TELA Bio reported its Q4 and full year 2024 financial results, achieving $17.6 million in Q4 revenue (+4% YoY) and $69.3 million for full year 2024 (+19% YoY). The company saw significant growth in unit sales volume for OviTex® and OviTex PRS products, up 33% and 31% respectively.
The newly launched OviTex IHR Reinforced Tissue Matrix sold over 1,200 units since its mid-April 2024 debut. Q4 gross profit was $11.2 million (64% margin), down from 68% in Q4 2023. Full year 2024 net loss improved to $37.8 million from $46.7 million in 2023.
Looking ahead, TELA Bio projects 2025 revenue guidance of $85.0-88.0 million, representing 23-27% growth, with Q1 2025 expected at $17.0-18.0 million. The company ended 2024 with $52.7 million in cash and expects 2025 operating expenses to remain flat compared to 2024.
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