TELA BIO Reports Q2 Earnings of USD 14.5 Million, Up 39.2% Year Over Year
August 27, 2023
🌥️Earnings Overview
TELA BIO ($NASDAQ:TELA) announced their Q2 earnings results for FY2023 on August 9 2023, revealing total revenue of USD 14.5 million, a 39.2% increase from the same quarter of the previous year. Unfortunately, net income was reported at USD -10.8 million, a decrease of USD 2 million from FY2022 Q2.
Analysis
GoodWhale has conducted an analysis of TELA BIO‘s wellbeing and the results are summarized in a Star Chart. The Star Chart indicates that TELA BIO is strong in asset and growth, but weak in dividend and profitability. Additionally, TELA BIO has a health score of 3/10 with regard to its cashflows and debt, indicating that it is less likely to pay off debt and fund future operations. Based on these results, TELA BIO is classified as a ‘cheetah’, a type of company that has achieved high revenue or earnings growth but is considered less stable due to lower profitability. Given its instability, investors who are willing to accept higher risks may be interested in investing in TELA BIO. However, due to the uncertainty associated with cheetahs, investors should also consider diversifying their portfolios to mitigate the risks involved. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Tela Bio. More…
| Total Revenues | Net Income | Net Margin |
| 49.18 | -43.51 | -88.5% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Tela Bio. More…
| Operations | Investing | Financing |
| -41.89 | -1.87 | 40.85 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Tela Bio. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 94.39 | 54.38 | 1.64 |
Key Ratios Snapshot
Some of the financial key ratios for Tela Bio are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 45.2% | – | -78.8% |
| FCF Margin | ROE | ROA |
| -88.5% | -112.3% | -25.7% |
Peers
The company’s products are used in a variety of procedures, including breast reconstruction, hernia repair, and abdominal wall reconstruction. TELA Bio‘s competitors include TransMedics Group, InMode Ltd, and Osprey Medical Inc.
– TransMedics Group Inc ($NASDAQ:TMDX)
TransMedics Group Inc is a medical technology company that develops, manufactures and sells organ transplantation products. The company’s products are designed to improve the quality of organs for transplantation and to increase the number of organs available for transplantation. TransMedics Group Inc has a market cap of 1.84B as of 2022, a Return on Equity of -20.11%. The company’s products are used by transplant centers around the world, and its products are sold in over 50 countries. TransMedics Group Inc is headquartered in Andover, Massachusetts.
– InMode Ltd ($NASDAQ:INMD)
InMode Ltd. is a technology company that provides minimally invasive aesthetic solutions. The company offers various solutions for skin tightening, body contouring, fat reduction, and facial rejuvenation. InMode Ltd. has a market cap of 3.06B as of 2022 and a Return on Equity of 28.88%. The company’s products are available in over 60 countries and are FDA-cleared, CE-marked, and TGA-registered.
Summary
TELA BIO‘s second quarter of FY2023 saw strong revenue growth, with a year-over-year increase of 39.2%. However, the company reported a net income of -10.8 million, a decline of 2 million compared to the same period in the prior year. Investors should keep an eye on TELA BIO’s performance going forward, as the company attempts to turn around its bottom line. Additionally, it will be important to monitor the company’s margins and costs, as well as how it adjusts its product and pricing strategies to improve profitability.
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