TELA Bio, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 09, 2023 at 04:05 pm EDT
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TELA Bio, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 14.49 million compared to USD 10.41 million a year ago. Net loss was USD 10.79 million compared to USD 12.74 million a year ago. Basic loss per share from continuing operations was USD 0.46 compared to USD 0.88 a year ago.
For the six months, sales was USD 26.4 million compared to USD 18.64 million a year ago. Net loss was USD 22.82 million compared to USD 23.6 million a year ago. Basic loss per share from continuing operations was USD 1.08 compared to USD 1.62 a year ago.
TELA Bio, Inc. is a commercial-stage medical technology company. The Company is focused on providing soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patientâs own anatomy. Its first portfolio of products, the OviTex Reinforced Tissue Matrix (OviTex), addresses unmet needs in hernia repair and abdominal wall reconstruction. Its OviTex portfolio consists of multiple product configurations intended to address various surgical procedures within hernia repair and abdominal wall reconstruction, including ventral, inguinal, and hiatal hernia repair. The Company's OviTex products include OviTex 1S, OviTex 2S, and OviTex LPR. Its second portfolio of products, the OviTex PRS Reinforced Tissue Matrix (OviTex PRS), addresses unmet needs in plastic and reconstructive surgery. OviTex PRS is indicated for use in implantation to reinforce soft tissue where weakness exists in patients requiring soft-tissue repair.
TELA BIO, INC. 
