TNON Research | Milton Maxwell

TNON

Tenon Medical, Inc.

1.1000

+0.0200+1.85%

Dec 16, 4:00:00 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

FY Q4 '25

3/18/26Mar 18, 2026

Key Stats

Market Cap

12.22M

P/E (TTM)

0.19

Basic EPS (TTM)

5.86

Dividend Yield

Recent Filings

8-K

Tenon closes $2.85M PIPE

11/17/25Nov 17, 2025

Tenon Medical closed a $2.85M PIPE on November 14, 2025, issuing 2,217,904 shares and warrants exercisable at $1.16 for three years. CEO Foster, CCO Grawey, and CIO Geist joined accredited investors. Funds target working capital. Executives bought in.

10-Q

Q3 FY2025 results

11/13/25Nov 13, 2025

Tenon Medical posted Q3 revenue of $1.2M, up 32% y/y from $887K yet down q/q (derived), with gross margin leaping to 66% from 47% on lower costs and volume leverage. Operating loss narrowed to $3.4M from $3.2M y/y as R&D dropped 35%, though G&A spiked on $779K acquisition costs; net loss tracked closely at $3.3M. Closed SI Acquisition in August 2025 for $3.1M (cash/stock/contingent), recognizing $2.4M goodwill and $509K intangibles (7-10 years). Cash fell to $3.4M after $8.5M operating burn, no debt. Shares exploded to 8.6M from 877K, slashing diluted EPS to -$0.40 from -$3.63. Acquisitions expand the arsenal. Competition bites hard.

8-K

RSUs issued to insiders

10/16/25Oct 16, 2025

Tenon Medical issued 866,642 RSUs to directors and officers on October 13, 2025, under its 2022 Equity Incentive Plan. The awards vest 50% on January 1, 2026, and 50% on July 31, 2026, relying on Section 4(a)(2) exemption from registration. Retention locked in. No financial impact disclosed.

8-K

Annual meeting approves key items

9/23/25Sep 23, 2025

Tenon Medical held its 2025 Annual Meeting on September 18 after two adjournments for quorum, electing all seven director nominees and approving warrant exercisability for 3,668,550 shares at $1.25 each, plus 2022 Plan expansion to 1,328,365 shares with a flexible evergreen boost. Auditors Haskell & White got ratified. All passed handily despite 1.96M broker non-votes.

10-Q

Q2 FY2025 results

8/13/25Aug 13, 2025

Tenon Medical's Q2 revenue fell 37% y/y to $564K yet narrowed operating loss to $2.9M from $3.9M, trimming op ex 29% via lower stock-based comp and insurance. Gross margin slipped to 43% from 52% on higher relative fixed costs, while YTD revenue dropped 20% to $1.3M with $6.4M net loss versus $7.4M prior (anti-dilutive shares steady at 5.6M). Cash climbed to $7.8M on $6.2M equity raises, funding $4.7M op cash burn; no debt. Cash fuels the runway. Post-quarter, closed SImmetry asset buy for $0.8M cash plus 710K shares and royalties capped at $5M. Competition shadows SI joint sales.

About

Tenon Medical, Inc., a medical device company, engages in the development of implant for the treatment of severe lower back pain in the United States. The company offers Catamaran SI-Joint Fusion System, an invasive approach to the sacroiliac joint (SI Joint) using a titanium implant for treatment of the most common types of SI Joint disorders that cause lower back pain. It also provides Catamaran Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, transfixing the SI Joint along its longitudinal axis. Tenon Medical, Inc. was incorporated in 2012 and is headquartered in Los Gatos, California.

CEO

Mr. Steven M. Foster

IPO

4/27/2022

Website

https://www.tenonmed.com

Employees

Sector

Healthcare

Industry

Medical Devices