<span item_type="fundamental" item_id="12800a5950f352c83f38f5c909141dcf" counter_id="ST/US/TNON" env="prod"></span><span item_type="announcement" item_id="647651847301300609" env="prod"></span><p>Revenue: As of FY2026 Q1, the actual value is USD 1.379 M.</p><p>EPS: As of FY2026 Q1, the actual value is USD -0.31, missing the estimate of USD -0.305.</p><p>EBIT: As of FY2026 Q1, the actual value is USD -3.104 M.</p><p></p><h3>Financial Performance - First Quarter 2026</h3><h4>Revenue</h4><p>Revenue for the first quarter of 2026 was $1.4 million, an increase of approximately 90% compared to $0.7 million in the first quarter of 2025. This increase was primarily driven by the continued adoption of the Catamaran system and the addition of revenue from the SImmetry®+ System following its acquisition in August 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Gross Profit and Margin</h4><p>Gross profit for the first quarter of 2026 was $0.9 million, an increase of approximately 193% compared to $0.3 million in the first quarter of 2025. Gross margin expanded by approximately 24 percentage points year-over-year, reaching 68.5% in the first quarter of 2026, up from 44.5% in the first quarter of 2025. This improvement was primarily due to higher revenue, leading to better absorption of production overhead costs. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Operating Expenses</h4><p>Total operating expenses were $4.2 million in the first quarter of 2026, compared to $4.0 million in the first quarter of 2025. Sales and marketing expenses increased to $1,858 thousand in Q1 2026 from $1,647 thousand in Q1 2025. Research and development expenses decreased to $662 thousand in Q1 2026 from $691 thousand in Q1 2025. General and administrative expenses were $1,705 thousand in Q1 2026, compared to $1,662 thousand in Q1 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Loss from Operations</h4><p>Loss from operations for the first quarter of 2026 was -$3,280 thousand, an improvement from -$3,677 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/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Net Loss</h4><p>Net loss for the first quarter of 2026 was -$3.5 million, compared to a net loss of -$3.6 million in the first quarter of 2025. The year-over-year improvement was largely driven by increased revenue and gross profit, partially offset by higher operating expenses and interest expense related to convertible notes issued in March 2026. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Cash and Cash Equivalents</h4><p>Cash and cash equivalents totaled $4.6 million as of March 31, 2026, compared to $3.8 million as of December 31, 2025. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p><h4>Other Financial and Operational Metrics</h4><ul><li><strong>Private Placement</strong>: Tenon Medical, Inc. closed a private placement of senior convertible promissory notes for aggregate gross proceeds of $4.3 million in March 2026, intended for commercial expansion, product development, clinical studies, working capital, and general corporate purposes. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></li><li><strong>Intellectual Property</strong>: The company strengthened its intellectual property portfolio with multiple Notices of Allowance for patent applications expected to issue in 2026. The portfolio includes 29 issued U.S. patents, 9 issued international patents, and 31 pending applications, reinforcing protection for its Catamaran® and SImmetry®+ SI Joint Fusion Systems. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></li><li><strong>Training and Expansion</strong>: Subsequent to the quarter end, Tenon Medical, Inc. opened a new Center of Excellence Training Center in Tampa, FL, and expanded its sales leadership throughout the Eastern Region. In the first quarter, the company hosted 21 physicians in targeted training sessions for both Catamaran® and SImmetry® systems. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></li><li><strong>Interest Expense</strong>: Interest expense for the first quarter of 2026 was -$176 thousand, compared to $0 in the prior year period. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></li></ul><h3>Outlook / Guidance</h3><p>Tenon Medical, Inc. aims to drive continued procedure growth across both Catamaran® and SImmetry®+ systems and expand its base of trained surgeons. The company also prioritizes maintaining a disciplined cost structure. Tenon Medical, Inc. believes it is well-positioned to build on its momentum and deliver increasing value to stakeholders. <span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/1560293/000121390026055085/ea029038401ex99-1.htm"></span></p>

Tenon Medical | 8-K: FY2026 Q1 Revenue: USD 1.379 M