TNON · Tenon Medical, Inc. - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.38M | - | $1.17M | $564.0K | $726.0K | - | $887.0K | $901.0K | $719.0K | - |
| Cost of Revenue | $434.0K | - | $400.0K | $319.0K | $403.0K | - | $469.0K | $431.0K | $249.0K | - |
| Gross Profit | $945.0K | - | $773.0K | $245.0K | $323.0K | - | $418.0K | $470.0K | $470.0K | - |
| R&D | $662.0K | - | $428.0K | $503.0K | $691.0K | - | $657.0K | $708.0K | $669.0K | - |
| SG&A | $1.71M | - | $2.20M | $1.48M | $1.66M | - | $1.76M | $2.19M | $1.93M | - |
| Total Operating Expenses | $4.22M | - | $4.17M | $3.10M | $4.00M | - | $3.63M | $4.34M | $3.98M | - |
| D&A | $88.0K | - | $68.0K | $48.0K | $100.0K | - | $105.0K | $86.0K | $100.0K | - |
| Operating Income | ($3.28M) | - | ($3.39M) | ($2.86M) | ($3.68M) | - | ($3.21M) | ($3.87M) | ($3.51M) | - |
| Interest Expense | $176.0K | - | - | - | $34.0K | - | $4.0K | - | $34.0K | - |
| Income Tax | - | - | - | - | - | - | - | - | - | - |
| Net Income | ($3.48M) | - | ($3.34M) | ($2.77M) | ($3.62M) | - | ($3.18M) | ($3.83M) | ($3.58M) | - |
| EPS - Basic | ($0.31) | - | ($0.40) | ($0.36) | ($1.01) | - | ($3.63) | ($8.16) | ($10.00) | - |
| EPS - Diluted | $0.31 | - | ($0.40) | ($0.36) | ($1.01) | - | ($3.63) | ($8.16) | ($10.00) | - |
Balance Sheet
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.61M | $3.76M | $3.44M | $7.85M | $10.31M | $6.54M | $9.16M | $1.97M | $4.39M | $2.43M |
| Accounts Receivable | $1.97M | $1.70M | $1.31M | $770.0K | $886.0K | $863.0K | $876.0K | $679.0K | $571.0K | $518.0K |
| Inventory | $806.0K | $1.05M | $1.36M | $688.0K | $607.0K | $606.0K | $607.0K | $609.0K | $632.0K | $554.0K |
| Accounts Payable | $646.0K | $845.0K | $625.0K | $894.0K | $496.0K | $369.0K | $1.09M | $1.11M | $266.0K | $433.0K |
| Current Assets | $7.62M | $6.77M | $6.54M | $9.88M | $11.99M | $8.21M | $11.19M | $4.09M | $5.95M | $3.89M |
| Total Assets | $12.84M | $10.76M | $10.37M | $11.11M | $13.39M | $9.84M | $13.04M | $6.01M | $8.02M | $6.34M |
| Current Liabilities | $7.41M | $3.21M | $3.04M | $2.56M | $2.19M | $1.87M | $3.18M | $3.40M | $2.26M | $3.14M |
| Long-term Debt | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | $10.94M | $5.72M | $5.57M | $4.40M | $4.02M | $3.87M | $4.85M | $5.17M | $4.40M | $5.57M |
| Stockholders' Equity | $1.90M | $5.04M | $4.80M | $6.71M | $9.38M | $5.97M | $903.0K | $832.0K | $3.62M | $778.0K |
| Retained Earnings | ($84.78M) | ($81.30M) | ($78.47M) | ($75.13M) | ($72.36M) | ($68.75M) | ($65.66M) | ($62.48M) | ($58.65M) | ($55.07M) |
Cash Flow
| Line item | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | ($2.96M) | - | - | - | ($2.48M) | - | - | - | ($2.34M) | - |
| Investing Cash Flow | ($56.0K) | - | - | - | - | - | - | - | ($119.0K) | - |
| Financing Cash Flow | $3.87M | - | - | - | $6.26M | - | - | - | $4.37M | - |
| CapEx | $56.0K | - | - | - | $119.0K | - | - | - | - | - |
| Free Cash Flow | ($3.02M) | - | - | - | ($2.60M) | - | - | - | - | - |
Ratios
| Metric | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 |
|---|---|---|---|---|---|---|---|---|---|---|
| Profitability | ||||||||||
| Gross margin | 68.5% | - | 65.9% | 43.4% | 44.5% | - | 47.1% | 52.2% | 65.4% | - |
| Operating margin | -237.9% | - | -289.2% | -506.6% | -506.5% | - | -362.5% | -429.7% | -487.6% | - |
| EBITDA margin | -231.5% | - | -283.4% | -498.0% | -492.7% | - | -350.6% | -420.2% | -473.7% | - |
| Net margin | -252.1% | - | -284.7% | -491.0% | -498.1% | - | -359.0% | -424.6% | -497.4% | - |
| Free cash flow margin | -218.7% | - | - | - | -358.4% | - | - | - | - | - |
| FCF / Net income | 0.87 | - | - | - | 0.72 | - | - | - | - | - |
| R&D / Revenue | 48.0% | - | 36.5% | 89.2% | 95.2% | - | 74.1% | 78.6% | 93.0% | - |
| SG&A / Revenue | 123.6% | - | 187.5% | 262.4% | 228.9% | - | 198.9% | 242.6% | 267.9% | - |
| Effective tax rate | - | - | - | - | - | - | - | - | - | - |
| Return on assets | -27.1% | - | -32.2% | -24.9% | -27.0% | - | -24.4% | -63.7% | -44.6% | - |
| Return on equity | -183.4% | - | -69.6% | -41.2% | -38.6% | - | -352.6% | -459.9% | -98.7% | - |
| Return on invested capital | - | - | - | - | - | - | - | - | - | - |
| Liquidity | ||||||||||
| Current ratio | 1.03 | 2.11 | 2.15 | 3.86 | 5.46 | 4.39 | 3.52 | 1.20 | 2.63 | 1.24 |
| Quick ratio | 0.92 | 1.78 | 1.70 | 3.59 | 5.19 | 4.07 | 3.33 | 1.02 | 2.35 | 1.06 |
| Cash ratio | 0.62 | 1.17 | 1.13 | 3.06 | 4.70 | 3.50 | 2.88 | 0.58 | 1.94 | 0.77 |
| Leverage | ||||||||||
| Debt / Equity | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | - | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Interest coverage | -18.6x | - | - | - | -108.1x | - | -803.8x | - | -103.1x | - |
| Equity multiplier | 6.77 | 2.13 | 2.16 | 1.66 | 1.43 | 1.65 | 14.44 | 7.22 | 2.21 | 8.16 |
| Liabilities / Assets | 0.85 | 0.53 | 0.54 | 0.40 | 0.30 | 0.39 | 0.37 | 0.86 | 0.55 | 0.88 |
| Efficiency | ||||||||||
| Asset turnover | 0.11 | - | 0.11 | 0.05 | 0.05 | - | 0.07 | 0.15 | 0.09 | - |
| Inventory turnover | 0.54 | - | 0.29 | 0.46 | 0.66 | - | 0.77 | 0.71 | 0.39 | - |
| Days sales outstanding | 521d | - | 408d | 498d | 445d | - | 360d | 275d | 290d | - |
| Days inventory outstanding | 678d | - | 1245d | 787d | 550d | - | 472d | 516d | 926d | - |
| Days payable outstanding | 543d | - | 570d | 1023d | 449d | - | 851d | 941d | 390d | - |
| Cash conversion cycle | 656d | - | 1082d | 263d | 546d | - | -18d | -150d | 826d | - |
| Valuation | ||||||||||
| P / E | 2.3x | - | - | - | - | - | - | - | - | - |
| P / B | 0.0x | - | 0.0x | 0.0x | 0.0x | - | 0.0x | 0.0x | 0.0x | - |
| P / S | 0.0x | - | 0.0x | 0.0x | 0.0x | - | 0.0x | 0.0x | 0.0x | - |
| EV / EBITDA | - | - | - | - | - | - | - | - | - | - |
| Growth | ||||||||||
| Revenue growth (YoY) | 89.9% | - | 32.2% | -37.4% | 1.0% | - | -6.0% | 21.3% | 66.1% | - |
| Revenue CAGR (3y) | 47.1% | - | 78.0% | 194.9% | - | - | - | - | - | - |
| Revenue CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Gross profit growth (YoY) | 192.6% | - | 84.9% | -47.9% | -31.3% | - | -21.9% | 142.3% | - | - |
| Operating income growth (YoY) | 10.8% | - | -5.5% | 26.2% | -4.9% | - | 4.8% | 10.4% | 28.2% | - |
| Net income growth (YoY) | 3.9% | - | -4.9% | 27.6% | -1.1% | - | 4.4% | 10.7% | 26.0% | - |
| EPS growth (YoY) | - | - | 89.0% | 95.6% | 89.9% | - | -148.6% | -2372.7% | -2225.6% | - |
| EPS CAGR (3y) | - | - | - | - | - | - | - | - | - | - |
| EPS CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| FCF growth (YoY) | -15.9% | - | - | - | - | - | - | - | - | - |
| FCF CAGR (5y) | - | - | - | - | - | - | - | - | - | - |
| Book value growth (YoY) | -79.8% | -15.6% | 431.3% | 706.9% | 158.7% | 667.5% | -64.1% | -7.9% | 46.5% | -87.6% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2024-12-31.
Business segments
$3.28M totalAll Other Segments$3.28M · 100.0%
Peer comparison
Same SIC group: Surgical & Medical Instruments & Apparatus
Comparing Tenon Medical against the 5 most active filers in the same SIC group.