TELA Bio, Inc. (NASDAQ:TELA) Q3 2024 Earnings Conference Call November 7, 2024 4:30 PM ET

Company Participants

Louisa Smith - Vice President, Gilmartin Group
Tony Koblish - President & Chief Executive Officer
Roberto Cuca - Chief Operating Officer & Chief Financial Officer

Conference Call Participants

Caitlin Cronin - Canaccord Genuity
Frank Takkinen - Lake Street Capital Markets
Michael Sarcone - Jefferies

Operator

Good afternoon, ladies and gentlemen, and welcome to the TELA Bio Third Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the prepared remarks. As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Louisa Smith from the Gilmartin Group. Please go ahead.

Louisa Smith

Thank you, Leonardo, and good afternoon, everyone. Earlier today, TELA Bio released financial results for the third quarter of 2024. 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 Forms 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, changes in surgical procedure volumes due to various factors and conditions identified in our filings, changes in the regulatory environment and in our sales and marketing strategies, our capital resources, and our operating performance.

I'd now like to turn the call over to Tony.

Tony Koblish

Thanks, Louisa, and good afternoon, everyone. Thank you for joining TELA Bio's third quarter 2024 earnings call. Roberto and I will provide our respective updates on the quarter and review our financial results before we open the call up for your questions.

I am pleased to report that we delivered a very strong third quarter that marked a return to growth rates across the portfolio more consistent with what we've delivered historically. Recall, last quarter, we had to work through the impact of cybersecurity events that affected some of our hospital customers. That effect appears confined to that period as evidenced by revenue for Q3 of $19 million, a 26% year-over-year increase.