TELA Bio Inc · Q4 2020 earnings

Briefing

Reported financial results for the fourth quarter and full year ended December 31, 2020.

TELA Bio reported a 17% increase in revenue for the fourth quarter of 2020, reaching $5.7 million, driven by the expansion of the commercial organization and increased penetration within existing customer accounts. Gross profit was $3.7 million, representing 65% of revenue, an increase from 61% in the same period of the previous year. The company experienced a net loss of $7.8 million for the quarter, compared to a net loss of $6.5 million in the prior year period.

• Revenue increased by 17% to $5.7 million compared to the prior year period due to commercial expansion and increased customer penetration.
• Gross profit reached $3.7 million, representing 65% of revenue, driven by improved inventory management.
• Operating expenses increased to $10.4 million due to commercialization activities, personnel costs, and insurance premiums.
• Net loss was $7.8 million, compared to a net loss of $6.5 million in the same period in 2019.

Headline financials

Revenue & EPS history

For the full year 2021, TELA Bio expects total revenue to be in the range of $27.0 million to $30.0 million, representing growth of 48% to 65% over the prior year period.