Tenon Medical Q1 revenue rises 90% on the back of procedure volume growth

Tenon Medical

12/05/2026 21:18

Overview

U.S. SI joint device maker's Q1 revenue grew 90% yr/yr, driven by increased procedure volume

Gross profit for Q1 rose 193% yr/yr, with gross margin expanding to 68.5%

Company closed $4.3 mln senior convertible note private placement to fund expansion and development

Outlook

Company prioritizes procedure growth and expanding base of trained surgeons in coming quarters

Tenon Medical plans to use recent financing for commercial expansion, product development and clinical studies

Result Drivers

PROCEDURE GROWTH - Co said Q1 revenue growth was primarily driven by continued adoption of the Catamaran system and increased number of surgical procedures

SIMMETRY+ SYSTEM - Addition of revenue from SImmetry+ system contributed to Q1 revenue growth following its August 2025 acquisition

GROSS MARGIN EXPANSION - Higher revenue drove further absorption of production overhead costs, resulting in a 24 percentage point improvement in gross margin

Company press release: ID:nACSfksn9a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$1.38 mln
$1.30 mln (2 Analysts)
Q1 Net Income
-$3.48 mln
Q1 Operating Expenses
$4.23 mln
Q1 Operating Income
-$3.28 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the medical equipment, supplies & distribution peer group is "buy"

Wall Street's median 12-month price target for Tenon Medical Inc is $2.75, about 248.1% above its May 11 closing price of $0.79

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)