Tenon Medical (NASDAQ:TNON) Issues Quarterly Earnings Results, Misses Expectations By $1.17 EPS

Tenon Medical (NASDAQ:TNON) released its earnings results on Thursday. The company reported ($5.39) EPS for the quarter, missing analysts’ consensus estimates of ($4.22) by ($1.17), FiscalAI reports. Tenon Medical had a negative return on equity of 907.60% and a negative net margin of 257.85%. The firm had revenue of $1.43 million for the quarter, compared to the consensus estimate of $1.55 million.

Here are the key takeaways from Tenon Medical’s conference call:

• Revenue and gross margin grew: Third-quarter revenue increased 22% year over year to $1.4 million, while gross margin rose to 66.3%. The company said operating expenses fell year over year and its operating loss improved to $3.1 million.
• Net loss widened: Third-quarter net loss was $6.6 million, compared with $3.3 million a year earlier, primarily due to non-cash warrant inducement expense and convertible-note interest expense.
• Debt repaid and capital raised: Tenon raised approximately $15.6 million in gross proceeds during the quarter and repaid its convertible notes in full, leaving no debt at quarter-end. It also reported about $7.1 million of availability under its ATM program.
• Commercial and product expansion underway: The company appointed a new chief revenue officer and fully launched its 3D-printed SImmetry+ lateral screw, which generated about $1.2 million during its limited launch. It is targeting a first-quarter 2027 market release for Quickstep and expects to submit an additional SImmetry+ enhancement in early December.

Tenon Medical Stock Up 2.6%

NASDAQ:TNON traded up $0.04 on Thursday, reaching $1.79. 119,521 shares of the company’s stock traded hands, compared to its average volume of 1,962,461. The stock has a 50-day simple moving average of $3.10 and a 200-day simple moving average of $15.88. The firm has a market cap of $4.81 million, a PE ratio of -0.04 and a beta of 1.43. Tenon Medical has a 12 month low of $1.57 and a 12 month high of $44.80.

Insider Activity at Tenon Medical

In other Tenon Medical news, major shareholder Financial Lp Hrt acquired 67,925 shares of the stock in a transaction dated Thursday, September 10th. The shares were acquired at an average cost of $3.63 per share, for a total transaction of $246,567.75. Following the completion of the transaction, the insider directly owned 15,839 shares of the company’s stock, valued at approximately $57,495.57. The trade was a -130.41% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In the last quarter, insiders bought 129,945 shares of company stock valued at $500,468 and sold 136,599 shares valued at $605,467. 17.71% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TNON has been the subject of a number of recent analyst reports. Wall Street Zen lowered shares of Tenon Medical from a “hold” rating to a “sell” rating in a research report on Saturday, October 31st. Weiss Ratings reissued a “sell (e+)” rating on shares of Tenon Medical in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Tenon Medical Company Profile

Tenon Medical, Inc. (NASDAQ:TNON) is a medical device company focused on developing and commercializing technologies for the treatment of sacroiliac (SI) joint dysfunction. The SI joint connects the lower spine to the pelvis and can be a source of chronic lower-back and pelvic pain. The company’s primary product is the Catamaran SIJ Fusion System, a minimally invasive surgical system designed to stabilize and fuse the SI joint through a transfixation approach. The system uses a specialized implant and delivery instruments intended to support placement across the SI joint while addressing the underlying source of instability.