What guidance did Tenon Medical's management provide for the next earnings period?

Did Tenon Medical beat or miss consensus estimates last quarter?

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What is the revenue and EPS growth rate for Tenon Medical year over year?

What is Tenon Medical's gross profit margin?

What factors drove the changes in Tenon Medical's revenue and profit?

- **Revenue Surge**: 32% YoY growth to $1.2 million, fueled by Catamaran and SiVantage integration.
- **Clinical Validation**: 83% fusion rate and significant pain reduction validate Catamaran efficacy.
- **Strategic Expansion**: SImmetry+ alpha launch and hybrid sales model position for lateral approach dominance.
- **Financial Resilience**: $3.4 million cash post-PIPE, supporting aggressive growth without debt.

**【CEO Summary Section】**
- **Record Revenue Growth**: Q3 2025 revenue reached $1.2 million, a 32% year-over-year increase, driven by Catamaran procedure volumes and the SiVantage acquisition.
- **Product Launches**: Full launch of Catamaran SE with enhanced design for smaller SI joints; FDA clearance for SImmetry+ with alpha launch commencing.
- **Clinical Success**: Peer-reviewed study showed 83% fusion rate at 12 months, with significant pain reduction (VAS 78.8 to 23.0) and satisfaction rates.
- **Integration Progress**: Seamless integration of SiVantage assets, with key leadership onboarding and shared clinical principles.
- **Financial Health**: $3.4 million cash post-PIPE financing, supporting strategic initiatives.

**【CFO Commentary】**
- **Revenue Breakdown**: $1.1 million from Catamaran, $0.1 million from SiVantage; gross profit $0.8 million (66% margin), up from $0.4 million (47% margin) in Q3 2024.
- **Operating Expenses**: $4.2 million (32% YoY increase) due to acquisition-related costs; 9-month operating expenses down 6% to $11.3 million.
- **Net Loss**: $3.3 million, improved from $3.6 million in Q3 2024, with reduced fixed costs.
- **Liquidity**: $3.4 million cash, bolstered by $2.85 million PIPE for growth.

**【Q&A Highlights】**
- **Growth Expectations**: Sequential Catamaran growth in Q4, with SImmetry+ alpha launch contributing modestly.
- **Launch Strategy**: Focused alpha phase for SImmetry+ to gather feedback before broader rollout.
- **Sales Model**: Hybrid approach with trained distributors and direct sales, emphasizing multi-product expertise.
- **Payer Coverage**: Ongoing efforts to leverage clinical data for expanded coverage, prioritizing prospective studies.

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