TELA Bio Reports $19 Million in Third-Quarter Revenue as Adjusted Loss Per Share Narrows
Key Facts
On November 10, 2026, TELA Bio reported revenue of $19.0 million for the third quarter ended September 30, down 8% from $20.7 million in the same period of 2025. Adjusted loss per share narrowed to $0.13, compared with an adjusted loss of $0.18 a year earlier. Adjusted net loss was $7.3 million for the quarter. The results show a divergence between declining revenue and an improved adjusted loss-per-share measure year over year. The company’s shares closed at $0.8646 in the November 9 session, according to EL7 data.
On a GAAP basis, the company reported a net loss of $9.3 million, or $0.16 per share, in the third quarter of 2026. The loss in the same period of 2025 was $8.6 million, or $0.19 per share. GAAP net loss therefore increased from a year earlier, while loss per share on this measure declined. That comparison differs from the adjusted loss result, which improved both in net loss and per-share terms. This puts adjusted and GAAP performance in different directions in the year-over-year comparison.
Gross profit was $12.3 million in the third quarter, equal to 64.9% of revenue, compared with gross profit of $14.0 million and a margin of 67.5% in the same period of 2025. The company attributed the lower margin to a higher provision for excess and obsolete inventory as a share of revenue. The declines in gross profit and margin coincided with lower revenue year over year. These figures show pressure on gross profitability during the quarter, even as adjusted loss per share narrowed from the year-earlier period. The cited statement did not provide a separate figure for the inventory provision’s impact on margin.
In the background to the results, the company’s revenue in the second quarter of 2026 was $19.3 million, down 4% from the same period a year earlier. The company then attributed the decline mainly to lower OviTex PRS unit volumes. In the same quarter, international revenue grew 26% year over year, with momentum continuing in several European markets, according to the company. These prior quarterly results provide context for the revenue trend ahead of the third-quarter release, but relate to a different period. Third-quarter revenue was reported at $19.0 million, down 8% year over year.
On liquidity, cash and cash equivalents totaled $22.7 million at September 30, 2026. The company also announced on October 5 that its Liora product had received FDA 510(k) clearance. It described the product as a fully absorbable surgical mesh for soft-tissue reinforcement. TELA Bio said Liora was the first implantable product developed entirely in its ISO 8-certified cleanroom. The regulatory announcement places the product among developments that preceded publication of the third-quarter results; the available information does not specify a subsequent launch date or expected financial impact.