<span item_type="fundamental" item_id="85dd7a6f09ffe7d58f8b32118a69f55e" counter_id="ST/US/TELA" env="prod"></span><span item_type="announcement" item_id="647650518194526209" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 19.06 M, beating the estimate of USD 19 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.21, missing the estimate of USD -0.19.</p><p></p><h4>First Quarter 2026 Financial Results</h4><h4>Revenue</h4><p>TELA Bio, Inc. reported revenue of $19.1 million in the first quarter of 2026, representing a 3% growth over the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span><span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>. Specifically, revenue was $19,059 thousand in Q1 2026, compared to $18,520 thousand in Q1 2025, with unit growth of 13% year-over-year <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. European revenue growth accelerated to 41% over the prior year period <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</p><h4>Gross Profit and Margin</h4><p>Gross profit for the first quarter of 2026 was $12,520 thousand, or 65.7% of revenue, compared to $12,512 thousand, or 67.6% of revenue, in the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. The decrease in gross margin was primarily due to a higher charge for excess and obsolete inventory as a percentage of revenue <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. Gross margin remained around 65% for Q2 2023 through Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>.</p><h4>Operating Expenses</h4><p>Total operating expenses were $23,046 thousand in the first quarter of 2026, a slight increase from $22,984 thousand in the first quarter of 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. Sales and marketing expenses were $16,537 thousand in Q1 2026, compared to $16,608 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. General and administrative expenses were $4,166 thousand in Q1 2026, up from $3,836 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. Research and development expenses were $2,343 thousand in Q1 2026, down from $2,540 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</p><h4>Loss from Operations</h4><p>Loss from operations was -$10,526 thousand in the first quarter of 2026, compared to -$10,472 thousand in the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</p><h4>Net Loss</h4><p>Net loss was -$12,273 thousand in the first quarter of 2026, compared to a net loss of -$11,264 thousand in the same period in 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</p><h4>Cash and Cash Equivalents</h4><p>Cash and cash equivalents totaled $39,541 thousand on March 31, 2026, down from $50,845 thousand on December 31, 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. As of March 31, 2026, cash and cash equivalents totaled $39.5 million <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>.</p><h4>Other Financial Data</h4><ul><li>Interest expense was -$2,053 thousand in Q1 2026, compared to -$1,219 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</li><li>Other income was $366 thousand in Q1 2026, compared to $479 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</li><li>Loss before income tax expense was -$12,213 thousand in Q1 2026, compared to -$11,212 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</li><li>Income tax expense was -$60 thousand in Q1 2026, compared to -$52 thousand in Q1 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>.</li></ul><h4>Operational Metrics</h4><ul><li><strong>Product Adoption</strong>: As of May 2026, TELA Bio, Inc. has achieved approximately 90,000 OviTex Reinforced Tissue Matrix (RTM) implantations globally and around 20,000 OviTex PRS implantations in the U.S. <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>. The company has 70+ published or presented works related to OviTex and OviTex PRS, and over 1,500 patients have been included in peer-reviewed publications <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>. TELA Bio, Inc. also has GPO access covering over 5,000 hospitals <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>.</li><li><strong>Market Opportunity</strong>: The total U.S. market opportunity is estimated at $2.6 billion, comprising $1.8 billion for hernia and abdominal wall reconstruction and $0.8 billion for plastic reconstructive surgery <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>. The U.S. hernia surgery market represents an annual opportunity of $1.8 billion, with robotic/minimally invasive surgery (MIS) compatible procedures accounting for over 1 million annually and a potential market opportunity of up to $1.2 billion <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>. The U.S. plastic and reconstructive surgery market presents an annual opportunity of approximately $800 million <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>.</li></ul><h4>Outlook / Guidance</h4><p>TELA Bio, Inc. reiterated its full year 2026 revenue guidance, projecting at least 8% growth over full year 2025 <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. The company expects second quarter 2026 revenue to be approximately $20.0 million <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-1.htm"></span>. Gross margin is expected to remain around 65% through Q1 2026 <span class="superscript" item_id="0" item_type="announcement_file" value="2" url="https://www.sec.gov/Archives/edgar/data/1561921/000110465926059393/tm2614218d1_ex99-2.htm"></span>.</p>

Tela Bio | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 19.06 M