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Introduction Tenon Medical, Inc. ( we or the Company ) was incorporated in the State of Delaware on June 19, 2012 and was headquartered in San Ramon, California until June 2021 when it relocated to Los Gatos, California. We are a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders.
The business is unprofitable at the operating level (-324.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue up 20.4% YoY with margins expanding 95.7pp.
Negative free cash flow of -$11M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$5M
▲ +20.4% YoY
Net Income (TTM)
-$12M
▲ +8.2% YoY
Op. Margin
-269.63%
▲ +95.7pp YoY
ROIC
-191.16%
▲ +102.1pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$11M
▼ -9.5% YoY
Op. Cash Flow (TTM)
-$11M
▼ -8.8% YoY
Net Debt
-$3M
Net Cash Position
Cash & Equiv.
$5M
3Y CAGR: +78.7%
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