LOS GATOS, CA — January 28, 2026 — Leads & Copy — Tenon Medical, Inc. (NASDAQ:TNON) today released a letter to shareholders from President and CEO Steve Foster, reporting preliminary unaudited fourth quarter revenue of approximately $1.45 to $1.48 million for the period ended December 31, 2025, representing approximately 90% growth compared to the fourth quarter ended December 31, 2024.
The company also reported preliminary unaudited full year 2025 revenue is expected to be approximately $3.91 to $3.94 million, representing approximately 20% year over year growth. These revenue results are preliminary and subject to adjustment upon completion of customary year-end audit procedures. The Company expects to report fourth-quarter and full-year 2025 financial results in March 2026.
Foster noted that 2025 was marked by strong commercial execution as the company advanced innovation and expanded its differentiated solutions in the marketplace. He said that the company delivered both sequential and year over year revenue growth and strengthened its liquidity position, placing Tenon on firmer financial footing heading into 2026. He added that the company’s expanding product portfolio, driven by the acquisition of sacroiliac joint-specific assets from SiVantage and the recent FDA clearance and commercialization of the SImmetry®+ SI Joint Fusion System, positions the company to scale revenue and address a broader range of sacro-pelvic fixation and fusion needs.
Throughout 2025, the company’s primary focus was advancing product innovation and generating robust clinical outcomes to transform Tenon into a multi-product, multi-approach company. Key milestones in 2025 included:
The acquisition of the SiVantage portfolio added active clinical cases, revenue-generating technologies, and a robust development pipeline to Tenon. This transaction strengthened the company’s commercial organization by adding proven commercialization professionals and expanding the breadth of its product offering. The SImmetry and SImmetry+ sacroiliac joint fusion systems bring a well-established clinical foundation and a differentiated fusion approach that complements the company’s existing Catamaran platform.
In 2025, Tenon completed the full commercial launch of the Catamaran SE SI Joint Fusion System, further strengthening its competitive position in the sacroiliac joint fusion market. Catamaran SE features a reduced implant profile, providing physicians greater flexibility when treating patients with smaller SI joint anatomy or performing revision procedures. The system maintains a minimally invasive inferior-posterior approach and incorporates a proprietary instrument set designed to support procedural efficiency.
Clinical momentum continued with the publication of a second peer-reviewed 12-month study from the MAINSAIL trial, reinforcing the company’s “fixation until fusion” strategy. The study demonstrated strong patient outcomes, including meaningful improvements in pain and disability scores, as well as 12-month CT-confirmed fusion outcomes. Notably, 83% of patients demonstrated unequivocal evidence of fusion with bridging bone across the SI joint at 12 months. The study also reported no serious adverse events, re-operations, or reinterventions, and 83% of patients reported high satisfaction with their outcomes.
In the first quarter of 2025, Tenon received FDA clearance for an expanded indication for the Catamaran SI Joint Fusion System to be used in augmenting thoracolumbar fusion. With this clearance, Catamaran may be utilized to augment spinal fusion procedures providing immobilization and stabilization of the SI joint, offering additional support at the base of lumbar or thoracolumbar fusion constructs.
The company believes 2026 will be a milestone year for Tenon, supported by a multi-platform sacro-pelvic fusion strategy that meaningfully strengthens its competitive position and enables physicians to tailor treatment to individual patient anatomy and pathology. Looking ahead, the company remains focused on accelerating adoption across its expanded product portfolio and leveraging recent regulatory and clinical milestones to support continued commercial growth.
Tenon Medical, Inc., a medical device company formed in 2012, has developed The Catamaran SI Joint Fusion System that offers a novel, less invasive approach to the SI joint using a single, robust titanium implant. Since the national launch of the Catamaran SI Joint Fusion System in October 2022, Tenon is focused on three commercial opportunities with its System in the SI Joint market which include: 1) Primary SI Joint procedures, 2) Revision procedures of failed SI Joint implants and 3) Augmenting spinal fusion.
Source: Tenon Medical, Inc.
