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Tenon Medical Inc (TNON)



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Upturn Advisory Summary
08/14/2025: TNON (2-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $2.75
1 Year Target Price $2.75
1 | Strong Buy |
1 | Buy |
0 | Hold |
0 | Sell |
0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 27.27% | Avg. Invested days 17 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 11.05M USD | Price to earnings Ratio 0.25 | 1Y Target Price 2.75 |
Price to earnings Ratio 0.25 | 1Y Target Price 2.75 | ||
Volume (30-day avg) 2 | Beta 1.24 | 52 Weeks Range 0.85 - 9.35 | Updated Date 08/15/2025 |
52 Weeks Range 0.85 - 9.35 | Updated Date 08/15/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 5.52 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) -506.47% |
Management Effectiveness
Return on Assets (TTM) -81.35% | Return on Equity (TTM) -210.97% |
Valuation
Trailing PE 0.25 | Forward PE - | Enterprise Value 7245110 | Price to Sales(TTM) 3.36 |
Enterprise Value 7245110 | Price to Sales(TTM) 3.36 | ||
Enterprise Value to Revenue 2.46 | Enterprise Value to EBITDA -0.13 | Shares Outstanding 7892220 | Shares Floating 7217530 |
Shares Outstanding 7892220 | Shares Floating 7217530 | ||
Percent Insiders 14.52 | Percent Institutions 2.71 |
Upturn AI SWOT
Tenon Medical Inc
Company Overview
History and Background
Tenon Medical Inc. is a medical device company focused on developing, manufacturing, and marketing innovative surgical solutions for the treatment of the sacroiliac joint (SI joint). Founded in 2012, Tenon Medical aims to address the limitations of existing SI joint fusion procedures with its minimally invasive, anatomically designed system.
Core Business Areas
- SI Joint Fusion Systems: Tenon Medical's primary focus is the development and commercialization of its CATAMARAN SI Joint Fusion System. This system is designed for minimally invasive SI joint fusion, aiming to provide stability and long-term pain relief.
Leadership and Structure
The company's leadership team consists of experienced professionals in the medical device industry, including the CEO, CFO, and key executives overseeing research and development, sales, and marketing. The organizational structure typically involves departments focused on product development, regulatory affairs, sales, marketing, and operations.
Top Products and Market Share
Key Offerings
- CATAMARAN SI Joint Fusion System: Tenon Medical's flagship product, designed for minimally invasive SI joint fusion. Market share data is not readily available. The TAM is described below. Competitors include SI-BONE (SIBN), Medtronic (MDT), and Globus Medical (GMED).
Market Dynamics
Industry Overview
The SI joint fusion market is growing due to increasing awareness of SI joint dysfunction as a cause of lower back pain and the development of minimally invasive surgical techniques.
Positioning
Tenon Medical positions itself as an innovator in minimally invasive SI joint fusion, offering a unique system designed for anatomical placement and stability.
Total Addressable Market (TAM)
The estimated TAM for SI joint fusion is several billion USD annually. Tenon Medical is positioned to capture a portion of this market through continued product development and commercial expansion.
Upturn SWOT Analysis
Strengths
- Innovative product design
- Minimally invasive approach
- Focus on SI joint fusion
- Strong intellectual property portfolio
Weaknesses
- Limited market share compared to larger competitors
- Reliance on a single product line
- Need to expand sales and marketing infrastructure
- Cash burn.
Opportunities
- Expanding market for SI joint fusion
- Increasing adoption of minimally invasive techniques
- Potential for strategic partnerships
- Product pipeline expansion
Threats
- Competition from established medical device companies
- Reimbursement pressures
- Regulatory hurdles
- Technological advancements by competitors
Competitors and Market Share
Key Competitors
- SIBN
- MDT
- GMED
Competitive Landscape
Tenon Medical is smaller when compared to larger competitors like Medtronic and Globus Medical, which have greater resources and established market presence. Tenon Medical's advantage lies in its focus and innovation, but its disadvantages are smaller market share, funding and resources.
Growth Trajectory and Initiatives
Historical Growth: Historical growth trends can be assessed by examining revenue and sales data over the past several years.
Future Projections: Future growth projections are based on analyst estimates and management guidance.
Recent Initiatives: Recent strategic initiatives may include product launches, partnerships, and market expansion efforts. Information from press releases should be consulted.
Summary
Tenon Medical is a small but innovative medical device company in the SI joint fusion market. They focus on minimally invasive products, giving them a competitive edge. However, they need to increase sales and market share to compete with larger companies. Reimbursement changes and market competition are things they need to keep an eye on.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company website
- SEC filings
- Industry reports
- Analyst estimates
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Market conditions and company performance may change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Tenon Medical Inc
Exchange NASDAQ | Headquaters Los Gatos, CA, United States | ||
IPO Launch date 2022-04-27 | CEO, President & Director Mr. Steven M. Foster | ||
Sector Healthcare | Industry Medical Devices | Full time employees 27 | Website https://www.tenonmed.com |
Full time employees 27 | Website https://www.tenonmed.com |
Tenon Medical, Inc., a medical device company, engages in the development of implant for the treatment of severe lower back pain in the United States. The company offers Catamaran SI-Joint Fusion System, an invasive approach to the sacroiliac joint (SI Joint) using a titanium implant for treatment of the most common types of SI Joint disorders that cause lower back pain. It also provides Catamaran Fixation Device which passes through both the axial and sagittal planes of the ilium and sacrum, transfixing the SI Joint along its longitudinal axis. Tenon Medical, Inc. was incorporated in 2012 and is headquartered in Los Gatos, California.

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