Tenon Medical, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $3.9M | $3.3M | $2.9M | $691,000 | $160,000 |
| Cost of revenue | $1.6M | $1.6M | $1.7M | $1.3M | $55,000 |
| Gross profit | $2.4M | $1.7M | $1.2M | -$641,000 | $105,000 |
| Research and development | $2.1M | $2.6M | $3.2M | $2.8M | $1.7M |
| Operating expenses | $15.2M | $15.5M | $17.0M | $18.1M | $6.6M |
| Operating income | -$12.8M | -$13.8M | -$15.7M | -$18.7M | -$6.5M |
| Interest expense | — | $34,000 | $21,000 | $354,000 | — |
| Pretax income | — | — | — | -$18.9M | -$7.1M |
| Income tax expense | — | — | — | $1,000 | $2,000 |
| Net income | -$12.6M | -$13.7M | -$15.6M | -$18.9M | -$7.0M |
| Balance Sheet | |||||
| Cash and equivalents | $3.8M | $6.5M | $2.4M | $2.1M | $2.9M |
| Current assets | $6.8M | $8.2M | $3.9M | $9.3M | $7.7M |
| Total assets | $10.8M | $9.8M | $6.3M | $11.1M | $9.3M |
| Current liabilities | $3.2M | $1.9M | $3.1M | $2.5M | $15.3M |
| Total liabilities | $5.7M | $3.9M | $5.6M | $4.8M | $16.2M |
| Stockholders' equity | $5.0M | $6.0M | $778,000 | $6.3M | -$20.6M |
| Cash Flow Statement | |||||
| Cash from operations | -$10.7M | -$9.9M | -$12.2M | -$12.0M | -$4.3M |
| Depreciation and amortization | $238,000 | $395,000 | $199,000 | $78,000 | $2,000 |
| Stock-based compensation | $1.7M | $3.8M | $4.1M | $2.9M | $377,000 |
| Capital expenditure | $273,000 | $186,000 | $361,000 | $847,000 | $102,000 |
| Free cash flow | -$11.0M | -$10.1M | -$12.5M | -$12.9M | -$4.4M |
Shares outstanding 11.6M · Free float 52.2%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.