Tenon Medical Inc
NASDAQ:TNON

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Tenon Medical Inc
NASDAQ:TNON
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Price: 0.741 USD -1.33%
Market Cap: $8m

Tenon Medical Inc
Investor Relations

Tenon Medical Inc is a US-based company operating in Health Care Equipment & Supplies industry. The company is headquartered in Los Gatos, California and currently employs 10 full-time employees. The company went IPO on 2022-04-27. Tenon Medical, Inc. is a medical device company. The firm has developed a proprietary surgical implant system, The CATAMARAN SIJ Fusion System (The CATAMARAN System), which is designed to fuse one or both sacroiliac joints (SI-Joint) to treat SI-Joint dysfunction that often causes severe lower back pain. The CATAMARAN System offers a new surgical solution that places a single implant directly into the SI joint, bridging the sacrum and ilium with a posterior inferior surgical approach. The CATAMARAN System includes instruments and implants designed to prepare and fixate the SI-Joint for fusion. The CATAMARAN System is designed specially to resist vertical shear and rotation of the joint in which it was implanted, helping stabilize the joint in preparation for eventual fusion. The company also has developed a proprietary two-dimensional (2D) placement protocol as well as a protocol for three-dimensional (3D) navigation utilizing the latest techniques in spine surgery.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 19, 2026
AI Summary
Q4 2025

Revenue: Record full-year revenue of $3.9 million, up 20% year-over-year; Q4 revenue was $1.5 million, up 92% versus Q4 2024.

Product milestone: Received FDA 510(k) clearance for the SImmetry+ SI‑Joint Fusion System and completed early clinical cases in Q4.

Margins: Gross profit expanded to $1.0 million (69% margin) in Q4, driving full-year gross margin to 60% from 52% in 2024.

Expenses & leverage: Q4 operating expenses were $3.9 million and full-year operating expenses were modestly reduced to $15.2 million, showing improved operating leverage.

Profitability trajectory: Net loss improved to $2.8 million ($0.29/share) in Q4 and $12.6 million ($1.70/share) for the year, both better than prior-year periods.

Financing: Strengthened liquidity with a $2.85 million ATM PIPE in Q4 and a subsequent $4.3 million private placement of senior convertible notes.

Commercial momentum: Increased physician engagement — 24 physicians trained in Q4 — and management expects the multi-product portfolio to accelerate adoption in 2026.

IP & pipeline: Notices of allowance received post-quarter; company now cites 29 issued U.S. patents, 9 international patents and 31 pending applications.

Key Financials
Revenue (Q4)
$1.5 million
Revenue (FY)
$3.9 million
Gross profit (Q4)
$1.0 million (69% of revenue)
Gross profit (FY)
$2.4 million (60% of revenue)
Operating expenses (Q4)
$3.9 million
Operating expenses (FY)
$15.2 million
Net loss (Q4)
$2.8 million ($0.29 per share)
Net loss (FY)
$12.6 million ($1.70 per share)
Cash and cash equivalents (quarter end)
$3.8 million
Debt
No outstanding debt at quarter end
ATM PIPE financing
$2.85 million
Private placement (subsequent event)
$4.3 million (gross proceeds)
Earnings Call Recording
Other Earnings Calls

Management

Mr. Richard M. Ferrari
Founder & Executive Chairman
No Bio Available
Mr. Steven M. Foster
CEO, President & Director
No Bio Available
Mr. Richard Ginn
Founder, CTO & Director
No Bio Available
Mr. Kevin Williamson
Chief Financial Officer
No Bio Available

Contacts

Address
CALIFORNIA
Los Gatos
104 Cooper Ct., Suite 6
Contacts
+14086495760
www.tenonmed.com
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