TELA Bio公佈第二季度收入跌4% 撤回全年指引並委任新CEO

EX-99.1
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tm2622768d1_ex99-1.htm
EXHIBIT 99.1

 

 

Exhibit 99.1

 

 

TELA Bio Reports Second Quarter 2026 Financial
Results

 

MALVERN, PA, August 10,
2026 -- TELA Bio, Inc. (“TELA Bio”), a commercial-stage medical technology company focused on providing innovative soft-tissue
reconstruction solutions, today reported financial results for the second quarter ended June 30, 2026.

 

Recent Highlights

●Announced appointment of Heather Getz as Chief Executive Officer
 and Director, effective August 4, 2026;

●Delivered international
 revenue growth of 26% over the prior year period, with continued momentum in several European
 markets;

●Achieved additional market share gain with OviTex unit volume
 growth of 12% over the prior year period;

●Grew LiquiFix revenue by 39% over the prior-year period; and

●Delivered $19.3 million revenue in the second quarter of 2026,
 representing a decline of 4% from the prior year period, primarily the result of a decline
 in OviTex PRS unit volumes.

 

“I am honored to join TELA Bio at such an exciting time in the
Company's evolution. One reason I joined TELA is the superiority of our differentiated product portfolio. OviTex long-term data has continuously
shown recurrence rates in the low single-digits, whereas other hernia repair materials have recurrence rates consistently 10 times higher
than that.

 

“Unfortunately, the financial performance of the business does
not reflect the superiority of the portfolio. Our second quarter revenue was negatively impacted by a decline in OviTex PRS volumes and
continued price and mix headwinds in hernia procedures. In response, we have returned to a sales structure designed to reinforce cross-selling
among our field teams, and with a clear focus on returning to growth in the second half the year,” said Heather Getz, newly appointed
Chief Executive Officer of TELA Bio.

 

“We also continue to battle against the competitive dynamics
of bundling from our largest competitors and to combat this, we have upgraded talent within our Market Access and Contracting team. We
are encouraged by several indicators of progress across the business. Hernia unit volumes grew 12% year over year, demonstrating continued
procedural market share gains, while ASP and procedure mix begin to stabilize. International revenue also continued to grow, and our
field organization is progressing toward the productivity levels we expected as newer territory managers gain experience."

 

Ms. Getz continued, “Given the confluence of these dynamics,
we are withdrawing our full year 2026 revenue guidance as I fully assess the business and strategic direction. What is clear to me is
that as we move through the second half of the year, we must improve PRS performance, accelerate our market share gains in hernia, and
translate the increasing productivity of our commercial organization into sustainable top-line growth. At the same time, we will take
decisive action to extend our cash runway and better align our cost structure with our top line.
We are focused on disciplined execution and creating long-term value for all our stakeholders.”

 

  

  

 

 

Second Quarter 2026 Financial Results

 

Revenue was $19.3 million in the second quarter of 2026, a decrease
of 4% compared to $20.2 million in the second quarter of 2025. The decrease was primarily driven by a decline in OviTex PRS volumes and
price mix headwinds, partially offset by growing international sales.

 

Gross profit was $13.9 million, or 72% of revenue, in the second quarter
of 2026, compared to $14.1

million, or 70% of revenue, in the same period in 2025. The increase
in gross margin was primarily due to a tariff refund and a lower charge for excess and obsolete inventory as a percentage of revenue.

Operating expenses were $23.2 million in both the second quarter of
2026 and 2025. There was a de minimis increase due to higher meeting and training costs and increased professional fees partially offset
by lower compensation and benefits from lower headcount, lower commission expense, and lower study costs.

 

Loss from operations was $9.3 million in the second quarter of 2026,
compared to $9.1 million in the same period in 2025.

 

Net loss was $11.3 million in the second quarter of 2026, compared
to a net loss of $9.9 million in the same period in 2025.

 

Cash and cash equivalents on June 30, 2026 were $30.4 million.

 

2026 Financial Guidance 

 

The Company has withdrawn full-year guidance and will provide an update
in the future.

 

Conference Call

 

TELA Bio will host a conference call at 4:30
p.m. Eastern Time on Monday, August 10, 2026 to discuss its second quarter financial results. Investors interested in listening to the
conference call should register online. Participants are required to register a day in advance or at minimum 15 minutes before the start
of the call. A replay of the webcast can be accessed via the Events & Presentations page of the investor section of TELA Bio's website.

 

About TELA Bio, Inc.

 

TELA Bio, Inc. (NASDAQ: TELA) is a commercial-stage medical technology
company focused on providing innovative technologies that optimize clinical outcomes by prioritizing the preservation and restoration
of the patient's own anatomy. The Company is committed to providing surgeons with advanced, economically effective soft-tissue reconstruction
solutions that leverage the patient's natural healing response while minimizing long-term exposure to permanent synthetic materials.
For more information, visit www.telabio.com.

 

  

  

 

 

Caution Regarding Forward-Looking Statements

 

This press release contains forward-looking statements within the
meaning of The Private Securities Litigation Reform Act of 1995. Words such as “may,” “might,” “will,”
“should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,”
“predict,” “forecast,” “project,” “plan,” “intend” or similar expressions,
or statements regarding intent, belief, or current expectations are forward-looking statements and reflect the current beliefs of TELA
Bio's management. Such forward-looking statements include statements relating to our expected revenue and revenue growth for the full
year 2026 and reduction in operating expenses throughout the full year 2026 compared to prior periods and our expectations regarding
new product launch and expectations on market penetration and profitability. These statements are not guarantees of future performance
and are subject to certain risks, uncertainties and other factors that could cause actual results and events to differ materially and
adversely from those indicated by such forward-looking statements including, among others: the impact to our business from macroeconomic
conditions, including recessionary concerns, banking instability, increasing market interest rates, monetary policy changes, changes
in trade policies, including tariffs and trade protection measures, and inflationary pressures, potentially impacting our ability to
market our products, including the launch of new products; demand for our products related to changes in volumes or frequency of surgical
procedures, including due to outbreak of illness or disease, cybersecurity events impacting hospital operations, potential hospital closures,
labor and hospital staffing shortages, supply chain disruptions to critical surgical and hospital supplies, pricing pressures or any
other applicable adverse healthcare economic factors; our ability to achieve or sustain profitability; our ability to gain market acceptance
for our products and to accurately forecast and meet customer demand; our ability to compete successfully; that data from earlier studies
related to our products and interim data from ongoing studies may not be replicated in later studies or indicative of future data; that
data obtained from clinical studies using our product may not be indicative of outcomes in other surgical settings; our ability to enhance
our product offerings, including successful launch of new products; our ability to maintain expanded market access; product development
and manufacturing problems; capacity constraints or delays in production of our products; maintenance of coverage and adequate reimbursement
for procedures using our products; and product defects or failures. These risks and uncertainties are described more fully in the “Risk
Factors” section and elsewhere in our filings with the Securities and Exchange Commission and available at www.sec.gov, including
in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q. Any forward-looking statements that we make in this announcement
speak only as of the date of this press release, and TELA Bio assumes no obligation to update forward-looking statements whether as a
result of new information, future events or otherwise after the date of this press release, except as required under applicable law.

 

Investor Contact
Louisa Smith

[email protected]

 

  

  

 

 

TELA Bio, Inc.

Consolidated Balance Sheets

(In thousands, except share and per share amounts)

(Unaudited)

 

 
   
 June 30,  
 December 31, 

 
   
 2026  
 2025 

 
 Assets 
     
    

 
 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 

 
   
     
    

 
 Liabilities and stockholders’ (deficit) equity 
     
    

 
 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 

 

 

  

  

 

 

TELA Bio, Inc.

Consolidated Statements of Operations and Comprehensive
Loss

(In thousands, except share and per share amounts)

(Unaudited)

 

 
   
 Three months ended June 30,  
 Six months ended June 30, 

 
   
 2026  
 2025  
 2026  
 2025 

 
 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 and diluted 
 $(0.20) 
 $(0.22) 
 $(0.41) 
 $(0.47)

 
 Weighted average common shares outstanding, basic and diluted 
  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)