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Tela Bio (TELA) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 11, 2026 · Tela Bio (TELA) Q2 2026 earnings results →
Q2 2026 Revenue down 4% year over year to $19.3M · 58¢ of every $1 of revenue lost · operating margin -48.1%
Tela Bio made $19.3M in Q2 2026 (-4% Y/Y). Operating margin -48.1%, net loss $11.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
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What changed this quarter
Revenue was $19.3M in Q2 2026, down 4% year over year and up 1% from the previous quarter.
Gross margin was 72.3%, up 2.4 points from Q2 2025. Operating costs exceeded revenue by $9.3M, an operating margin of -48.1%. Operating expenses grew 0% against a revenue fall of 4%. The fastest-growing cost line was Research & development (+24%). The quarter ended with a net loss of $11.3M, narrower than the previous quarter's $12.3M loss.
Operating cash flow was −$9.4M. Non-cash charges added back $171K of depreciation and $613K of share-based compensation. Working capital and other items added $1.1M. Capital expenditures of $59K exceeded it, leaving free cash flow of −$9.4M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 11, 2026 | $19.3M | -4% | -48.1% | −$11.3M | −$9.4M |
| Q1 2026 | 10-Q | May 13, 2026 | $19.1M | +3% | -55.2% | −$12.3M | −$11.2M |
| Q4 2025 | 10-K | Mar 25, 2026 | $20.9M | +18% | -31.9% | −$9.0M | −$4.9M |
| Q3 2025 | 10-Q | Nov 14, 2025 | $20.7M | +9% | -36.5% | −$8.6M | −$5.7M |
| Q2 2025 | 10-Q | Aug 11, 2025 | $20.2M | +26% | -45.0% | −$9.9M | −$7.9M |
| Q1 2025 | 10-Q | May 8, 2025 | $18.5M | +12% | -56.5% | −$11.3M | −$9.7M |
| Q4 2024 | 10-K | Mar 21, 2025 | $17.6M | +4% | -47.3% | −$9.2M | −$7.5M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Tela Bio
We are a commercial-stage medical technology company focused on providing innovative soft-tissue reconstruction solutions that optimize clinical outcomes by prioritizing the preservation and restoration of the patient’s own anatomy. Our growing product portfolio is purposefully designed to leverage the patient’s natural healing response while minimizing long-term exposure to permanent synthetic materials. We are committed to delivering our advanced technologies with a strong economic value proposition to assist surgeons and institutions in providing next-generation soft-tissue repair solutions to more patients worldwide.
In its own words, from its 10-K, filed Mar 25, 2026.
Tela Bio against its Surgical & Medical Instruments & Apparatus peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -4% against the peers' median +5%. Operating margin: -48.1% against the peers' median 13.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| TELA Tela Bio | Q2 2026 | $19.3M | -4% | -48.1% |
| MDLN Medline | Q3 2026 | $7.9B | +10% | 6.4% |
| MMM 3M | Q3 2026 | $6.6B | +1% | 23.7% |
| SYK Stryker | Q3 2026 | $6.5B | +8% | 15.9% |
| BSX Boston Scientific | Q3 2026 | $5.1B | +1% | 16.1% |
| BDX Becton Dickinson | Q3 FY26 | $5.0B | +5% | 13.3% |
| BAX Baxter International | Q3 2026 | $3.0B | +5% | 7.6% |
| SOLV Solventum | Q3 2026 | $1.9B | -7% | 3.5% |
| RMD ResMed | Q1 FY27 | $1.4B | +6% | 32.0% |
Source: Tela Bio 10-Q on SEC EDGAR · CIK 1561921 · Surgical & Medical Instruments & Apparatus
13F: who owns TELA and who is buying
More on TELA
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results