TELA Bio Reports Third Quarter 2026 Financial Results
Globe Newswire•10/11/2026•16:00 ET
0
Key Highlights
- ➤Q3 revenue $19.0 million, down 8% year over year
- ➤Adjusted EBITDA loss $3.4 million, improving 39% year over year
- ➤Cost reduction initiative targets $17.0 million annual operating expense savings
- ➤Cash runway extended into 2028 following strategic cost reductions
- ➤Received 510(k) clearance for Liora Monofilament Scaffold
Expert Statements
Heather Getz, Chief Executive Officer of TELA Bio
“My first quarter as CEO was focused on putting a plan in place to return TELA Bio to growth. I joined because I believe OviTex is best-in-class technology and that we are well positioned to win in an evolving soft tissue repair and reconstruction market.”
Heather Getz, Chief Executive Officer of TELA Bio
“Our cost reduction initiative allows us to thoughtfully reallocate resources, supports a return to topline growth, and extends our cash runway.”
Heather Getz, Chief Executive Officer of TELA Bio
“In the third quarter alone, we reduced our adjusted EBITDA loss by 55% versus the second quarter of 2026 while delivering sequential revenue growth in the US hernia market and continued year-over-year growth in Europe.”
Heather Getz, Chief Executive Officer of TELA Bio
“Clinically, we continued to demonstrate the strength in our portfolio with four new peer-reviewed publications and podium presentations on both OviTex and OviTex PRS demonstrating favorable outcomes compared to gold standard synthetic and biologic alternatives.”
Heather Getz, Chief Executive Officer of TELA Bio
“Commercially, we gained market share across the OviTex hernia portfolio, which gives us conviction that our products deliver significant value for patients, clinicians and hospital administrators.”
Heather Getz, Chief Executive Officer of TELA Bio
“Looking ahead, we see ample opportunity for growth, and our team is focused on executing our long-term strategy.”
Reduced sequential operating loss by 21%, including cost of realignment
MALVERN, Pa., Nov. 10, 2026 (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 third quarter ended September 30, 2026.
Get started
Create a free account to read the full story.