Tenon Medical Inc

TENON Medical, Inc. is a medical device company, which is designed to optimize sacroiliac joint fixation / fusion surgery and corresponding outcomes. The firm is preparing a national launch of this system to address the greatly underserved market opportunity that exists in this space. The company was founded on June 19, 2012 and is headquartered in Los Gatos, CA.

Earnings data Q1 2022

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Earnings data Q1 2024

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Earnings data Q3 2024

Tenon Medical reports robust Q1 performance amidst profitability challenges

Tenon Medical Inc delivered strong financial and clinical results in Q1 2024, driven by revenue growth and positive clinical study outcomes for the Catamaran System.
While facing challenges in profitability and operating losses, the company's solid financial position, innovative product portfolio, and strategic focus on market expansion present opportunities for future growth.
To capitalize on its strengths and opportunities, Tenon Medical must address cost management, profitability concerns, and maintain a competitive edge in the market through innovation and strategic investments.

Tenon Medical Inc reports revenue growth and innovation focus in Q2 2024

Tenon Medical Inc's Q2 2024 performance reflects revenue growth and improved gross profit margins, underpinned by a strong focus on innovation and market expansion.
While facing challenges in managing operating expenses and achieving profitability, the company's financial position remains stable with no debt.
Opportunities lie in leveraging upcoming study results, expanding market presence, and optimizing operational efficiency to drive future growth and financial success.

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Tenon Medical, Inc. is a medical device company, which engages in the development of a minimally invasive approach to the sacroiliac joint (SI joint) using a single titanium implant for treatment of the most common types of SI Joint disorders. The company was founded by Richard Ferrari and Richard Ginn on June 19, 2012 and is headquartered in Los Gatos, CA.

~ Procedures Completed in Various Spine & Pain Centers of Excellence Throughout the Country Including in Idaho, Pennsylvania, Minnesota, Arizona and Utah ~ ~ Feedback From Initial Physician Users to Support Broader Market Introduction~ LOS GATOS, CA / ACCESSWIRE / October 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced completion of the initial clinical cases utilizing the Company's new Catamaran SE SI Joint Fixation Device. The new implant offers a 30% reduction in implant width as compared to the original Catamaran Fixation Device, providing physicians with options for smaller SI joint anatomy or revising previously treated SI joints with failed alternative SI joint implants where space is limited.

Tenon Medical Announces Initial Clinical Cases Successfully Completed with Company's New Catamaran(R) SE SI Joint Fusion System

LOS GATOS, CA / ACCESSWIRE / October 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced plans to release financial results for the third quarter 2024 ended September 30, 2024 after market close on Wednesday, November 13, 2024. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Third Quarter 2024 Financial Results

LOS GATOS, CA / ACCESSWIRE / October 28, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced that it is in compliance with all relevant Nasdaq continued listing Rules. The Company had previously reported non compliance with Nasdaq Rules 5605(b)(1), 5605(c)(2) and 5605(d)(2), with respect to the number of independent directors on its board of directors and certain board committees; Nasdaq Rule 5550(a)(2), with respect to its minimum bid price; Nasdaq Rule 5550(a)(4), with respect to number of shares in its public float; and Nasdaq Rule 5550(b), with respect to its stockholders' equity.

Tenon Medical(R) Regains Full Compliance with Nasdaq Continued Listing Requirements

Further Solidifies International Patent Portfolio and Underscores the Company's Commitment to Innovation of SI Joint Stabilization Systems and Methods LOS GATOS, CA / ACCESSWIRE / October 17, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced the issuance of U.S. Patent Nos. 12,115,075, 12,115,076 and 12,115,077.

Tenon Medical(R) Announces Issuance of Three U.S. Patents

Tenon Now Holds 9 Granted Patents and 26 Pending Applications for the Catamaran® SI Joint Fusion System Worldwide LOS GATOS, CA / ACCESSWIRE / September 19, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced the United States Patent and Trademark Office ("USPTO") issued three (3) Notices of Allowance for U.S. Patent Application Numbers 17,469,132 and 17/468,811, both entitled "Sacroiliac Joint Stabilization Prostheses", and 18/612,032, entitled "Systems, Apparatus and Methods for Stabilizing Sacroiliac Joints". The U.S. patents based on the applications should thus issue within the next ninety (90) days.

Tenon Medical Announces Issuance of Three Notices of Allowance for Patent Applications from the USPTO

LOS GATOS, CA / ACCESSWIRE / September 17, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced the closing of its previously announced "reasonable best efforts" public offering with a single health-care focused institutional investor for the purchase and sale of 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules (the "Offering"). The Company received aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses.

Tenon Medical, Inc. Announces Closing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

LOS GATOS, CA / ACCESSWIRE / September 12, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced the pricing of its "reasonable best efforts" public offering with a single health-care focused institutional investor for the purchase and sale of up to 1,222,850 shares of common stock (or pre-funded warrants in lieu thereof) and warrants to purchase up to 1,222,850 shares of common stock at a combined offering price of $3.68 per share and accompanying warrant, priced at-the-market under Nasdaq rules (the "Offering"). The Company expects to receive aggregate gross proceeds of approximately $4.5 million, before deducting placement agent fees and other offering expenses, and assuming no exercise of the warrants.

Tenon Medical, Inc. Announces Pricing of $4.5 Million Public Offering Priced At-The-Market Under Nasdaq Rules

~ New SI Joint Fixation Device Offers a 30% Reduction in Implant Size Providing Physicians Choices for Varying Anatomy and Treatment Strategies with the Catamaran Technology ~ ~ The SE System Can Also Be Utilized with a Manual Drilling Option During Implant Preparation~ LOS GATOS, CA / ACCESSWIRE / September 12, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering from certain Sacroiliac Joint (SIJ) disorders, today announced preparation for the initial alpha launch of the Company's new Catamaran SE SI Joint Fusion System targeted for the beginning of Q4. The Catamaran SE Fixation Device extends the line of implant offerings for physicians preferring a smaller Catamaran implant when performing a SI joint fusion procedure.

Tenon(R) Medical Announces the Introduction of the Catamaran(R) SE SI Joint Fusion System

~ Interim Patient Outcomes Demonstrate Significant Improvements in Pain (VAS) and Disability (ODI), Along with High Patient Satisfaction and Safety Profile at Primary 6-month Analysis ~ ~ Preliminary SI Joint Fusion Results Based on Independent Radiologist Review Indicate Evidence of Fusion at 12-Months Post-Procedure ~ LOS GATOS, CA / ACCESSWIRE / September 4, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain Sacroiliac Joint (SIJ) disorders, today announced the first publication of the Catamaran SI Joint Fusion System® MAINSAIL™ study. This study is an ongoing prospective, single-arm, multi-center, post-market study evaluating clinical and radiographic outcomes of adult patients with sacroiliac joint disruptions or degenerative sacroiliitis treated with the Catamaran SI Joint Fusion System.

Tenon(R) Medical Announces First Peer Reviewed Publication of the MAINSAIL(TM) Study Analyzing the First 33 Consecutive Patients from an IRB Approved, Prospective, Multi-Centered, Post-Market Clinical Investigation Utilizing the Catamaran(R) SI Joint Fusion System

LOS GATOS, CA / ACCESSWIRE / September 4, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced, a 1:8 reverse stock split of the Company's issued and outstanding common stock. The reverse stock split will become effective at 12:01, Eastern Time, on September 6, 2024, prior to the commencement of trading on the Nasdaq Capital Market.

Tenon Medical Announces 1:8 Reverse Split

LOS GATOS, CA / ACCESSWIRE / August 27, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced it has appointed Kevin Williamson as Chief Financial Officer. Mr. Williamson's appointment succeeds the previously disclosed retirement of Steve Van Dick from the role of Chief Financial Officer.

Tenon Medical Appoints Medical Device Veteran, Kevin Williamson, Chief Financial Officer

Tenon Medical, Inc. (NASDAQ:TNON ) Q2 2024 Earnings Conference Call August 13, 2024 4:30 PM ET Company Participants Steven Foster - CEO and President Steven Van Dick - CFO and EVP, Finance and Administration Conference Call Participants Bruce Jackson - The Benchmark Company Anthony Vendetti - Maxim Group Operator Greetings and welcome to the Tenon Medical's Second Quarter 2024 Financial Results and Corporate Update Conference Call. As a reminder, this call is being recorded.

Tenon Medical, Inc. (TNON) Q2 2024 Earnings Call Transcript

~ Second Quarter 2024 Revenue Increased 21% Year-Over-Year ~ ~ Surgical Procedures Increased 7% Year-Over-Year in the Second Quarter 2024 ~ ~ Gross Profit Margin of 52% Marks One Year of Generating Positive Gross Profit ~ ~ Publication of Post-Market Study Interim Analysis Now Imminent ~ LOS GATOS, CA / ACCESSWIRE / August 13, 2024 / Tenon Medical, Inc. (NASDAQ:TNON)(NASDAQ:TNONW) ("Tenon Medical" or the "Company" or "Tenon"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today reported financial results for the second quarter ended June 30, 2024. Second Quarter 2024 and Subsequent Highlights Revenue of $901,000 in the second quarter of 2024, a 21% increase over the prior year quarter and a 25% increase over the first quarter of 2024.

Tenon Medical Reports Second Quarter 2024 Financial Results

LOS GATOS, CA / ACCESSWIRE / July 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced plans to release financial results for the second quarter 2024 ended June 30, 2024 after market close on Tuesday, August 13, 2024. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Second Quarter 2024 Financial Results

Tenon Medical, Inc. (NASDAQ:TNON ) Q1 2024 Earnings Conference Call May 14, 2024 4:30 PM ET Company Participants Steven M. Foster - Chief Executive Officer, President and Director Steven Van Dick - Chief Financial Officer, Executive Vice President of Finance and Administration Conference Call Participants Bruce Jackson - The Benchmark Company Anthony Vendetti - The Maxim Group Operator Greetings.

Tenon Medical, Inc. (TNON) Q1 2024 Earnings Call Transcript

~ Revenue Increased 66% Year-Over-Year ~ ~ Surgical Procedures Increased 42% Year-Over-Year ~ ~ Gross Margin Stabilized at 65% Sequentially ~ ~ Catamaran® SI Joint Fusion System Received Positive Fusion Results from Post-Market Study ~ LOS GATOS, CA / ACCESSWIRE / May 14, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today reported financial results for the first quarter ended March 31, 2024. First Quarter 2024 Highlights Revenue of $719,000 in the first quarter of 2024, a 66% increase over the prior year quarter.

Tenon Medical Reports First Quarter 2024 Financial Results

LOS GATOS, CA / ACCESSWIRE / April 30, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced plans to release financial results for the first quarter 2024 ended March 31, 2024 after market close on Tuesday, May 14, 2024. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of First Quarter 2024 Financial Results

Experienced Medical Devices Industry Executive Joins Tenon's Board of Directors LOS GATOS, CA / ACCESSWIRE / March 28, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that Kristine Jacques has been appointed as an independent member of the Company's Board of Directors on March 25, 2024, effective immediately. Following this appointment, Tenon Medical's Board of Directors consists of seven members, including four independent directors.

Tenon(R) Medical Appoints Kristine Jacques to its Board of Directors

Preliminary SI Joint Fusion Results Based on Independent Radiologist Review Indicate Robust Fusion at 12-Months Post-Procedure Initial Patient Results Demonstrate Marked Improvements in Pain Scores and Disability, Along with High Patient Satisfaction Ratings LOS GATOS, CA / ACCESSWIRE / March 26, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced significant progress in the post-market study utilizing the Company's Catamaran® SI Joint Fusion System. The study is a prospective, multi-center, single-arm post market study evaluating the clinical outcomes of patients with sacroiliac joint disruptions or degenerative sacroiliitis treated with the Catamaran SI Joint Fusion System.

Tenon(R) Medical Announces Positive Fusion Results in First Patients Reaching 12-Month Follow Up in an IRB Approved, Multi-Centered, Post-Market Study Utilizing the Catamaran(R) SI Joint Fusion System

Tenon Medical, Inc (TNON) Q4 2023 Earnings Call Transcript

Fourth Quarter 2023 Revenue Increased 192% Year-Over-Year Full Year 2023 Revenue Increased 324% Year-Over-Year Surgical Procedures Increased 179% Year-Over-Year in the Fourth Quarter and 312% for the Full Year 2023 Achieved Three Consecutive Quarters of Positive Gross Profit Margin in 2023 Catamaran® SI Joint Fusion System Included in a Series of Immersive Physician Webinar Training Programs Attended by Sixty Healthcare Providers in Q4 LOS GATOS, CA / ACCESSWIRE / March 12, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today reported financial results for the fourth quarter and full year ended December 31, 2023. Fourth Quarter & Full Year 2023 and Subsequent Highlights Revenue of $808,000 in the fourth quarter of 2023, a 192% increase over the prior year quarter.

Tenon Medical Reports Fourth Quarter and Full Year 2023 Financial Results

LOS GATOS, CA / ACCESSWIRE / February 27, 2024 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company transforming care for patients suffering with certain sacroiliac joint (SI Joint) disorders, today announced plans to release financial results for the fourth quarter and full year 2023 ended December 31, 2023 after market close on Tuesday, March 12, 2024. The Company will also hold a conference call the same day at 4:30 p.m.

Tenon Medical, Inc. Announces Timing of Fourth Quarter and Full Year 2023 Financial Results

Received Notice of Allowance from the USPTO on February 15, 2024 LOS GATOS, CA / ACCESSWIRE / February 22, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced that on February 15, 2024, the United States Patent and Trademark Office ("USPTO") issued a Notice of Allowance for U.S. Patent Application Serial Number 18/107,536 for Tenon's Catamaran® SI Joint implant for stabilizing a dysfunctional sacroiliac (SI) joint. A U.S. patent based on U.S. Patent Application Serial Number 18/107,536 should thus issue within the next ninety (90) days.

Tenon Medical, Inc. Announces Issuance of Notice of Allowance of Patent Application Which Further Enhances Important Claims for its Sacroiliac Joint Implant

Raises Approximately $2.6 Million in Gross Proceeds Retires $1.25 Million in Secured Debt This corrects and replaces the headline in the release that was disseminated earlier today. LOS GATOS, CA / ACCESSWIRE / February 21, 2024 / Tenon Medical, Inc. ("Tenon" or the "Company") (NASDAQ:TNON), a company transforming care for patients suffering with certain sacroiliac joint disorders, today announced the closing of a private placement of 172,239 shares of the Company's Series A Preferred Stock (the "Preferred Stock") and 258,374 warrants to purchase the Company's common stock at an exercise price of $1.27 per share at a combined offering price of $15.125 per share of Preferred Stock, for total gross proceeds of approximately $2.6 million.

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