On November 12, 2026, Tenon Medical, Inc. (NASDAQ: TNON) reported its financial results for the third quarter ended September 30, 2026. The company reported third quarter revenue of $1.4 million, representing a 22% increase compared to the prior year period. For the nine months ended September 30, 2026, total revenue was $4.1 million, an increase of 66% compared to the same period in 2025.
Gross profit for the third quarter was $1.0 million, or 66.3% of revenue, an increase of 23% compared to the prior year. The company reported an operating loss of $3.1 million for the quarter, an improvement of $0.3 million compared to the third quarter of 2025. Net loss for the quarter was $6.6 million, or $5.39 per share.
As of September 30, 2026, Tenon Medical held $8.3 million in cash and cash equivalents, a significant increase from $3.8 million as of December 31, 2025. During the third quarter, the company raised approximately $15.6 million in aggregate gross proceeds through a public offering, a private placement, and warrant inducement transactions. Using these funds, the company repaid in full approximately $5.16 million of senior convertible notes ahead of their September 11, 2026 maturity date.
On the business operations front, Tenon Medical commenced the full commercial launch of its 3D-printed lateral screw for the SImmetry+ SI Joint Fusion System. This launch follows an alpha launch that generated approximately $1.2 million in revenue from late 2025 through the third quarter of 2026. Additionally, the company announced the completion of initial alpha cases for its Quickstep Decorticator, which is targeted for full market release in the first quarter of 2027.
In terms of personnel, the company hired Thomas Batton Jr. as Chief Revenue Officer, effective October 1, 2026. The company also expanded its intellectual property portfolio, adding eight new U.S. patents in 2026, bringing its total to 38 issued U.S. patents and nine international patents.
