Tela Bio, Inc. Financials
Tela Bio, Inc. (TELA) reported $80.3M in revenue for fiscal year 2025, up 15.8% from the prior fiscal year. This page shows its 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).
Sales growth is improving cash burn absorption, but the company still funds expansion through a progressively thinner, more leveraged balance sheet.
From FY2023 to FY2025, revenue grew37.3% while free cash burn narrowed by$12.8M . Because the net loss improved by only$7.9M over the same span, part of the cash improvement came from better operating scale and lower cash demands outside reported earnings, a healthier pattern than growth that simply consumes more capital.
The business looks commercialization-heavy rather than manufacturing-heavy: gross margin stayed near
Short-term liquidity still looks buffered, with
Financial Health Signals
Scored against emerging companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Tela Bio, Inc.'s business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Tela Bio, Inc. scores -6.12, below the 1.81 distress threshold. The score is driven primarily by a large market capitalization ($31.0M) relative to total liabilities ($75.1M). This indicates elevated financial distress risk and warrants close attention to liquidity and debt levels.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
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.
Tela Bio, Inc. reported a net loss of $38.8M while operations used $28.2M of cash. With neither figure positive, the ratio between the two carries no quality signal.
Tela Bio, Inc. reported an operating loss of $33.8M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations.
Key Financial Metrics
Earnings & Revenue
Tela Bio, Inc. generated $80.3M in revenue in fiscal year 2025. This represents an increase of 15.8% from the prior year.
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.
Tela Bio, Inc. reported -$38.8M in net income in fiscal year 2025. This represents a decrease of 2.6% from the prior year.
Cash & Balance Sheet
Tela Bio, Inc. recorded an outflow of $28.7M in free cash flow in fiscal year 2025, representing a cash shortfall after capex. This represents an increase of 32.7% from the prior year.
Tela Bio, Inc. held $50.8M in cash against $55.7M in long-term debt as of fiscal year 2025.
Not reported for fiscal year 2025.
Margins & Returns
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.
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.
Tela Bio, Inc.'s net profit margin was -48.3% in fiscal year 2025, showing the share of revenue converted to profit. This is up 6.2 percentage points from the prior year.
Tela Bio, Inc.'s ROE was -614.6% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 481.8 percentage points from the prior year.
Capital Allocation
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.
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.
Not reported for fiscal year 2025.
TELA Income Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $79.9M | $80.3M+15.8% | $69.3M+18.6% | $58.5M+41.1% | $41.4M+40.6% | $29.5M+61.8% | $18.2M+17.9% | $15.4M+86.7% | $8.3M+94.9% | $4.2M |
| Cost of Revenue | $25.3M | $25.6M+13.9% | $22.4M+24.9% | $18.0M+32.4% | $13.6M+31.2% | $10.3M+55.0% | $6.7M+13.7% | $5.9M+29.1% | $4.5M+165.4% | $1.7M |
| Gross Profit | $54.2M | $54.3M+16.9% | $46.5M+15.9% | $40.1M+48.3% | $27.0M+43.8% | $18.8M+67.5% | $11.2M+21.2% | $9.3M+215.2% | $2.9M+16.2% | $2.5M |
| R&D Expenses | $9.5M | $9.2M+4.6% | $8.8M-8.4% | $9.6M+7.6% | $8.9M+32.5% | $6.7M+58.5% | $4.3M+2.5% | $4.2M-4.3% | $4.3M-25.0% | $5.8M |
| SG&A Expenses | $16.0M | $15.7M+6.6% | $14.7M-1.1% | $14.9M+7.4% | $13.9M+11.3% | $12.5M+22.8% | $10.1M+63.0% | $6.2M+27.0% | $4.9M-1.2% | $5.0M |
| Operating Income | -$34.0M | -$33.8M+1.1% | -$34.1M+22.6% | -$44.1M-13.0% | -$39.0M-32.4% | -$29.5M-16.5% | -$25.3M-31.9% | -$19.2M-7.8% | -$17.8M-5.1% | -$16.9M |
| Interest Expense | $7.0M | $5.2M-0.9% | $5.3M+1.3% | $5.2M+28.9% | $4.1M+12.6% | $3.6M+0.9% | $3.6M-1.2% | $3.6M+100.3% | $1.8M-60.5% | $4.6M |
| Income Tax | N/A | $230K+259.7% | -$144K | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Net Income | -$41.1M | -$38.8M-2.6% | -$37.8M+19.1% | -$46.7M-5.4% | -$44.3M-33.1% | -$33.3M-15.6% | -$28.8M-28.4% | -$22.4M-6.3% | -$21.1M+1.1% | -$21.3M |
| EPS (Diluted) | — | -$0.83 | -$1.33+34.8% | -$2.04+25.0% | -$2.72-18.3% | -$2.30-3.1% | -$2.23 | -$17.10 | N/A | N/A |
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TELA Balance Sheet
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Total Assets | $81.4M-6.0% | $86.6M+10.9% | $78.0M+15.0% | $67.9M+8.5% | $62.5M-27.7% | $86.5M+27.3% | $67.9M+149.5% | $27.2M | N/A |
| Current Assets | $75.6M-3.2% | $78.1M+8.8% | $71.7M+14.9% | $62.4M+5.7% | $59.1M-29.0% | $83.2M+29.4% | $64.3M+176.7% | $23.3M | N/A |
| Cash & Equivalents | $50.8M-3.5% | $52.7M+12.7% | $46.7M+11.2% | $42.0M-4.4% | $43.9M-40.9% | $74.4M+64.2% | $45.3M+162.2% | $17.3M+52.3% | $11.3M |
| Inventory | $11.0M-13.8% | $12.8M-2.9% | $13.2M+11.6% | $11.8M+54.0% | $7.7M+96.0% | $3.9M-15.1% | $4.6M+5.9% | $4.3M | N/A |
| Total Liabilities | $75.1M+29.2% | $58.1M-1.8% | $59.2M+10.5% | $53.5M+26.2% | $42.4M+13.4% | $37.4M+1.3% | $37.0M-77.6% | $165.1M | N/A |
| Current Liabilities | $18.0M+15.2% | $15.6M-8.1% | $17.0M+36.8% | $12.4M+17.3% | $10.6M+60.1% | $6.6M-1.6% | $6.7M-29.8% | $9.6M | N/A |
| Long-Term Debt | $55.7M+35.3% | $41.1M+1.5% | $40.5M+1.5% | $39.9M+26.8% | $31.5M+2.2% | $30.8M+1.9% | $30.2M | N/A | N/A |
| Total Equity | $6.3M-77.8% | $28.5M+50.7% | $18.9M+32.0% | $14.3M-28.8% | $20.1M-59.0% | $49.0M+58.3% | $31.0M+122.5% | -$137.9M-27.4% | -$108.2M |
| Retained Earnings | -$397.6M-10.8% | -$358.7M-11.8% | -$320.9M-17.0% | -$274.2M-19.3% | -$229.9M-16.9% | -$196.7M-17.2% | -$167.9M-21.8% | -$137.9M | N/A |
Not reported in any period shown, so not listed: Accounts Receivable, Goodwill.
TELA Cash Flow Statement
Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.
| Metric | TTM | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$31.1M | -$28.2M+32.2% | -$41.6M-1.8% | -$40.9M-0.3% | -$40.7M-33.9% | -$30.4M-24.4% | -$24.5M+4.2% | -$25.5M-28.1% | -$19.9M-21.7% | -$16.4M |
| Capital Expenditures | $480K | $448K-54.7% | $989K+61.9% | $611K-29.9% | $872K+39.1% | $627K+275.4% | $167K-15.2% | $197K+217.7% | $62K-45.6% | $114K |
| Free Cash Flow | -$31.6M | -$28.7M+32.7% | -$42.6M-2.7% | -$41.5M+0.4% | -$41.6M-34.0% | -$31.1M-26.1% | -$24.6M+4.3% | -$25.7M-28.7% | -$20.0M-21.3% | -$16.5M |
| Investing Cash Flow | $933K | $846K-81.0% | $4.5M+843.1% | -$599K+68.0% | -$1.9M-198.6% | -$627K-106.9% | $9.1M+176.1% | -$12.0M-669.0% | -$1.6M-1442.6% | -$101K |
| Financing Cash Flow | $25.6M | $25.8M-40.2% | $43.1M-6.9% | $46.3M+13.3% | $40.9M+6883.2% | $585K-98.7% | $44.4M-32.2% | $65.5M+139.0% | $27.4M+4.1% | $26.3M |
Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.
TTM is the trailing twelve months, Q3 FY2025 through Q2 FY2026, summed from the four most recent quarterly filings. A row marked — cannot be summed at all, because a quarter in the window reports no per-share figure; a row marked N/A could be summed, but a quarter in the window does not report that metric.
TELA Financial Ratios
Margins and returns are percentages; the remaining ratios are unitless multiples.
| Metric | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 | FY18 | FY17 |
|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.7%+0.6pp | 67.1%-1.5pp | 68.6%+3.3pp | 65.3%+1.5pp | 63.8%+2.2pp | 61.7%+1.7pp | 60.0%+24.5pp | 35.6%-24.1pp | 59.7% |
| Operating Margin | -42.0%+7.2pp | -49.2%+26.2pp | -75.4%+18.8pp | -94.2%+5.8pp | -100.0% | -138.8% | -124.1% | -214.9% | -398.7% |
| Net Margin | -48.3%+6.2pp | -54.5%+25.3pp | -79.9% | -106.9% | -112.9% | -158.1% | -145.2% | -254.9% | -502.6% |
| Return on Equity | -614.6%-481.8pp | -132.8%+114.5pp | -247.3%+62.3pp | -309.6%-144.1pp | -165.6%-106.8pp | -58.7%+13.7pp | -72.4% | N/A | N/A |
| Return on Assets | -47.7%-4.0pp | -43.7%+16.2pp | -59.8%+5.4pp | -65.3%-12.1pp | -53.2%-19.9pp | -33.3%-0.3pp | -33.0%+44.5pp | -77.5% | N/A |
| Current Ratio | 4.20-0.8x | 5.01+0.8x | 4.23-0.8x | 5.03-0.5x | 5.58-7.0x | 12.60+3.0x | 9.58+7.2x | 2.43 | N/A |
| Debt-to-Equity | 8.82+7.4x | 1.45-0.7x | 2.15-0.6x | 2.79+1.2x | 1.57+0.9x | 0.63-0.3x | 0.98 | N/A | N/A |
| FCF Margin | -35.7%+25.7pp | -61.5%+9.5pp | -70.9% | -100.5% | -105.4% | -135.2% | -166.5% | -241.6% | -388.3% |
Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin, FCF Margin.
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Where Tela Bio, Inc. Ranks
Frequently Asked Questions
What is Tela Bio, Inc.'s annual revenue?
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.
How fast is Tela Bio, Inc.'s revenue growing?
Tela Bio, Inc. (TELA) revenue grew by 15.8% year-over-year, from $69.3M to $80.3M in fiscal year 2025.
Is Tela Bio, Inc. profitable?
No, Tela Bio, Inc. (TELA) reported a net income of -$38.8M in fiscal year 2025, with a net profit margin of -48.3%.
What is Tela Bio, Inc.'s EBITDA?
Tela Bio, Inc. (TELA) had EBITDA of -$33.1M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Tela Bio, Inc. have?
As of fiscal year 2025, Tela Bio, Inc. (TELA) had $50.8M in cash and equivalents against $55.7M in long-term debt.
What is Tela Bio, Inc.'s gross margin?
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.
What is Tela Bio, Inc.'s operating margin?
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.
What is Tela Bio, Inc.'s net profit margin?
Tela Bio, Inc. (TELA) had a net profit margin of -48.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Tela Bio, Inc.'s return on equity (ROE)?
Tela Bio, Inc. (TELA) has a return on equity of -614.6% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Tela Bio, Inc.'s free cash flow?
Tela Bio, Inc. (TELA) recorded an outflow of $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.
What is Tela Bio, Inc.'s operating cash flow?
Tela Bio, Inc. (TELA) recorded an outflow of $28.2M in operating cash flow during fiscal year 2025, representing cash used by core business activities.
What are Tela Bio, Inc.'s total assets?
Tela Bio, Inc. (TELA) had $81.4M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Tela Bio, Inc.'s capital expenditures?
Tela Bio, Inc. (TELA) invested $448K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Tela Bio, Inc. spend on research and development?
Tela Bio, Inc. (TELA) invested $9.2M in research and development during fiscal year 2025.
What is Tela Bio, Inc.'s current ratio?
Tela Bio, Inc. (TELA) had a current ratio of 4.20 as of fiscal year 2025, which is generally considered healthy.
What is Tela Bio, Inc.'s debt-to-equity ratio?
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.
What is Tela Bio, Inc.'s return on assets (ROA)?
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.
How does Tela Bio, Inc.'s liquidity compare with its operating cash outflow?
At the end of fiscal year 2025, Tela Bio, Inc. (TELA) held $50.8M in cash, cash equivalents and investments, and reported an operating cash outflow of $28.2M over that year. Dividing the one by the other, the reported balance equals about 22 months of the outflow reported that year. This is arithmetic over figures already filed, not a projection: it assumes nothing about future spending, financing or operations.
What is Tela Bio, Inc.'s Altman Z-Score?
Tela Bio, Inc. (TELA) has an Altman Z-Score of -6.12, placing it in the Distress Zone (elevated bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Tela Bio, Inc.'s Piotroski F-Score?
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 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Tela Bio, Inc.'s earnings high quality?
Tela Bio, Inc. (TELA) reported a net loss of $38.8M while operations used $28.2M of cash. With neither figure positive, the ratio between the two carries no quality signal. 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.
Can Tela Bio, Inc. cover its interest payments?
Tela Bio, Inc. (TELA) reported an operating loss of $33.8M against $5.2M in interest expense. There is no operating profit to cover interest, so interest must be met from cash reserves or from financing rather than from operations. 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.
How financially healthy is Tela Bio, Inc.?
Tela Bio, Inc. (TELA) scores 47 out of 100 on our Financial Health Score, indicating moderate standing within its emerging companies peer group. The score is a 0-100 composite of six dimensions (Cash Runway, Dilution, R&D Intensity, Revenue Progress, Burn Trend, Balance Sheet), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.