Tenon(R) Medical Reports First Quarter 2026 Financial Results

About this update from Tenon Medical, Inc.

~ First Quarter 2026 Revenue of $1.4 Million, an Increase of Approximately 90% Compared to Prior Year ~~ First Quarter Gross Profit of $0.9 Million, an Increase of Approximately 193% Compared to Prior Year ~~ Gross Margin Expanded Approximately 24 Percentage Points Year-Over-Year to 68.5% ~~ Closed $4.3 Million Senior Convertible Note Private Placement to Fund Commercial Expansion and Product Development ~~ Subsequent to Quarter End The Company Opened a new Center of Excellence Training Center in Tampa, FL, Along with Expansion of the Company's Sales Leadership Throughout the Eastern Region~LOS GATOS, CA / ACCESS Newswire / May 12, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company redefining care for patients suffering from sacro-pelvic disorders, today reported financial results for the first quarter ended March 31, 2026.Financial Results and Business UpdatesFirst Quarter 2026 Results:First quarter revenue of $1.4 million, an increase of approximately 90% compared to $0.7 million in the first quarter of 2025.First quarter gross profit of $0.9 million, an increase of approximately 193% compared to $0.3 million in the first quarter of 2025.Gross margin of 68.5%, a twenty-four percentage point improvement from 44.5% in the first quarter of 2025.Cash and cash equivalents of $4.6 million as of March 31, 2026, compared to $3.8 million as of December 31, 2025.Net loss of $3.5 million, or $0.31 per share, in the first quarter of 2026, compared to a net loss of $3.6 million, or $1.01 per share, in the first quarter of 2025.Strengthened the Company's intellectual property portfolio with multiple Notices of Allowance from the U.S. Patent and Trademark Office for patent applications expected to issue in 2026, building on the ten patents issued in 2025 (five U.S. and five international). The portfolio currently includes 29 issued U.S. patents and 9 issued international patents, along with 31 pending U.S. and foreign applications, further reinforcing protection around the Catamaran® and SImmetry®+ SI Joint Fusion Systems.Closed a private placement of senior convertible promissory notes with institutional and high-net-worth investors for aggregate gross proceeds of $4.3 million. The Company expects to use the net proceeds for commercial expansion, product development, clinical studies, working capital and general corporate purposes....

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