TNON

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Tenon Medical, Inc.

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Key Metrics

Previous Close: $11.41
52-Week Range: $4.38 – $54.95
Market Cap: $4.72M
P/E (TTM): —
EPS (TTM): -42.75
Dividend Yield: —

Advanced Metrics

Price/Book: —
PEG Ratio: —
Return on Equity: -551.19%
Return on Assets: -71.98%
Gross Margin: 66.81%
Operating Margin: -262.24%
Profit Margin: -257.85%
Current Ratio: 0.58
Debt/Equity: —
Total Debt: $5.68M
Free Cash Flow: $-5.57M
Revenue Growth: 126.80%
Earnings Growth: —
Enterprise Value: $14.69M

TNON Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$691.00K	$2.93M	$3.28M	$3.94M
Cost of Revenue	$1.33M	$1.69M	$1.57M	$1.59M
Gross Profit	-$641.00K	$1.24M	$1.71M	$2.36M
Research & Development	$2.83M	$3.16M	$2.60M	$2.15M
Selling, General & Admin	$15.26M	$13.80M	$12.87M	$13.00M
Operating Expenses	$18.08M	$16.97M	$15.48M	$15.15M
Operating Income	-$18.73M	-$15.73M	-$13.77M	-$12.79M
EBITDA	-$18.27M	-$15.13M	-$12.98M	-$12.03M
Pretax Income	-$18.92M	-$15.58M	-$13.67M	-$12.56M
Net Income	-$18.92M	-$15.58M	-$13.67M	-$12.56M
Diluted EPS	-188.96	-68.72	-11.26	-1.70
Diluted Shares	100125	226750	1.21M	7.38M

TNON Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$2.13M	$2.43M	$6.54M	$3.76M
Receivables	$228.00K	$518.00K	$863.00K	$1.70M
Inventory	$415.00K	$554.00K	$606.00K	$1.05M
Current Assets	$9.35M	$3.89M	$8.21M	$6.77M
Total Assets	$11.09M	$6.34M	$9.84M	$10.76M
Current Liabilities	$2.53M	$3.14M	$1.87M	$3.21M
Total Debt	$911.00K	$1.86M	$428.00K	$141.00K
Total Liabilities	$4.84M	$5.57M	$3.87M	$5.72M
Retained Earnings	-$39.49M	-$55.07M	-$68.75M	-$81.30M
Shareholders' Equity	$6.25M	$778.00K	$5.97M	$5.04M
Working Capital	$6.82M	$749.00K	$6.34M	$3.56M

TNON Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	-$12.03M	-$12.18M	-$9.88M	-$10.74M
Capital Expenditure	-$847.00K	-$361.00K	-$186.00K	-$273.00K
Free Cash Flow	-$12.87M	-$12.54M	-$10.06M	-$11.02M
Depreciation & Amortisation	$289.00K	$426.00K	$655.00K	$530.00K
Stock-Based Compensation	$2.90M	$4.14M	$3.85M	$1.69M
Investing Cash Flow	-$2.88M	$6.14M	-$186.00K	-$1.02M
Financing Cash Flow	$14.11M	$6.30M	$14.13M	$8.99M
Net Change in Cash	-$795.00K	$261.00K	$4.06M	-$2.78M

TNON Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Revenue	$726.00K	$564.00K	$1.17M	$1.48M	$1.38M
Cost of Revenue	$403.00K	$319.00K	$400.00K	$464.00K	$434.00K
Gross Profit	$323.00K	$245.00K	$773.00K	$1.02M	$945.00K
Research & Development	$691.00K	$503.00K	$428.00K	$527.00K	$662.00K
Selling, General & Admin	$3.31M	$2.60M	$3.74M	$3.36M	$3.56M
Operating Expenses	$4.00M	$3.10M	$4.17M	$3.88M	$4.22M
Operating Income	-$3.68M	-$2.86M	-$3.39M	-$2.87M	-$3.28M
EBITDA	-$3.51M	-$2.65M	-$3.19M	-$2.67M	-$3.15M
Pretax Income	-$3.62M	-$2.77M	-$3.34M	-$2.83M	-$3.48M
Net Income	-$3.62M	-$2.77M	-$3.34M	-$2.83M	-$3.48M
Diluted EPS	-1.01	-0.36	-0.40	—	-0.31
Diluted Shares	3.60M	7.59M	8.25M	—	11.27M

TNON Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Cash & Equivalents	$10.31M	$7.85M	$3.44M	$3.76M	$4.61M
Receivables	$886.00K	$770.00K	$1.31M	$1.70M	$1.97M
Inventory	$607.00K	$688.00K	$1.36M	$1.05M	$806.00K
Current Assets	$11.99M	$9.88M	$6.54M	$6.77M	$7.62M
Total Assets	$13.39M	$11.11M	$10.37M	$10.76M	$12.84M
Current Liabilities	$2.19M	$2.56M	$3.04M	$3.21M	$7.41M
Total Debt	$360.00K	$290.00K	$216.00K	$141.00K	$4.88M
Total Liabilities	$4.02M	$4.40M	$5.57M	$5.72M	$10.94M
Retained Earnings	-$72.36M	-$75.13M	-$78.47M	-$81.30M	-$84.78M
Shareholders' Equity	$9.38M	$6.71M	$4.80M	$5.04M	$1.90M
Working Capital	$9.79M	$7.32M	$3.50M	$3.56M	$215.00K

TNON Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Operating Cash Flow	-$2.48M	-$2.21M	-$3.82M	-$2.22M	-$2.96M
Capital Expenditure	—	—	—	-$192.00K	-$56.00K
Free Cash Flow	-$2.48M	-$2.41M	-$3.71M	-$2.42M	-$3.02M
Depreciation & Amortisation	$107.00K	$114.00K	$145.00K	$164.00K	$153.00K
Stock-Based Compensation	$872.00K	$417.00K	$58.00K	$344.00K	$331.00K
Investing Cash Flow	$0.00	-$192.00K	-$639.00K	-$192.00K	-$56.00K
Financing Cash Flow	$6.26M	-$59.00K	$59.00K	$2.73M	$3.87M
Net Change in Cash	$3.78M	-$2.46M	-$4.40M	$314.00K	$851.00K

Market Snapshot

About

Tenon Medical is a medical device company focused on developing and commercializing minimally invasive solutions for spine surgery. The company has developed the CATAMARAN Sacroiliac Joint Fusion System, designed to treat sacroiliac joint dysfunction with improved clinical outcomes. Tenon Medical aims to provide surgeons with innovative tools that enhance patient recovery and reduce procedural complexity.