Tenon Medical (TNON) posts 127% Q2 2026 revenue growth amid higher net loss

Q: How did Tenon Medical (TNON) perform financially in Q2 2026?

Tenon Medical reported Q2 2026 revenue of $1.3 million , up 127% from $0.6 million a year ago, with gross profit of $0.8 million and a 64% gross margin . Net loss increased to $4.1 million from $2.8 million.

Q: What were Tenon Medical (TNON)’s cash and debt positions at June 30, 2026?

At June 30, 2026, Tenon held $1.7 million in cash and cash equivalents and reported $4.3 million of convertible notes classified as current liabilities, within total liabilities of $11.7 million , resulting in $1.7 million stockholders’ deficit.

Q: What capital did Tenon Medical (TNON) raise after Q2 2026?

In July 2026, Tenon closed a public offering with $4.2 million gross proceeds and approximately $3.6 million net proceeds. The company plans to use these funds for partial repayment of $5.2 million convertible notes and for commercial, clinical, and development activities.

Q: What regulatory progress did Tenon Medical (TNON) report?

Tenon received FDA 510(k) clearance for its updated Catamaran® SI Joint Fusion System. The update moves several instruments from disposable to reusable, which the company expects will lower recurring case costs for procedures using this system.

Q: What key risks does Tenon Medical (TNON) highlight in this update?

The company notes risks related to its ability to continue as a going concern , to regain and maintain Nasdaq listing compliance , and to raise additional capital or refinance its $5.2 million convertible notes maturing in 2026.

Q: How did Tenon Medical’s (TNON) gross margin change year over year?

Q2 2026 gross margin was 64% , compared with 43% in Q2 2025. Management attributes the 21-point improvement mainly to higher revenue and lower fixed costs , which increased absorption of production overhead within cost of goods sold.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Tenon Medical, Inc. reported strong top-line growth but continued losses for the quarter ended June 30, 2026. Revenue was $1.3 million, up 127% from the prior-year quarter, driven by a higher number of surgical procedures and added revenue from the SImmetry®+ System. Gross profit rose to $0.8 million with a 64% gross margin, compared with 43% a year earlier, reflecting higher volume and better absorption of fixed production costs.

Operating expenses increased to $4.2 million, mainly from higher sales and marketing spending for commercial expansion and SImmetry®+ rollout, and greater research and development investment. Net loss widened to $4.1 million (basic and diluted loss of $12.35 per share). Cash and cash equivalents were $1.7 million at June 30, 2026, versus $3.8 million at year-end, while current liabilities rose sharply and stockholders’ equity moved to a $1.7 million deficit.

Subsequent to quarter end, Tenon closed a public offering with $4.2 million in gross proceeds and approximately $3.6 million in net proceeds, intended in part to repay outstanding $5.2 million convertible notes maturing September 11, 2026 (extendable to December 11, 2026). The company also received FDA 510(k) clearance for an updated Catamaran® SI Joint Fusion System and highlighted record monthly case volume in July 2026. Forward-looking language cites risks including its ability to continue as a going concern, raise additional capital, and maintain Nasdaq listing compliance.

Positive

Revenue growth accelerated: Q2 2026 revenue reached $1.3 million, a 127% increase from $0.6 million in Q2 2025, supported by higher surgical procedure volume and contributions from the SImmetry®+ System.
Profitability metrics improved: Q2 2026 gross profit was $0.8 million with a 64% gross margin, up from $0.2 million and 43% a year earlier, reflecting better cost absorption.
Regulatory milestone achieved: Tenon obtained FDA 510(k) clearance for its updated Catamaran® SI Joint Fusion System, which is expected to shift several instruments from disposable to reusable and reduce recurring case costs.
New capital raised post-quarter: In July 2026 the company closed a public offering with $4.2 million gross and approximately $3.6 million net proceeds, earmarked for partial convertible note repayment and growth initiatives.

Negative

Losses increased: Q2 2026 net loss was $4.1 million versus $2.8 million in Q2 2025, driven in part by $0.9 million in non-cash interest expense related to convertible notes.
Balance sheet weakened: As of June 30, 2026, cash was $1.7 million while total liabilities were $11.7 million, and stockholders’ equity shifted to a $1.7 million deficit from positive $5.0 million at December 31, 2025.
Convertible debt maturity risk: The company has $5.2 million of convertible notes maturing on September 11, 2026 (extendable to December 11, 2026), and explicitly notes there can be no assurance it will repay or refinance these obligations in full.
Going concern and listing risks disclosed: Forward-looking statements highlight uncertainties regarding the company’s ability to continue as a going concern, raise additional capital on acceptable terms, and regain and maintain compliance with Nasdaq listing requirements.

Filing Explained

At June 30, 2026, Tenon Medical reported 330,670 common shares issued and outstanding, up from 310,036 at December 31, 2025. A higher share count can reduce existing holders’ percentage ownership if it reflects newly issued shares, but this filing does not establish or size that effect.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Q2 2026 Revenue: $1.3 million Q2 2026 Gross Margin: 64% Q2 2026 Net Loss: $4.1 million +5 more

8 metrics

Q2 2026 Revenue $1.3 million Three months ended June 30, 2026; up 127% from $0.6 million in Q2 2025

Q2 2026 Gross Margin 64% Gross profit $0.8 million on revenue of $1.3 million; 43% in Q2 2025

Q2 2026 Net Loss $4.1 million Net loss and comprehensive loss for the quarter ended June 30, 2026

Cash and Cash Equivalents $1.7 million Balance as of June 30, 2026, compared with $3.8 million at December 31, 2025

Total Liabilities $11.7 million Liabilities as of June 30, 2026, versus $5.7 million at December 31, 2025

Stockholders’ Equity (Deficit) ($1.7 million) Total stockholders’ deficit at June 30, 2026, compared with $5.0 million equity at year-end 2025

Convertible Notes Outstanding $5.2 million Convertible notes maturing September 11, 2026, extendable to December 11, 2026

July 2026 Offering Net Proceeds $3.6 million Approximate net proceeds from $4.2 million gross public offering closed after quarter end

Key Terms

FDA 510(k) clearance, convertible notes, derivative liability, contingent consideration, +2 more

6 terms

FDA 510(k) clearance regulatory

"Received FDA 510(k) Clearance for Updated Catamaran® SI Joint Fusion System"

FDA 510(k) clearance is an official approval from the U.S. Food and Drug Administration that allows medical devices to be legally sold in the United States. It indicates the device is considered safe and effective based on its similarity to already approved products. For investors, achieving 510(k) clearance can signal a company's readiness to bring a medical device to market and generate revenue.

convertible notes financial

"The Company’s $5.2 million convertible notes mature on September 11, 2026"

Convertible notes are a type of short-term loan that a company receives from investors, which can later be turned into company shares instead of being paid back in cash. They matter to investors because they offer a way to support a company early on while giving the potential to own a stake in its success if the company grows and later raises more funding.

derivative liability financial

"gains on the change in fair value of our derivative liability"

A derivative liability is an obligation a company owes because of a derivatives contract—such as an option, future, swap, or forward—that has moved against it and now has negative value. Think of it like a settled bet that turned into a bill: if market moves go the other way, the company may have to pay cash or deliver assets. Investors care because these liabilities can create sudden losses, add leverage or counterparty risk, and change a company’s true financial exposure beyond its everyday operations.

contingent consideration financial

"Current portion of contingent consideration ... Contingent consideration, net of current portion"

Contingent consideration is an additional payment agreed when one company buys another that will be paid later only if specific future targets are met, such as revenue, profit, or regulatory milestones. It matters to investors because it shifts risk between buyer and seller and affects the acquiring company's future cash flow and reported value — like promising a bonus after results are proven.

going concern financial

"statements regarding the anticipated use of proceeds ... the Company’s ability to continue as a going concern"

Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.

gross margin financial

"Gross Profit of $0.8 Million, a 232% Increase Compared to Prior Year; Gross Margin of 64%"

Gross margin is the difference between how much money a company makes from selling its products and how much it costs to produce them, expressed as a percentage of sales. It shows how efficiently a company is turning sales into profit before other expenses like marketing or salaries. Higher gross margin means the company keeps more money from each sale, which is a good sign of financial health.

Earnings Snapshot

Revenue: $1.3 million (quarter); $2.7 million (six months)

Quarter and six months ended June 30, 2026

Revenue $1.3 million (quarter); $2.7 million (six months) Quarter up 127% year over year; six months up 106% year over year

Gross Profit and Margin $0.8 million and 64% (quarter) Gross profit up 232% year over year; margin improved from 43% to 64%

Net Loss $4.1 million (quarter); $7.5 million (six months) Quarterly net loss increased from $2.8 million; six-month loss increased from $6.4 million

Net Loss Per Share $12.35 (quarter); $23.16 (six months), basic and diluted Quarterly EPS improved from $12.76 loss; six-month EPS improved from $39.91 loss

FAQ

How did Tenon Medical (TNON) perform financially in Q2 2026?

Tenon Medical reported Q2 2026 revenue of $1.3 million, up 127% from $0.6 million a year ago, with gross profit of $0.8 million and a 64% gross margin. Net loss increased to $4.1 million from $2.8 million.

What were Tenon Medical (TNON)’s cash and debt positions at June 30, 2026?

At June 30, 2026, Tenon held $1.7 million in cash and cash equivalents and reported $4.3 million of convertible notes classified as current liabilities, within total liabilities of $11.7 million, resulting in $1.7 million stockholders’ deficit.

What capital did Tenon Medical (TNON) raise after Q2 2026?

In July 2026, Tenon closed a public offering with $4.2 million gross proceeds and approximately $3.6 million net proceeds. The company plans to use these funds for partial repayment of $5.2 million convertible notes and for commercial, clinical, and development activities.

What regulatory progress did Tenon Medical (TNON) report?

Tenon received FDA 510(k) clearance for its updated Catamaran® SI Joint Fusion System. The update moves several instruments from disposable to reusable, which the company expects will lower recurring case costs for procedures using this system.

What key risks does Tenon Medical (TNON) highlight in this update?

The company notes risks related to its ability to continue as a going concern, to regain and maintain Nasdaq listing compliance, and to raise additional capital or refinance its $5.2 million convertible notes maturing in 2026.

How did Tenon Medical’s (TNON) gross margin change year over year?

Q2 2026 gross margin was 64%, compared with 43% in Q2 2025. Management attributes the 21-point improvement mainly to higher revenue and lower fixed costs, which increased absorption of production overhead within cost of goods sold.

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Understanding 8-K Material Events →

Available on EDGAR 08/13/2026 - 04:26 PM Accepted by SEC EDGAR 08/13/2026 - 04:25 PM

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

August 13, 2026

TENON MEDICAL, INC.

(Exact name of registrant as specified in its charter)

Delaware	001-41364	45-5574718
(State or other jurisdiction	(Commission File Number)	(IRS Employer
of incorporation)		Identification No.)

104 Cooper Court
Los Gatos, CA		95032
(Address of principal executive offices)		(Zip Code)

(408) 649-5760

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	TNON	The Nasdaq Stock Market LLC
Warrants	TNONW	The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging Growth Company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 13, 2026, Tenon Medical, Inc., a Delaware corporation (the “Company”), issued a press release (the “Press Release”) announcing its financial results for the second quarter ended June 30, 2026.

As previously announced and set forth in the Press Release, the Company will host a conference call to discuss its financial results for the second quarter ended June 30, 2026, provide a corporate update, and conclude with Q&A with the Company’s covering analyst, on August 13, 2026 at 4:30 p.m. ET (1:30 p.m. PT). An audio playback of the call will be available through August 27, 2026, on the Company’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 13761819.

A copy of the Press Release referenced above is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “1934 Act”), nor shall it be deemed “incorporated by reference” into any filing under the Securities Act of 1933, as amended, or the 1934 Act, except as may be expressly set forth by specific reference in such filing.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The following exhibits are being filed herewith:

Exhibit No.		Description
99.1		Press Release of Tenon Medical, Inc., dated August 13, 2026.
104		Cover Page Interactive Data File (embedded with the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.

Date: August 13, 2026	TENON MEDICAL, INC.
	(Registrant)

	By:	/s/ Steven M. Foster
	Name:	Steven M. Foster
	Title:	Chief Executive Officer and President

Exhibit 99.1

Tenon Medical Reports Second Quarter 2026 Financial Results

~ Second Quarter 2026 Revenue of $1.3 Million, a 127% Increase Compared to Prior Year ~

~ Second Quarter Gross Profit of $0.8 Million, a 232% Increase Compared to Prior Year; Gross Margin of 64% ~

~ Received FDA 510(k) Clearance for Updated Catamaran® SI Joint Fusion System ~

~ Physician and Distributor Training Events Increased 98% in 1H 2026 Compared to 2H 2025, Supporting Record Monthly Case Volume in July 2026 ~

~ Closed $4.2 Million Public Offering Subsequent to Quarter End ~

Los Gatos, CA – August 13, 2026 – Tenon Medical, Inc. (NASDAQ: TNON) (“Tenon Medical” or the “Company”), a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders, today reported financial results for the second quarter ended June 30, 2026.

Financial Results and Business Updates

●

Second Quarter 2026 Results:

Second quarter revenue of $1.3 million, an increase of 127% compared to $0.6 million in the second quarter of 2025.

Second quarter gross profit of $0.8 million, an increase of 232% compared to $0.2 million in the second quarter of 2025.

Gross margin of 64%, a twenty-one percentage point improvement from 43% in the second quarter of 2025.

Cash and cash equivalents of $1.7 million as of June 30, 2026, compared to $3.8 million as of December 31, 2025.

Net loss of $4.1 million, or $12.35 per share, in the second quarter of 2026, compared to a net loss of $2.8 million, or $12.76 per share, in the second quarter of 2025.

Subsequent Updates

●

On July 1, 2026, closed a best efforts public offering of common stock (or pre-funded warrants) and common stock purchase warrants for aggregate gross proceeds of $4.2 million, with net proceedsexpected to be used for partial repayment of convertible notes, commercial expansion, clinical research, and general corporate purposes.

●

On July 2, 2026, the Company announced it received U.S. Food and Drug Administration 510(k) clearance for the Catamaran® SI Joint Fusion System. The updated clearance incorporates various instrument upgrades, as well as the reclassification of certain instruments from disposable to reusable status, which is expected to improve system performance while reducing ongoing per-procedure costs previously associated with disposable instrumentation.

●

In July 2026, the Company recorded its highest monthly surgical case volume to date, following a 98% increase in physician and distributor training events in the first half of 2026 compared to the second half of 2025.

●

On August 10, 2026, the Company effected a 1-for-35 reverse stock split of its common stock. The Company is currently working to regain compliance with Nasdaq listing requirements, including the minimum bid price rule.

"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," said Steven M. Foster, President and CEO of Tenon Medical, Inc.

"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."

Second Quarter 2026 Financial Results

Revenue was $1.3 million in the second quarter of 2026, an increase of 127% compared to $0.6 million in the same period of 2025. Revenue for the six months ended June 30, 2026 was $2.7 million, an increase of 106% compared to $1.3 million in the six months ended June 30, 2025. The increase in revenue for the three months ended June 30, 2026 as compared to 2025 was primarily due to a significant increase in the number of surgical procedures, including the addition of revenue related to the SImmetry®+ System.

Gross profit was $0.8 million, or 64% of revenue, in the second quarter of 2026, compared to $0.2 million, or 43% of revenue, in the second quarter of 2025. For the six months ended June 30, 2026, gross profit was $1.8 million, or 66% of revenue, compared to $0.6 million, or 44% of revenue, for the six months ended June 30, 2025. The twenty-one point gross margin improvement in the three months ended June 30, 2026 was primarily driven by higher revenue and lower fixed costs in the period, driving further absorption of production overhead costs within cost of goods sold.

Operating expenses totaled $4.2 million in the second quarter of 2026, compared to $3.1 million in the second quarter of 2025. For the six months ended June 30, 2026, operating expenses totaled $8.4 million, compared to $7.1 million in the prior year period. The increase in the three months ended June 30, 2026 was primarily due to higher sales expenses associated with higher revenue, the expanded commercial team and ongoing rollout of the SImmetry®+ System, in addition to higher research and development expenses as we continue to work towards future product additions.

Net loss was $4.1 million, or $12.35 per share, in the second quarter of 2026, compared to a net loss of $2.8 million, or $12.76 per share, in the second quarter of 2025. For the six months ended June 30, 2026, net loss was $7.5 million, or $23.16 per share, compared to a net loss of $6.4 million, or $39.91 per share, in the same year ago period. The year-over-year increase in the three months ended June 30, 2026 was largely driven below the line by non-cash interest expense of $0.9 million, which includes amortization of the original issue discount related to our convertible notes, partially offset by higher other income of $0.1 million, related to gains on the change in fair value of our derivative liability.

As of June 30, 2026, cash and cash equivalents totaled $1.7 million, compared to $3.8 million at December 31, 2025. Subsequent to quarter end in July 2026, Tenon closed a public offering with gross proceeds of $4.2 million, with net proceeds of approximately $3.6 million. The Company intends to use the net proceeds for partial repayment of outstanding convertible notes, commercial expansion, clinical research, product development, and general corporate purposes.

The Company’s $5.2 million convertible notes mature on September 11, 2026 (extendable to December 11, 2026). A portion of the July 2026 offering proceeds will be used toward partial repayment; there can be no assurance the Company will repay or refinance these obligations in full.

Second Quarter 2026 Earnings Conference Call

Management will host a conference call at 4:30 p.m. ET (1:30 p.m. PT) today, August 13, 2026, to discuss Tenon's second quarter 2026 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, August 13, 2026
Time:	4:30 p.m. Eastern time
Dial-in:	1-877-407-0792
International Dial-in:	1-201-689-8263
Webcast:	TNON Conference Call

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 August 27, 2026, 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 13761819.

About Tenon Medical, Inc.

Tenon Medical, Inc. is a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders. Tenon was incorporated in the State of Delaware in 2012 and currently offers two systems to treat a diseased sacroiliac joint (the "SI Joint"). The Company 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. In August 2025, the Company acquired substantially all the assets of SiVantage, Inc. and SIMPL Medical, LLC, including the SImmetry+® SI Joint Fusion System, which treats disorders of the SI Joint through a minimally invasive lateral access solution that incorporates well-established orthopedic fusion principles. Since the national launch of The Catamaran System in October 2022, Tenon is focused on three commercial opportunities: 1) primary SI Joint procedures, 2) revision procedures of failed SI Joint implants and 3) SI-Joint fusion adjunct to a spine fusion construct.

For more information, please visit www.tenonmed.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release.

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^TM, 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 statements often contain 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 anticipated use of proceeds from the July 2026 offering, the Company’s ability to continue as a going concern, the Company’s ability to regain and maintain compliance with Nasdaq listing requirements; its plans to raise additional capital on acceptable terms or at all, the expected benefits of the updated Catamaran SI Joint Fusion System, future product development, commercial expansion plans, cost structure improvements, and anticipated case volume growth. 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, 2025 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.

IR Contact:

Shannon Devine

203-741-8811

MZ North America

tenon@mzgroup.us

Tenon Medical, Inc.

Condensed Balance Sheets (Unaudited)

(In thousands, except share data)

	June 30,			December 31,
	2026			2025
ASSETS
Current assets:
Cash and cash equivalents	$	1,677		$	3,756
Accounts receivable, net		1,947			1,698
Inventory		783			1,054
Prepaid expenses and other current assets		400			260
Total current assets		4,807			6,768
Property and equipment, net		771			918
Deposits		51			51
Operating lease right-of-use asset		1,431			131
Intangible assets, net		455			485
Goodwill		2,407			2,407
TOTAL ASSETS	$	9,922		$	10,760

Liabilities and Stockholders’ (DEFICIT) EQUITY
Current liabilities:
Accounts payable	$	628		$	845
Accrued expenses		1,952			1,637
Current portion of accrued commissions		674			590
Current portion of operating lease liability		215			141
Current portion of contingent consideration		29			—
Convertible notes		4,332			—
Derivative liability		475			—
Total current liabilities		8,305			3,213
Accrued commissions, net of current portion		1,250			1,514
Operating lease liability, net of current portion		1,131			—
Contingent consideration, net of current portion		979			993
Total liabilities		11,665			5,720
Stockholders’ (deficit) equity:
Series A convertible preferred stock, $0.001 par value; 4,500,000 shares authorized at June 30, 2026 and December 31, 2025; 204,159 shares issued and outstanding at June 30, 2026 and December 31, 2025		2,622			2,622
Series B convertible preferred stock, $0.001 par value; 491,222 shares authorized at June 30, 2026 and December 31, 2025; 86,454 shares issued and outstanding at June 30, 2026 and December 31, 2025		452			452
Common stock, $0.001 par value; 130,000,000 shares authorized at June 30, 2026 and December 31, 2025; 330,670 and 310,036 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively		—			—
Additional paid-in capital		84,011			83,268
Accumulated deficit		(88,828	)		(81,302	)
Total stockholders’ (deficit) equity		(1,743	)		5,040
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	$	9,922		$	10,760