TELA Bio Q2 2024 Financials Filed

TL;DR

TELA Bio filed its Q2 2024 10-Q. Financials look stable.

AI Summary

TELA Bio, Inc. filed its 10-Q for the period ending June 30, 2024. The filing details the company's financial position, including retained earnings, additional paid-in capital, and accumulated other comprehensive income as of various dates in 2023 and 2024. Specific dollar amounts for these accounts are provided for the quarters ending March 31, 2024, June 30, 2024, and December 31, 2023, as well as June 30, 2023.

Why It Matters

This filing provides investors with the latest financial snapshot of TELA Bio, Inc., crucial for understanding the company's financial health and performance trends.

Risk Assessment

Risk Level: low — This filing is a routine quarterly financial report and does not contain immediate, significant risk-altering information.

Key Numbers

• 2024-06-30 — Reporting Period End Date (Indicates the end of the financial reporting quarter.)
• 2024-03-31 — Previous Quarter End Date (Provides a comparative point for financial performance.)
• 2023-12-31 — Prior Year End Date (Shows year-end financial standing.)
• 2023-06-30 — Prior Year Quarter End Date (Allows for year-over-year quarterly comparison.)

Key Players & Entities

• TELA Bio, Inc. (company) — Filer of the 10-Q
• 20240630 (date) — End of the reporting period
• 20240813 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value per share TELA The Nasdaq

Filing Documents

• tela-20240630x10q.htm (10-Q) — 1248KB
• tela-20240630xex10d1.htm (EX-10.1) — 13KB
• tela-20240630xex31d1.htm (EX-31.1) — 13KB
• tela-20240630xex31d2.htm (EX-31.2) — 13KB
• tela-20240630xex32d1.htm (EX-32.1) — 7KB
• tela-20240630xex32d2.htm (EX-32.2) — 7KB
• tela-20240630xex10d1001.jpg (GRAPHIC) — 8KB
• 0001558370-24-012060.txt ( ) — 5125KB
• tela-20240630.xsd (EX-101.SCH) — 31KB
• tela-20240630_cal.xml (EX-101.CAL) — 39KB
• tela-20240630_def.xml (EX-101.DEF) — 130KB
• tela-20240630_lab.xml (EX-101.LAB) — 339KB
• tela-20240630_pre.xml (EX-101.PRE) — 242KB
• tela-20240630x10q_htm.xml (XML) — 752KB

FINANCIAL INFORMATION

PART I FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 4 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 18 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 29 Item 4.

Controls and Procedures

Controls and Procedures 30

OTHER INFORMATION

PART II OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 30 Item 1A.

Risk Factors

Risk Factors 30 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 30 Item 3. Defaults Upon Senior Securities 31 Item 4. Mine Safety Disclosures 31 Item 5. Other Information 31 Item 6. Exhibits 31

Signatures

Signatures 32 1 Table of Contents CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q (this "Quarterly Report") and the documents incorporated by reference herein contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, we may, through our officers and other authorized representatives, make certain forward-looking statements in publicly released materials, both written and oral, including statements contained in filings with the Securities and Exchange Commission, press releases, and our communications with our stockholders. Forward-looking statements are neither statements of historical facts nor assurances of future performance, but instead discuss the future of our business, operations, future financial performance, future financial condition, plans, anticipated growth strategies, anticipated or perceived trends in our business, the industry in which we operate or the broader economy, and other objectives of management. In some cases, you can identify forward-looking statements by terminology such as "aim," "anticipate," "assume," "believe," "contemplate," "continue," "could," "design," "due," "estimate," "expect," "goal," "intend," "may," "objective," "plan," "predict," "positioned," "potential," "seek," "should," "target," "will," "would," the negative of such terms, and other similar expressions although not all forward-looking statements contain these identifying words. You should understand that the following important factors could affect our future results and could cause those results or other outcomes to differ materially from those expressed or implied in our forward-looking statements: estimates regarding future results of operations, financial position, research and development costs, capital requirements and our needs for additional financing; the commercial success and degree of market acceptance of our products; the introduction of

— FINANCIAL INFORMATION

PART I — FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements TELA Bio, Inc. Consolidated Balance Sheets (In thousands, except share and per share amounts) (Unaudited) June 30, December 31, 2024 2023 Assets Current assets: Cash and cash equivalents $ 26,496 $ 46,729 Accounts receivable, net of allowances of $ 298 and $ 416 9,097 9,737 Inventory 13,372 13,162 Prepaid expenses and other assets 2,144 2,098 Total current assets 51,109 71,726 Property and equipment, net 2,349 1,984 Intangible assets, net 1,929 2,119 Right-of-use assets 1,851 1,954 Other long-term assets 2,701 — Restricted cash 265 265 Total assets $ 60,204 $ 78,048 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 2,314 $ 1,667 Accrued expenses and other current liabilities 12,675 15,300 Total current liabilities 14,989 16,967 Longterm debt 40,817 40,515 Other longterm liabilities 1,528 1,685 Total liabilities 57,334 59,167 Stockholders' 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; 24,675,832 and 24,494,675 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively 25 24 Additional paid-in capital 341,897 339,655 Accumulated other comprehensive income 98 91 Accumulated deficit ( 339,150 ) ( 320,889 ) Total stockholders' equity 2,870 18,881 Total liabilities and stockholders' equity $ 60,204 $ 78,048 See accompanying notes to unaudited interim consolidated financial statements. 4 Table of Contents 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, 2024 2023 2024 2023 Revenue $ 16,091 $ 14,494 $ 32,694 $ 26,403 Cost of revenue (exclu

View Full Filing

View this 10-Q filing on SEC EDGAR