TELA Bio Inc

For the period ended Dec 31, 2023. Filed Mar 22, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Mar 22, 2024

TELA$0.80-7.5%Stored close · as of Nov 10, 2026

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Contents

Item 8. Consolidated Statements of Cash Flows

Consolidated Statements of Cash Flows

(In thousands)


· · Year ended December 31,
· 2023 · · 2022 · 2021
Cash flows from operating activities:
Net loss	$(46,664)	$(44,296)	$(33,276)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation expense	428	383	231
Noncash interest expense	599	657	664
Noncash loss on extinguishment of debt	—	1,228	—
Amortization of intangible assets	380	804	304
Net changes in operating lease ROU assets and liabilities	(49)	(36)	—
Inventory excess and obsolescence charge	1,414	1,866	1,439
Stock‑based compensation expense	5,032	3,989	3,661
(Gain) loss on disposal of fixed assets	(12)	—	2
Change in operating assets and liabilities:
Accounts receivable, net	(3,058)	(2,421)	(1,553)
Inventory	(2,718)	(6,073)	(5,194)
Prepaid expenses and other current assets	(81)	1,216	(992)
Accounts payable	11	(884)	1,597
Accrued expenses and other current and long-term liabilities	4,177	2,399	2,673
Foreign currency translation (gain) loss	(316)	420	12
Net cash used in operating activities	(40,857)	(40,748)	(30,432)
Cash flows from investing activities:
Payment for intangible asset	—	(1,000)	—
Purchase of property and equipment	(611)	(872)	(627)
Proceeds from the sale property and equipment	12	—	—
Net cash used in investing activities	(599)	(1,872)	(627)
Cash flows from financing activities:
Proceeds from sale of common stock, net of underwriting discounts, commissions and offering costs	46,341	34,400	—
Proceeds from issuance of long‑term debt	—	40,000	—
Repayment of long‑term debt	—	(30,000)	—
Payment of debt financing costs	—	(3,460)	—
Proceeds from exercise of stock options	127	19	547
Payment of withholding taxes related to stock-based compensation to employees	(289)	(157)	—
Proceeds from issuance of common stock under the employee stock purchase plan	88	50	38
Net cash provided by financing activities	46,267	40,852	585
Effect of exchange rate on cash and cash equivalents	164	(144)	11
Net increase (decrease) in cash and cash equivalents and restricted cash	4,975	(1,912)	(30,463)
Cash and cash equivalents and restricted cash, beginning of year	42,019	43,931	74,394
Cash and cash equivalents and restricted cash, end of year	$46,994	$42,019	$43,931
Supplemental disclosure of cash flow information:
Cash paid during the period for interest	$4,624	$3,394	$2,933
Supplemental disclosures of noncash investing and financing activities:
Property and equipment in accounts payable and accrued expenses and other current liabilities	$119	$7	$166
Issuance of common stock for early exercised stock options	$—	$—	$1
Reclassification of liability-classified stock-based compensation awards to equity-classified	$—	$—	$82
Operating lease ROU asset exchanged for operating lease liabilities	$895	$1,376	$—
Tenant improvement and deferred rent reclassified to operating lease liabilities	$—	$380	$—
Operating lease liabilities assumed for operating lease ROU assets	$—	$1,756	$—

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.