Tenon Medical, Inc. (TNON)

In August 2025, TENON Medical reported declines in revenue and gross margin for Q2 2025, but highlighted the CyVantage acquisition. In November 2025, the company reported record Q3 2025 results with a 32% year-over-year revenue increase and improved gross margin, partly due to the SiVantage acquisition, and completed a $2.85 million PIPE financing. In December 2025, initial cases using the new SImmetry+ SI Joint Fusion System were successfully completed. In January 2026, preliminary Q4 2025 revenues were projected to be between $1.45 million and $1.48 million, representing approximately 90% year-over-year growth. In February 2026, the company announced plans to release its Q4 and full year 2025 financial results on March 19, 2026. Over the last 12 months, the stock price has decreased by 45.77%, and in the past month, it decreased by 9.53%, reaching a 52-week low of $0.85.

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TENON Medical, Inc., established in 2012, is a medical device company focused on developing implants for treating severe lower back pain, particularly SI Joint disorders. Their main product is The Catamaran SI Joint Fusion System, a minimally invasive solution using a titanium implant. They also offer the Catamaran SE SI Joint Fusion System and, after acquiring assets from SiVantage, the SImmetry and SImmetry+ SI Joint Fusion Systems. The company targets primary SI Joint procedures, revision procedures, and SI Joint fusion as an adjunct to spinal fusion.

TENON Medical, Inc. operates in the United States and Puerto Rico, with its headquarters in Los Gatos, California.

TENON Medical's brand reputation has been positively influenced by FDA clearances for its Catamaran SI Joint Fusion System, including an expanded indication for thoracolumbar fusion. The acquisition of SiVantage's assets and the FDA clearance of the SImmetry+ SI Joint Fusion System have enhanced their product offerings. Positive clinical evidence, such as the MAINSAIL study's 83% CT-confirmed fusion rate, has also contributed to a favorable reputation. No explicit negative events impacting its brand reputation were found in the past year.

TENON Medical, Inc. has 19 institutional owners and shareholders holding a total of 284,696 shares. Major institutional shareholders include Vanguard Group Inc., Geode Capital Management, Llc, and SBI Securities Co., Ltd. Institutional investors own 22.74% of Tenon Medical's stock, while insider ownership stands at 7.36%.