TNON

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue growth of 127% was primarily driven by a significant increase in surgical procedure volumes and the integration of the SImmetry+ system acquired last year. Gross margin expanded by approximately 21 percentage points to 64%, attributed to improved absorption of fixed production overhead and a more streamlined commercial footprint. Management identifies physician and distributor training as a leading indicator for growth, noting a 98% increase in training events during the first half of 2026. The commercial strategy focuses on positioning Catamaran and SImmetry+ as complementary tools for inferior, posterior, and lateral approaches to the same anatomy. Operational efficiency improved through the reclassification of certain Catamaran instruments from disposable to reusable status following a recent FDA 510(k) clearance. The new Tampa sales and training office has exceeded expectations, contributing to a record case value month in July and a strong start to the third quarter. Management expects gross margin expansion to continue as revenue increases and fixed costs are further absorbed within the cost of sales. The company plans to add further sales heads and distributor partners in the second half of the year to support commercial expansion. An enhanced SImmetry+ system featuring streamlined decortication is scheduled to become clinically active in the third quarter of 2026. Tenon is nearing an FDA 510(k) filing for a novel posterior approach technology, which is currently finishing testing phases. A diversified portfolio of sacropelvic technologies is expected to be delivered over the next 6 to 9 months through multiple R&D launches. A public offering closed on July 1, 2026, generating $4.2 million in gross proceeds to fund commercial expansion, clinical research, and debt repayment. Net loss for the first six months of the year included $900 thousand of non-cash interest expense. related to the amortization of original issue discounts on convertible notes. FDA 510(k) clearance received on July 2 for the Catamaran system includes instrument upgrades expected to reduce per-procedure costs starting in Q3. Operating expenses increased to $4.2 million, primarily due to higher sales and marketing costs associated with revenue growth and increased R&D investment. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed the SImmetry+ platform will see significant enhancements over the next 2 to 6 months, including a new decortication tool in October. Testing is being finalized for a novel posterior approach technology, with an FDA submission expected in the near future. The SiVantage portfolio is performing as expected, providing a foundation for lateral oblique procedure growth. Despite typical summer seasonality, the company is seeing an uptick in training demand due to the immersive environment of the new Tampa facility. The facility allows physicians to evaluate the full array of technologies, including imaging and navigation, which has driven record training activity. Management anticipates continued momentum as new product enhancements provide additional reasons for physicians to visit the site.

This article first appeared on GuruFocus. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Second quarter revenue increased 127% year-over-year to $1.3 million, a record for the period. Gross margin expanded significantly to 64% in Q2 2026, up from 43% in Q2 2025. Received FDA 510(k) clearance for the Catamaran SI joint fusion system, with instrument upgrades expected to reduce per-procedure costs and improve margins. Training events increased 98% in the first half of 2026 compared to the second half of 2025, driving record case volume in July. Closed a $4.2 million public offering in July 2026, providing additional capital to fund commercial expansion and R&D initiatives. Net loss widened to $4.1 million in Q2 2026 from $2.8 million in Q2 2025, partly due to non-cash interest expense on convertible notes. Cash and cash equivalents declined to $1.7 million as of June 30, 2026, from $3.8 million at the end of 2025. Operating expenses increased to $4.2 million in Q2 2026 from $3.1 million in Q2 2025, driven by higher sales and marketing and R&D costs. The company continues to report significant operating losses, with a six-month loss from operations of $6.6 million, essentially unchanged year-over-year. Dependence on future product launches and regulatory approvals (e.g., enhanced Symmetry Plus features) to sustain growth, which carry execution and timing risks. Warning! GuruFocus has detected 7 Warning Signs with TNON. Is TNON fairly valued? Test your thesis with our free DCF calculator. Q: Can you talk about any advancements in the SI Bandage product pipeline and how you're feeling about the regulatory and R&D on those?A: Steve Foster, President and CEO, explained that the SciVantage transaction brought the Symmetry Plus platform, which has three major components. The first was already released, the second is an enhanced decortication tool expected for clinical use in October, and the third is a novel implant construct that addresses physician needs. He noted a greatly enhanced Symmetry Plus platform will roll out over the next two to six months, making it attractive for physicians preferring lateral and oblique procedures. Additionally, SciVantage's novel posterior approach technology is finishing testing and preparing for FDA submission, with more details expected in the next quarterly review. Q: Given that summer might be a slower period for training new physicians, are there any special events or pushes planned through the end of the year to bring in and train new physicians on your technology?A: Steve Foster, President and CEO, acknowledged some seasonality in physician training but highlighted the newly opened Tampa training center, which has exceeded expectations in demand and visits. The facility offers a compelling environment with imaging, implant technology, and navigation technologies. He anticipates continued uptick in training activity, not only due to the facility but also as new Symmetry Plus enhancements and technologies roll out, providing more reasons for physicians to visit. Q: What drove the significant revenue and gross margin growth in the second quarter of 2026?A: Kevin Williamson, CFO, reported second-quarter revenue of $1.3 million, up 127% year-over-year, driven by a large increase in surgical procedures and the addition of Symmetry Plus revenue. Gross profit rose 232% to $0.8 million, with gross margin expanding to 64% from 43%. The improvement was primarily due to higher revenue and lower fixed costs, driving better absorption of production overhead costs. He expects gross margin to continue expanding as revenue increases. Q: What are the key financial highlights for the first half of 2026?A: Kevin Williamson, CFO, noted first-half revenue was $2.7 million, up 106% from $1.3 million in 2025, with gross profit of $1.8 million, up 210%, and gross margin of 66.2% versus 44.0%. Operating expenses increased to $8.4 million from $7.1 million, driven by higher sales and marketing and R&D expenses. Net loss was $7.5 million, or $23.16 per share, compared to $6.4 million, or $39.91 per share, in the prior year, with the increase primarily due to non-cash interest expense from convertible notes. Q: How is the company positioned regarding capital and cash runway after the recent public offering?A: Kevin Williamson, CFO, stated the company ended the quarter with $1.7 million in cash, down from $3.8 million at the end of 2025. Subsequent to quarter end, on July 1, the company closed a public offering with gross proceeds of $4.2 million, providing additional runway to fund commercial, clinical, and development priorities. He believes the financial and strategic actions position Tenon to drive continued growth into 2027 while maintaining a disciplined cost base. Q: What is the significance of the FDA 510(k) clearance for the Catamaran SI joint fusion system?A: Steve Foster, President and CEO, announced that subsequent to the quarter end, on July 2, the company received FDA 510(k) clearance for the Catamaran system. The updated clearance incorporates instrument upgrades and reclassifies certain instruments from disposable to reusable status. This is expected to improve system performance while reducing ongoing per-procedure costs, meaningfully improving margins beginning in Q3. Q: What are the key R&D initiatives and upcoming product launches?A: Steve Foster, President and CEO, highlighted three R&D initiatives: an enhanced Symmetry Plus system with streamlined decortication becoming clinically active in Q3, an enhanced feature to the Symmetry Plus implant nearing final development and approaching FDA filing, and progress on a third approach to the space with a novel product offering that meets a large unmet need. He expects a diversified and innovative portfolio of sacral pelvic technologies over the next six to nine months. Q: How is the company's commercial strategy progressing, particularly with sales force expansion?A: Steve Foster, President and CEO, noted the platform offering is progressing as planned, with physicians evaluating Catamaran and Symmetry Plus as complementary tools for posterior and lateral approaches. The company hired a seasoned professional sales lead for the East Coast team and expects to add further sales heads and distributor partners in the back half of the year. Training events increased 98% in the first half of 2026 compared to the second half of 2025, contributing to a record case volume month in July. Q: What is the company's outlook for the rest of 2026?A: Steve Foster, President and CEO, stated the focus is narrow: keep growing procedure volumes on both platforms, continue aggressive physician training and education, accelerate key R&D projects, and protect gross margin gains as the company scales. He expressed confidence in multiple ways to win in the market and intends to use them. Q: What caused the increase in operating expenses in the second quarter?A: Kevin Williamson, CFO, explained that operating expenses totaled $4.2 million in Q2 2026, up from $3.1 million in Q2 2025. The increase was primarily due to higher sales and marketing expenses associated with higher revenue, as well as higher research and development expenses as the company continues to work toward future product additions. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

~ Second Quarter 2026 Revenue of $1.3 Million, a 127% Increase Compared to Prior Year ~ ~ Second Quarter Gross Profit of $0.8 Million, a 232% Increase Compared to Prior Year; Gross Margin of 64% ~ ~ Received FDA 510(k) Clearance for Updated Catamaran® SI Joint Fusion System ~ ~ Physician and Distributor Training Events Increased 98% in 1H 2026 Compared to 2H 2025, Supporting Record Monthly Case Volume in July 2026 ~ ~ Closed $4.2 Million Public Offering Subsequent to Quarter End ~ LOS GATOS, CA / ACCESS Newswire / August 13, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders, today reported financial results for the second quarter ended June 30, 2026. Financial Results and Business Updates Second Quarter 2026 Results: Subsequent Updates On July 1, 2026, closed a best efforts public offering of common stock (or pre-funded warrants) and common stock purchase warrants for aggregate gross proceeds of $4.2 million, with net proceedsexpected to be used for partial repayment of convertible notes, commercial expansion, clinical research, and general corporate purposes. On July 2, 2026, the Company announced it received U.S. Food and Drug Administration 510(k) clearance for the Catamaran® SI Joint Fusion System. The updated clearance incorporates various instrument upgrades, as well as the reclassification of certain instruments from disposable to reusable status, which is expected to improve system performance while reducing ongoing per-procedure costs previously associated with disposable instrumentation. In July 2026, the Company recorded its highest monthly surgical case volume to date, following a 98% increase in physician and distributor training events in the first half of 2026 compared to the second half of 2025. On August 10, 2026, the Company effected a 1-for-35 reverse stock split of its common stock. The Company is currently working to regain compliance with Nasdaq listing requirements, including the minimum bid price rule. "Revenue of $1.3 million and gross profit of $0.8 million were each the highest we have reported in a second quarter, and the 64% gross margin demonstrates that the cost structure we've implemented is delivering as designed. Case volume grew across both the Catamaran® and SImmetry®+ platforms, and each incremental procedure is now carrying meaningfully more profit," said Steven M. Foster, President and CEO of Tenon Medical, Inc. "Along with record case volume, July added two more building blocks. The 510(k) clearance for our updated Catamaran® System moves several instruments from disposable to reusable, which we expect will take recurring cost out of cases we perform going forward, and the $4.2 million offering we closed on July 1 lets us reduce our convertible note balance while supporting our near-term commercial build-out and clinical program. Our focus through the balance of 2026 is straightforward: accelerating our development and product launch strategies, expanding training activities, and maintaining discipline on spend." Second Quarter 2026 Financial Results Revenue was $1.3 million in the second quarter of 2026, an increase of 127% compared to $0.6 million in the same period of 2025. Revenue for the six months ended June 30, 2026 was $2.7 million, an increase of 106% compared to $1.3 million in the six months ended June 30, 2025. The increase in revenue for the three months ended June 30, 2026 as compared to 2025 was primarily due to a significant increase in the number of surgical procedures, including the addition of revenue related to the SImmetry®+ System. Gross profit was $0.8 million, or 64% of revenue, in the second quarter of 2026, compared to $0.2 million, or 43% of revenue, in the second quarter of 2025. For the six months ended June 30, 2026, gross profit was $1.8 million, or 66% of revenue, compared to $0.6 million, or 44% of revenue, for the six months ended June 30, 2025. The twenty-one point gross margin improvement in the three months ended June 30, 2026 was primarily driven by higher revenue and lower fixed costs in the period, driving further absorption of production overhead costs within cost of goods sold. Operating expenses totaled $4.2 million in the second quarter of 2026, compared to $3.1 million in the second quarter of 2025. For the six months ended June 30, 2026, operating expenses totaled $8.4 million, compared to $7.1 million in the prior year period. The increase in the three months ended June 30, 2026 was primarily due to higher sales expenses associated with higher revenue, the expanded commercial team and ongoing rollout of the SImmetry®+ System, in addition to higher research and development expenses as we continue to work towards future product additions. Net loss was $4.1 million, or $12.35 per share, in the second quarter of 2026, compared to a net loss of $2.8 million, or $12.76 per share, in the second quarter of 2025. For the six months ended June 30, 2026, net loss was $7.5 million, or $23.16 per share, compared to a net loss of $6.4 million, or $39.91 per share, in the same year ago period. The year-over-year increase in the three months ended June 30, 2026 was largely driven below the line by non-cash interest expense of $0.9 million, which includes amortization of the original issue discount related to our convertible notes, partially offset by higher other income of $0.1 million, related to gains on the change in fair value of our derivative liability. As of June 30, 2026, cash and cash equivalents totaled $1.7 million, compared to $3.8 million at December 31, 2025. Subsequent to quarter end in July 2026, Tenon closed a public offering with gross proceeds of $4.2 million, with net proceeds of approximately $3.6 million. The Company intends to use the net proceeds for partial repayment of outstanding convertible notes, commercial expansion, clinical research, product development, and general corporate purposes. The Company's $5.2 million convertible notes mature on September 11, 2026 (extendable to December 11, 2026). A portion of the July 2026 offering proceeds will be used toward partial repayment; there can be no assurance the Company will repay or refinance these obligations in full. Second Quarter 2026 Earnings Conference Call Management will host a conference call at 4:30 p.m. ET (1:30 p.m. PT) today, August 13, 2026, to discuss Tenon's second quarter 2026 financial results, provide a corporate update, and conclude with Q&A with the Company's covering analyst. To participate, please use the following information: Please dial in at least 10 minutes before the start of the call to ensure timely participation. An audio playback of the call will be available through August 27, 2026, on Tenon's Investor Relations website at http://ir.tenonmed.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International). The access code will be 13761819. About Tenon Medical, Inc. Tenon Medical, Inc. is a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders. Tenon was incorporated in the State of Delaware in 2012 and currently offers two systems to treat a diseased sacroiliac joint (the "SI Joint"). The Company has developed The Catamaran® SI Joint Fusion System that offers a novel, less invasive approach to the SI Joint using a single, robust titanium implant. In August 2025, the Company acquired substantially all the assets of SiVantage, Inc. and SIMPL Medical, LLC, including the SImmetry+® SI Joint Fusion System, which treats disorders of the SI Joint through a minimally invasive lateral access solution that incorporates well-established orthopedic fusion principles. Since the national launch of The Catamaran System in October 2022, Tenon is focused on three commercial opportunities: 1) primary SI Joint procedures, 2) revision procedures of failed SI Joint implants and 3) SI-Joint fusion adjunct to a spine fusion construct. For more information, please visit www.tenonmed.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release. The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAIL™, and SImmetry+ are also trademarks of Tenon Medical, Inc. Safe Harbor This press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking statements often contain words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. These forward-looking statements include, but are not limited to, statements regarding the anticipated use of proceeds from the July 2026 offering, the Company's ability to continue as a going concern, the Company's ability to regain and maintain compliance with Nasdaq listing requirements; its plans to raise additional capital on acceptable terms or at all, the expected benefits of the updated Catamaran SI Joint Fusion System, future product development, commercial expansion plans, cost structure improvements, and anticipated case volume growth. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause Tenon's actual results to be materially different than those expressed in any forward-looking statements, please review Tenon's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and updated from time to time in our Form 10-Q filings and in our other public filings on file with the SEC at www.sec.gov, particularly the information contained in the section entitled "Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law. IR Contact: Shannon Devine203-741-8811MZ North [email protected] Tenon Medical, Inc.Condensed Balance Sheets (Unaudited)(In thousands, except share data) Tenon Medical, Inc.Condensed Statements of Operations and Comprehensive Loss (Unaudited)(In thousands, except per share data) SOURCE: Tenon Medical, Inc. View the original press release on ACCESS Newswire

LOS GATOS, CA / ACCESS Newswire / July 30, 2026 / Tenon Medical, Inc. (NASDAQ:TNON)("Tenon" or the "Company"), a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders, today announced plans to release financial results for the second quarter ended June 30, 2026 after market close on Thursday, August 13, 2026. The Company will also hold a conference call on the same day at 4:30 p.m. Eastern Time to discuss its financial results in further detail. The call will conclude with a Q&A session with its covering analysts. Please dial in at least 10 minutes before the start of the call to ensure timely participation. An audio playback of the call will be available through August 27, 2026,on Tenon's Investor Relations website at http://ir.tenonmed.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671(International). The access code will be 13761819. About Tenon Medical, Inc. Tenon Medical, Inc. is a medical device company dedicated to transforming care for patients with certain sacro-pelvic disorders. Tenon was incorporated in the State of Delaware in 2012 and currently offers two systems to treat a diseased sacroiliac joint (the "SI Joint"). The Company has developed The Catamaran™ SI Joint Fusion System that offers a novel, less invasive approach to the SI Joint using a single, robust titanium implant. In August 2025, the Company acquired substantially allof the assets of SiVantage, Inc. and SIMPL Medical, LLC, including the SImmetry+® SI Joint Fusion System, which treats disorders of the SI Joint through a minimally invasive lateral access solution that incorporates well-established orthopedic fusion principles. Since the national launch of The Catamaran System in October 2022, Tenon is focused on three commercial opportunities: 1) primary SI Joint procedures, 2) revision procedures of failed SI Joint implants and 3) SI-Joint fusion adjunct to a spine fusion construct. For more information, please visit www.tenonmed.com. Information on the Company's website does not constitute a part of and is not incorporated by reference into this press release. The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAILTM, and SImmetry+ are also trademarks of Tenon Medical, Inc. IR Contact:Shannon Devine203-741-8811MZ North [email protected] SOURCE: Tenon Medical, Inc. View the original press release on ACCESS Newswire

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Achieved record Q1 revenue of $1.4 million, nearly doubling year-over-year performance through increased Catamaran procedure volumes and the first full quarter of Symmetry Plus contribution. Expanded gross margin by 24 percentage points to 68.5%, driven by improved absorption of fixed production overhead and a more efficient commercial footprint. Transitioned from a single-approach company to a multi-platform provider, offering physicians optionality across interior, posterior, lateral, and oblique approaches to sacral pelvic anatomy. Strengthened the competitive moat by securing multiple notices of allowance from the USPTO, bringing the total intellectual property portfolio to 38 granted patents with 31 pending. Accelerated R&D velocity following the SciVantage asset acquisition, focusing on incremental additions to the Symmetry Plus platform to enhance joint preparation and construct effectiveness. Established a new training and education center in Tampa, Florida, to address increasing demand and accelerate the conversion of trained physicians into active users. Management expects structural gross margin gains to persist and further expand toward 70%+ as revenue scales and fixed logistics costs are absorbed. Full commercial launch of the Symmetry Plus screw technology is underway, transitioning from the alpha phase established in late 2025. Planned 2026 product roadmap includes the launch of 'Corticator' joint preparation technology followed by an incremental implant addition to the Symmetry Plus construct. Targeting a regulatory submission and subsequent alpha launch in Q4 2026 for a third surgical approach to the sacral pelvic anatomy, with full commercialization slated for Q1 2027. Operating expenses are expected to serve as a baseline for the year, with management intending to grow revenue and margins at a faster rate than fixed costs. Closed a $4.3 million senior convertible note placement in March 2026 to extend the cash runway and fund commercial expansion through the end of the year. Management acknowledged typical Q1 seasonality headwinds related to insurance deductible resets, though record results suggest strong underlying momentum despite these factors. Identified hospital Value Analysis Committees (VAC) and facility access approvals as a primary operational complexity and area for targeted commercial investment. Reported a narrowed net loss of $3.5 million, noting that higher sales and marketing expenses were partially offset by lower stock-based compensation. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management confirmed that while Q1 typically faces 'wild and crazy' December volume followed by deductible resets, the record Q1 results indicate strong adoption momentum. The company views the strong start as a launchpad for the remainder of 2026 rather than a seasonal peak. The Symmetry Plus lateral platform is moving from alpha to full launch, with two incremental components (joint preparation and a new implant) arriving later in 2026. A new third approach technology is expected to enter alpha testing in Q4 2026, adhering to core principles of joint preparation, grafting, and fixation. Training has evolved from a single-product focus to a comprehensive multi-approach curriculum, supported by the new Tampa facility. To increase conversion rates, Tenon is leveraging access points gained through the SciVantage acquisition to navigate complex hospital approval (VAC) committees more efficiently. Management expects margins to remain in the high 60s for the rest of 2026, with a clear path to 70%+ in 2027 as revenue scales. Expansion will be driven by spreading relatively small fixed production and logistics costs over a larger revenue base.

This article first appeared on GuruFocus. Release Date: May 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Tenon Medical Inc (NASDAQ:TNON) reported a strong first quarter revenue of $1.4 million, nearly doubling from the previous year. Gross margin improved significantly to 68.5%, up from 44.5% a year ago, marking the highest for any first quarter in the company's history. The company successfully trained 21 physicians across both systems, indicating strong physician engagement. Tenon Medical Inc (NASDAQ:TNON) closed a $4.3 million senior convertible note placement, enhancing financial flexibility for future investments. The company's intellectual property portfolio continues to strengthen, with multiple notices of allowance from the U.S. Patent and Trademark Office. Operating expenses increased to $4.2 million, slightly above the $4.0 million from the first quarter of 2025. Despite revenue growth, the company reported a net loss of $3.5 million for the quarter. The company faces challenges in navigating approval and access processes at medical facilities, which can delay product adoption. There is a reliance on continued physician training and engagement to drive product adoption and revenue growth. The company anticipates increased operating expenses due to investments in commercial activities and product launches. Warning! GuruFocus has detected 6 Warning Signs with TNON. Is TNON fairly valued? Test your thesis with our free DCF calculator. Q: Typically, surgical procedures are down in the first quarter due to co-pay resets. Given this, should we be encouraged by Tenon's strong Q1 numbers relative to Q4? A: Steve Foster, CEO: Absolutely. The dynamics of deductible resets are real, and things tend to settle in Q1. Despite this, we had a strong Q1, which is encouraging and sets a solid foundation for 2026. Q: How should we think about Q2 relative to Q1, and are there any launch metrics to gauge the progress? A: Steve Foster, CEO: We have a busy 2026 planned with Symmetry Plus moving from Alpha to full launch. Additional components will launch throughout the year, serving as catalysts for growth. We are not waiting for launches to drive growth but expect these new technologies to be significant catalysts. Q: Is Q1 OpEx a good baseline for the rest of the year, or should we expect changes? A: Kevin Williamson, CFO: Yes, Q1 OpEx is a good baseline. We expect to leverage the P&L and improve profitability by growing revenue and expanding margins faster than OpEx. There will be some investments, but they will be at a lower rate than revenue growth. Q: Can you discuss the new system expected for alpha release in Q4 2026 and its timeline for commercialization? A: Steve Foster, CEO: The new system will adhere to our core principles of fusion-focused approaches. It will enter alpha in Q4 2026, with a full launch planned for Q1 2027. Q: How has physician training evolved, and what are the plans to accelerate it? A: Steve Foster, CEO: Training has evolved significantly as we are no longer a single-approach company. We are investing in a training facility in Tampa to accommodate the growing demand and enhance training for physicians and distribution partners. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

~ First Quarter 2026 Revenue of $1.4 Million, an Increase of Approximately 90% Compared to Prior Year ~ ~ First Quarter Gross Profit of $0.9 Million, an Increase of Approximately 193% Compared to Prior Year ~ ~ Gross Margin Expanded Approximately 24 Percentage Points Year-Over-Year to 68.5% ~ ~ Closed $4.3 Million Senior Convertible Note Private Placement to Fund Commercial Expansion and Product Development ~ ~ Subsequent to Quarter End The Company Opened a new Center of Excellence Training Center in Tampa, FL, Along with Expansion of the Company's Sales Leadership Throughout the Eastern Region~ LOS GATOS, CA / ACCESS Newswire / May 12, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon Medical" or the "Company"), a company redefining care for patients suffering from sacro-pelvic disorders, today reported financial results for the first quarter ended March 31, 2026. Financial Results and Business Updates First Quarter 2026 Results: First quarter revenue of $1.4 million, an increase of approximately 90% compared to $0.7 million in the first quarter of 2025. First quarter gross profit of $0.9 million, an increase of approximately 193% compared to $0.3 million in the first quarter of 2025. Gross margin of 68.5%, a twenty-four percentage point improvement from 44.5% in the first quarter of 2025. Cash and cash equivalents of $4.6 million as of March 31, 2026, compared to $3.8 million as of December 31, 2025. Net loss of $3.5 million, or $0.31 per share, in the first quarter of 2026, compared to a net loss of $3.6 million, or $1.01 per share, in the first quarter of 2025. Strengthened the Company's intellectual property portfolio with multiple Notices of Allowance from the U.S. Patent and Trademark Office for patent applications expected to issue in 2026, building on the ten patents issued in 2025 (five U.S. and five international). The portfolio currently includes 29 issued U.S. patents and 9 issued international patents, along with 31 pending U.S. and foreign applications, further reinforcing protection around the Catamaran® and SImmetry®+ SI Joint Fusion Systems. Closed a private placement of senior convertible promissory notes with institutional and high-net-worth investors for aggregate gross proceeds of $4.3 million. The Company expects to use the net proceeds for commercial expansion, product development, clinical studies, working capital and general corporate purposes. Hosted 21 physicians in targeted training sessions for both Catamaran® and SImmetry® within the first quarter. "The first quarter of 2026 reflects the early returns on the strategy we have been executing, broadening our SI joint fusion platform, deepening surgeon engagement, and translating those investments into meaningful top-line growth. We delivered significant first quarter revenue of $1.4 million, up approximately 90% year-over-year, and significant first quarter gross profit of $0.9 million, up approximately 193%, demonstrating both the commercial traction of our Catamaran® and SImmetry®+ systems and the operating leverage we have been working to build." said Steven M. Foster, President and CEO of Tenon Medical, Inc. "Looking ahead, our priorities are clear: drive continued procedure growth across both Catamaran® and SImmetry®+, expand our base of trained surgeons, and maintain the disciplined cost structure that is now showing through in our gross margin and field productivity. With a differentiated multi-approach portfolio, a strengthened balance sheet, and the capital flexibility from our recent financing, we believe Tenon is well positioned to build on this quarter's momentum and deliver increasing value to patients, providers, and stockholders." First Quarter 2026 Financial Results Revenue was $1.4 million in the first quarter of 2026, an increase of approximately 90% compared to $0.7 million in the same period of 2025. The increase in revenue for the three months ended March 31, 2026 as compared to 2025 was primarily driven by continued adoption of our Catamaran system, leading to an increase in the number of surgical procedures, and the addition of revenue related to the SImmetry®+ System following the August 2025 acquisition. Gross profit was $0.9 million, or 68.5% of revenue, in the first quarter of 2026, compared to $0.3 million, or 44.5% of revenue, in the first quarter of 2025. The twenty-four percentage point gross margin improvement was primarily driven by higher revenue in the period, driving further absorption of production overhead costs within cost of goods sold. Operating expenses totaled $4.2 million in the first quarter of 2026, compared to $4.0 million in the first quarter of 2025. The increase in the three months ended March 31, 2026 was driven by higher sales and marketing expenses associated with increased commercial activity due to higher revenue and ongoing rollout of the SImmetry®+ System, partially offset by lower research and development expenses. Net loss was $3.5 million, or $0.31 per share, in the first quarter of 2026, compared to a net loss of $3.6 million, or $1.01 per share, in the first quarter of 2025. The year-over-year improvement was largely driven by increased revenue and gross profit, partially offset by higher operating expenses and interest expense related to the convertible notes issued in March 2026. As of March 31, 2026, cash and cash equivalents totaled $4.6 million, compared to $3.8 million at December 31, 2025. In March 2026, the Company closed a private placement of senior convertible notes for gross proceeds of $4.3 million to fund continued commercial expansion, upcoming product launches, clinical studies, working capital and general corporate purposes. First Quarter 2026 Earnings Conference Call Management will host a conference call at 4:30 p.m. ET (1:30 p.m. PT) today, May 12, 2026, to discuss Tenon's first quarter 2026 financial results, provide a corporate update, and conclude with Q&A with the Company's covering analyst. To participate, please use the following information: Please dial in at least 10 minutes before the start of the call to ensure timely participation. An audio playback of the call will be available through May 26, 2026, on Tenon's Investor Relations website at http://ir.tenonmed.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International). The access code will be 13759830. About Tenon Medical, Inc. Tenon Medical, Inc. is a medical device company founded in 2012 and committed to developing novel technologies for patients suffering from debilitating SI joint pain and dysfunction. The Company markets the Catamaran® and SImmetry+® SI Joint Fusion Systems, which offer a novel, less invasive approach to treating SI joint disease. Together, these platforms uniquely position Tenon with multiple surgical approaches, lateral and inferior-posterior, both designed to be minimally invasive, enable authentic arthrodesis, and supported by robust clinical evidence, including the published prospective Mainsail™ and EVoluSIon™ SI joint fusion studies. These differentiated technologies enable physicians to customize treatment plans through an innovative portfolio spanning SI joint fusion, spinal fusion, and deformity adjuncts, each solution engineered to deliver fusion outcomes more reliably. This multi-platform, multiapproach strategy strengthens Tenon's competitive advantage in the expanding SI joint fusion market and underscores the Company's commitment to delivering proven, durable outcomes for physicians and patients. Tenon is focused on three commercial opportunities in the SI joint market: 1) primary SI joint procedures, 2) revision of failed SI joint implants, and 3) augmenting spinal fusion. For more information, please visit www.tenonmed.com. The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAILTM, and SImmetry+ are also trademarks of Tenon Medical, Inc. Safe Harbor This press release contains "forward-looking statements," which are statements related to events, results, activities or developments that Tenon expects, believes or anticipates will or may occur in the future. Forward-looking often contains words such as "intends," "estimates," "anticipates," "hopes," "projects," "plans," "expects," "seek," "believes," "see," "should," "will," "would," "target," and similar expressions and the negative versions thereof. These forward-looking statements, include, but are not limited to, statements regarding the completion of the Offering, the satisfaction of customary closing conditions related to the Offering and the anticipated use of proceeds therefrom. Such statements are based on Tenon's experience and perception of current conditions, trends, expected future developments and other factors it believes are appropriate under the circumstances, and speak only as of the date made. Forward-looking statements are inherently uncertain and actual results may differ materially from assumptions, estimates or expectations reflected or contained in the forward-looking statements as a result of various factors. For details on the uncertainties that may cause Tenon's actual results to be materially different than those expressed in any forward-looking statements, please review Tenon's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and updated from time to time in our Form 10-Q filings and in our other public filings on file with the SEC at www.sec.gov, particularly the information contained in the section entitled "Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise unless required by law. Investor Contact Shannon DevineMZ North [email protected] Tenon Medical, Inc.Condensed Balance Sheets (Unaudited)(In thousands, except share data) Tenon Medical, Inc.Condensed Statements of Operations and Comprehensive Loss (Unaudited)(In thousands, except per share data) SOURCE: Tenon Medical, Inc. View the original press release on ACCESS Newswire

LOS GATOS, CA / ACCESS Newswire / May 1, 2026 / Tenon Medical, Inc. (NASDAQ:TNON) ("Tenon" or the "Company"), a company redefining care for patients suffering from sacro-pelvic disorders, today announced plans to release financial results for the first quarter ended March 31, 2026 after market close on Tuesday, May 12, 2026. The Company will also hold a conference call on the same day at 4:30 p.m. Eastern Time to discuss its financial results in further detail. The call will conclude with a Q&A session with its covering analysts. Please dial in at least 10 minutes before the start of the call to ensure timely participation. An audio playback of the call will be available through May 26, 2026, on Tenon's Investor Relations website at http://ir.tenonmed.com/ or via telephone replay by dialing 1-844-512-2921 (USA) or 1-412-317-6671 (International). The access code will be 13759830. About Tenon Medical, Inc. Tenon Medical, Inc. is a medical device company founded in 2012 and committed to developing novel technologies for patients suffering from debilitating SI joint pain and dysfunction. The Company markets the Catamaran® and SImmetry+® SI Joint Fusion Systems, which offer a novel, less invasive approach to treating SI joint disease. Together, these platforms uniquely position Tenon with multiple surgical approaches, lateral and inferior-posterior, both designed to be minimally invasive, enable authentic arthrodesis, and supported by robust clinical evidence, including the published prospective Mainsail™ and EVoluSIon™ SI joint fusion studies. These differentiated technologies enable physicians to customize treatment plans through an innovative portfolio spanning SI joint fusion, spinal fusion, and deformity adjuncts, each solution engineered to deliver fusion outcomes more reliably. This multi-platform, multiapproach strategy strengthens Tenon's competitive advantage in the expanding SI joint fusion market and underscores the Company's commitment to delivering proven, durable outcomes for physicians and patients. Tenon is focused on three commercial opportunities in the SI joint market: 1) primary SI joint procedures, 2) revision of failed SI joint implants, and 3) augmenting spinal fusion. For more information, please visit www.tenonmed.com. The Tenon Medical logo shown above, and Catamaran®, PiSIF®, CAT PiSIF®, ETAD®, Posterior Inferior Sacroiliac Fusion®, CAT SIJ Fusion System®, Catamaran SIJ Fusion System®, Catamaran Inferior Posterior Fusion System®, Catamaran Transfixation Fusion System®, Catamaran Transfixation Fusion Device®, SImmetry® are registered trademarks of Tenon Medical, Inc. MAINSAILTM, and SImmetry+ are also trademarks of Tenon Medical, Inc. Investor Contact Shannon Devine MZ North America 203-741-8811 [email protected] SOURCE: Tenon Medical, Inc. View the original press release on ACCESS Newswire

Achieved record full-year revenue of $3.9 million, driven by significant second-half momentum and a 92% increase in fourth-quarter revenue compared to the prior year. Performance was primarily propelled by growth in surgical procedure volumes across both Catamaran and SImmetry+ platforms, fueled by new physician adoption. Transitioned from a single-product provider to a multi-solution organization following the SiVantage transaction, allowing the company to address diverse patient anatomies and surgeon preferences. Improved gross margins to 69% in the fourth quarter through operational effectiveness initiatives, better field productivity, and increased leverage of commercial infrastructure. Strengthened the intellectual property estate to 29 issued U.S. patents and 31 pending applications, reinforcing the defensibility of both core technologies. Enhanced financial flexibility through a $2.85 million ATM PIPE and a subsequent $4.3 million private placement of senior convertible notes to fund commercial expansion. Management expects the fourth-quarter revenue run rate of $6 million to serve as a baseline for growth throughout 2026. The commercial rollout of the SImmetry+ system will be a primary catalyst for 2026, with a phased launch approach including upcoming additions to the construct. Anticipates further gross margin expansion as higher revenue volumes continue to absorb fixed costs within the cost of goods sold. Plans to submit new technologies to the FDA shortly to address primary cases, revision cases, and adjuncts to complex multi-level spine procedures. The current cash position and recent financing are expected to provide sufficient runway to fund commercial and clinical priorities deep into 2026. Received FDA 510(k) clearance for the next-generation SImmetry+ SI-Joint Fusion System, enabling a lateral surgical approach. Successfully completed early clinical 'alpha' cases with SImmetry+ at leading Centers of Excellence to validate market readiness. Operating expenses in the fourth quarter increased to $3.9 million, primarily due to higher variable sales and marketing costs driven by increased revenue. Management noted that while they do not provide specific future projections, the 2026 outlook is dependent on the successful execution of the new product pipeline. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management confirmed Q4 represents a better baseline for 2026 as one-time integration and deal-related costs from Q3 have fallen out. Future expenses will likely see higher variable components tied directly to revenue growth, but the overall run rate remains disciplined. Growth will be driven by the transition to a multi-product portfolio that offers physicians a 'full bag' of options for different surgical approaches. Specific catalysts include the full commercialization of SImmetry+, the launch of Catamaran SE, and new products currently moving through the development pipeline. The broader portfolio is opening doors at medical centers that were previously less accessible to a single-solution provider. Physicians have reacted positively to the 3D-printed technology of SImmetry+ and its highly refined instrument set, which improves surgical efficiency. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.