Revenue: As of FY2026 Q1, the actual value is USD 1.379 M.EPS: As of FY2026 Q1, the actual value is USD -0.31, missing the estimate of USD -0.305.EBIT: As of FY2026 Q1, the actual value is USD -3.129 M.<h4>Overview and Net Loss</h4>Tenon Medical, Inc. reported a net loss of -$3,476 thousand for the three months ended March 31, 2026, compared to -$3,616 thousand for the same period in 2025, resulting in an accumulated deficit of approximately -$84.8 million as of March 31, 2026. The company’s operations are financed through public equity offerings, private placements, debt, and product sales, with a primary focus on research and development, regulatory matters, and sales and marketing of The Catamaran®™ SI Joint Fusion System and The SImmetry+® SI Joint Fusion System.<h4>Revenue and Gross Profit</h4><ul><li>Revenue: Revenue increased by 90% to $1,379 thousand for the three months ended March 31, 2026, from $726 thousand in the prior year period, primarily driven by a rise in surgical procedures and the addition of revenue from The SImmetry+ System.</li><li>Cost of Goods Sold: Cost of goods sold increased by 8% to $434 thousand for the three months ended March 31, 2026, from $403 thousand in the prior year period.</li><li>Gross Profit: Gross profit increased by 193% to $945 thousand for the three months ended March 31, 2026, from $323 thousand in the prior year period.</li><li>Gross Profit Percentage: The gross profit percentage improved to 69% for the three months ended March 31, 2026, from 44% in the prior year period, attributed to the absorption of production overhead costs and operating leverage from increased revenue volume.</li></ul><h4>Operating Expenses</h4><ul><li>Total Operating Expenses: Total operating expenses increased by 6% to $4,225 thousand for the three months ended March 31, 2026, from $4,000 thousand in the prior year period.</li><li>Research and Development (R&amp;D) Expenses: R&amp;D expenses decreased by 4% to $662 thousand for the three months ended March 31, 2026, from $691 thousand in the prior year period, mainly due to lower stock-based compensation and payroll expenses, partially offset by increased professional fees.</li><li>Sales and Marketing Expenses: Sales and marketing expenses increased by 13% to $1,858 thousand for the three months ended March 31, 2026, from $1,647 thousand in the prior year period, primarily due to increased payroll, commission, and consulting fees.</li><li>General and Administrative Expenses: General and administrative expenses increased by 3% to $1,705 thousand for the three months ended March 31, 2026, from $1,662 thousand in the prior year period, driven by increased payroll, professional service fees, and insurance costs, partially offset by decreased stock-based compensation.</li></ul><h4>Other Income and Expense</h4><ul><li>Gain on Investments: Gain on investments decreased to $25 thousand for the three months ended March 31, 2026, from $61 thousand in the prior year period.</li><li>Interest Expense: Interest expense was -$176 thousand for the three months ended March 31, 2026, related to convertible notes, with no comparable expense in the prior year.</li><li>Other Expense: Other expense was -$45 thousand for the three months ended March 31, 2026, related to losses on the change in fair value of derivative liability, with no comparable expense in the prior year.</li><li>Loss from Operations: Loss from operations was -$3,280 thousand for the three months ended March 31, 2026, compared to -$3,677 thousand in the prior year period.</li></ul><h4>Cash Flow</h4><ul><li>Net Cash Used in Operating Activities: Net cash used in operating activities was -$2,960 thousand for the three months ended March 31, 2026, an increase from -$2,483 thousand in the prior year period.</li><li>Cash Used in Investing Activities: Cash used in investing activities was -$56 thousand for the three months ended March 31, 2026, for purchases of property and equipment, compared to $0 in the prior year period.</li><li>Cash Provided by Financing Activities: Cash provided by financing activities was $3,867 thousand for the three months ended March 31, 2026, primarily from gross proceeds of convertible notes, compared to $6,259 thousand in the prior year period.</li><li>Net Increase in Cash and Cash Equivalents: Net increase in cash and cash equivalents was $851 thousand for the three months ended March 31, 2026, compared to $3,776 thousand in the prior year period.</li><li>Cash and Cash Equivalents at End of Period: Cash and cash equivalents stood at $4,607 thousand as of March 31, 2026, compared to $3,756 thousand as of December 31, 2025.</li></ul><h4>Outlook and Strategic Plans</h4>Tenon Medical, Inc. expects operating expenses to increase in absolute dollars due to continued investment in sales and marketing, research and development, and general and administrative functions. The company faces substantial doubt about its ability to continue as a going concern due to insufficient existing cash and plans to raise additional capital through equity offerings, debt, and collaborations. Furthermore, Tenon Medical, Inc. received a Nasdaq notification for not meeting the minimum bid price requirement and has until August 24, 2026, to regain compliance.

Tenon Medical | 10-Q: FY2026 Q1 Revenue: USD 1.379 M