TELA Bio, Inc. (NASDAQ:TELA) Q1 2023 Earnings Conference Call May 11, 2023 6:00 PM ET

Company Participants

Louisa Smith - Gilmartin Group

Tony Koblish - President and CEO

Roberto Cuca - COO and CFO

Conference Call Participants

Kyle Rose - Canaccord

David Turkaly - JMP

Michael Sarcone - Jefferies

Operator

Good afternoon, ladies and gentlemen, and welcome to the TELA Bio First Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. As a reminder, this conference call is being recorded.

And I would now like to turn the conference over to Louisa Smith from the Gilmartin Group. Ms. Smith please, go ahead.

Louisa Smith

Thank you, Chris and good afternoon, everyone. Earlier today, TELA Bio released financial results for the first quarter 2023. A copy of the press release is available on the Company's website. Joining me on today's call are Tony Koblish, President and Chief Executive Officer; and Roberto Cuca, Chief Operating Officer and Chief Financial Officer.

Before we begin, I'd like to remind you that during this conference call, the Company may make projections and forward-looking statements regarding future events. We encourage you to review the Company's past and future filings with the SEC, including, without limitation, the Company's annual report on Form 10-K and quarterly reports on Form 10-Q, which identify the specific factors that may cause actual results or events to differ materially from those described in these forward-looking statements.

These factors may include, without limitation, statements regarding product development and pipeline opportunities, product potential, the impact of various macroeconomic conditions, including the ongoing response to the COVID-19 pandemic, recessionary concerns, banking and stability and inflationary pressures, the regulatory environment, sales and marketing strategies, capital resources or operating performance.

With that, I'll now turn the call over to Tony.

Tony Koblish

Thank you, Louisa. Good afternoon, everyone, and thanks for joining us today for our first quarter 2023 earnings call. I'm pleased to report the TELA team delivered another outstanding quarter with revenue of 11. 9 million growing 45% year-over-year. Our hernia and PRS products both posted impressive gains even though elective procedure volumes have still not returned to 2019 pre-pandemic levels. However, we are seeing evidence of procedures trending in the right direction. As I've been doing in our recent earnings calls, I'll take a few minutes to update you on our progress on the five factors that drive our revenue growth.