TELA Bio Reports Fourth Quarter and Full Year 2024 Financial Results

About this update from Tela Bio, Inc.

[{"type":"image","alt":"TELA Bio, Inc.","displaySize":"","headline":null,"caption":"TELA Bio, Inc.","className":"","disableSlideshowImg":false,"size":{"original":{"width":300,"height":81,"url":"https://media.zenfs.com/en/globenewswire.com/8d626409a8c31e4dc7fea09f34dc0ef7"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/7TF7cdHGILp3Xeeqsee8gQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTQyMDtoPTExMztjZj13ZWJw/https://media.zenfs.com/en/globenewswire.com/8d626409a8c31e4dc7fea09f34dc0ef7","width":300,"height":81}},"lazy":false},{"type":"text","content":"MALVERN, Pa., March 20, 2025 (GLOBE NEWSWIRE) -- 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 fourth quarter and full year ended December 31, 2024.","length":298,"tagName":"p"},{"type":"text","content":"Recent Highlights","length":17,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Delivered revenue of $17.6 million in the fourth quarter and $69.3 million for the full year 2024, representing growth of 4% and 19%, respectively, over the corresponding periods of 2023;","length":187,"tagName":"p"}]},{"val":[{"type":"text","content":"Increased demand for OviTex® and OviTex PRS Reinforced Tissue Matrix products during the full year 2024, resulting in growth in unit sales volume for each product of approximately 33% and 31%, respectively;","length":206,"tagName":"p"}]},{"val":[{"type":"text","content":"Drove expanded adoption of Company products in hernia procedures with the launch of OviTex IHR Reinforced Tissue Matrix, specifically engineered for laparoscopic and robotic-assisted inguinal hernia repair, selling over 1,200 units in 2024 from its launch in mid-April 2024;","length":274,"tagName":"p"}]},{"val":[{"type":"text","content":"Implemented cost reduction efforts with a meaningful sequential step down in OpEx from the third to the fourth quarter, with the goal to offset additional investments into our commercial organization and keep 2025 OpEx remaining at the same level as in 2024; and","length":262,"tagName":"p"}]},{"val":[{"type":"text","content":"Provided full year 2025 revenue guidance of $85.0 million to $88.0 million, representing 23% to 27% year-over-year growth.","length":122,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":10...

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