Tela Bio Inc Up 9.44% To $5.86 After Earnings Miss

TELA Bio Inc (TELA) reported less than expected earnings this afternoon for Q4 2023.

The consensus among analysts for Tela Bio Inc was for an earnings per share (EPS) loss of $0.43 per share. The firm failed to meet those projections, reporting an EPS loss of $0.53 per share, a negative surprise of $0.1 (-23%). Profits fell 2% year-over-year after reporting an EPS loss of $0.52 per share in its year-ago quarter. The negative growth rate signals that the Healthcare company is performing neutrally amid recent economic conditions.

Revenues were upbeat at $17 million. That is an increase of 46.26% in revenues from the year-ago report and is 3.71% higher than consensus estimates set at $16.4 million.

The stock is up 9.44% to $5.86 after the report.

Tela Bio Inc's revenue expanded at a faster pace than earnings, signaling a decline in profit margins.

The average recommendation from Wall Street analysts was a Strong Buy which may get revised based on this new data.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Tela Bio Inc has performed a little below average during the past few months. Before the report, Tela Bio Inc received a Long-Term Technical Rank by InvestorsObserver of 30, putting it in the bottom half of stocks.

TELA Bio Inc is a United States-based medical technology company. The company is involved in developing and marketing of tissue reinforcement materials to address unmet needs in soft tissue reconstruction. Its reinforced tissue matrices called OviTex improve the clinical outcomes and reduce costs of care in hernia repair, abdominal wall reconstruction and plastic and reconstructive surgery.