Tenon Medical, Inc. ( (TNON) ) has released its Q4 earnings. Here is a breakdown of the information Tenon Medical, Inc. presented to its investors.
Tenon Medical, Inc., a medical device company, specializes in innovative solutions for Sacroiliac Joint (SIJ) disorders, offering the Catamaran SI Joint Fusion System, which is protected by a robust patent portfolio. The company operates within the healthcare sector, focusing on less invasive surgical procedures.
Tenon Medical reported a 12% increase in revenue for the full year 2024, reaching $3.3 million, driven by improvements in revenue per surgical procedure and enhanced sales and marketing strategies. The company also highlighted the successful interim analysis of its MAINSAIL study, reinforcing the safety and effectiveness of its Catamaran technology.
Key financial highlights include a gross profit increase of 38% to $1.7 million and a gross margin improvement to 52% for the year. Despite a net loss of $13.7 million, Tenon Medical reduced its operating expenses by restructuring sales operations. The company also secured an additional $3 million in capital to support growth initiatives.
Looking forward, Tenon Medical plans a national commercial launch of its Catamaran SE platform in mid-2025, aiming to expand its market presence and increase adoption. The company remains focused on advancing its growth through strategic sales and marketing efforts, while maintaining financial discipline.