What is TELA Bio's operating income?

TELA Bio's total operating income in 2025 was -$33.76 million, based on the following breakdown: Total Gross Profit: $54.34 million Total Operating Expenses: $88.10 million

TELA Bio (TELA) Financials

$0.75 -0.07 (-8.17%)

Closing price 07/14/2026 04:00 PM Eastern

Extended Trading

$0.75 +0.00 (+0.07%)

As of 07/14/2026 05:42 PM Eastern

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Annual Income Statements for TELA Bio

This table shows TELA Bio's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-30	-30	-29	-33	-44	-47	-38	-39
Consolidated Net Income / (Loss)	-21	-22	-29	-33	-44	-47	-38	-39
Net Income / (Loss) Continuing Operations	-21	-22	-29	-33	-44	-47	-38	-39
Total Pre-Tax Income	-21	-22	-29	-33	-44	-47	-38	-39
Total Operating Income	-18	-19	-25	-29	-39	-44	-34	-34
Total Gross Profit	2.94	9.27	11	19	27	40	46	54
Total Revenue	8.27	15	18	29	41	58	69	80
Operating Revenue	8.27	15	18	29	41	58	69	80
Total Cost of Revenue	5.33	6.17	6.68	11	14	18	23	26
Operating Cost of Revenue	5.33	6.17	6.68	11	14	18	23	26
Total Operating Expenses	21	28	37	48	66	84	81	88
Selling, General & Admin Expense	4.90	6.22	10	12	14	15	15	16
Marketing Expense	14	18	22	29	43	60	65	63
Research & Development Expense	4.34	4.15	4.26	6.74	8.94	9.62	8.81	9.22
Total Other Income / (Expense), net	-3.31	-3.26	-3.56	-3.83	-5.29	-2.59	-3.87	-4.85
Interest Expense	3.62	3.61	3.56	3.60	5.28	5.22	5.29	6.13
Other Income / (Expense), net	0.31	0.35	-	-0.23	-0.01	2.63	1.42	1.29
Income Tax Expense	-	-	-	-	0.00	0.00	-0.14	0.23
Basic Earnings per Share	($101.41)	($17.10)	($2.23)	($2.30)	($2.72)	($2.04)	($1.33)	($0.83)
Weighted Average Basic Shares Outstanding	294.99K	1.77M	12.93M	14.47M	16.27M	22.87M	28.53M	46.95M
Diluted Earnings per Share	($101.41)	($17.10)	($2.23)	($2.30)	($2.72)	($2.04)	($1.33)	($0.83)
Weighted Average Diluted Shares Outstanding	294.99K	1.77M	12.93M	14.47M	16.27M	22.87M	28.53M	46.95M
Weighted Average Basic & Diluted Shares Outstanding	294.99K	1.77M	12.93M	14.55M	19.22M	24.65M	39.55M	44.74M

This table shows TELA Bio's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-11	-13	-5.66	-13	-10	-9.21	-11	-9.92	-8.60	-9.04	-12
Consolidated Net Income / (Loss)	-11	-13	-5.66	-13	-10	-9.21	-11	-9.92	-8.60	-9.04	-12
Net Income / (Loss) Continuing Operations	-11	-13	-5.66	-13	-10	-9.21	-11	-9.92	-8.60	-9.04	-12
Total Pre-Tax Income	-11	-13	-5.66	-13	-10	-9.35	-11	-9.89	-8.60	-8.90	-12
Total Operating Income	-10	-12	-4.83	-12	-9.37	-8.35	-10	-9.08	-7.55	-6.65	-11
Total Gross Profit	10	12	11	11	13	11	13	14	14	14	13
Total Revenue	15	17	17	16	19	18	19	20	21	21	19
Operating Revenue	15	17	17	16	19	18	19	20	21	21	19
Total Cost of Revenue	4.66	4.99	5.27	5.02	6.10	6.43	5.91	6.09	6.72	6.73	6.44
Operating Cost of Revenue	4.66	4.99	5.27	5.02	6.10	6.43	5.91	6.09	6.72	6.73	6.44
Total Operating Expenses	21	24	16	23	22	20	23	23	22	20	23
Selling, General & Admin Expense	3.73	4.05	3.83	3.62	3.68	3.59	3.84	4.13	3.95	3.78	4.17
Marketing Expense	14	17	18	17	16	14	17	17	15	14	17
Research & Development Expense	2.37	2.69	2.39	2.32	2.07	2.03	2.54	2.20	2.35	2.13	2.34
Total Other Income / (Expense), net	-0.78	-0.61	-0.84	-1.03	-1.01	-1.00	-0.74	-0.81	-1.05	-2.25	-1.69
Interest Expense	1.33	1.35	1.33	1.33	1.34	1.28	1.22	1.19	1.20	2.53	2.05
Other Income / (Expense), net	0.56	0.73	0.50	0.30	0.34	0.29	0.48	0.38	0.15	0.28	0.37
Income Tax Expense	-	-	0.00	0.00	0.00	-	0.05	0.03	0.00	0.15	0.06
Basic Earnings per Share	($0.45)	($0.50)	($0.23)	($0.51)	($0.42)	($0.17)	($0.25)	($0.22)	($0.19)	($0.17)	($0.21)
Weighted Average Basic Shares Outstanding	24.48M	22.87M	24.58M	24.66M	24.70M	28.53M	45.27M	45.37M	45.42M	46.95M	57.26M
Diluted Earnings per Share	($0.45)	($0.50)	($0.23)	($0.51)	($0.42)	($0.17)	($0.25)	($0.22)	($0.19)	($0.17)	($0.21)
Weighted Average Diluted Shares Outstanding	24.48M	22.87M	24.58M	24.66M	24.70M	28.53M	45.27M	45.37M	45.42M	46.95M	57.26M
Weighted Average Basic & Diluted Shares Outstanding	24.49M	24.65M	24.66M	24.71M	39.39M	39.55M	39.55M	39.62M	40.34M	44.74M	44.77M

This table details how cash moves in and out of TELA Bio's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	5.93	28	29	-30	-1.91	4.98	5.94	-1.84
Net Cash From Operating Activities	-20	-26	-24	-30	-41	-41	-42	-28
Net Cash From Continuing Operating Activities	-20	-26	-24	-30	-41	-41	-42	-28
Net Income / (Loss) Continuing Operations	-21	-22	-29	-33	-44	-47	-38	-39
Consolidated Net Income / (Loss)	-21	-22	-29	-33	-44	-47	-38	-39
Depreciation Expense	0.46	0.28	0.22	0.23	0.38	0.43	0.63	0.63
Amortization Expense	0.79	0.30	0.30	0.30	0.80	0.38	0.38	0.38
Non-Cash Adjustments To Reconcile Net Income	4.35	2.56	3.90	5.78	8.12	6.67	0.07	8.18
Changes in Operating Assets and Liabilities, net	-4.48	-6.24	-0.09	-3.47	-5.76	-1.67	-4.83	1.42
Net Cash From Investing Activities	-1.56	-12	9.12	-0.63	-1.87	-0.60	4.45	0.85
Net Cash From Continuing Investing Activities	-1.56	-12	9.12	-0.63	-1.87	-0.60	4.45	0.85
Purchase of Property, Plant & Equipment	-0.06	-0.20	-0.17	-0.63	-0.87	-0.61	-0.99	-0.45
Sale of Property, Plant & Equipment	0.00	-	-	0.00	0.00	0.01	5.44	1.29
Net Cash From Financing Activities	27	66	44	0.59	41	46	43	26
Net Cash From Continuing Financing Activities	27	66	44	0.59	41	46	43	26
Repayment of Debt	-20	-	0.00	0.00	-33	0.00	0.00	-46
Issuance of Debt	44	51	0.00	0.00	40	0.00	0.00	60
Issuance of Common Equity	0.00	0.00	45	0.04	0.05	0.09	0.28	0.11
Other Financing Activities, net	0.01	0.01	0.18	0.55	34	46	43	12
Effect of Exchange Rate Changes	0.00	-0.00	0.02	0.01	-0.14	0.16	0.03	-0.22
Cash Interest Paid	1.09	3.09	2.98	2.93	3.39	4.62	4.07	4.72

This table details how cash moves in and out of TELA Bio's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-7.06	-11	-9.59	-11	-9.20	35	-9.84	-7.86	-5.28	21	-11
Net Cash From Operating Activities	-6.97	-11	-14	-11	-8.98	-7.53	-9.73	-7.91	-5.72	-4.87	-11
Net Cash From Continuing Operating Activities	-6.97	-11	-14	-11	-8.98	-7.53	-9.73	-7.91	-5.72	-4.87	-11
Net Income / (Loss) Continuing Operations	-11	-13	-5.66	-13	-10	-9.21	-11	-9.92	-8.60	-9.04	-12
Consolidated Net Income / (Loss)	-11	-13	-5.66	-13	-10	-9.21	-11	-9.92	-8.60	-9.04	-12
Depreciation Expense	0.12	0.07	0.14	0.15	0.17	0.17	0.17	0.18	0.15	0.13	0.17
Amortization Expense	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10	0.10
Non-Cash Adjustments To Reconcile Net Income	1.96	1.66	-5.81	1.57	1.97	2.48	1.92	1.37	2.02	2.93	2.08
Changes in Operating Assets and Liabilities, net	1.81	0.02	-3.14	0.08	-0.85	-1.07	-0.65	0.38	0.61	1.02	-1.24
Net Cash From Investing Activities	-0.13	-0.19	4.70	0.07	-0.12	-0.19	0.14	0.20	0.31	0.19	0.19
Net Cash From Continuing Investing Activities	-0.13	-0.19	4.70	0.07	-0.12	-0.19	0.14	0.20	0.31	0.19	0.19
Purchase of Property, Plant & Equipment	-0.13	-0.21	-0.30	-0.30	-0.12	-0.26	-0.03	-0.11	-0.21	-0.09	-0.12
Sale of Property, Plant & Equipment	-	0.01	5.00	0.37	-	0.07	0.17	0.32	0.52	0.28	0.31
Net Cash From Financing Activities	0.07	0.02	0.06	-0.01	0.10	43	-0.12	-0.00	0.02	26	-0.30
Net Cash From Continuing Financing Activities	0.07	0.02	0.06	-0.01	0.10	43	-0.12	-0.00	0.02	26	-0.30
Repurchase of Common Equity	-	-	-	-	-	-	0.00	-	-	-	-0.25
Issuance of Common Equity	0.08	-46	0.16	-	0.12	-	0.06	-	0.05	-	0.03
Other Financing Activities, net	-0.00	46	-0.11	-0.01	-0.02	43	-0.18	-0.00	-0.02	12	-0.08
Effect of Exchange Rate Changes	-0.03	0.01	0.05	-0.01	-0.19	0.18	-0.13	-0.15	0.10	-0.04	-0.03
Cash Interest Paid	1.18	1.19	1.18	1.18	1.19	0.52	1.37	1.30	1.31	0.74	1.82

This table presents TELA Bio's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	27	68	86	63	68	78	87	81
Total Current Assets	23	64	83	59	62	72	78	76
Cash & Equivalents	17	45	74	44	42	47	53	51
Accounts Receivable	1.30	2.84	2.68	4.23	6.62	9.74	10	10
Inventories, net	4.35	4.60	3.91	7.66	12	13	13	11
Prepaid Expenses	0.33	2.31	2.24	3.23	2.02	2.10	2.52	3.37
Plant, Property, & Equipment, net	0.76	0.68	0.63	1.19	1.68	1.98	2.34	2.23
Total Noncurrent Assets	3.22	2.91	2.61	2.30	3.73	4.34	6.16	3.61
Intangible Assets	-	2.91	2.61	2.30	2.50	2.12	1.74	1.36
Other Noncurrent Operating Assets	0.00	-	-	0.00	1.23	2.22	4.28	2.25
Total Liabilities & Shareholders' Equity	27	68	86	63	68	78	87	81
Total Liabilities	41	37	37	42	54	59	58	75
Total Current Liabilities	9.56	6.71	6.61	11	12	17	16	18
Accounts Payable	3.42	3.17	0.65	2.41	1.53	1.67	2.15	2.31
Accrued Expenses	5.15	3.54	5.95	8.16	11	15	13	16
Total Noncurrent Liabilities	31	30	31	32	41	42	43	57
Long-Term Debt	-	30	31	0.00	40	41	41	56
Other Noncurrent Operating Liabilities	1.65	0.00	0.00	0.38	1.23	1.69	1.39	1.48
Total Equity & Noncontrolling Interests	-138	31	49	20	14	19	28	6.31
Total Preferred & Common Equity	-138	31	49	20	14	19	28	6.31
Preferred Stock	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-138	31	49	20	14	19	28	6.31
Common Stock	-	199	246	250	288	340	387	404
Retained Earnings	-138	-168	-197	-230	-274	-321	-359	-398
Accumulated Other Comprehensive Income / (Loss)	0.00	-0.02	-0.07	-0.05	0.15	0.09	0.09	0.09

This table presents TELA Bio's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	87	72	60	53	77	68	62	70
Total Current Assets	82	63	51	44	70	61	56	64
Cash & Equivalents	58	37	26	17	43	35	30	40
Accounts Receivable	8.07	9.96	9.10	11	11	11	11	9.72
Inventories, net	14	14	13	14	14	11	12	12
Prepaid Expenses	1.66	1.92	2.14	2.01	2.82	3.16	3.50	2.83
Plant, Property, & Equipment, net	1.75	2.33	2.35	2.42	2.20	2.17	2.21	2.16
Total Noncurrent Assets	3.32	6.89	6.75	6.46	5.31	4.63	3.33	3.43
Intangible Assets	2.21	2.02	1.93	1.83	1.64	1.55	1.45	1.26
Other Noncurrent Operating Assets	1.10	4.87	4.82	4.63	3.57	3.01	1.81	2.17
Total Liabilities & Shareholders' Equity	87	72	60	53	77	68	62	70
Total Liabilities	57	57	57	59	59	58	60	75
Total Current Liabilities	15	15	15	17	17	19	17	18
Accounts Payable	3.09	3.36	2.31	2.48	4.00	1.74	2.37	3.89
Accrued Expenses	12	12	13	14	13	14	15	14
Total Noncurrent Liabilities	41	42	42	42	43	39	43	57
Long-Term Debt	40	41	41	41	41	38	41	56
Other Noncurrent Operating Liabilities	1.07	1.61	1.53	1.46	1.32	1.24	1.56	1.39
Total Equity & Noncontrolling Interests	31	14	2.87	-6.27	18	9.18	1.56	-5.20
Total Preferred & Common Equity	31	14	2.87	-6.27	18	9.18	1.56	-5.20
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	31	14	2.87	-6.27	18	9.18	1.56	-5.20
Common Stock	338	341	342	343	388	389	390	405
Retained Earnings	-308	-327	-339	-350	-370	-380	-389	-410
Accumulated Other Comprehensive Income / (Loss)	0.14	0.10	0.10	0.15	0.09	0.09	0.09	0.09

This table displays calculated financial ratios and metrics derived from TELA Bio's official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
DEI Shares Outstanding	0.00	11,405,543.00	14,432,285.00	14,503,570.00	19,159,145.00	24,488,803.00	-	40,341,535.00
DEI Adjusted Shares Outstanding	0.00	11,405,543.00	14,432,285.00	14,503,570.00	19,159,145.00	24,488,803.00	-	40,341,535.00
DEI Earnings Per Adjusted Shares Outstanding	0.00	-2.65	-2.00	-2.29	-2.31	-1.91	-	-0.96
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	86.68%	17.91%	61.77%	40.58%	41.13%	18.56%	15.84%
EBITDA Growth	0.00%	-12.42%	-35.74%	-17.75%	-29.80%	-7.41%	22.03%	0.71%
EBIT Growth	0.00%	-7.72%	-34.33%	-17.42%	-31.46%	-6.21%	21.10%	0.69%
NOPAT Growth	0.00%	-7.76%	-31.90%	-16.52%	-32.45%	-12.99%	22.60%	1.06%
Net Income Growth	0.00%	-6.32%	-28.40%	-15.57%	-33.12%	-5.35%	18.91%	-2.62%
EPS Growth	0.00%	83.14%	86.96%	-3.14%	-18.26%	25.00%	34.80%	37.59%
Operating Cash Flow Growth	0.00%	-28.10%	4.18%	-24.44%	-33.90%	-0.27%	-1.81%	32.16%
Free Cash Flow Firm Growth	0.00%	0.00%	22.33%	-37.99%	-39.60%	1.67%	10.19%	36.58%
Invested Capital Growth	0.00%	627.33%	-17.51%	40.28%	59.34%	3.81%	33.51%	-34.24%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	10.12%	8.51%	10.13%	0.95%	4.18%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	-4.06%	-4.78%	-0.62%	10.15%	5.00%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	-3.98%	-4.82%	-0.50%	9.61%	4.97%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	-3.18%	-4.80%	-6.88%	10.32%	4.81%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	-2.55%	-3.17%	-6.65%	8.87%	0.43%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-2.68%	5.23%	-2.51%	19.88%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	-5.89%	0.33%	-8.89%	-3.54%	-0.17%	7.80%	8.62%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-8.00%	4.34%	10.17%	14.09%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	41.61%	38.02%	-0.36%	-2.79%	-16.62%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	35.56%	60.03%	61.68%	63.85%	65.30%	68.62%	67.08%	67.69%
EBITDA Margin	-196.04%	-118.05%	-135.89%	-98.92%	-91.34%	-69.51%	-45.72%	-39.19%
Operating Margin	-214.91%	-124.06%	-138.77%	-99.96%	-94.18%	-75.40%	-49.23%	-42.05%
EBIT Margin	-211.12%	-121.82%	-138.77%	-100.73%	-94.20%	-70.90%	-47.18%	-40.45%
Profit (Net Income) Margin	-254.92%	-145.18%	-158.10%	-112.94%	-106.95%	-79.83%	-54.60%	-48.37%
Tax Burden Percent	100.00%	100.00%	100.91%	100.00%	100.00%	100.00%	99.62%	100.60%
Interest Burden Percent	120.75%	119.18%	112.90%	112.12%	113.53%	112.60%	116.18%	118.89%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-500.22%	-292.99%	-314.34%	-274.97%	-248.12%	-161.47%	-168.58%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-348.62%	-260.30%	-269.13%	-41.31%	132.10%	-4.26%	282.67%
Return on Net Nonoperating Assets (RNNOA)	0.00%	240.25%	221.00%	218.06%	17.46%	-33.11%	1.60%	-54.78%
Return on Equity (ROE)	153.84%	-259.97%	-72.00%	-96.28%	-257.51%	-281.23%	-159.87%	-223.35%
Cash Return on Invested Capital (CROIC)	0.00%	-321.64%	-273.80%	-347.86%	-320.73%	-251.86%	-190.17%	-127.26%
Operating Return on Assets (OROA)	-64.16%	-39.55%	-32.74%	-39.84%	-59.84%	-56.81%	-39.72%	-38.66%
Return on Assets (ROA)	-77.47%	-47.14%	-37.30%	-44.67%	-67.94%	-63.97%	-45.97%	-46.23%
Return on Common Equity (ROCE)	1,546.97%	1,610.84%	-72.00%	-96.28%	-257.51%	-281.23%	-159.87%	-223.35%
Return on Equity Simple (ROE_SIMPLE)	15.30%	-72.43%	-58.73%	-165.57%	-309.65%	0.00%	-132.97%	0.00%
Net Operating Profit after Tax (NOPAT)	-12	-13	-18	-21	-27	-31	-24	-24
NOPAT Margin	-150.44%	-86.84%	-97.14%	-69.97%	-65.93%	-52.78%	-34.46%	-29.43%
Net Nonoperating Expense Percent (NNEP)	69.41%	-151.60%	-32.69%	-45.21%	-233.67%	-380.22%	-157.21%	-451.25%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-50.36%	-51.94%	-34.32%	-38.13%
Cost of Revenue to Revenue	64.44%	39.97%	36.65%	36.15%	34.70%	30.73%	32.92%	31.83%
SG&A Expenses to Revenue	59.21%	40.29%	55.69%	42.29%	33.47%	25.47%	21.24%	19.55%
R&D to Revenue	52.44%	26.87%	23.36%	22.89%	21.58%	16.46%	12.72%	11.49%
Operating Expenses to Revenue	250.47%	184.09%	200.46%	163.81%	159.47%	144.03%	116.31%	109.74%
Earnings before Interest and Taxes (EBIT)	-17	-19	-25	-30	-39	-41	-33	-32
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-16	-18	-25	-29	-38	-41	-32	-31
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	4.77	4.43	9.24	15.40	8.59	4.18	7.54
Price to Tangible Book Value (P/TBV)	0.00	5.27	4.68	10.43	18.66	9.67	4.45	9.61
Price to Revenue (P/Rev)	6.28	9.56	11.92	6.30	5.32	2.77	1.72	0.59
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	18.64	31.78	18.51	17.88	12.31	6.35	4.71
Enterprise Value to Revenue (EV/Rev)	19.20	7.99	9.53	4.81	5.27	2.67	1.55	0.65
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.98	0.63	0.00	2.79	2.15	1.45	8.82
Long-Term Debt to Equity	0.00	0.98	0.63	0.00	2.79	2.15	1.45	8.82
Financial Leverage	-0.91	-0.69	-0.85	-0.81	-0.42	-0.25	-0.38	-0.19
Leverage Ratio	-1.99	5.52	1.93	2.16	3.79	4.40	3.48	4.83
Compound Leverage Factor	-2.40	6.57	2.18	2.42	4.30	4.95	4.04	5.74
Debt to Total Capital	0.00%	49.41%	38.60%	0.00%	73.62%	68.21%	59.10%	89.81%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	49.41%	38.60%	0.00%	73.62%	68.21%	59.10%	89.81%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	-905.54%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	1,005.54%	50.59%	61.40%	100.00%	26.38%	31.79%	40.90%	10.19%
Debt to EBITDA	0.00	-1.66	-1.25	0.00	-1.06	-1.00	-1.30	-1.77
Net Debt to EBITDA	0.00	1.34	1.76	0.00	0.06	0.15	0.36	-0.15
Long-Term Debt to EBITDA	0.00	-1.66	-1.25	0.00	-1.06	-1.00	-1.30	-1.77
Debt to NOPAT	0.00	-2.25	-1.74	0.00	-1.46	-1.31	-1.72	-2.36
Net Debt to NOPAT	0.00	1.81	2.46	0.00	0.08	0.20	0.48	-0.20
Long-Term Debt to NOPAT	0.00	-2.25	-1.74	0.00	-1.46	-1.31	-1.72	-2.36
Altman Z-Score	-7.54	-0.73	0.60	-2.69	-3.59	-4.27	-4.15	-5.94
Noncontrolling Interest Sharing Ratio	-905.54%	719.63%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	2.43	9.58	12.60	5.58	5.03	4.23	5.01	4.20
Quick Ratio	1.94	8.55	11.67	4.55	3.92	3.33	4.02	3.40
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-21	-17	-23	-32	-31	-28	-18
Operating Cash Flow to CapEx	-34,351.72%	-12,955.84%	-14,644.31%	-4,853.59%	-4,672.94%	-6,820.87%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	0.00	-5.90	-4.64	-6.34	-6.03	-6.00	-5.32	-2.91
Operating Cash Flow to Interest Expense	-5.50	-7.07	-6.86	-8.46	-7.72	-7.82	-7.86	-4.60
Operating Cash Flow Less CapEx to Interest Expense	-5.51	-7.13	-6.91	-8.63	-7.88	-7.94	-7.02	-4.46
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.30	0.32	0.24	0.40	0.64	0.80	0.84	0.96
Accounts Receivable Turnover	6.37	7.47	6.60	8.52	7.63	7.15	6.99	7.85
Inventory Turnover	1.23	1.38	1.57	1.84	1.48	1.44	1.76	2.15
Fixed Asset Turnover	10.92	21.53	27.96	32.52	28.88	31.89	32.05	35.15
Accounts Payable Turnover	1.56	1.87	3.49	6.95	7.28	11.22	11.96	11.47
Days Sales Outstanding (DSO)	57.26	48.84	55.30	42.85	47.83	51.07	52.24	46.48
Days Inventory Outstanding (DIO)	297.64	264.59	232.67	198.18	246.95	253.56	207.55	169.95
Days Payable Outstanding (DPO)	234.18	194.86	104.52	52.54	50.13	32.53	30.51	31.82
Cash Conversion Cycle (CCC)	120.72	118.58	183.45	188.49	244.65	272.10	229.27	184.61
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	-1.26	6.62	5.46	7.66	12	13	17	11
Invested Capital Turnover	-6.59	5.76	3.02	4.49	4.17	4.70	4.69	5.73
Increase / (Decrease) in Invested Capital	0.00	7.87	-1.16	2.20	4.54	0.47	4.25	-5.79
Enterprise Value (EV)	159	123	173	142	218	156	107	52
Market Capitalization	52	148	217	186	220	162	119	48
Book Value per Share	($467.34)	$2.71	$3.40	$1.39	$0.75	$0.77	$0.72	$0.16
Tangible Book Value per Share	($478.24)	$2.46	$3.22	$1.23	$0.62	$0.68	$0.68	$0.12
Total Capital	-14	61	80	20	54	59	70	62
Total Debt	0.00	30	31	0.00	40	41	41	56
Total Long-Term Debt	0.00	30	31	0.00	40	41	41	56
Net Debt	-17	-24	-44	-44	-2.10	-6.21	-12	4.81
Capital Expenditures (CapEx)	0.06	0.20	0.17	0.63	0.87	0.60	-4.45	-0.85
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-3.58	3.03	2.23	4.55	8.03	8.03	9.80	6.76
Debt-free Net Working Capital (DFNWC)	14	58	77	48	50	55	62	58
Net Working Capital (NWC)	14	58	77	48	50	55	62	58
Net Nonoperating Expense (NNE)	8.64	9.01	11	13	17	16	14	15
Net Nonoperating Obligations (NNO)	12	-24	-44	-12	-2.10	-6.21	-12	4.81
Total Depreciation and Amortization (D&A)	1.25	0.58	0.53	0.54	1.19	0.81	1.01	1.01
Debt-free, Cash-free Net Working Capital to Revenue	-43.30%	19.64%	12.22%	15.44%	19.38%	13.74%	14.15%	8.42%
Debt-free Net Working Capital to Revenue	165.52%	373.05%	420.69%	164.55%	120.83%	93.68%	90.15%	71.76%
Net Working Capital to Revenue	165.52%	373.05%	420.69%	164.55%	120.83%	93.68%	90.15%	71.76%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($2.23)	($2.30)	($2.72)	($2.04)	($1.33)	($0.83)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	14.44M	14.47M	16.27M	22.87M	28.53M	46.95M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($2.23)	($2.30)	($2.72)	($2.04)	($1.33)	($0.83)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	14.44M	14.47M	16.27M	22.87M	28.53M	46.95M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	($2.23)	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	12.93M	14.55M	19.22M	24.65M	39.55M	44.74M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-13	-18	-21	-27	-31	-29	-24
Normalized NOPAT Margin	-168.71%	-86.84%	-97.14%	-69.97%	-65.93%	-52.78%	-42.12%	-29.43%
Pre Tax Income Margin	-254.92%	-145.18%	-156.67%	-112.94%	-106.95%	-79.83%	-54.81%	-48.09%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-4.82	-5.21	-7.09	-8.25	-7.39	-7.93	-6.18	-5.29
NOPAT to Interest Expense	-3.43	-3.72	-4.96	-5.73	-5.17	-5.91	-4.51	-3.85
EBIT Less CapEx to Interest Expense	-4.84	-5.27	-7.14	-8.43	-7.56	-8.05	-5.34	-5.16
NOPAT Less CapEx to Interest Expense	-3.45	-3.77	-5.01	-5.91	-5.34	-6.02	-3.67	-3.71
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-1.81%	0.00%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from TELA Bio's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	24,487,451.00	24,488,803.00	24,649,595.00	24,655,371.00	24,713,798.00	-	39,551,098.00	39,554,989.00	39,616,440.00	40,341,535.00	44,740,371.00
DEI Adjusted Shares Outstanding	24,487,451.00	24,488,803.00	24,649,595.00	24,655,371.00	24,713,798.00	-	39,551,098.00	39,554,989.00	39,616,440.00	40,341,535.00	44,740,371.00
DEI Earnings Per Adjusted Shares Outstanding	-0.45	-0.53	-0.23	-0.51	-0.42	-	-0.28	-0.25	-0.22	-0.22	-0.27
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	34.89%	46.26%	39.42%	11.02%	25.94%	3.83%	11.55%	25.52%	9.14%	18.24%	2.91%
EBITDA Growth	0.76%	-23.31%	61.24%	-18.78%	6.80%	31.46%	-137.51%	23.48%	18.38%	21.24%	-1.75%
EBIT Growth	0.61%	-22.31%	59.85%	-18.72%	6.18%	30.11%	-130.84%	22.78%	18.01%	21.04%	-1.67%
NOPAT Growth	-7.32%	-30.08%	57.12%	-11.66%	8.01%	31.96%	-116.99%	21.51%	19.34%	20.42%	-0.52%
Net Income Growth	-2.27%	-29.17%	52.93%	-16.77%	5.34%	28.56%	-98.98%	21.25%	17.06%	1.81%	-8.96%
EPS Growth	29.69%	-11.11%	63.49%	-10.87%	6.67%	66.00%	-8.70%	56.86%	54.76%	0.00%	16.00%
Operating Cash Flow Growth	8.90%	-0.62%	-24.28%	5.03%	-28.92%	31.85%	32.39%	26.10%	36.34%	35.33%	-14.86%
Free Cash Flow Firm Growth	-9.18%	18.76%	33.12%	12.78%	-2.19%	-11.40%	27.00%	53.99%	89.07%	111.27%	67.82%
Invested Capital Growth	43.80%	3.81%	36.90%	14.98%	36.84%	33.51%	-7.49%	-9.31%	-23.33%	-34.24%	-32.85%
Revenue Q/Q Growth	3.85%	12.93%	-2.32%	-3.08%	17.81%	-6.90%	4.94%	9.06%	2.44%	0.87%	-8.67%
EBITDA Q/Q Growth	-1.37%	-21.04%	64.03%	-169.11%	20.46%	10.98%	-24.64%	13.30%	15.16%	14.09%	-61.02%
EBIT Q/Q Growth	-1.38%	-19.97%	62.50%	-160.31%	19.89%	10.62%	-23.84%	12.92%	14.94%	13.93%	-59.47%
NOPAT Q/Q Growth	1.75%	-20.60%	60.69%	-139.74%	19.06%	10.80%	-25.35%	13.28%	16.82%	11.99%	-58.33%
Net Income Q/Q Growth	-1.55%	-17.64%	56.08%	-122.58%	17.68%	11.22%	-22.33%	11.91%	13.30%	-5.09%	-35.75%
EPS Q/Q Growth	2.17%	-11.11%	54.00%	-121.74%	17.65%	59.52%	-47.06%	12.00%	13.64%	10.53%	-23.53%
Operating Cash Flow Q/Q Growth	38.14%	-58.60%	-30.16%	25.63%	16.02%	16.16%	-29.13%	18.71%	27.65%	14.85%	-129.36%
Free Cash Flow Firm Q/Q Growth	7.22%	17.63%	9.44%	-26.02%	-8.71%	10.20%	40.66%	20.58%	74.17%	192.56%	-269.44%
Invested Capital Q/Q Growth	-14.97%	-0.36%	41.36%	-3.99%	1.20%	-2.79%	-2.05%	-5.88%	-14.45%	-16.62%	0.03%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	69.02%	68.38%	68.28%	68.81%	67.83%	63.58%	67.56%	69.84%	67.52%	65.91%	65.69%
EBITDA Margin	-62.48%	-66.97%	-24.66%	-68.49%	-46.24%	-44.21%	-52.52%	-41.75%	-34.58%	-29.45%	-51.92%
Operating Margin	-67.64%	-72.23%	-29.07%	-71.90%	-49.40%	-47.33%	-56.54%	-44.96%	-36.51%	-31.86%	-55.23%
EBIT Margin	-63.93%	-67.92%	-26.07%	-70.03%	-47.62%	-45.72%	-53.96%	-43.09%	-35.78%	-30.53%	-53.31%
Profit (Net Income) Margin	-72.79%	-75.83%	-34.10%	-78.30%	-54.71%	-52.17%	-60.82%	-49.13%	-41.58%	-43.32%	-64.39%
Tax Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	98.46%	100.46%	100.33%	100.00%	101.63%	100.49%
Interest Burden Percent	113.86%	111.65%	130.77%	111.81%	114.89%	115.90%	112.20%	113.65%	116.23%	139.63%	120.21%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	-233.19%	-237.69%	-82.93%	-202.77%	-157.68%	-155.26%	-163.55%	-144.63%	-128.15%	-127.71%	-225.67%
ROIC Less NNEP Spread (ROIC-NNEP)	-209.47%	-134.40%	-116.85%	-118.90%	-288.61%	-117.42%	-564.12%	-179.04%	-146.86%	2.52%	-292.10%
Return on Net Nonoperating Assets (RNNOA)	125.63%	33.68%	-89.75%	29.76%	-69.30%	44.05%	-34.08%	-307.88%	1,104.16%	-0.49%	-333.80%
Return on Equity (ROE)	-107.55%	-204.01%	-172.68%	-173.01%	-226.98%	-111.21%	-197.63%	-452.51%	976.00%	-128.20%	-559.47%
Cash Return on Invested Capital (CROIC)	-303.77%	-251.86%	-201.25%	-183.18%	-207.98%	-190.17%	-153.70%	-149.41%	-135.11%	-127.26%	-131.64%
Operating Return on Assets (OROA)	-40.67%	-54.42%	-25.21%	-58.66%	-46.59%	-38.49%	-51.55%	-50.81%	-48.11%	-29.18%	-58.56%
Return on Assets (ROA)	-46.31%	-60.76%	-32.97%	-65.59%	-53.53%	-43.93%	-58.11%	-57.94%	-55.92%	-41.40%	-70.73%
Return on Common Equity (ROCE)	-107.55%	-204.01%	-172.68%	-173.01%	-226.98%	-111.21%	-197.63%	-452.51%	976.00%	-128.20%	-559.47%
Return on Equity Simple (ROE_SIMPLE)	-143.21%	0.00%	-280.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-7.13	-8.59	-3.38	-8.10	-6.56	-5.85	-7.33	-6.36	-5.29	-4.65	-7.37
NOPAT Margin	-47.35%	-50.56%	-20.35%	-50.33%	-34.58%	-33.13%	-39.58%	-31.47%	-25.56%	-22.30%	-38.66%
Net Nonoperating Expense Percent (NNEP)	-23.72%	-103.29%	33.92%	-83.87%	130.93%	-37.84%	400.57%	34.41%	18.70%	-130.23%	66.43%
Return On Investment Capital (ROIC_SIMPLE)	-	-14.47%	-6.14%	-18.54%	-18.89%	-8.40%	-12.34%	-12.57%	-12.28%	-7.51%	-14.54%
Cost of Revenue to Revenue	30.98%	29.38%	31.72%	31.19%	32.17%	36.42%	31.93%	30.16%	32.48%	32.27%	33.81%
SG&A Expenses to Revenue	24.77%	23.84%	23.06%	22.50%	19.43%	20.34%	20.71%	20.43%	19.08%	18.13%	21.86%
R&D to Revenue	15.73%	15.80%	14.41%	14.44%	10.91%	11.50%	13.71%	10.91%	11.35%	10.20%	12.29%
Operating Expenses to Revenue	136.66%	140.62%	97.34%	140.72%	117.23%	110.91%	124.10%	114.80%	104.03%	97.77%	120.92%
Earnings before Interest and Taxes (EBIT)	-9.62	-12	-4.33	-11	-9.03	-8.07	-9.99	-8.70	-7.40	-6.37	-10
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-9.41	-11	-4.10	-11	-8.77	-7.80	-9.73	-8.43	-7.15	-6.15	-9.90
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	6.41	8.59	9.72	40.38	0.00	4.18	2.66	8.36	37.91	7.54	0.00
Price to Tangible Book Value (P/TBV)	6.91	9.67	11.31	123.15	0.00	4.45	2.93	10.05	573.09	9.61	0.00
Price to Revenue (P/Rev)	3.69	2.77	2.21	1.79	0.91	1.72	0.68	1.02	0.77	0.59	0.34
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	14.01	12.31	8.00	7.57	4.95	6.35	2.82	5.33	5.31	4.71	3.96
Enterprise Value to Revenue (EV/Rev)	3.35	2.67	2.27	2.01	1.26	1.55	0.66	1.10	0.92	0.65	0.55
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.32	2.15	2.83	14.22	-6.53	1.45	2.28	4.51	26.65	8.82	-10.74
Long-Term Debt to Equity	1.32	2.15	2.83	14.22	-6.53	1.45	2.28	4.14	26.65	8.82	-10.74
Financial Leverage	-0.60	-0.25	0.77	-0.25	0.24	-0.38	0.06	1.72	-7.52	-0.19	1.14
Leverage Ratio	3.10	4.40	7.45	3.61	5.78	3.48	4.59	10.60	-24.31	4.83	11.39
Compound Leverage Factor	3.53	4.91	9.75	4.03	6.64	4.03	5.15	12.04	-28.25	6.75	13.69
Debt to Total Capital	56.92%	68.21%	73.87%	93.43%	118.08%	59.10%	69.49%	81.84%	96.38%	89.81%	110.27%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.59%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	56.92%	68.21%	73.87%	93.43%	118.08%	59.10%	69.49%	75.25%	96.38%	89.81%	110.27%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	43.08%	31.79%	26.13%	6.57%	-18.08%	40.90%	30.51%	18.16%	3.62%	10.19%	-10.27%
Debt to EBITDA	-1.00	-1.00	-1.19	-1.14	-1.16	-1.30	-1.11	-1.19	-1.25	-1.77	-1.77
Net Debt to EBITDA	0.44	0.15	-0.10	-0.40	-0.67	0.36	0.04	-0.18	-0.36	-0.15	-0.52
Long-Term Debt to EBITDA	-1.00	-1.00	-1.19	-1.14	-1.16	-1.30	-1.11	-1.10	-1.25	-1.77	-1.77
Debt to NOPAT	-1.40	-1.31	-1.54	-1.50	-1.54	-1.72	-1.48	-1.59	-1.67	-2.36	-2.36
Net Debt to NOPAT	0.62	0.20	-0.13	-0.53	-0.89	0.48	0.06	-0.25	-0.47	-0.20	-0.69
Long-Term Debt to NOPAT	-1.40	-1.31	-1.54	-1.50	-1.54	-1.72	-1.48	-1.46	-1.67	-2.36	-2.36
Altman Z-Score	-1.70	-3.01	-3.43	-5.50	-7.25	-3.21	-4.89	-5.66	-6.63	-4.88	-6.51
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	5.36	4.23	4.13	3.41	2.62	5.01	4.22	3.19	3.30	4.20	3.61
Quick Ratio	4.32	3.33	3.10	2.37	1.69	4.02	3.23	2.42	2.41	3.40	2.76
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-11	-9.06	-8.20	-10	-11	-10	-5.99	-4.76	-1.23	1.14	-1.93
Operating Cash Flow to CapEx	-5,200.00%	-5,725.91%	0.00%	0.00%	-7,363.11%	-3,963.68%	0.00%	0.00%	0.00%	0.00%	0.00%
Free Cash Flow to Firm to Interest Expense	-8.24	-6.74	-6.16	-7.77	-8.36	-7.87	-4.91	-4.00	-1.02	0.45	-0.94
Operating Cash Flow to Interest Expense	-5.22	-8.22	-10.80	-8.04	-6.68	-5.87	-7.98	-6.65	-4.76	-1.93	-5.44
Operating Cash Flow Less CapEx to Interest Expense	-5.32	-8.36	-7.27	-7.99	-6.77	-6.02	-7.86	-6.48	-4.50	-1.85	-5.35
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.64	0.80	0.97	0.84	0.98	0.84	0.96	1.18	1.34	0.96	1.10
Accounts Receivable Turnover	7.71	7.15	7.60	7.62	7.12	6.99	6.94	7.41	6.85	7.85	7.97
Inventory Turnover	1.25	1.44	1.37	1.48	1.56	1.76	1.73	1.99	2.01	2.15	2.03
Fixed Asset Turnover	30.36	31.89	31.42	31.48	32.91	32.05	31.47	33.36	33.24	35.15	37.09
Accounts Payable Turnover	4.15	11.22	4.57	8.91	7.81	11.96	6.38	12.15	10.41	11.47	6.61
Days Sales Outstanding (DSO)	47.31	51.07	48.00	47.89	51.29	52.24	52.56	49.26	53.28	46.48	45.78
Days Inventory Outstanding (DIO)	292.87	253.56	267.34	246.69	234.21	207.55	211.11	183.36	181.85	169.95	180.13
Days Payable Outstanding (DPO)	87.96	32.53	79.84	40.99	46.72	30.51	57.25	30.05	35.07	31.82	55.24
Cash Conversion Cycle (CCC)	252.23	272.10	235.50	253.60	238.78	229.27	206.42	202.57	200.06	184.61	170.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	13	13	18	17	17	17	17	16	13	11	11
Invested Capital Turnover	4.93	4.70	4.08	4.03	4.56	4.69	4.13	4.60	5.01	5.73	5.84
Increase / (Decrease) in Invested Capital	3.87	0.47	4.83	2.24	4.68	4.25	-1.34	-1.60	-4.06	-5.79	-5.44
Enterprise Value (EV)	178	156	143	130	86	107	47	83	71	52	44
Market Capitalization	196	162	140	116	63	119	48	77	59	48	28
Book Value per Share	$1.25	$0.77	$0.58	$0.12	($0.25)	$0.72	$0.46	$0.23	$0.04	$0.16	($0.12)
Tangible Book Value per Share	$1.16	$0.68	$0.50	$0.04	($0.33)	$0.68	$0.42	$0.19	$0.00	$0.12	($0.14)
Total Capital	71	59	55	44	35	70	59	51	43	62	51
Total Debt	40	41	41	41	41	41	41	41	41	56	56
Total Long-Term Debt	40	41	41	41	41	41	41	38	41	56	56
Net Debt	-18	-6.21	3.52	14	24	-12	-1.56	6.41	12	4.81	16
Capital Expenditures (CapEx)	0.13	0.19	-4.70	-0.07	0.12	0.19	-0.14	-0.20	-0.31	-0.19	-0.19
Debt-free, Cash-free Net Working Capital (DFCFNWC)	8.72	8.03	10	9.62	9.97	9.80	10	10	9.36	6.76	6.93
Debt-free Net Working Capital (DFNWC)	67	55	47	36	27	62	53	45	39	58	46
Net Working Capital (NWC)	67	55	47	36	27	62	53	42	39	58	46
Net Nonoperating Expense (NNE)	3.83	4.30	2.28	4.50	3.82	3.36	3.93	3.57	3.32	4.39	4.90
Net Nonoperating Obligations (NNO)	-18	-6.21	3.52	14	24	-12	-1.56	6.41	12	4.81	16
Total Depreciation and Amortization (D&A)	0.22	0.16	0.23	0.25	0.26	0.27	0.27	0.27	0.25	0.23	0.26
Debt-free, Cash-free Net Working Capital to Revenue	16.42%	13.74%	16.30%	14.86%	14.53%	14.15%	14.57%	13.33%	12.14%	8.42%	8.57%
Debt-free Net Working Capital to Revenue	126.08%	93.68%	75.12%	55.79%	39.73%	90.15%	74.71%	59.77%	50.71%	71.76%	57.50%
Net Working Capital to Revenue	126.08%	93.68%	75.12%	55.79%	39.73%	90.15%	74.71%	55.34%	50.71%	71.76%	57.50%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.45)	($0.50)	($0.23)	($0.51)	($0.42)	($0.17)	($0.25)	($0.22)	($0.19)	($0.17)	($0.21)
Adjusted Weighted Average Basic Shares Outstanding	24.48M	22.87M	24.58M	24.66M	24.70M	28.53M	45.27M	45.37M	45.42M	46.95M	57.26M
Adjusted Diluted Earnings per Share	($0.45)	($0.50)	($0.23)	($0.51)	($0.42)	($0.17)	($0.25)	($0.22)	($0.19)	($0.17)	($0.21)
Adjusted Weighted Average Diluted Shares Outstanding	24.48M	22.87M	24.58M	24.66M	24.70M	28.53M	45.27M	45.37M	45.42M	46.95M	57.26M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	24.49M	24.65M	24.66M	24.71M	39.39M	39.55M	39.55M	39.62M	40.34M	44.74M	44.77M
Normalized Net Operating Profit after Tax (NOPAT)	-7.13	-8.59	-8.68	-8.10	-6.56	-5.85	-7.33	-6.36	-5.29	-4.65	-7.37
Normalized NOPAT Margin	-47.35%	-50.56%	-52.31%	-50.33%	-34.58%	-33.13%	-39.58%	-31.47%	-25.56%	-22.30%	-38.66%
Pre Tax Income Margin	-72.79%	-75.83%	-34.10%	-78.30%	-54.71%	-52.99%	-60.54%	-48.97%	-41.58%	-42.63%	-64.08%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-7.21	-8.58	-3.25	-8.47	-6.72	-6.29	-8.20	-7.32	-6.16	-2.52	-4.95
NOPAT to Interest Expense	-5.34	-6.39	-2.54	-6.08	-4.88	-4.56	-6.01	-5.35	-4.40	-1.84	-3.59
EBIT Less CapEx to Interest Expense	-7.31	-8.73	0.28	-8.42	-6.81	-6.44	-8.08	-7.15	-5.90	-2.45	-4.86
NOPAT Less CapEx to Interest Expense	-5.44	-6.53	0.99	-6.03	-4.97	-4.71	-5.90	-5.18	-4.14	-1.77	-3.50
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

TELA Bio’s first quarter of 2026 showed continued revenue growth, but profitability and cash burn remain major concerns. Revenue rose to $19.1 million, up from $17.6 million in Q4 2024 and $18.5 million in Q1 2025, but the company still posted a net loss of $12.3 million. Operating losses also widened versus the prior quarter, and cash declined by $11.3 million during the quarter.

Revenue increased to $19.06 million in Q1 2026, up year over year from $18.52 million in Q1 2025.
Gross profit improved to $12.52 million, with gross margin of about 65.7%, showing the core business is still generating healthy product margin.
The company ended Q1 2026 with $39.5 million in cash and equivalents, providing some liquidity cushion.
Cash flow from investing was slightly positive in Q1 2026, helped by $309,000 in asset sales versus $119,000 of capital spending.
Selling, general and administrative expense fell to $4.17 million from $3.78 million in Q4 2025, a modest increase that does not yet signal a clear trend.
Research and development spending remained relatively contained at $2.34 million, suggesting a disciplined approach to product development.
The balance sheet still shows substantial leverage, including $55.9 million of long-term debt and $17.8 million of current liabilities.
The company’s book equity remained negative at -$5.2 million, reflecting accumulated losses over time.
Operating loss widened to -$10.53 million in Q1 2026 from -$6.65 million in Q4 2025.
Net cash from operating activities was a substantial outflow of $11.17 million, underscoring ongoing cash burn.
Net income remained deeply negative at -$12.27 million, or -$0.21 per share.
Cash balance fell from $42.0 million at the end of Q4 2025 to $39.5 million in Q1 2026, continuing the downward trend.
Interest expense stayed heavy at $2.05 million in Q1 2026, which continues to pressure profitability.

Bottom line: TELA Bio is still growing revenue and maintaining decent gross margins, but losses, debt burden, and negative operating cash flow suggest the turnaround is not yet complete. Investors will likely want to see stronger revenue acceleration or meaningful expense leverage before confidence in a sustained improvement builds.

07/15/26 12:11 AM ETAI Generated. May Contain Errors.

TELA Bio Financials - Frequently Asked Questions

According to the most recent income statement we have on file, TELA Bio's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

TELA Bio's net income appears to be on an upward trend, with a most recent value of -$38.83 million in 2025, rising from -$21.09 million in 2018. The previous period was -$37.84 million in 2024. View TELA Bio's forecast to see where analysts expect TELA Bio to go next.

TELA Bio's total operating income in 2025 was -$33.76 million, based on the following breakdown:

Total Gross Profit: $54.34 million
Total Operating Expenses: $88.10 million

Over the last 7 years, TELA Bio's total revenue changed from $8.27 million in 2018 to $80.28 million in 2025, a change of 870.2%.

TELA Bio's total liabilities were at $75.11 million at the end of 2025, a 29.2% increase from 2024, and a 83.5% increase since 2018.

In the past 7 years, TELA Bio's cash and equivalents has ranged from $17.28 million in 2018 to $74.39 million in 2020, and is currently $50.85 million as of their latest financial filing in 2025.

Over the last 7 years, TELA Bio's book value per share changed from -467.34 in 2018 to 0.16 in 2025, a change of -100.0%.

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Financial statements for NASDAQ:TELA last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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TELA Bio (TELA) Financials

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TELA Bio (TELA) Financials

Annual Income Statements for TELA Bio

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TELA Bio Financials - Frequently Asked Questions

When does TELA Bio's fiscal year end?

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How has TELA Bio's revenue changed over the last 7 years?

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