Tenon(R) Medical Reports Third Quarter 2025 Financial Results
Tenon Medical (NASDAQ:TNON) reported Q3 2025 revenue of $1.2M, a 32% year-over-year increase driven by record Catamaran procedure volumes and the addition of SImmetry product sales. Gross profit was $773K with a 66% gross margin, up from 47% a year earlier. Q3 net loss was $3.3M (‑$0.40 per share). Cash and cash equivalents were $3.4M at September 30, 2025, and subsequent to quarter end the company raised $2.85M in PIPE financing. Tenon completed the SiVantage acquisition, expanded commercial training (26 physicians trained), and launched Catamaran SE and SImmetry+ activity to broaden its multi-product SI fusion portfolio.
Tenon Medical (NASDAQ:TNON) ha riportato entrate nel Q3 2025 di 1,2 milioni di dollari, un aumento del 32% su base annua trainato da volumi record di procedure Catamaran e dall'aggiunta delle vendite del prodotto SImmetry. Il profitto lordo è stato di 773 mila dollari con un margine lordo del 66%, rispetto al 47% dell'anno precedente. La perdita netta del trimestre è stata di 3,3 milioni di dollari (-0,40 dollari per azione). Le disponibilità liquide e equivalenti erano di 3,4 milioni di dollari al 30 settembre 2025, e dopo la chiusura del trimestre la società ha raccolto 2,85 milioni di dollari in finanziamenti PIPE. Tenon ha completato l'acquisizione SiVantage, ampliato la formazione commerciale (26 medici formati) e ha lanciato Catamaran SE e l'attività SImmetry+ per ampliare il portafoglio multi-prodotto SI fusion.
Tenon Medical (NASDAQ:TNON) informó ingresos del 3T 2025 de 1,2 millones de dólares, un aumento interanual del 32% impulsado por volúmenes récord de procedimientos Catamaran y la incorporación de ventas del producto SImmetry. El beneficio bruto fue de 773 mil dólares con un margen bruto del 66%, frente al 47% del año anterior. La pérdida neta del 3T fue de 3,3 millones de dólares (-0,40 por acción). El efectivo y equivalentes fueron de 3,4 millones de dólares al 30 de septiembre de 2025, y tras el cierre del trimestre la empresa levantó 2,85 millones de dólares en financiación PIPE. Tenon completó la adquisición de SiVantage, amplió la formación comercial (26 médicos entrenados) y lanzó Catamaran SE y la actividad SImmetry+ para ampliar su portafolio SI fusion multi-producto.
Tenon Medical (NASDAQ:TNON)는 2025년 3분기 매출이 120만 달러로 전년 대비 32% 증가했다고 보고했습니다. 이는 Catamaran 수술의 기록적인 볼륨과 SImmetry 제품 매출의 추가 덕분입니다. 총이익은 77.3만 달러로 66%의 총마진을 기록했으며, 전년 동기의 47%와 비교됩니다. 3분기 순손실은 330만 달러(-주당 0.40달러)였습니다. 현금 및 현금성 자산은 2025년 9월 30일 기준 340만 달러였고, 분기 종료 이후 PIPE 펀딩으로 285만 달러를 조달했습니다. Tenon은 SiVantage 인수를 완료했고, 상업 교육을 확대(의사 26명 교육)했으며 Catamaran SE 및 SImmetry+ 활동을 시작해 다제품 SI 융합 포트폴리오를 확장했습니다.
Tenon Medical (NASDAQ:TNON) a publié un chiffre d'affaires du T3 2025 de 1,2 million de dollars, une augmentation de 32% sur un an, tirée par des volumes record de procédures Catamaran et l'ajout des ventes du produit SImmetry. Le bénéfice brut était de 773 k$ avec une marge brute de 66%, contre 47% l'année précédente. La perte nette du T3 s'élevait à 3,3 M$ (-0,40 $ par action). Les liquidités et équivalents s'élevaient à 3,4 M$ au 30 septembre 2025, et après la clôture du trimestre, l'entreprise a levé 2,85 M$ dans le cadre d'un financement PIPE. Tenon a finalisé l'acquisition de SiVantage, élargi la formation commerciale (26 médecins formés) et lancé les activités Catamaran SE et SImmetry+ pour étendre son portefeuille SI fusion multi-produit.
Tenon Medical (NASDAQ:TNON) meldete Umsatz im Q3 2025 von 1,2 Mio. USD, eine 32%ige YoY-Steigerung, angetrieben durch Rekordvolumen bei Catamaran-Verfahren und die Aufnahme von SImmetry Produktverkäufen. Bruttogewinn von 773 Tsd. USD mit einer Bruttomarge von 66%, verglichen mit 47% im Vorjahr. Q3 Nettoverschuldung/Verlust betrug 3,3 Mio. USD (-0,40 USD pro Aktie). Barbestände und Barmittel betrugen 3,4 Mio. USD zum 30. September 2025, und nach Quartalsende sammelte das Unternehmen 2,85 Mio. USD in PIPE-Finanzierung. Tenon schloss die SiVantage-Übernahme ab, erweiterte die kommerzielle Schulung (26 Ärzte geschult) und führte Catamaran SE und SImmetry+ Aktivitäten ein, um das mehrproduktige SI-Fusionsportfolio zu erweitern.
Tenon Medical (NASDAQ:TNON) أَعلنت عن إيرادات الربع الثالث 2025 قدرها 1.2 مليون دولار، بزيادة 32% على أساس سنوي، مدفوعة بحجم إجراءات Catamaran القياسية وإضافة مبيعات منتج SImmetry. بلغ الربح الإجمالي 773 ألف دولار وهو بحدود هامش إجمالي 66%، مقارنة بـ47% في العام السابق. كان صافي الخسارة في الربع الثالث 3.3 مليون دولار (-0.40 دولار للسهم). كانت السيولة النقدية وما يعادلها 3.4 مليون دولار في 30 سبتمبر 2025، وبعد نهاية الربع جمعت الشركة 2.85 مليون دولار في تمويل PIPE. أكملت Tenon استحواذ SiVantage، ووسّعت التدريب التجاري (تدريب 26 طبيباً)، وأطلقت Catamaran SE ونشاط SImmetry+ لتوسيع محفظة SI fusion متعددة المنتجات.
- Revenue +32% year-over-year to $1.2M
- Gross margin improved from 47% to 66%
- Raised $2.85M PIPE financing after quarter-end
- Cash declined to $3.4M as of September 30, 2025
- Operating expenses rose ~17% quarter-over-quarter to $4.2M
- Net loss of $3.3M in Q3 2025
Insights
Record quarterly revenue and a post-quarter
Tenon Medical grew quarterly revenue to
Execution depends on converting clinical momentum and new product launches into consistent procedure volume while controlling operating expenses, which rose to
Watch for three near-term, monitorable items: the commercial roll-out and first surgeries using SImmetry+ in
~ Record revenue of
~ SImmetry®+ alpha launch in Q4 2025 advances strategic portfolio ~
~ Foundation set for sustained growth through portfolio diversification, commercial expansion and operational alignment ~
~ Subsequent to quarter end the Company announced the pricing of a PIPE financing with an industry supportive investor cohort raising total gross proceeds of
LOS GATOS, CA / ACCESS Newswire / November 13, 2025 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacro-pelvic disorders, today reported record financial results for the third quarter ended September 30, 2025.
Financial Results and Business Updates
Record revenue of
$1.2 million , compared to$0.9 million in the third quarter of 2024.Gross profit of
$773,000 , compared to$418,000 in the third quarter of 2024.Gross margin of
66% , compared to47% in the third quarter of 2024.Cash and cash equivalents of
$3.4 million as of September 30, 2025. Subsequent to quarter end the Company raised an additional$2.85 million in PIPE financing.Net loss of
$3.3 million for the third quarter of 2025, compared to a net loss of$3.2 million in the third quarter of 2024.Full market launch of the Catamaran SE SI Joint Fusion System in August deepens Tenon's clinical profile and supports broader procedural adoption across complex spine and sacro-pelvic indications.
Acquisition of the SiVantage SImmetry / SImmetry+ technologies transforms Tenon into a true multi-product, multi-approach sacro-pelvic fusion company, strengthens its commercial leadership team and brings immediate revenue-capable assets.
Clinical momentum continues with the publication of a second peer-reviewed 12-month study of the MAINSAIL™ trial, underscoring Tenon's strategy of "fusion, not fixation" with strong patient outcome data in the form of pain and disability scores, as well as 12-month CT fusion data as confirmed by independent radiologist.
Streamlined operating infrastructure and advanced commercial training with expanded surgeon-engagement and product-education initiatives during the quarter, setting the stage for scalable growth ahead.
Hosted 26 physicians in targeted training sessions for both Catamaran and SImmetry within the third quarter.
"Our third quarter results reflect meaningful progress in executing our growth strategy, highlighted by record revenue of
"At the same time, we maintained disciplined expense management while investing in initiatives that support sustainable growth. Operational synergies from SiVantage, together with our ongoing clinical programs, including the upcoming MAINSAIL™ data update, the full market launch of Catamaran SE, and the anticipated first surgeries using SImmetry+, position Tenon to advance its mission of delivering innovative sacro-pelvic solutions and driving long-term shareholder value." concluded Mr. Foster.
Third Quarter 2025 Financial Results
Revenue was
Gross profit was
Operating expenses totaled
Net loss was
As of September 30, 2025, cash and cash equivalents totaled
Third Quarter 2025 Earnings Conference Call
Management will host a conference call at 4:30 p.m. ET (1:30 p.m. PT) today, November 13, 2025, to discuss Tenon's third quarter 2025 financial results, provide a corporate update, and conclude with Q&A with the Company's covering analyst. To participate, please use the following information:
Date: | Thursday, November 13, 2025 |
Time: | 4:30 p.m. Eastern time |
Dial-in: | 1-877-407-0792 |
International Dial-in: | 1-201-689-8263 |
Webcast: |
Please dial in at least 10 minutes before the start of the call to ensure timely participation.
An audio playback of the call will be available through November 27, 2025, on Tenon's Investor Relations website at http://ir.tenonmed.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International). The access code will be 13756541.
About Tenon Medical, Inc.
Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. The system features the Catamaran™ Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, stabilizing and transfixing the SI Joint along its longitudinal axis. The angle and trajectory of the Catamaran surgical approach is also designed to provide a pathway away from critical neural and vascular structures and into the strongest cortical bone. Since the national launch of the Catamaran SI Joint Fusion System in October 2022, Tenon is focused on three commercial opportunities with its System in the SI Joint market which include: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) Augmenting spinal fusion. For more information, please visit www.tenonmed.com.
The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAIL™, and SImmetry+™ are also trademarks of Tenon Medical, Inc.
Safe Harbor
This press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. These forward-looking statements, include, but are not limited to, statements regarding the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and the anticipated use of proceeds therefrom. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause Tenon's actual results to be materially different than those expressed in any forward-looking statements, please review Tenon's Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and updated from time to time in our Form 10-Q filings and in our other public filings on file with the SEC at www.sec.gov, particularly the information contained in the section entitled "Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law.
Investor Contact
Shannon Devine
MZ North America
203-741-8811
tenon@mzgroup.us
Tenon Medical, Inc.
Condensed Balance Sheets (Unaudited)
(In thousands, except share data)
September 30, | December 31, | |||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 3,442 | $ | 6,535 | ||||
Accounts receivable, net | 1,311 | 863 | ||||||
Inventory, net | 1,364 | 606 | ||||||
Prepaid expenses and other current assets | 428 | 206 | ||||||
Total current assets | 6,545 | 8,210 | ||||||
Property and equipment, net | 663 | 752 | ||||||
Deposits | 51 | 51 | ||||||
Operating lease right-of-use asset | 200 | 399 | ||||||
Deferred offering costs | - | 431 | ||||||
Intangible assets, net | 500 | - | ||||||
Goodwill | 2,407 | - | ||||||
TOTAL ASSETS | $ | 10,366 | $ | 9,843 | ||||
Liabilities and Stockholders' EQUITY | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 625 | $ | 369 | ||||
Accrued expenses | 1,514 | 910 | ||||||
Current portion of accrued commissions | 686 | 303 | ||||||
Current portion of operating lease liability | 216 | 287 | ||||||
Total current liabilities | 3,041 | 1,869 | ||||||
Accrued commissions, net of current portion | 1,516 | 1,862 | ||||||
Operating lease liability, net of current portion | - | 141 | ||||||
Contingent consideration | 1,011 | - | ||||||
Total liabilities | 5,568 | 3,872 | ||||||
Stockholders' equity: | ||||||||
Series A convertible preferred stock, | 2,622 | 3,300 | ||||||
Series B convertible preferred stock, | 452 | 452 | ||||||
Common stock, | 9 | 3 | ||||||
Additional paid-in capital | 80,185 | 70,962 | ||||||
Accumulated deficit | (78,470 | ) | (68,746 | ) | ||||
Total stockholders' equity | 4,798 | 5,971 | ||||||
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 10,366 | $ | 9,843 | ||||
Tenon Medical, Inc.
Condensed Statements of Operations and Comprehensive Loss (Unaudited)
(In thousands, except per share data)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Revenue | $ | 1,173 | $ | 887 | $ | 2,463 | $ | 2,507 | ||||||||
Cost of sales | 400 | 469 | 1,122 | 1,149 | ||||||||||||
Gross Profit | 773 | 418 | 1,341 | 1,358 | ||||||||||||
Operating Expenses | ||||||||||||||||
Research and development | 428 | 657 | 1,622 | 2,034 | ||||||||||||
Sales and marketing | 1,538 | 1,212 | 4,304 | 4,041 | ||||||||||||
General and administrative | 2,199 | 1,764 | 5,341 | 5,876 | ||||||||||||
Total Operating Expenses | 4,165 | 3,633 | 11,267 | 11,951 | ||||||||||||
Loss from Operations | (3,392 | ) | (3,215 | ) | (9,926 | ) | (10,593 | ) | ||||||||
Other Income (Expense) | ||||||||||||||||
Gain on investments | 53 | 31 | 202 | 97 | ||||||||||||
Interest expense | - | - | - | (34 | ) | |||||||||||
Other income (expense), net | - | - | - | (56 | ) | |||||||||||
Total Other Income (Expense), net | 53 | 31 | 202 | 7 | ||||||||||||
Net Loss | $ | (3,339 | ) | $ | (3,184 | ) | $ | (9,724 | ) | $ | (10,586 | ) | ||||
Net Loss Per Share of Common Stock | ||||||||||||||||
Basic and diluted | $ | (0.40 | ) | $ | (3.63 | ) | $ | (1.48 | ) | $ | (18.60 | ) | ||||
Weighted-Average Shares of Common Stock Outstanding | ||||||||||||||||
Basic and diluted | 8,250 | 877 | 6,581 | 569 | ||||||||||||
Consolidated Statements of Comprehensive Loss: | ||||||||||||||||
Net loss | $ | (3,339 | ) | $ | (3,184 | ) | $ | (9,724 | ) | $ | (10,586 | ) | ||||
Foreign currency translation adjustment | - | - | - | 46 | ||||||||||||
Total comprehensive loss | $ | (3,339 | ) | $ | (3,184 | ) | $ | (9,724 | ) | $ | (10,540 | ) | ||||
SOURCE: Tenon Medical, Inc.
View the original press release on ACCESS Newswire
FAQ
What were Tenon Medical (TNON) Q3 2025 revenue and gross margin?
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