on August 10, 2026, to regain Nasdaq compliance.
Price Impact
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