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TNON 
Tenon Medical Inc (TNON)
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Upturn Advisory Summary
11/11/2025: TNON (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
2 Analysts rated it
Very few follow this stock; limited insights, higher-risk early investing.
1 Year Target Price $2.88
1 Year Target Price $2.88
| 1 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 3.64% | Avg. Invested days 33 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  5.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 11/11/2025 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 10.32M USD | Price to earnings Ratio 0.22 | 1Y Target Price 2.88 |
Price to earnings Ratio 0.22 | 1Y Target Price 2.88 | ||
Volume (30-day avg) 2 | Beta 1.28 | 52 Weeks Range 0.85 - 3.75 | Updated Date 11/12/2025 |
52 Weeks Range 0.85 - 3.75 | Updated Date 11/12/2025 | ||
Dividends yield (FY) - | Basic EPS (TTM) 5.52 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Earnings Date
Report Date 2025-11-11 | When After Market | Estimate -0.39 | Actual - |
Profitability
Profit Margin - | Operating Margin (TTM) -506.56% |
Management Effectiveness
Return on Assets (TTM) -94.35% | Return on Equity (TTM) -335.48% |
Valuation
Trailing PE 0.22 | Forward PE - | Enterprise Value 6493781 | Price to Sales(TTM) 3.5 |
Enterprise Value 6493781 | Price to Sales(TTM) 3.5 | ||
Enterprise Value to Revenue 2.2 | Enterprise Value to EBITDA -0.13 | Shares Outstanding 8602992 | Shares Floating 8209727 |
Shares Outstanding 8602992 | Shares Floating 8209727 | ||
Percent Insiders 14.93 | Percent Institutions 2.62 |
Upturn AI SWOT
Tenon Medical Inc
Company Overview
History and Background
Tenon Medical, Inc. is a medical device company focused on transforming spine surgery with innovative solutions for the treatment of the sacroiliac joint (SI joint). Founded to address the unmet needs in this area, they've developed a minimally invasive surgical (MIS) system designed for optimal fixation and long-term stability.
Core Business Areas
- SI Joint Fusion: Develops and markets the CATAMARANu2122 SI Joint Fusion System, a titanium implant system used in minimally invasive SI joint fusion surgery.
Leadership and Structure
The leadership team includes individuals with experience in medical device development, sales, and marketing. Specific details about the complete organizational structure can be found in their SEC filings.
Top Products and Market Share
Key Offerings
- CATAMARANu2122 SI Joint Fusion System: The CATAMARANu2122 SI Joint Fusion System is their flagship product, designed for minimally invasive SI joint fusion. Market share data is still growing as the company expands its commercialization efforts. Competitors include SI-BONE (SIBN), Medtronic (MDT) with their SI LOC system, and Globus Medical (GMED) with their ALTERA SI Joint Fusion System. Revenue is increasing but is still considered small as of last reporting
Market Dynamics
Industry Overview
The spinal implant and sacroiliac joint fusion market is growing, driven by an aging population, increasing prevalence of lower back pain, and advancements in minimally invasive surgical techniques.
Positioning
Tenon Medical Inc. is positioned as a company focused on the minimally invasive surgical market for SI joint fusion, offering a unique approach with their CATAMARANu2122 system. They have competitive advantages in ease of use, safety, and effectiveness of the implant.
Total Addressable Market (TAM)
The TAM for SI joint fusion is estimated to be in the hundreds of millions of dollars annually. Tenon Medical Inc. is positioned to capture a significant portion of this market through continued innovation and expansion of their sales network.
Upturn SWOT Analysis
Strengths
- Innovative product design (CATAMARANu2122 system)
- Focus on minimally invasive surgery
- Potential for strong intellectual property protection
Weaknesses
- Limited commercial history
- Reliance on a single product line
- Need to scale up manufacturing and sales operations
- Limited name recognition
Opportunities
- Expanding sales and marketing efforts
- Developing new products and indications
- Partnerships with hospitals and surgeons
- Acquisition by a larger medical device company
Threats
- Competition from established medical device companies (SIBN, MDT, GMED)
- Regulatory hurdles and reimbursement challenges
- Potential for product recalls or liability claims
- Economic downturn impacting healthcare spending
Competitors and Market Share
Key Competitors
- SIBN
- MDT
- GMED
Competitive Landscape
Tenon Medical Inc. faces competition from larger, more established medical device companies. Their advantage lies in their unique product design and focus on minimally invasive surgery. Disadvantages include their limited resources and commercial history.
Growth Trajectory and Initiatives
Historical Growth: Tenon Medical Inc. is in the early stages of its growth trajectory, with revenue increasing as they expand their commercial reach.
Future Projections: Future growth is dependent on continued market penetration, product adoption, and successful execution of their business plan. Analyst estimates may be available from financial data providers.
Recent Initiatives: Recent initiatives include expanding their sales team, increasing marketing efforts, and conducting clinical studies to support the efficacy of their CATAMARANu2122 system.
Summary
Tenon Medical Inc. is a promising company in the SI joint fusion market with its innovative CATAMARANu2122 system. While they have a strong product and focus on minimally invasive surgery, they face challenges related to competition, commercialization, and scaling operations. Successful execution of their growth strategy is crucial for long-term success. They should focus on expanding their sales network, securing favorable reimbursement policies, and establishing a strong brand presence.
Similar Stocks
Sources and Disclaimers
Data Sources:
- Tenon Medical Inc. SEC Filings (TNMD)
- Industry reports on spinal implants and SI joint fusion
- Analyst reports on medical device companies
Disclaimers:
This analysis is based on publicly available information and is not financial advice. Investment decisions should be made after consulting with a qualified financial advisor. Market share is estimated and may vary.
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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