| Metric | Value ($ M) | Q1 FY25 |
|---|---|---|
| Revenue | 1.38 | 89.0% |
| Total Income | 1.38 | 89.0% |
| Expenditure | 4.66 | 5.9% |
| PBT | — | |
| Net Profit | -3.48 | 3.9% |
| OPM | — | |
| NPM | — | |
| EPS | -0.31 | 69.3% |
Tenon Medical Reports Q1 2026 Revenue of $1.4 Million, Up 90% YoY
13 May 2026 · 13 May, 1:53 am
Summary
Tenon Medical reported financial results for the first quarter ended March 31, 2026. The company's first quarter revenue was $1.4 million, representing a 90% increase compared to the same period in the prior year. Gross profit for the first quarter was $0.9 million, up approximately 193% year-over-year, with gross margin expanding to 68.5%. The company closed a $4.3 million senior convertible note private placement to support commercial expansion and product development. Steven M. Foster, President and CEO, stated that the results reflect the early returns on the company's strategy and that they are well-positioned to deliver increasing value to patients, providers, and stockholders.
Key Highlights
- 1
Tenon Medical's first quarter 2026 revenue was $1.4 million, an increase of approximately 90% compared to the prior year.
- 2
The company's first quarter gross profit was $0.9 million, an increase of approximately 193% compared to the prior year.
- 3
Gross margin expanded approximately 24 percentage points year-over-year to 68.5% in the first quarter.
- 4
The company closed a $4.3 million senior convertible note private placement to fund commercial expansion and product development.
- 5
Subsequent to quarter end, the company opened a new Center of Excellence Training Center in Tampa, FL, along with expansion of the company’s sales leadership throughout the Eastern Region.
- 6
Net loss was $3.5 million, or $0.31 per share, in the first quarter of 2026, compared to a net loss of $3.6 million, or $1.01 per share, in the first quarter of 2025.
Management Comments
Steven M. Foster
"The first quarter of 2026 reflects the early returns on the strategy we have been executing, broadening our SI joint fusion platform, deepening surgeon engagement, and translating those investments into meaningful top-line growth. We delivered significant first quarter revenue of $1.4 million, up approximately 90% year-over-year, and significant first quarter gross profit of $0.9 million, up approximately 193%, demonstrating both the commercial traction of our Catamaran® and SImmetry®+ systems and the operating leverage we have been working to build." "Looking ahead, our priorities are clear: drive continued procedure growth across both Catamaran® and SImmetry®+, expand our base of trained surgeons, and maintain the disciplined cost structure that is now showing through in our gross margin and field productivity. With a differentiated multi-approach portfolio, a strengthened balance sheet, and the capital flexibility from our recent financing, we believe Tenon is well positioned to build on this quarter's momentum and deliver increasing value to patients, providers, and stockholders."
Informational and educational content only. Not investment advice.