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Tela Bio, Inc. Financials

TELA
Source SEC Filings (10-K/10-Q) Updated Mar 25, 2026 Currency USD FYE March

This page shows Tela Bio, Inc. (TELA) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 24 / 100
Financial Profile 24/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Tela Bio, Inc. has an operating margin of -42.0%, meaning the company retains $-42 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -49.2% the prior year.

Growth
60

Tela Bio, Inc.'s revenue surged 15.8% year-over-year to $80.3M, reflecting rapid business expansion. This strong growth earns a score of 60/100.

Leverage
0

Tela Bio, Inc. has elevated debt relative to equity (D/E of 8.82), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
83

With a current ratio of 4.20, Tela Bio, Inc. holds $4.20 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.

Cash Flow
0

While Tela Bio, Inc. generated -$28.2M in operating cash flow, capex of $448K consumed most of it, leaving -$28.7M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Tela Bio, Inc. generates a -615.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -133.0% the prior year.

Piotroski F-Score Weak
3/9

Tela Bio, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), both operating efficiency signals pass.

Earnings Quality Low Quality
0.73x

For every $1 of reported earnings, Tela Bio, Inc. generates $0.73 in operating cash flow (-$28.2M OCF vs -$38.8M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-30.7x

Tela Bio, Inc. earns $-30.7 in operating income for every $1 of interest expense (-$33.8M vs $1.1M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$80.3M
YoY+15.8%
5Y CAGR+34.5%

Tela Bio, Inc. generated $80.3M in revenue in fiscal year 2025. This represents an increase of 15.8% from the prior year.

EBITDA
-$33.1M
YoY+1.1%

Tela Bio, Inc.'s EBITDA was -$33.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 1.1% from the prior year.

Net Income
-$38.8M
YoY-2.6%

Tela Bio, Inc. reported -$38.8M in net income in fiscal year 2025. This represents a decrease of 2.6% from the prior year.

EPS (Diluted)
$-0.83
YoY+37.6%

Tela Bio, Inc. earned $-0.83 per diluted share (EPS) in fiscal year 2025. This represents an increase of 37.6% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$28.7M
YoY+32.7%

Tela Bio, Inc. generated -$28.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 32.7% from the prior year.

Cash & Debt
$50.8M
YoY-3.5%
5Y CAGR-7.3%

Tela Bio, Inc. held $50.8M in cash against $55.7M in long-term debt as of fiscal year 2025.

Dividends Per Share
N/A
Shares Outstanding
45M
YoY+13.6%
5Y CAGR+25.4%

Tela Bio, Inc. had 45M shares outstanding in fiscal year 2025. This represents an increase of 13.6% from the prior year.

Margins & Returns

Gross Margin
67.7%
YoY+0.6pp
5Y CAGR+6.0pp

Tela Bio, Inc.'s gross margin was 67.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.6 percentage points from the prior year.

Operating Margin
-42.0%
YoY+7.2pp
5Y CAGR+96.7pp

Tela Bio, Inc.'s operating margin was -42.0% in fiscal year 2025, reflecting core business profitability. This is up 7.2 percentage points from the prior year.

Net Margin
-48.4%
YoY+6.2pp
5Y CAGR+109.7pp

Tela Bio, Inc.'s net profit margin was -48.4% in fiscal year 2025, showing the share of revenue converted to profit. This is up 6.2 percentage points from the prior year.

Return on Equity
-615.1%
YoY-482.1pp
5Y CAGR-556.4pp

Tela Bio, Inc.'s ROE was -615.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 482.1 percentage points from the prior year.

Capital Allocation

R&D Spending
$9.2M
YoY+4.6%
5Y CAGR+16.7%

Tela Bio, Inc. invested $9.2M in research and development in fiscal year 2025. This represents an increase of 4.6% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$448K
YoY-54.7%
5Y CAGR+21.8%

Tela Bio, Inc. invested $448K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 54.7% from the prior year.

TELA Income Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Revenue $20.7M+2.4% $20.2M+9.1% $18.5M+4.9% $17.6M-6.9% $19.0M+17.8% $16.1M-3.1% $16.6M-2.3% $17.0M
Cost of Revenue $6.6M+10.5% $6.0M+1.4% $5.9M-6.6% $6.3M+5.5% $6.0M+22.0% $4.9M-4.8% $5.2M-2.0% $5.3M
Gross Profit $14.0M-1.0% $14.1M+12.7% $12.5M+11.5% $11.2M-12.7% $12.9M+16.1% $11.1M-2.3% $11.3M-2.5% $11.6M
R&D Expenses $2.3M+6.6% $2.2M-13.3% $2.5M+25.2% $2.0M-1.9% $2.1M-11.0% $2.3M-2.9% $2.4M-10.9% $2.7M
SG&A Expenses $3.9M-4.3% $4.1M+7.6% $3.8M+6.9% $3.6M-2.6% $3.7M+1.7% $3.6M-5.4% $3.8M-5.5% $4.1M
Operating Income -$7.6M+16.8% -$9.1M+13.3% -$10.5M-25.4% -$8.4M+10.8% -$9.4M+19.1% -$11.6M-139.7% -$4.8M+60.7% -$12.3M
Interest Expense $1.2M+1.1% $1.2M-2.5% $1.2M-5.0% $1.3M-4.5% $1.3M+1.0% $1.3M-0.1% $1.3M-1.0% $1.3M
Income Tax N/A $33K-36.5% $52K N/A N/A N/A N/A N/A
Net Income -$8.6M+13.3% -$9.9M+11.9% -$11.3M-22.3% -$9.2M+11.2% -$10.4M+17.7% -$12.6M-122.6% -$5.7M+56.1% -$12.9M
EPS (Diluted) $-0.19+13.6% $-0.22+12.0% $-0.25 N/A $-0.42+17.6% $-0.51-121.7% $-0.23 N/A

TELA Balance Sheet

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Total Assets $61.6M-8.8% $67.5M-12.6% $77.3M-10.8% $86.6M+63.3% $53.0M-11.9% $60.2M-16.2% $71.8M-8.0% $78.0M
Current Assets $56.0M-7.7% $60.7M-12.9% $69.7M-10.7% $78.1M+76.9% $44.1M-13.7% $51.1M-18.4% $62.6M-12.7% $71.7M
Cash & Equivalents $29.7M-15.0% $35.0M-18.3% $42.8M-18.7% $52.7M+204.4% $17.3M-34.7% $26.5M-28.7% $37.1M-20.5% $46.7M
Inventory $11.6M+1.6% $11.4M-16.0% $13.5M+5.9% $12.8M-6.0% $13.6M+1.7% $13.4M-1.7% $13.6M+3.3% $13.2M
Accounts Receivable N/A N/A N/A N/A N/A N/A N/A N/A
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $60.0M+2.9% $58.4M-1.3% $59.1M+1.7% $58.1M-2.0% $59.3M+3.4% $57.3M-0.2% $57.5M-2.9% $59.2M
Current Liabilities $17.0M-10.9% $19.1M+15.3% $16.5M+6.0% $15.6M-7.5% $16.9M+12.5% $15.0M-1.3% $15.2M-10.5% $17.0M
Long-Term Debt $41.5M+9.0% $38.1M-7.8% $41.3M+0.4% $41.1M+0.4% $41.0M+0.4% $40.8M+0.4% $40.7M+0.4% $40.5M
Total Equity $1.6M-83.0% $9.2M-49.3% $18.1M-36.3% $28.5M+553.7% -$6.3M-318.5% $2.9M-80.0% $14.4M-23.8% $18.9M
Retained Earnings -$388.5M-2.3% -$379.9M-2.7% -$370.0M-3.1% -$358.7M-2.6% -$349.5M-3.1% -$339.1M-3.9% -$326.6M-1.8% -$320.9M

TELA Cash Flow Statement

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Operating Cash Flow -$5.7M+27.7% -$7.9M+18.7% -$9.7M-29.1% -$7.5M+16.2% -$9.0M+16.0% -$10.7M+25.6% -$14.4M-30.2% -$11.1M
Capital Expenditures $211K+85.1% $114K+256.3% $32K-87.9% $264K+116.4% $122K-59.2% $299K-1.6% $304K+48.3% $205K
Free Cash Flow -$5.9M+26.1% -$8.0M+17.8% -$9.8M-25.2% -$7.8M+14.4% -$9.1M+17.2% -$11.0M+25.1% -$14.7M-30.5% -$11.3M
Investing Cash Flow $312K+52.9% $204K+47.8% $138K+172.6% -$190K-55.7% -$122K-282.1% $67K-98.6% $4.7M+2533.2% -$193K
Financing Cash Flow $24K+900.0% -$3K+97.4% -$116K-100.3% $42.9M+43683.7% $98K+2060.0% -$5K-108.9% $56K+154.5% $22K
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

TELA Financial Ratios

Metric Q2'26 Q1'26 Q4'25 Q3'25 Q2'25 Q1'25 Q4'24 Q3'24
Gross Margin 67.5%-2.3pp 69.8%+2.3pp 67.6%+4.0pp 63.6%-4.2pp 67.8%-1.0pp 68.8%+0.5pp 68.3%-0.1pp 68.4%
Operating Margin -36.5%+8.5pp -45.0%+11.6pp -56.5%-9.2pp -47.3%+2.1pp -49.4%+22.5pp -71.9%-42.8pp -29.1%+43.2pp -72.2%
Net Margin -41.6%+7.6pp -49.1%+11.7pp -60.8%-8.6pp -52.2%+2.5pp -54.7%+23.6pp -78.3%-44.2pp -34.1%+41.7pp -75.8%
Return on Equity -552.5%-444.5pp -108.0%-45.9pp -62.2%-29.8pp -32.4% N/A -439.0%-399.7pp -39.4%+28.9pp -68.3%
Return on Assets -14.0%+0.7pp -14.7%-0.1pp -14.6%-3.9pp -10.6%+8.9pp -19.6%+1.4pp -20.9%-13.1pp -7.9%+8.6pp -16.5%
Current Ratio 3.30+0.1 3.19-1.0 4.22-0.8 5.01+2.4 2.62-0.8 3.41-0.7 4.13-0.1 4.23
Debt-to-Equity 26.65+22.5 4.14+1.9 2.28+0.8 1.45+8.0 -6.53-20.8 14.22+11.4 2.83+0.7 2.15
FCF Margin -28.7%+11.0pp -39.7%+13.0pp -52.7%-8.5pp -44.2%+3.9pp -48.0%+20.3pp -68.3%+20.1pp -88.5%-22.3pp -66.2%

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Frequently Asked Questions

Tela Bio, Inc. (TELA) reported $80.3M in total revenue for fiscal year 2025. This represents a 15.8% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Tela Bio, Inc. (TELA) revenue grew by 15.8% year-over-year, from $69.3M to $80.3M in fiscal year 2025.

No, Tela Bio, Inc. (TELA) reported a net income of -$38.8M in fiscal year 2025, with a net profit margin of -48.4%.

Tela Bio, Inc. (TELA) reported diluted earnings per share of $-0.83 for fiscal year 2025. This represents a 37.6% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Tela Bio, Inc. (TELA) had EBITDA of -$33.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2025, Tela Bio, Inc. (TELA) had $50.8M in cash and equivalents against $55.7M in long-term debt.

Tela Bio, Inc. (TELA) had a gross margin of 67.7% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

Tela Bio, Inc. (TELA) had an operating margin of -42.0% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

Tela Bio, Inc. (TELA) had a net profit margin of -48.4% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

Tela Bio, Inc. (TELA) has a return on equity of -615.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

Tela Bio, Inc. (TELA) generated -$28.7M in free cash flow during fiscal year 2025. This represents a 32.7% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Tela Bio, Inc. (TELA) generated -$28.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

Tela Bio, Inc. (TELA) had $81.4M in total assets as of fiscal year 2025, including both current and long-term assets.

Tela Bio, Inc. (TELA) invested $448K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

Tela Bio, Inc. (TELA) invested $9.2M in research and development during fiscal year 2025.

Tela Bio, Inc. (TELA) had 45M shares outstanding as of fiscal year 2025.

Tela Bio, Inc. (TELA) had a current ratio of 4.20 as of fiscal year 2025, which is generally considered healthy.

Tela Bio, Inc. (TELA) had a debt-to-equity ratio of 8.82 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

Tela Bio, Inc. (TELA) had a return on assets of -47.7% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2025 data, Tela Bio, Inc. (TELA) had $50.8M in cash against an annual operating cash burn of $28.2M. This gives an estimated cash runway of approximately 22 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Tela Bio, Inc. (TELA) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Tela Bio, Inc. (TELA) has an earnings quality ratio of 0.73x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Tela Bio, Inc. (TELA) has an interest coverage ratio of -30.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Tela Bio, Inc. (TELA) scores 24 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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