MALVERN, PA — TELA Bio, Inc. (NASDAQ: TELA) reported continued revenue growth and operational progress in the third quarter of 2025, supported by a strengthened leadership team, expanded sales infrastructure, and increased financial flexibility.
The company posted $20.7 million in revenue for the quarter, a 9% increase over the same period last year. Growth was driven by new customer acquisition, rising international demand, and the U.S. introduction of larger-sized OviTex PRS products. These gains were partially tempered by lower average selling prices for hernia solutions, reflecting a greater mix of smaller-sized units.
Gross profit rose to $14.0 million, representing 67.5% of revenue, while operating expenses declined to $21.5 million, aided by reduced severance and travel costs. The company reported a net loss of $8.6 million, an improvement from last year’s $10.4 million loss.
CEO Antony Koblish said the quarterly performance reflects meaningful progress in reshaping the company’s commercial footprint. President Jeffrey Blizard noted that investments in sales infrastructure and a patient-focused culture are beginning to yield measurable performance gains.
TELA also updated its 2025 financial outlook, projecting at least 16% year-over-year revenue growth.
Following the close of the quarter, the company secured a new credit facility of up to $70 million from Perceptive Advisors. The agreement includes an initial $60 million tranche already received and a potential $10 million additional draw available through April 2027, contingent on revenue milestones. The loan matures in late 2030 and carries interest at 7.85% plus the higher of one-month Term SOFR or 4.25%.
As of September 30, TELA held $29.7 million in cash and cash equivalents.
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