$TELA
TELA Bio Inc

2024 Q2 Form 10-Q Financial Statement

#000155837024007784 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $16.09M $16.60M
YoY Change 11.02% 39.42%
Cost Of Revenue $5.018M $5.267M
YoY Change 16.89% 31.31%
Gross Profit $11.07M $11.34M
YoY Change 8.55% 43.53%
Gross Profit Margin 68.81% 68.28%
Selling, General & Admin $20.32M $21.35M
YoY Change 12.58% 24.85%
% of Gross Profit 183.51% 188.33%
Research & Development $2.323M $2.393M
YoY Change -7.6% 16.62%
% of Gross Profit 20.98% 21.11%
Depreciation & Amortization $249.0K $139.0K
YoY Change 16.36% 15.83%
% of Gross Profit 2.25% 1.23%
Operating Expenses $22.64M $23.74M
YoY Change 10.12% 23.97%
Operating Profit -$11.57M -$4.826M
YoY Change 11.66% -57.12%
Interest Expense -$1.331M $1.332M
YoY Change -202.54% 6.9%
% of Operating Profit
Other Income/Expense, Net -$1.030M -$835.0K
YoY Change 140.65% 8.02%
Pretax Income -$12.60M -$5.661M
YoY Change 16.77% -52.93%
Income Tax
% Of Pretax Income
Net Earnings -$12.60M -$5.661M
YoY Change 16.77% -52.93%
Net Earnings / Revenue -78.3% -34.1%
Basic Earnings Per Share -$0.51 -$0.23
Diluted Earnings Per Share -$0.51 -$0.23
COMMON SHARES
Basic Shares Outstanding 24.66M 24.65M
Diluted Shares Outstanding 24.66M 24.58M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $26.50M $37.14M
YoY Change -59.4% 23.3%
Cash & Equivalents $26.50M $37.14M
Short-Term Investments
Other Short-Term Assets $2.144M $1.918M
YoY Change 12.25% 18.47%
Inventory $13.37M $13.60M
Prepaid Expenses
Receivables $9.097M $9.955M
Other Receivables $0.00 $0.00
Total Short-Term Assets $51.11M $62.62M
YoY Change -42.68% 17.04%
LONG-TERM ASSETS
Property, Plant & Equipment $2.349M $2.325M
YoY Change 33.16% 37.17%
Goodwill
YoY Change
Intangibles $1.929M $2.024M
YoY Change -16.46% -15.81%
Long-Term Investments
YoY Change
Other Assets $2.701M $2.701M
YoY Change
Total Long-Term Assets $9.095M $9.219M
YoY Change 74.3% 74.4%
TOTAL ASSETS
Total Short-Term Assets $51.11M $62.62M
Total Long-Term Assets $9.095M $9.219M
Total Assets $60.20M $71.84M
YoY Change -36.22% 22.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.314M $3.357M
YoY Change 2.84% -35.64%
Accrued Expenses $12.68M $11.82M
YoY Change 17.42% 28.64%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $14.99M $15.18M
YoY Change 14.9% 5.37%
LONG-TERM LIABILITIES
Long-Term Debt $40.82M $40.67M
YoY Change 1.5% 1.5%
Other Long-Term Liabilities $1.528M $1.609M
YoY Change 35.94% 36.59%
Total Long-Term Liabilities $42.35M $42.27M
YoY Change 2.44% 2.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $14.99M $15.18M
Total Long-Term Liabilities $42.35M $42.27M
Total Liabilities $57.33M $57.45M
YoY Change 5.43% 3.25%
SHAREHOLDERS EQUITY
Retained Earnings -$339.2M -$326.6M
YoY Change 14.21% 14.08%
Common Stock $25.00K $25.00K
YoY Change 4.17% 31.58%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.870M $14.38M
YoY Change
Total Liabilities & Shareholders Equity $60.20M $71.84M
YoY Change -36.22% 22.2%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income -$12.60M -$5.661M
YoY Change 16.77% -52.93%
Depreciation, Depletion And Amortization $249.0K $139.0K
YoY Change 16.36% 15.83%
Cash From Operating Activities -$10.70M -$14.38M
YoY Change -5.03% 24.28%
INVESTING ACTIVITIES
Capital Expenditures $299.0K $304.0K
YoY Change 90.45% 164.35%
Acquisitions
YoY Change
Other Investing Activities $366.0K $5.000M
YoY Change
Cash From Investing Activities $67.00K $4.696M
YoY Change -142.68% -4183.48%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.000K 56.00K
YoY Change -100.01% -123.83%
NET CHANGE
Cash From Operating Activities -10.70M -14.38M
Cash From Investing Activities 67.00K 4.696M
Cash From Financing Activities -5.000K 56.00K
Net Change In Cash -10.64M -9.586M
YoY Change -130.4% -19.41%
FREE CASH FLOW
Cash From Operating Activities -$10.70M -$14.38M
Capital Expenditures $299.0K $304.0K
Free Cash Flow -$11.00M -$14.69M
YoY Change -3.72% 25.66%

Facts In Submission

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CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
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CY2024Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2023Q1 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
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CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2024Q1 us-gaap Use Of Estimates
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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:italic;margin:0pt 0pt 12pt 0pt;">Use of Estimates</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 12pt 0pt;">The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and contingent liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. The most significant judgments are employed in estimates used to determine the recoverability of the carrying value of the Company’s inventory. As future events and their effects cannot be determined with precision, actual results may differ significantly from these estimates.</p>
CY2024Q1 tela Incremental Costs Of Obtaining Contract
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0
CY2024Q1 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
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CY2024Q1 us-gaap Employee Related Liabilities Current
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CY2023Q4 us-gaap Employee Related Liabilities Current
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CY2024Q1 us-gaap Accrued Professional Fees Current
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CY2024Q1 tela Accrued Expenses Amount Due To Contract Manufacturer
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CY2023Q4 tela Accrued Expenses Amount Due To Contract Manufacturer
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2024000
CY2024Q1 us-gaap Operating Lease Liability Current
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568000
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565000
CY2024Q1 tela Research And Development Expenses Payable Current
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112000
CY2023Q4 tela Research And Development Expenses Payable Current
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140000
CY2024Q1 us-gaap Other Accrued Liabilities Current
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602000
CY2023Q4 us-gaap Other Accrued Liabilities Current
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527000
CY2024Q1 us-gaap Accrued Liabilities Current
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CY2023Q4 us-gaap Accrued Liabilities Current
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15300000
CY2024Q1 us-gaap Debt Instrument Unamortized Premium
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2000000
CY2023Q4 us-gaap Debt Instrument Unamortized Premium
DebtInstrumentUnamortizedPremium
2000000
CY2024Q1 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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1335000
CY2023Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
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1485000
CY2024Q1 us-gaap Long Term Debt
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CY2023Q4 us-gaap Long Term Debt
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CY2024Q1 us-gaap Class Of Warrant Or Right Outstanding
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88556
CY2024Q1 tela Equity Incentive Plans Number
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CY2024Q1 us-gaap Allocated Share Based Compensation Expense
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CY2023Q1 us-gaap Allocated Share Based Compensation Expense
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1128000
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2162453
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.48
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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219600
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
7.07
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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63521
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
12.69
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
11.11
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y7M6D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
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CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P5Y8M12D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
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0.729
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
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0.0428
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P6Y3M
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
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CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
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CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
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