Tenon Medical, Inc.

Tenon Medical, Inc. reported FY 2025 revenue of $3.9 million, a 20% increase from $3.3 million in FY 2024, driven by higher surgical procedure volume and the addition of revenue from the SImmetry + System acquired in August 2025. The company generated a gross profit of $2.4 million (60% gross margin), up 38% from $1.7 million (52% gross margin) in the prior year. However, Tenon incurred a net loss of $12.6 million, slightly improved from a $13.7 million loss in FY 2024, as operating expenses remained high at $15.2 million. The company ended the year with $3.8 million in cash and cash equivalents and an accumulated deficit of $81.3 million. Management expressed substantial doubt about the company's ability to continue as a going concern for the next twelve months without additional capital, noting that existing cash will be insufficient to fund operations.

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