Tela Bio, Inc. SEC Filings

TELA Bio reported Q1 2026 revenue of $19.1 million and a net loss of $12.3 million. Revenue grew about 3% from the prior-year quarter, driven mainly by higher OviTex unit sales and stronger international demand, partly offset by weaker price mix and slightly lower OviTex PRS volume.

Gross margin slipped to 66% from 68% as higher excess and obsolete inventory charges offset revenue growth. Operating expenses were roughly flat overall, with modestly lower sales and marketing and research and development, and higher general and administrative costs.

The company posted operating cash outflows of $11.2 million and ended the quarter with $39.5 million of cash and cash equivalents. Long‑term debt under its Perceptive term loan remained at $60.0 million, and accumulated deficit increased to $409.8 million, resulting in a stockholders’ deficit of $5.2 million.

TELA Bio, Inc. reported first quarter 2026 results showing modest growth while remaining unprofitable. Revenue was $19.1 million, up 3% from the same period in 2025, driven by 13% unit growth and increasing international sales, partially offset by U.S. product mix headwinds from rapid growth of smaller-sized units.

Gross profit was $12.5 million, with a gross margin of 65.7% versus 67.6% a year earlier, mainly due to higher charges for excess and obsolete inventory. Operating expenses held flat at $23.0 million, resulting in a loss from operations of $10.5 million, similar to 2025. Net loss widened slightly to $12.3 million.

Cash and cash equivalents totaled $39.5 million as of March 31, 2026. Management reiterated its 2026 financial guidance and highlighted a fully built commercial organization, early traction in Europe, and the full U.S. commercial launch of OviTex LTR, aimed at supporting more predictable growth through the remainder of 2026.

TELA Bio, Inc. is asking stockholders to vote at its virtual 2026 annual meeting on June 9, 2026. Holders of common stock as of April 24, 2026, when 44,765,928 shares were outstanding, may vote online, by phone, mail, or during the meeting.

Stockholders will elect three Class I directors (Joseph Capper, William Plovanic and Betty Jo Rocchio) for terms ending in 2029, ratify KPMG LLP as auditor for 2026, and cast an advisory vote on executive pay. They will also vote on amending the 2019 Equity Incentive Plan to increase authorized shares under the plan by 3,500,000 and on a possible adjournment if support for that amendment is insufficient.

The proxy highlights 2025 performance, including revenue of $20.9 million in Q4 and $80.3 million for the full year, representing 18% and 16% growth versus 2024. It also notes a credit facility of up to $70.0 million with Perceptive Advisors, an initial $60.0 million draw, and a 2025 underwritten registered direct offering of 4,189,000 common shares and pre-funded warrants for 7,523,000 shares that generated approximately $11.6 million in net proceeds.

TELA Bio, Inc. reported preliminary, unaudited revenue of approximately $19.0 million for the quarter ended March 31, 2026. Management prepared this estimate before completing quarter-end closing procedures, and the company’s auditor, KPMG LLP, has not performed any review or assurance work on it. Actual results may differ and will be reflected in the upcoming Form 10‑Q.

The company also announced significant board changes. Chairman Doug Evans and three other directors will retire from the board immediately following the 2026 Annual Meeting, with no departures due to disagreements over operations or policies. The board has nominated Joseph Capper, who is not expected to qualify as independent under Nasdaq rules, to join as a Class I director and become Chairman upon his election. Three new independent directors — Guido Neels, Guy Nohra, and Paul Thomas — will join in different board classes and assume key committee roles after the 2026 Annual Meeting. Subject to their election and appointment, each of these incoming directors and Mr. Capper will receive an initial equity award following the annual meeting, consisting of stock options and restricted stock units that vest over three years.

TELA Bio, Inc. reports 2025 results with revenue of $80.3 million, up from $69.3 million, and a net loss of $38.8 million versus $37.8 million in 2024.

The company is a commercial-stage medical technology business focused on soft-tissue reconstruction, built around its OviTex hernia repair and OviTex PRS plastic and reconstructive surgery portfolios. These reinforced tissue matrices combine ovine-derived biologic material with limited polymer to promote tissue remodeling while maintaining strength.

TELA Bio highlights a large U.S. market opportunity, estimating a total addressable market of about $1.8 billion for OviTex hernia products and $800 million for OviTex PRS. It continues to invest in clinical studies (including BRAVO, BRAVO II and OPERA), product enhancements, and expanded indications, while operating under an exclusive manufacturing and license agreement with Aroa and maintaining a primarily direct U.S. sales force.

TELA Bio reported strong revenue growth but continued losses for the fourth quarter and full year 2025. Fourth quarter revenue reached $20.9 million, up 18% from 2024, with gross margin of 65.9% and a reduced operating loss of $6.6 million. Full-year revenue was $80.3 million, a 16% increase, and gross margin improved to 67.7%, while the net loss widened slightly to $38.8 million. Cash and cash equivalents were $50.8 million at December 31, 2025, against long-term debt of $55.7 million. Management highlighted its largest quarterly revenue to date, 88 revenue-generating representatives, and expressed confidence in achieving at least 8% revenue growth in 2026 while progressing toward profitability without raising additional capital.

TELA Bio, Inc. reported that it received a notice from Nasdaq stating its common stock has closed below the required $1.00 per share minimum bid price for 30 consecutive business days, putting the company out of compliance with Nasdaq Listing Rule 5450(a)(1) for the Nasdaq Global Market.

The stock will continue trading under the symbol “TELA” for now, and the notice has no immediate effect on the current listing. TELA Bio has until September 14, 2026 to regain compliance, which would occur if the closing bid price stays at or above $1.00 for at least 10 consecutive business days.

If compliance is not regained by that date, Nasdaq may grant an additional 180-day period if TELA transfers to the Nasdaq Capital Market and meets its other listing standards. Failure to regain compliance after these periods could lead to delisting, though the company would have the right to appeal. TELA Bio plans to monitor its share price and explore options to resolve the deficiency.

TELA Bio, Inc. Chief Medical Officer Howard N. Langstein filed an initial statement of holdings. He directly holds 71,347 shares of common stock and a stock option covering 72,750 shares at an exercise price of $0.7830 per share, expiring on February 18, 2036. The option vests 25% on February 18, 2027, with the remaining 75% vesting in equal monthly installments over the following 36 months, contingent on continued service.