TENON MEDICAL INC (TNON)
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
$3.72-1.33%
Close 2026-09-04 · 1-day change
NASDAQHealth CareMedical - DevicesSnapshot 2026-09-04
QuarterlyIQ Insights · TNON
How strong the business is — where it ranks within its sector on capital efficiency and cash generation, and how well management has been executing.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Continue expanding surgical procedure volume and product adoption to increase revenue and gross profit while improving gross margin and managing operating expenses.
Stated as a priority in 2 of last 2 quarters. Revenue grew from $0.7M in 2025-Q1 to $1.4M in 2026-Q1 (+90%) and from $0.6M in 2025-Q2 to $1.3M in 2026-Q2 (+127%). Gross margin improved from 44.5% to 68.5% in Q1 and from 43% to 64% in Q2. Operating expenses increased but reflect commercial expansion. The trajectory is delivering with strong revenue growth and margin improvement.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 1 of the last 3 quarter-over-quarter moves. Historically, Health Care names rated neutral grew net income 51% of the time over the next year (vs 41% for the rest of the cohort, n=13363).
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
“Revenue of $1.3 million, an increase of 127% compared to $0.6 million in Q2 2025; gross margin of 64%, a 21-point improvement.”
“First quarter revenue of $1.4 million, an increase of approximately 90% compared to prior year; gross margin of 68.5%, a 24-point improvement.”
Raise capital through private placements and public offerings to fund commercial expansion, product development, clinical research, and repay convertible notes.
Stated in 2 quarters and one event in 2026. The company closed a $4.3M convertible note placement in 2026-Q1, a $4.2M public offering in 2026-Q2, and entered a $3M private placement agreement in August 2026. These capital raises support commercial expansion and debt repayment. The trajectory shows active capital raising consistent with stated priorities.
“Closed $4.2 million public offering subsequent to quarter end to reduce convertible notes and support commercial expansion.”
“Closed $4.3 million senior convertible note private placement to fund commercial expansion and product development.”
Increase physician and distributor training events to support higher surgical case volume and commercial adoption of Catamaran and SImmetry+ systems.
Stated in 2 of last 2 quarters. Training events increased 98% in first half 2026 compared to second half 2025, with 21 physicians trained in 2026-Q1. This expansion supported the highest monthly surgical case volume recorded in July 2026. The trajectory is delivering on commercial build-out and training expansion.
“Training events increased 98% in first half 2026 compared to second half 2025, supporting record case volume in July 2026.”
“Hosted 21 physicians in targeted training sessions for Catamaran and SImmetry within first quarter.”
Regain and maintain compliance with Nasdaq minimum bid price rule to ensure continued listing on Nasdaq Capital Market.
Stated in 2 disclosures including 2026-Q2 and August 2026 press releases. The company regained compliance with Nasdaq minimum bid price rule following a 1-for-35 reverse stock split effective August 10, 2026. The matter is now closed per Nasdaq notification. The trajectory shows successful resolution of listing compliance.
“Company effected 1-for-35 reverse stock split on August 10, 2026 to regain Nasdaq compliance.”
Regain and maintain compliance with Nasdaq listing requirements including minimum bid price and stockholders' equity rules.
Over the trailing year it converted 0.73x of net income into operating cash flow.
Not enough signal yet.
Not enough signal to read sensitivity to the US dollar, the broad stock market, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity (low R² over the window).
26 material management or governance events in the past 24 months, led by capital-allocation actions. Historically, Health Care names rated volatile grew net income 53% of the time over the next year (vs 50% for the rest of the cohort, n=3986).
Not investment advice. As of 2026-09-04.