| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.28 | 7.3% | 128.6% |
| Total Income | 1.28 | 7.3% | 128.6% |
| Expenditure | 4.63 | 0.6% | 35.4% |
| PBT | — | ||
| Net Profit | -4.05 | 16.4% | 46.2% |
| OPM | — | ||
| NPM | — | ||
| EPS | -12.35 | 3883.9% | 3330.6% |
Tenon Medical Reports Q2 2026 Financial Results with 127% Revenue Increase
14 Aug 2026 · 14 Aug, 2:04 am
Summary
Tenon Medical reported strong second quarter 2026 financial results, with revenue increasing by 127% year-over-year to $1.3 million and gross profit rising 232% to $0.8 million. The company achieved a significant gross margin improvement to 64%. Key business updates include FDA clearance for an updated Catamaran® SI Joint Fusion System and a record monthly surgical case volume in July 2026, supported by increased training events. Management expressed optimism about the cost structure's effectiveness and future growth potential.
Key Highlights
- 1
Second Quarter 2026 revenue reached $1.3 million, marking a significant 127% increase compared to the prior year's second quarter.
- 2
Gross profit for the second quarter of 2026 surged by 232% to $0.8 million, up from $0.2 million in the same period of 2025.
- 3
Gross margin improved substantially to 64% in Q2 2026, a twenty-one percentage point increase from 43% in Q2 2025.
- 4
The company received FDA 510(k) clearance for an updated Catamaran® SI Joint Fusion System, incorporating instrument upgrades and reclassifying some as reusable.
- 5
Physician and distributor training events increased by 98% in the first half of 2026 compared to the second half of 2025, contributing to record monthly case volume in July 2026.
- 6
Tenon Medical closed a $4.2 million public offering subsequent to the quarter end, with net proceeds intended for debt repayment, commercial expansion, and clinical research.
- 7
Net loss for the second quarter of 2026 was $4.1 million, or $12.35 per share, compared to a net loss of $2.8 million, or $12.76 per share, in the second quarter of 2025.
Management Comments
Steven M. Foster
Revenue of $1.3 million and gross profit of $0.8 million were each the highest we have reported in a second quarter, and the 64% gross margin demonstrates that the cost structure we’ve implemented is delivering as designed. Case volume grew across both the Catamaran® and SImmetry®+ platforms, and each incremental procedure is now carrying meaningfully more profit. Along with record case volume, July added two more building blocks. The 510(k) clearance for our updated Catamaran® System moves several instruments from disposable to reusable, which we expect will take recurring cost out of cases we perform going forward, and the $4.2 million offering we closed on July 1 lets us reduce our convertible note balance while supporting our near-term commercial build-out and clinical program. Our focus through the balance of 2026 is straightforward: accelerating our development and product launch strategies, expanding training activities, and maintaining discipline on spend.
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