$TELA

TELA Bio, Inc.

CIK:0001561921|SEC Filings

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Consolidated Statements of Operations and Comprehensive Loss
Revenue	$ 19,291	$ 20,197	$ 38,350	$ 38,717
Cost of revenue (excluding amortization of intangible assets)	5,253	5,997	11,697	11,910
Amortization of intangible assets	95	95	190	190
Gross profit	13,943	14,105	26,463	26,617
Operating expenses:
Sales and marketing	16,442	16,857	32,979	33,465
General and administrative	4,061	4,126	8,227	7,962
Research and development	2,723	2,203	5,066	4,743
Total operating expenses	23,226	23,186	46,272	46,170
Loss from operations	9,283	9,081	19,809	19,553
Other (expense) income:
Interest expense	(2,076)	(1,188)	(4,129)	(2,407)
Other income	157	379	523	858
Total other expense, net	(1,919)	(809)	(3,606)	(1,549)
Loss before income tax expense	(11,202)	(9,890)	(23,415)	(21,102)
Income tax expense	(60)	(33)	(120)	(85)
Net loss	$ (11,262)	$ (9,923)	$ (23,535)	$ (21,187)
Net loss per common share, basic (in dollars per share)	$ (0.2)	$ (0.22)	$ (0.41)	$ (0.47)
Net loss per common share, diluted (in dollars per share)	$ (0.2)	$ (0.22)	$ (0.41)	$ (0.47)
Weighted average common shares outstanding, basic (in shares)	57,414,360	45,365,325	57,335,875	45,316,444
Weighted average common shares outstanding, diluted (in shares)	57,414,360	45,365,325	57,335,875	45,316,444
Comprehensive loss:
Net loss	$ (11,262)	$ (9,923)	$ (23,535)	$ (21,187)
Foreign currency translation adjustment	(1)	2	(7)	3
Comprehensive loss	$ (11,263)	$ (9,921)	$ (23,542)	$ (21,184)

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net loss	$ (23,535)	$ (21,187)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	340	347
Noncash interest expense	478	260
Amortization of intangible assets	190	190
Net changes in operating lease ROU assets and liabilities	(43)	(52)
Inventory excess and obsolescence charge	1,233	910
Stock-based compensation expense	1,429	2,029
Income tax expense	120	85
Loss on disposal of fixed assets	18
Change in operating assets and liabilities:
Accounts receivable, net	682	(935)
Inventory	(1,296)	610
Prepaid expenses and other current and long-term assets	(607)	14
Accounts payable	579	(448)
Accrued expenses and other current and long-term liabilities	(180)	464
Foreign currency transaction loss	41	83
Net cash used in operating activities	(20,551)	(17,630)
Cash flows from investing activities:
Purchase of property and equipment	(178)	(146)
Proceeds from the sale of product line	607	488
Net cash provided by investing activities	429	342
Cash flows from financing activities:
Payment of accrued offering costs	(247)
Vesting of restricted stock units	1	1
Payment of withholding taxes related to stock-based compensation to employees	(94)	(180)
Proceeds from issuance of common stock under the employee stock purchase plan	27	60
Net cash used in financing activities	(313)	(119)
Effect of exchange rate on cash and cash equivalents	(36)	(286)
Net decrease in cash and cash equivalents and restricted cash	(20,471)	(17,693)
Cash and cash equivalents and restricted cash, beginning of period	51,095	52,935
Cash and cash equivalents and restricted cash, end of period	30,624	35,242
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	3,651	2,667
Supplemental disclosures of noncash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	$ 2	$ 26

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 30,424	$ 50,845
Accounts receivable, net of allowances of $522 and $287	9,637	10,347
Inventory	11,059	11,016
Prepaid expenses and other current assets	3,371	3,373
Total current assets	54,491	75,581
Property and equipment, net	2,048	2,226
Intangible assets, net	1,169	1,359
Right-of-use assets	1,379	1,502
Other long-term assets	451	500
Restricted cash	200	250
Total assets	59,738	81,418
Current liabilities:
Accounts payable	2,883	2,309
Accrued expenses and other current liabilities	15,335	15,666
Total current liabilities	18,218	17,975
Long-term debt	56,081	55,653
Other long-term liabilities	1,305	1,477
Total liabilities	75,604	75,105
Stockholders' (deficit) equity:
Preferred stock; $0.001 par value: 10,000,000 shares authorized; no shares issued and outstanding
Common stock; $0.001 par value: 200,000,000 shares authorized; 44,833,942 and 44,538,264 shares issued and outstanding at June 30, 2026 and December 31, 2025, respectively	45	44
Additional paid-in capital	405,101	403,739
Accumulated other comprehensive income	84	91
Accumulated deficit	(421,096)	(397,561)
Total stockholders' (deficit) equity	(15,866)	6,313
Total liabilities and stockholders' (deficit) equity	$ 59,738	$ 81,418