TELA - Earnings call transcript Q4 2020

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Operator

Ladies and gentlemen, thank you for standing by. Welcome to the TELA Bio Fourth Quarter Earnings Conference Call. At this time, all participant lines are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today’s conference is being recorded. now Chodaczek hand from would speaker conference I Greg today, Gilmartin Instructions] like the to to [Operator Group. Please go ahead sir.

Greg Chodaczek

and results quarter on the Thank Bio of the XX, Victor, good website. is Earlier copy everyone. you, available release today, XXXX. released A financial year for and fourth company's press the ended December afternoon TELA

highlights the and Joining and our of Brennan, CFO. Nora me CEO; and and overview provide will today's on Nora performance. fourth an will then call call begin a President our of providing are operational full-year Tony Koblish, analysis by Tony detailed financial quarter

review actual Before the company's in filings future sales remind the company Tony. product performance. call specific materially we you XX-Q past statements potential, I'll results company's SEC, strategies, statements to projections with call, the including identify that, differ make regarding the or and to development, factors conference to forward-looking statements. and XX-K that or resources, this to We capital the the include, begin, will events. like which regarding Forms and that limitation, I'd the without future marketing limitation, during now With you may environment, regulatory forward-looking over may factors and these turn cause without events described and product those operating from These encourage

Antony Koblish

you time to the We join taking Thanks, appreciate Greg everyone. good and today. afternoon, us

momentum and team’s materials recognize progress soft the our meaningful in our plan work be reviewing XXXX, areas leader has challenges developing tissue COVID-XX, Before to of past our reconstruction. dedication the over all and of innovator our business In months. hard uncertainties tissue company a we build at in to this highlights, continue to reinforcement like Bio for and on XX I’d and TELA despite operational made

Medtech into $X.X experienced strong fourth for we quarter companies the growth Now of XXXX. OviTex revenue procedures, XX% were and the million, and many the products to year-over-year our November sales Like lows quarter reporting Throughout October optimistic use and and was growth. we turning in results, our about up highs surgical total both compared fourth were cautiously for approximately fourth quarter. with picking product representing to of

the than the the we trend have trends through This into demand improved. experienced and continuing second in cases with Holidays the increased. as However, hospitalizations others. approached January of early in for volatility quarter, in procedure as of February Starting products being some half worse increased surgical our country areas and COVID today, continued

these and year continue hopeful will challenge the COVID-XX experts. to the trends throughout forecasting a cases and we’re best While hospitalizations is is left

be Last a I’d is Starting to for XX% of have XXXX. the Before treatment hernia the study or and the very for Nora, with a of our Grade some the latest XX-months reminder, occurred study XX Grade multicenter our criteria to data Hernia for patients two which follow-up of recurrences, clinical as ventral week, of only completed the to designed like of the of adjacent both data publication, X. we the good, prospective or participants met call Working turning Ventral evaluate X the BRAVO accomplishments repair. Group having our to set talk their about with XX% continues and submitted XX hernias, the over study BRAVO performance from to OviTex

removal. XX occurrence recurrence. and surgical and addition, patients, follow-up XX completed their surgical intervention this XX SSO these and not one experienced or site hernia a between the XX-month none did months XX patients new require In only experienced Of implant

account published rates to for recurrence our XX OviTex on mesh Today, data, very the we’re on repair. the resortable robotic are delays months. XXXX, scheduling XX repairs due another to XX persuading for site months in is data to hernia OviTex. the These and rates considered validated XX plastic clinical latest to out we adopt and vital results for months or the procedure X.X% Based to expect the estimates, verification, post us surgeons year. of noted are hernia the on be the have tightly in area trial which compare of fit synthetics, we and its to As XX for to favorably down by use robotic experiencing at visits In Based at X% hernia and ability follow-up goal data our previous patients success patients been roll is calls, current for most at it that month for standard strength trocar. synthetics has have the data end BRAVO biologics.

to minimally due and of the share OviTex, However, we’re gaining unique invasive market properties procedures. hernia robotic with

lawsuits increase point data our in sales. the of unit a of survey. our our synthetic data XX% LPR increasing have and we XX,XXX on alone. and For fourth of Rhode procedures, mesh been Based This quarter, Island came number with recently coincides completed over an cases products that with of subject usage in filed we saw we approximately the estimate from the sequential compiled robotic XX% the nicely state MIS

headlines, something are would make number of be plastic used. patients prefer could to Also natural this of about more As tell continues use XX% of hopeful We will synthetic concerned grow, nearly us surgeons surgeon XX% from will we mesh mesh benefit their approximately the migration and long-term mesh the as plastic surveyed sales and believe of we’re resolves. risk complications. and the probably OviTex that it continue that that of causes believe

Regarding is what expansion to is scan we and with with for dollar the technique in as and material situations. unit record continued vastly emerging growth that of opportunity products we’re today experienced the very the and quarter. for pleased a This volume a could new launch reconstructive to technology. PRS the giving administration This paradigm a needs for and supply of very ever variability plastic preferences. PRS that tuned all that is chain real patient one portfolio It there's are different products the different surgeon encouraging exists market, and access

year our matrices in IDN TELA GPO reconstruction, high approximately requests point developed our This as in remains sales they’re up surgeons As especially is plastic ADM. we’re been start Acellular virtual plastic Engagement of the data response referencing portfolio. consistent these about solution have receiving for surgeons portfolio or advancements Since surgeons with tick a us with programs and we mentioned the designed of pandemic marketing and and have relates seeking to and many told the we LIVE, it dermal have product number third to the plastic clinical to our educate XXX PRS last data. in participated roughly cross surgeons.

at of the by XXXX, to grow we XX territories reps. filled continue team, XX our have We and sales end commercial

goal number number seeing access as from and XXX, ease increasing. Our believe remainder to hospital the XXXX finally, we major through number to requests also will customers are HealthTrust our to reps coverage fourth middle increase IDNs the physical of and surgeries. GPOs. the quarter, we we And making is accounts, of filling have have accounts that our our sales with our of reps XXX is to more increased the to hospitals to In beginning the of of we in sure reps HealthTrust be continue of sales to year. XX place by expect in the reps These all cover

to We are the more Nora expect I’d call review quarter vaccines summary. this trend like over now financial to continue our to out. as full-year fourth rolled now turn to and

Nora Brennan

and issued the press $X.X everyone. today and also results, fourth release quarter of refer guidance increased earlier Hello, Tony year-over-year on results our I’ll summary for a commenting Please financial XXXX to quarter Thanks, our XX% XXXX. provide financial full-year our fourth Revenue After XXXX. of our for to million. the for financial for

the primarily revenue and full-year full-year in our to period million penetration quarter XX% our Sales due XXXX, gross increased of accounts. percentage increased For organization as increase products. improved the Gross million that the existing to of XXXX. in $X.X and in quarter in were increased to expansion to periods XXXX The in respective was XXXX. prior-year for both to on fourth compared marketing XX% both and commercial the profit to XX%. life million our full-year the periods compared to quarter due within from same customer XX% a management periods revenue compared shelf margins of gross inventory XX% XXXX fourth the longer from expenses the margins products while period, in increased to Fourth OviTex prior-year $X.X $XX.X

million were expenses due million, XXXX, in million $XX.X in $XX.X partially increase activities lower to The the the were quarter XXXX. by expansion compared periods organization full-year and in was XXXX of expenses period and million in to sales G&A full-year offset commercial consulting for of the compared both $X.X related to expenses. XXXX. and the the fourth same the $X.X For travel marketing

costs quarter than to XXXX million slightly premiums, costs For the additional XXXX. in due for in an full-year compared increase quarter personnel and The higher increase insurance costs $X.X in and of fees. to R&D the XXXX was and $XX.X fourth in million testing fees. both XXXX, professional primarily on periods XXXX. full-year expenses million $X.X XXXX $X.X personnel were million G&A the based expenses Fourth R&D were period the were same in

to the R&D XXXX $X.X Loss million XXXX in from of operations compared prior-year to fourth period. was relatively XXXX. full-year in flat costs However, compared $X.X the million remain quarter

from loss for was to operations million period compared of XXXX, fourth million compared in the XXXX. XXXX $XX.X full-year million, XXXX. same quarter in $XX.X loss the Net million the For $X.X was to in $X.X

for year-end and ended equivalents increasing offering XXXX cash, approximately net loss million cash at $XX.X from million million to For investments net the XXXX. $XX.X public full-year of company's short-term and XXXX, $XX.X completed June the We XXXX. cash million, to equivalents with This in XXXX. million compared includes compared $XX.X $XX.X was of cash proceeds in

outlook the Now to for XXXX. turning

representing the revenues $XX million over to $XX growth XX% XX% total expect of We to to XXXX. be million range in of

but now of procedures improvement today remains recognize the new in no to first setbacks providing turn variants. and In updates of projection. materially back uncertain to recovery rate to course the full-year as procedures We’ll we a result, remains the environment I'll calls that variable. with a our the assess could guidance continued surgical COVID-XX from new assume further surges, in provide over half, relating this We’re in uncertainty environment the as guidance, continue impact our the pandemic gradual Tony. current call COVID the quarterly on or the with pandemic dynamic and

Antony Koblish

announce Day benefits tissue we’ll of reconstruction, Thank discussing to this natural be will sent OviTex from by key Nora. from X:XX have Time, later Eastern join We a patients. XX, leaders, how can X the superior session. opinion for presentations XX-minute up to that, a PM this happy feature Virtual formal open shown week. and soft KOL out followed Webinar you and you, will With be I'm hosting April outcomes call repair PM questions. be us. will Victor question-and-answer for invitation on hope please presentations the A These

Operator

[Operator Sandler. of Instructions] Our from Matthew the will line question first O'Brien from Piper come

Your line is open.

Matthew O'Brien

heartfelt thanks that for the pass so questions along passed taking had hear I’m to wanted to just and away. Good that. the Maarten on afternoon, news my sorry condolences

Antony Koblish

appreciate Matt. We you, Thank that.

Nora Brennan

Matt. Thanks

Matthew O'Brien

so Yes, year to is guidance we COVID heading about that XX% the kind thinking understanding of guidance. into turning today. some had impact. Nora, lower than providing of been appreciate It's there some you

start of here just kind where bit of side, even potentially on things upside, exit plastic some as could softness in expecting you and a where hernia provide the side we can this year? little we're So to the deconstruct

Nora Brennan

Sure.

for So, thanks question, the Matt.

was as before, up of think February. mentioned little held I December coming January, we saw bit he some out in, a through softness it speaking and when So Tony into

and in February So the back certainly half we're a of starting into to see rebound March.

guiding to head than just little lower a us. cautious why the around bit bit that's where more a we're little So, be guidance you

count reps we who rep hospitals, it's I and access us, the And we in Tony IDN. mentioned, really up. ended as to sure locations, making really reps, XX year that with think but we've the that it's for and making XX get got territories, have about sure the

conservative the we're nature I with the providing guidance that's that that, of So of think part today.

working expect about thing it plastic working when some product, continue. PRS, other that it's a our I clinical we're mean new still to team. growth a great we still the The QX think and new, we're we use we around it's with in doing launch, and surgeons to development But our is, had with still PRS

really the I conservative, it's So when for vaccines. us, be to think we're and quickly to sure going trying with just be hospitals to around a able really get not throwing of lot how into

Antony Koblish

said. as well, little I'll Nora what Yes, to bit that's Matt a color add just

transition the about thinking zones we're between us, quarters For right.

up backlog tough, stabilization So of stabilization QX. but to lasted The around back QX due zone, transition Thanksgiving, COVID. was we that January, say depressed then that on volatile and And I'd And bit national have of And looking tough is go back March a we month the a and until QX, then look more transition QX. at little pretty quarter back seemed I'd pretty we probably there strong. in to between at QX to February, for really down. and snapped XXXX. level certainly plan, and it that got volatility then by of zone was good a impact, right then really say But bit in

I good think we have a at plans. exceeding very shot

strong, that QX to We very we got cylinders. did super into QX up firing all much, ended we’re we great on trained, super, invested, where data, have everything we hired, into So from whereas of sort right. QX I choppily jumping we're transition we like

transition get indicated, QX think to that we we upside and stabilize really in forecasted transition of chop it said we more And QX, if stronger with as in represents QX. QX around notes. that So happens some zone as really in Nora more a and our I

the think lot again, starting that's business, new, there's there. got PRS upside some how move But And it's we upside new on not to we've and forward. our guy a think around just moving. the certainly, being administration block I the So the there's we're and overcome incumbent, and to hospital getting of

servicing QX, two about of that number accounts things is right. there's causes, on, problems the right, Problem that surgeon cautiously getting the and rep really so we together put chain, optimistic that other is real we're one COVID supply The a really access, But chain doing come they is haven't with admin. had problem dealing accounts new came yet. online backlog think started they supply we I go, really of the that And in cases. back. come And producing two and

as producing start will COVID clears those out. so And

there's doing of to upside when spot second quarter So had be yes, think just think are a to We what to have I up chose we going later clean now. half and here. our a we more out we're like baked realistic, and clean we into pick things

Matthew O'Brien

Okay, okay. makes It total sense.

being conservative back things of So just we the sounds to you're and as that hoping like free-up half? get kind

Antony Koblish

the ready QX. were things at out, team We need is of I bullish our pent-up straightened out, out Yes, they things way you, mean break stuff to QX, they I And loose. in If about were it. coming like can have tell we're commercial just straightened feeling of that's we QX. least to lot getting with in have a good

that's key. So the

Matthew O'Brien

then And I XX%, of to time. to studying more revenue? in two think just or your LIVE. mindful using quarter? everybody's converted have many XX% them to getting XX%, like just both $XX How use somewhere over on surgeons How last $XX and cash it TELA burn you together, you're questions. come Tony, look then you. But I'll of helpful. Is that Okay, XXX this those out being if to have be of XXX what many or you know doing Nora, million million year able product? close Thank to does ask

Antony Koblish

of plastic is LIVE on go Yes, that those really, a been TELA the there heavy get a the a surgery really been the for surgeons I'd good. mix us. say excellent XXX% just the through about on surgeons plastic little average side the on I program. for It's about, house, has estimate been of third increase TELA has is which We And more think side. LIVE to starting surgeon have lifeblood, been our that

have really and surgeons that like And of mind little surgeons intrigued, they used a there's are their new the those this brand to perhaps have Now that we're increased are get done group of they get surgeons, product, we the that also the usage, two but types partners right, never less drive fresh, way those, a other bit. have keep we They're see. to what targeting engaged. in bigger have is but

tick that that is XXX% I also any months signal. And the measure. So TELA do frankly, that to LIVE good we're the we after TELA accounts, by next surgeon on a the tied right, And up we key looking in put is the because all up XX QX accounts measure that very in at very execution LIVE metric it's as mechanism getting that those tick the think new closely new for of and buying. main few have

half ground. whatever's of on be it TELA the programs revenue to started LIVE because on, base think have I yet the could going So not of this yet contributing

way demand. of of territories, estimating below at operating pent-up is maybe tremendous that at you are if And we're a now looking our look XX% another right our there's about pre-COVID right. So this levels, accounts

of is that operating and to accounts adapt that all XX% that that have we to all So we're levels, close LIVE pre-COVID above pretty the are environment. to means doing that our and the stuff TELA

Matthew O'Brien

And cash Nora, the burn? on it. just Got

Nora Brennan

we in so through to a basis, think mean million based our QX Yes, about run million and rate I I guidance. million $X on revenue $XX burned we’ll maybe $XX burn Matt on

So is with of in we've good lot expenses to certainly XXXX done some us. with a that things, stick stuff going of and

Matthew O'Brien

Got you. it, thank

Nora Brennan

Thanks, Matt.

Operator

Thank you.

Anthony Jefferies. question next the from from line Petrone Our comes of

open. is line Your

Anthony Petrone

his much. of Thank condolences second you and wishes Maarten the everyone again, TELA. on And family and very to team I'll passing and best at

the our So condolences broader as and of from team well. from Jefferies again, myself,

Antony Koblish

Yes, that. appreciate

Anthony Petrone

there, higher XX% above the pre-pandemic a mix that of? it on way are you the Is little the maybe to accounts? that are XX:XX or splice a behind that of sort just Yes, more XX% out a absolutely. a is those are just Or were bit there statistics, at volume sense in just Tony, color bit levels. still XX% follow-up pre-Pandemic levels, maybe to gave just are

Antony Koblish

things couple a on there, right. going of there's so Yes,

is So our one a where stage factor when Salesforce hit, right. just of was construction COVID

built we to hit. So just six COVID had regions when out sales

non-functional have locked grouping, didn't in he Regional just COVID and hit, we because down it our was essentially Manager, So region we really hired we had built. the When And one reps. had literally any getting hiring. just

clearly Northeast, So COVID, he great really we remembers quarters, the territory and that pre-COVID was back that early expect to our stages And speed. was were come in a in deficit, next territories, New of full the beating strong York, everybody coming things a his at from that. in really one And up. territory building the territory strong that took has he's then now not of we

lot So that a in accounts rests grouping, there's in two of those the that regions.

right we well. built executing have having really out, all away fully six are now, So, But four far staffed regions are regions of come not we're and back. that fully from six

is said, that not right. everything regions, those Now four perfect in

started saw things where we And last take at year, and Account a are when some we had rotation Texas, where saw hits in producing end Midwest of January, got and impact, the saw So in shifting territory of of but we then the choppy territories California, we Managers. localized back Florida, terms a some our COVID lot states highest and January. of to best those in gritty

So that it's bit impacted of of the by these is is most But core unroll. swings two architecture that for the the country COVID. mole really a whack almost of a got it going as around that the little regions COVID been us,

as the now. going and excellent optimism team start we're right yet I regions within and to really QX, it of good firing commercial all common. see not really, seen see think six and to is The QX bullishness So our have we benefit to

Anthony Petrone

follow-ups last back I'll been me One And be FCON pushed mesh I have, hernia supposed lawsuits. That's to on And as believe commencement Bard year hop I MDL I very for backdrop. And two and know on real mesh. update guess would the and out. were in. the synthetic quick, suits of an a helpful that's

BRAVO So I that out the at have of any negative look going be being headline presumably ruling data helpful. there sort we're to you now competitors. update Strattice litigation as there, be would embedded, on And get believe some and more you would Phasix for

force conversation making making feel the feel year finally so going do you think better? how to and about talking your is physicians sales this to switch that And with

Antony Koblish

already Yes, right. it feels better,

Rhode so. So year. information the in around to litigation, of you’re summer the suits is bolus now, the next correct, were latest Right kick-off month last in of that starting Island may main lawsuits the our be probably or re-flated

deeply we've an getting having that And natural I we're the already we in in the love before patients starting a of long-term and to more something have the different would and those to are terms closer. I listen conversation where a past, public, litigation potential to think the surgeons are of XX% repair to did well that asking about and and than to very what now about aware percentage, becomes there plastic survey talked little acutely is about, good XX% think that even are swinging my have So patients are mesh right, questions. impact of think work complications

And better. has I never the so been think, environment

one two tuned lot very really mentioned right The not is a competitors handling right, not the price It's competitor, I there, designed, for product the is used robotically. a not expensive be just of our the You And for product. a than these think priced to Strattice on ventrals procedures. hiatal procedures, other little and simple it's as it wide robotics. and more is product. tuned bit Phasix is, inguinal, of array hand is a simple such

with in we're So ballpark them. the

as hopeful a be starts shift all outcome right, that would think become Strattice take would day, can online, what the Phasix slowly and So us. sort this I that OviTex duo to for we they were that would of come be likely and and Phasix and spectacular replaces that

what's And the So look is is mesh the And dialog IQVIA to happening, at trends. very I right the towards the of well research we're market you data if interesting look be at of think seems positioned. showing sort their control, of and permanent their expense Phasix you the wide we shift Bard wide, growth see and own as polypropylene at data, definitely products. array

repair a pretty that in I natural to So, think there's interest products. evidence good that of is lot me

Anthony Petrone

Thank helpful. Very much. so you

Operator

question Canaccord. Kyle the from line comes Our from Rose of next

begin. may You

Kyle Rose

gains on little the Great, for maybe seeing. our around I echo the questions. you're given it’s the end of just help the how bit condolences products PRS taking of thank that insight Wanted maybe the maybe to or backdrop account then out just productivity gains, those understand the obviously a or you help are us both much appreciate a well. OviTex more versus utilizing of pandemic, underlying as get products more. I alone. And just families but maybe both some just impressive frame little account of And

the about contributed of rate more QX, behind those what COVID think talked haven't idea You than So XX assuming the about accounts in should utilization really ’XX like? you're How that we looks is the us? run yet. entering

Antony Koblish

on the again the did I'm pandemic XXXX, another We on new to all contributed to reps, right revenue. going to have, we're exceptionally we in and the positioned. brought proof XX% have so Yes, things right reps We up stack XX that variable, those just about already well that in source add right. the

so going our stuff piece of the definitely downtime virtual, make can better can the attract we're better. training relationships, we've we proven the just then of they it's the that right that in all that is and exceptionally the education, and the them talent then process LIVE the invested mightily TELA to this in we've And to and that use and the last first function well. So, has has right hospital constant, right, worked pandemic, sale surgeon, pipe to

of variable it was being figure all I think that. right. on contributes XX% better another accounts that down of to definitely yet So think of to but that's stuff, in And top the I than comes on of going middle all that that that's pre-COVID,

answers little know Or I the that need more a bit help? you if So question. if don't

Nora Brennan

just well as just QX, PRS as overall, can of remaining in then I and about the jump the Hey Kyle, signing both new up about hernia, bit little a the for saw I XX%. we we were accounts We're of is have but and too Kyle, PRS hernia. overlap what think in XX%

accounts, we'll coming seeing board signing with accounts. expectation XXXX, get OviTex, So, within more on our products. as that see certainly both for is that And both HealthTrust we PRS OviTex the into and up we see

Antony Koblish

Thank for you you. that, thank Yes, covering Nora.

Kyle Rose

[indiscernible] just understand helpful. hernia building us And Maybe about could That's understand prioritized maybe Okay, that are you core obviously, are LPR from within help robotics that's great. cases the seeing encouraging. what a are very versus up business, we think the some very you maybe when trends type then tell that try be ASPs, the of so of perspective, just pricing, side at cases how some because backlog in the to kind the do the the type see meshes that's XXXX. different come And I going a of we're knew then mix LPR hernia smaller on of to impacting of of maybe business?

Antony Koblish

that's true. Yes, very

types I and Our right the our up than a in dollars ultimately and right hernia robotics. which particularly it more now units MIS are is procedures, in thing demonstrates sense all of of that hernia, good think the utility the across product

be that's the consistent. LPR, LPR contributing has and by higher mix fairly volume, more driven to the portfolio, been of more is baseline end the day, at may a the there So the but

even business is our robotic and and on is quarters right, ventrals fairly the that to XX% the which the mainstay ventral probably As business, roughly butter to business down. about MIS robotic simple I'm looking think XX% simple at the is in category, that data are compared hiatal here, And ventrals that and in the consistent. still more and be bread XX% nature. I lap is inguinal seems But, open, across which roughly

are going think to expect spoke we those I those a out. the as expect I there's think think those QX And bolus there'll earlier, the to really emergence. large that the steam. complex delayed, coming we I just up I that or transition is the which coming AB proxy to are then see QX to tick see because large pick-up to point those right, of get QX, those up backlogs it's at wherever to emerging QX I whether year sizes, a going that we're is walls, of the be cases forward, sizes these So, going be complex that. And for goes And continue as ventrals and

So well. those I to out going come see think as to start we're

Kyle Rose

then last got and I’ll sneak I've that in two Great, questions together. just

is the one obviously, more first The now you week. out just seen response XX in competitive data, have the month market. you've last I mean, overall patients XX that came than

kind you selling players? an maybe penetration are overall what then the talk other into from just from about base. So account counter seeing HealthTrust of And

just You've understand HealthTrust you. in higher talked where at you’re Thank help penetration? about maybe but accounts us

Antony Koblish

Yes, competition, so right.

response out. competitive So, came when kick on interesting right contract, competitive first data, Sure, but evolves is gain we clinical And we data them response data. the they was clinical as right. have no the out fairly primary success, They're not their simple.

solved those But That's products, to can get which see how there. robot and as in been data of But robotic data studies competitive we cetera. have we’re X, excellent have of on And retrospective two you BRAVO need got and due data going BRAVO course, interesting to counter details, complement clinical terms largely at will two the delayed we finish we've needs datasets we more punches, to well. that ideas collecting to years. just emerging jumpstart specific more, series, relative counter et off right, the So we've of to looks COVID. need full spectacular BRAVO some X, be to

are So, where we've and a point contracting to clinical data shifted now place. in

rig interestingly like pouch right. put bacteria sort seen the OviTex. you we're means biologic it and studies, that, it with if like it I compare enzymes tack ticky a lately Medtech what infect of trials and things to clinically, call of just using a enough, plastic mean, And I’ll in nothing tactics, hand And, must that. little bacteria a material, like rash piece of kind Well, a be to there's and bad. know eats of been hand right? test. we've that So little It’s seeing ticky-tack the usual combat like

good, just It's healthy, it's because is that it's clinical the set, answers clinical throwing So, they're very rest little we the data. product confident the awesome. BRAVO, feel our every of one to with of have not preclinical in with at us those super data studies but we consistent,

have even mental, inguinal to complex have conversions. some various about aggregated from we have We done XXX that patients surgeons XXX% from in everything studies, to robotics and

One under might own. going KOL just of he his XXX on the I event, to at be speaking have the belt, that's think his procedures guys

we're steady, So, methodical, to there's disciplined way going right. just drumbeat that's the do just it, and a

wouldn't hand So sure, normal with anything I the in flack I've surgeons. in to at LR will be Right of experienced now, us. my combat career, the in flack the field come the that the out hand consider to

Nora Brennan

a the I at our say think the Kyle, accounts to I revenue. I'll going generated around about third about accounts. a HealthTrust of other our was were so And of say, just third question QX just HealthTrust accounts was

So increase our numbers we XX% HealthTrust saw QX our about for accounts. in

I to continue the And coming that's to in more up. opportunity, certainly some into XXXX. penetrate there's going a we're HealthTrust accounts signed So getting think areas where opportunity of us those real it's for real

Antony Koblish

of down with Kyle, And XXs. a throw I’ll shut to at accounts couple a Yes, we ended XXXX. some think the year that’s being actually chunk Absolutely. we XX numbers, to had big And HealthTrust products. the odd I new at year in start about the the

So, the steady, HealthTrust they the we there. investments, we're methodical, as said we're shape we feel we reps, like made I have open like slow, in so ready, good up

Kyle Rose

for you taking thank Great, the questions.

Nora Brennan

Kyle. Thanks,

Operator

Thank you.

Our Securities. be Turkaly from JMP Dave from will line last the of question

begin. may You

David Turkaly

can condolences. of And comments that the cadence might a bit normal your the hernia on the it a or and is would procedures Tony, down of magnitude, you today? even look XQ of guy. what thank quarter a reiterate the of sort I those monthly some something maybe end how some in you underlying of you back something I last to we progression get know how that year. talked tick of of grow? being What about and like terms the XQ And imagine, stand Is re-scheduling? volumes, I color guidance XX% does up to XX% at for great the little obviously progress. But made the first sort about of where from at an

Antony Koblish

that could them we moving. get we get if the it just XX place said to and similar accounts get six think us could Yes, where new volatility sorry stabilized, my comments, get those I was right. Like I of think all starting QX, that's air on year, regions if in QX clean we could in gives that in I crank way last that's get back it QX, the if other to

load the We're we All right. But really about build mean, mean to for it of thing. it can I to the I trying around built hopeful, no start, that that Dave, us our been this sense talking just think I guidance those can QX start. spring like pick it I've spot for happen. I'm metrics forecasts made the a around QX

of very and planning time PRS, it's the I where in higher basically in coming even as of perspective, bullish, plus So technology it's as for that time, PRS from highly that's is, XX%, all it's revenue, months as percent, our it's as right, it's a like percent seen chain, I in though of and closer I've well. supply a on commercial products, perspective, that's attractive includes three to that compared a delta sort And was XX%. really grow sure, optimistic, think our newer set product, But, a and pricing never going it it's dependent strategy. XX and running that it's said, from team to and zone, a to XX,

as into an exact metrics, So, as the that new But have new product, that's well. pace. calibration on metrics, metrics, great great of that all product new we sort feeding don't territory rep account overlay newer a all of we're of onto set an that

Dave. just till here, next but not it's it meaningful think for part, to I and for So XXXX, we're the the to start talking about two couple going in products here story up hernia shift has the now, is most have of to story think been quarters I going the

David Turkaly

if I about, right plus over And And appreciate the of XX%. guys your XX%, to sort you have I talked sitting growth around you're guidance be company. that. potential you XXX% midpoint always look at XXXX,

look is mix right might the I you're thanks for versus you new I like at But get color, XXXX, of terms as number? how to but in color grows on off. you in to the feel it terms So we that hernia PRS understanding of imagine and PRS that up give guess, far any faster, obviously in don't there. want I But

Antony Koblish

assume the chain supply crack access Yes, let's can I right COVID. through we schematically, think

two tremendously, QX, Let's more at up PRS and the if assume PRS hernia definitely that's right. just in are right, and delayable procedures the delayable than that cleans procedures, lot the impacted. procedures, of going and It's of that PRS the procedures, volume those more you right help a stuff to there elective look hernia more is

now ups through cycles hit is COVID downs having get these and So, our right feeling been and harder. hernia that

So come and the already we're is able are back great I a the sign. about that volume fact going in the cases We well those. to Those into to big situated for procedures. complex, period, roaring our think simpler grow that we're talked

really the So then get I on be is which our started. to into governed more it's product access PRS, think ability to new going admin chain the supply to get

ups in product probably attractive I play think hospitals have environment. substantial and And of very stable fact that the around through get are into and the they a The moving. the they all want. volumes offering in surgeons, to going are power savings the this to cost procedure to of downs get more our COVID. PRS plastic bit what is that more And the system to that our ability

that'll crack growth, admin. as transitioning we’re not well, early the the little onto in of surprised the of the hernia, code COVID I think nicely then, to see saw would too. bit more bit we weight chain the out a and I we'll a PRS least be figure be So, COVID very supply to back start a if as at recovery, recovery, and much hardwired as of And on come the on out we to stages

David Turkaly

Thank you.

Operator

I'm questions over to the turn the to any call like I’d closing queue. further not And showing back for you. any in remarks. speakers the Thank

Antony Koblish

Victor. Thanks, right. All

to So, I thank in for your again time everyone afternoon Bio. this for interest your want and TELA

passed can the many honestly on Bio call, March Persenaire I'd here TELA you with many for TELA’s Medical like work Officer here where He Xth. TELA Co-Founder, put not and I of a the to concluding like well was was the as privilege years at and Bio us say money him that Before without he of company many an have in most years to Co-Founder Maarten who Chief for he the remembering Maarten spend I investor unexpectedly and had the and from at mouth was, exist Orthovita moment would his known away patients. and beginning, we're his healthcare architect from care patients, he's the cared cared decreased works company tirelessly deliver And had and that with system. he's day a total to share our for tremendously he, And tremendous nothing he the wanted really the discussing is, on to And the him. that. their he cost with patients pride which starting and lives, of the BRAVO the of he to with And system benefit whole system. clinical company, in time, going were. to he Maarten also Maarten. phone outcomes data, a surgeons, about office every I do about improve an long

The wonderful our family, and tremendously. forever wife, that. of miss to honor and us all work this He's go legacy. continue all Bio him, upon to to going him of to to company entire family, everyone big thoughts And his to Maarten for results we’ll So, and a and deliver grateful will his family, got deliver involved. motivated we're be kids, for TELA for is out to and at build

of So, thanks. the end That's my discussion.

Operator

concludes this you gentlemen, and Ladies Thank call. for conference today’s participating.

now disconnect. may You

TELA Bio (TELA) 25 Mar 212020 Q4 Earnings call transcript