Earnings call transcript Q4 2022

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Operator

Good afternoon, ladies and gentlemen, and welcome to the TELA Bio Fourth Quarter and Full Year 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation.

As a reminder, this conference call is being recorded.

I would now like to turn the conference over to Louisa Smith from the Gilmartin Group. ahead. go Please,

Louisa Smith

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

are today's Operating Executive Chief Koblish, President and Chief Financial Joining Officer; call and Roberto and me Tony on Cuca, Officer Chief Officer.

you you on including, XX-Q, projections Before XX-K without these we events. limitation, to may factors results the Company's conference the make materially and identify call, to quarterly and with statements annual this the future that Form in We begin, report I'd from the review on encourage that events like statements. cause past Company's SEC, described actual Form or the forward-looking reports specific during may to future forward-looking and which differ remind regarding filings Company those

including potential, sales the and performance. opportunities, inflationary These strategies, of various factors and development the stability may pipeline conditions, ongoing or resources include, capital product marketing without the environment, concerns, regulatory banking impact regarding pressures, pandemic, recessionary statements the response product and and limitation, operating macroeconomic COVID-XX to

I'll over call With turn to Tony. now that, the

Tony Koblish

GPO overall. year, was contract today and slower-than-expected pleased XX% will prior representing XXXX revenue Good over and up staffing to growth strong for Louisa. $XX.X million, detail joining in the XXXX, hospital greater Roberto which Bio challenges despite in of full TELA XX% This year $XX.X XXXX sales shortly. report Thank you, describe full million, of uptake, revenue and our of continued continued the from deliver and and XXXX thanks that earnings for quarter afternoon, to everyone, fourth growth I'm us year call. fourth quarter

to these with are that portfolio ongoing quarter OviTex quarter. Bio's continues market even share after headwinds, encouraged gain Yet TELA we

size, individual and line the ability and we describing five rep clinical how the I'll factor and time result force is GPO how advance portfolio, to achievement: factors our top contributing beginning revenue product revenue impacted growth. drive continued a each capture access Our XXXX they focus sales to our data. share some of growth of on spend productivity, since

First, sales force size.

the Given date, we and the the goal of pleased the impact the of of time end of our a of our had ago, products. reps XX XX on call 'XX, we've have COVID-XX continue board. years of several the 'XX announced to to of greatest I'm reaching by a their close reps, middle year. sought of earnings XX including XX and number with under XXXX the We through reps, XX at sales total productivity expanding year that ago report reps selling the just sales we as by and to today, entered

in in for minutes. I'll 'XX a our hiring talk about goals more few

access is important Another members hospital to Group of driving revenues factor GPOs, Organizations. or contract Purchasing

and our October three-year contract extends national addition into HealthTrust effective the XX and contract, places we agreement third the In Premier dual became preexisting GPO. entry announced TELA through January X, category. to 'XX, an a in biosynthetic This agreement recently source of with which on

have to new to important which contract otherwise It's hospitals. is that strictly reach. understand us to access that pleased GPO of number able we very administered, as are customers are significant would We new been provides we this a to also incremental getting with this access it means not

and the products there. grow from physicians our access. representatives way through GPO This usage our in OviTex inclusion go clears to sales analysis value their contracts to utilize without to committee Our to our for first introduce hospital's of surgeons the allows a for use having portfolio

the offerings. extent is our A product third factor of

configurations. These of abdominal a each robotic expand preservation continue and solutions. smooth and announced launch recently, products LPR Most procedures, in for ellipse-shaped the the the and two the restoration We we larger XX% broader and tissue, with are 'XX, within we to device designed pieces laparoscopic of expect forward. to quarter repair complementary soft these placement will products of fourth for of for incisional robotically larger two cavity our laparoscopically viscera. OviTex ventral adjacent side portfolio hernia even XX% With in going OviTex cases of performed new our reported allow usage

to Type stimulate year, At have launch Type to wounds and collagen collagen and bleeding. moderately activity designed minor of an the Collagen shown the matrix Type is NIVIS resemble X beginning closely announced contribute This exudating new of native Pack. tissue manage heavily a Fibrillar we control to and and and development. to cellular been of collagen the patient the X of X this Type absorbent to bovine X

X contraction tissue. of control collagen in amount molded it deposition host wound packed contact scar is healing. wound to during NIVIS Type and Specifically, TELA's particulate allowing facilitate be into wounds helps the to with provided form, product and

generating to which future. interest and to already excited vehicle the very new in this physician a growth high-quality product, of launch is We're be promises

solutions for We synthetic restoration also tissue reinforced for developing soft internal mesh program, have as preservation. well tissue a soft as R&D resorbable robust additional technologies

will collaboration internal our patients and R&D with yield great efforts to expect team sales development continue complementary of a provide portfolio our business surgeons. outcomes products and We to that for

variety We and in of applications. highlighted patient study. reconstruction of life with studies and of positive we demonstrate clinical us to factor, very from in wall the and other also hernia studies allow outcomes five because data highlight data our of BRAVO October key the In quality us two-year announced is benefits published and abdominal recurrence OviTex effectiveness for that reported of publication hernia fourth results these OviTex. focus 'XX a The recently trials a 'XX, favorable

enrolling capture We data used are when BRAVO on study, will robotic our which effectiveness OviTex II of the currently procedures. in

build general to that anticipate OviTex use further believe opportunity, positioned on to on from continues the uniquely systems data BRAVO surgical II As using surgery this grow, and to of in is robot capitalize foundation. we we the

potentially months representatives support expanded from for a newest PlaybookXX recent breakeven we program. our of PRS high-quality which conducting retrospective that within joining performance label results In Additionally, could six analysis, see used to finally, productivity. talent to TELA And indications. sales is factor study fifth a training growth reach are our products, a be our our OviTex most and This continued and have years combination of assessment arrival. recent in we rep

PRS part proficient training, OviTex selling OviTex in As this reps of variety and of to become surgeon both a our products subspecialists.

that number accounts happens, the purchased expand to of continue experienced productivity both we gains. and synergistic categories, We when that

plus accounts or X. X Specifically, the is are more and purchased equals rather only PRS productive of the both accounts other X or that X OviTex than sum purchased categories. That other X that one OviTex than product

TELA. continually reps leverage and this in dynamic accounts, Our continued this we to expect to work positive more more contribute growth for to and

to reps. this sales to our of advantage XX we additional A leading growth passing on reps are XX have between over we of actively Before we a announced we in reps have the 'XX XX force hiring the year-end and on the for XX forward. of more take force about course budgeted To Roberto financials from contracts a licenses, of 'XX. were to pursuing total place, these year, our on details and XX hunting additional with plans going expectations of the optimal GPO and 'XX, to three the sales contract, I it year targets. XX Today, for we additional to quality color provide expand company to wanted ago, and GPO one

more Hiring will already. our territories given in targeted be geographically year presence XX this

by end We confident can are continue the grow to this to candidates we see of U.S., across range sales year. the rep strong so we the

availability Additionally, up more see XX opportunistic and as growth of lines many their we achieving our with applicants and sure the needs if aggressive new goals. we we be territories, to to have rep as date would exceeding the target strong about have

on will in over We progress quarterly the year. course our this the update calls on you of front

the Roberto. With call to that, I'll over turn

Roberto Cuca

Thanks, Tony.

for revenue to As XX% grew Tony XX%. XXXX which XX% OviTex million, of and increased $XX.X quarter PRS year-over-year mentioned grew revenue fourth the OviTex during year-over-year earlier,

constraints the has which a transient to but believe still we headwind corrected. procedure we in below also pre-pandemic challenge, volumes form contracting see been of a now staffing with continue experienced We levels,

Specifically, contract X the new the effectiveness GPO October impacts. on had X of

our the which that discount, been revenue. would First, decreased just new any the buying received now own member of its hospital GPO products on already had

of had expected to We we a However, a up new volume than to for delay use volume What make many the implement approval. the hospitals led the up the increased new hospitals in open ASP to fourth without products need committee found the was more is in TELA to the effect that administratively which second contracts, analysis value slow would uptake. prior were quarter. pressure that for

the sold margin the goods full beginning received was was with to inventory incremental the fourth volume well and amounts This not The XX% within quarter for the the quarter seems XXXX. administrative quarter. actually for gross within whether the challenge of within quarter's quarter, by of expiration resolving was or for driven sold XX% the of Gross margin manifesting cost in year. for as the as be it expected product reserved

holidays inventory in in quarter our we less Because than the of and receive the shutdown, seasonal manufacturers' fourth any typically quarter. other

and XXXX show improvement we XXXX XXXX. to was of step commission in fourth costs in consulting fourth year million expansion compared period as and million down mainly count, As due first the expense This was employee-related additional commercial expect $XX.X should benefit in quarter costs to roles. same customer-facing the expenses a and quarter of result from in in Sales higher result, quarter, higher in increased the head to gross the although a our margin full particularly marketing the salary, our XXXX. to of $X.X organization, the travel and of increase due

expense in Loss period costs million salary headcount in the $X.X $X.X was fourth the research was fourth year. as million prior study due primarily XXXX in-process in period to and XXXX million to was $X.X to in benefit development higher in as fourth in to quarter million same of quarter loss an the of operations quarter million last fourth compared compared The in $X.X the due in compared the increase period. $XX XXXX. million in Net and of increase consulting million costs. from same to expense same increased well an and in to R&D the the the year of 'XX is administrative quarter $X.X and in period General million compared $X.X XXXX charge, XXXX. was $X.X

$XX.X to compared full respectively. million marketing for prior increase million 'XX 'XX in the to was was $XX.X for and G&A $XX net excuse were year to and million R&D full expense was gross ended of million $XX.X compared with equivalents. XXXX million Sales for in $XX.X $XX.X million 'XX million operations XX%. XXXX, Loss revenue $XX.X year. XXXX compared of were profit loss in XXXX in million year. million $XX $X.X me. million, Turning increase to and an XX% million, compared cash $XX the $XX.X in cash an to -- million from and the was year, full We XXXX. $XX.X and XXXX

outlook to XX% of growth Turning to to XXXX, of revenues be to year -- the of XX% the we anticipate $XX over $XX full in million the to XXXX. representing range million, for XX%

now remarks. I'll Tony? for turn closing Tony call back the to

Tony Koblish

Roberto. Thanks,

see As heard, momentum is in XXXX. we of no signs it you've just our slowing strong, and

In fact, for GPO our quickly, guidance, second 'XX, in important agreement 'XX. it another and are based In to reasons. a expecting national good on followed key by we early win GPO accelerate established we

the to expect course those agreements to the over 'XX. impact of of We start see

and to data BRAVO in have one-year open even in the even surgeons in 'XX, our We we hand. we them. We to detail And two-year benefits. also many more look educating able forward eyes additional so with products were solid longer-term regarding these about now efficacy data, impressive reps offer OviTex to field to have

estimated market in the We are an penetrating days $X.X of very opportunity. early billion

sales impressive proven of for to solution as value relatively surgical of best believe revenue performance, market. successive a total the us our repair since and combination addressable Even years -- going That having the is small we posted safety of percentage we on growth comprise public, market. exciting growth any extremely the still have

at colleagues such to great off tremendously for and get my making 'XX successful XXXX like a helping to TELA I'd all to thank year start. a

open With that, ask your I'll for the now Lisa questions. line to

Operator

Takkinen Thank you. of first Frank [Operator Instructions] coming Lake Our question Street. from is

Frank Takkinen

heard to Congrats with thus on all in far comment to relates the progress. XXXX. manifesting the guide, -- it Wanted incremental on of I start volume as the one

quarter more could into giving developments cadence model is give more maybe with out? then a just start two, throughout us these a to the little And XXXX robustly? the you us first color start for So maybe how hit a feel quarterly as shaking

Roberto Cuca

specific the provide October volume-wise on is that became we quarter. first Sure. a to were did we contract that from X the what effective we're the guidance Frank. uptick Yes, first the so not beginning Thanks, new expecting strength although hit seeing reasonable quarter, is in suggesting on

are So, we positively encouraged by that.

we cadence, XXXX expect of being the strongest. the a with, similar as the usual, far cadence as see type across quarters As quarter to fourth over

As had year some remain as you'll that past believe was been though, was surgical this past note, we the headwinds affecting not quarter we of over to year. due strong the the of the cadence fourth expect but we of as comparatively the basic years to year rest course in to volumes, same the the quite

Tony Koblish

element saw and been nice of has throughout started, far is add downs COVID staffing we're I'll the little a in and think thus year. the time, we something, last ups more hernia has situation that One OR QX Yes. by Frank. and strong. hernia seeing been Since that the impacted I

a that all like of can our environment signal based products can we and five in hopefully, get development growing against a So the great factors. and that's on should clean they our execution

Frank Takkinen

it. Got

then Can about you of Looks throughout that like Okay. you second That's remainder front-end talk year of about thinking one color. far. one good my hiring year? on hiring the maybe force -- this how sales thus the the the hiring. loaded you're the cadence And

Roberto Cuca

clear, XX. we last currently XX, just so and at to we're be year So with finished now

year. quite progress as have clear last hiring. full front-loaded we not will hiring year that It's So, the good was seen the in it be as

XX at of put so of year. of XXXX in began the the then of So having if last more to talked we and mature XXX, beginning order of territories course our eight over the about than it, additional size under force just still half reps, XX sales We were about and always then with reps year open. this we've think something you a on an XX

reps. become place and in it's -- further So, be a to going need to incremental we targeted more bit

more the last So, was timing a year. it could bit out than stretched be

Tony Koblish

the Yes. color. on Again, I'll coming a bit talent of little pool bullish us. that's add really I'm to

they're is really that really, attracting Our team good, the to spliced team right now. old helping talent just we're in regional reps. is game even more manager exceptional place in and new and on up us just excellent putting even The our think I hiring

align make each position the which great a take these to time talent sure fill then location with that the access, of broad. possible that, in we're said, we think our with and best as I So, one GPO Roberto territories and is now

Frank Takkinen

Okay. the it within sounds Great. contracted? extra characteristics on compares last one, some dual other then Maybe there's about maybe little being GPO the And how compliant. as expect It talk you've this highly and GPO. just like color you uptake source GPOs third unique a to here third

Tony Koblish

we've HealthTrust never Well, in by saying, let environment, me implemented right? start clean started. GPO as a a COVID started

GPO. maybe And third this little think, a than premier to think So I we're learning. I be the it's different going uptake,

does are GPO smaller so but certainly tough, or abide want a hospitals, by their they will roughly in we disciplined, that. third would say, compliance. name, not so mention XXX But this So GPO, I very us to

shows there, getting product the that offers. contract So on I value think, proposition our

of across dual-source which of almost eliminated, good character the many contract, leader, compete as in unbelievable. the can getting hernias, them, we and they I available means a to market are which all many, example. great. including of our GPO contracts, last and we is competitors is It's this category, The GPO better. is think better which We're the win And become a biosynthetic whole means us portfolio are which

XX-XX and we we're an ratio have shows of compete air, good rarefied to means So sort company, that that for. in

least is for business. to compete we that that's again, tied at can of XX% pricing we time, believe for over volume. tiered And theoretically, what So

now, understand contracts think we're now process I And use rule these six-month way product see hope in for So and implementation it we'll delivering the length to probably to that we to big getting forward. our guess rolling. feeling we're the period, said, means Right to contract still special, get usually incumbent best structures That of is that takes. great three- think time that I dominant that's thumb my best reserved I somewhere be, are And the start set our we're and should players. is of conservative, the that that value. going

Operator

O'Brien from The is Piper. Matthew coming next of question

Your line is open.

Phillip Dantoin

particular less-than-expected at off that has This on is for Phil just GPO any point? Premier? specific for volumes were to on there Congrats Matt. And I to specifically QX the to relates volume guess Premier, touch ASP the in miss discount on quarter. and rolled this it the as reasons performance from that

Roberto Cuca

two so parts. Well,

GPO units So of already contract, new it's when go the the the been slightly selling into when have to previously of a lower those often so we a case would we're and sign that gone through may already, in hospitals the x VAT GPO. a that price a we through have enter committee discount. up We now some that will price because at

effect takes the So first day the of that as contract. discount of

the compared of bit day have a to So ASP little before, headwind. you

big each purchasing it a contract opens without can into through their the access assuming has contract lot of because back, going physicians a hospital is, of administratively systems. to of up their new the terms the bonus the entered purchasing Now that hospitals products

the our than contract products new we under fourth found So to what into quarter, longer over course expected. hospital is originally we hospital a the systems that their by that took the of process bit get

something to and going quarter, be of through seeing transient volume first through the to that coming itself quarter, forward. the expected sort contracts worked resolved to was we've but now applying now such seems we're the and hit that it going our we to challenge That learning in earlier end of future by the have that we're

Phillip Dantoin

wanted here, on mostly And touch helpful. hernia-related backlog. just to that's that shifting No, gears

Assuming backlog work any, you in in it, past. start order much, to through recapture, can of haven't the And recapture backlog? to that speak it operating to you XXX,XXX characterized about above large is? we call that I how seen that start XXX%, that procedures if can some when you've think see to hospitals maybe and of

Tony Koblish

I'll the this. There start Maybe methodology for is clean that just data analyzing Yes. on not with number.

an So, that and did research we pre-pandemic, curve analysis of -- post-pandemic up just market sort took third-party came with and analysis an area under the purchase estimate.

we not like did saw 'XX were up. at all As it unfold, we look catching

In were I'll on a and drill into the for seemed levels, behind we local regional fact, whole year pre-pandemic it like example.

general We service collaborate of us just have with that look, be grow continues He backlog means sort England-based and XX% the said, system. for to New And of about hernia regional transitioning a surgeon to levels up we have health decent-sized this to forward. way, who's that a maybe to it there. he up. catch explained practice the which running or particularly We'd to pre-pandemic management roll we're XXX% running to pre-pandemic, to

just And to time hernia that's going and OR and happen challenges shortages, susceptible to not that. is block frankly, given reduction nursing in

apply not national probably more So I looking at view, and come system. to through across you're you that's XXX,XXX lesson a this think if that the a going bolus

long slowly do and way over think to par going maybe back up out par OR challenges over and time then from the is term. XX% themselves as sort your you're block labor of get time the I sort to what crawl beyond slowly

just situation is a So, rolling to what going have where we forward. roll I it's think

a worse We've situation. this is proven we execute pandemic. And in much can so, in at a looking earlier the that we're it the permanent grow environment is, and way

like next years, job to how we're way our treating the for out forward And situation. the is the going to grow that's so, to roll this several is and figure

Phillip Dantoin

pushing your that helpful. follow-up In maybe be are upside? And little And I quick rate just a one very might of this you XX% guidance, to assuming XX% little that. year? that's above guess higher a So, bit or anything bit

Roberto Cuca

Yes.

similar space guidance our XXXX. what the XXXX availability in it that of -- was operating assuming we're to is So, assumption assumes in room

Operator

Next question Canaccord. be Instructions] Rose [Operator from Kyle will of coming

open. is line Your

Kyle Rose

it, wins wondering ones did you we if could pen there, some And had where up base access we great of mean a I XXXX to, course us just a have you where the months. of many help was paper Maybe you've just access I putting level. do you your high your understand entering big frame to of how have access? previously? job XX sales structure of and from force where GPO team the but in does I over just from you are obviously, last, stand? I getting XXXX? versus Just now relative the hospitals call start is framing where to mean, guess account kind the and were actually

Tony Koblish

Yes.

So I'm this. going say to

and we all, as impact think the this of both yet I to third GPO contract Premier new at It's seen happen have starting we not right? speak.

pandemic one look you be an piece say, of half we have So the solid it's implement experience the of when to were at three-year data and So there, contract. HealthTrust, actual real-life that started I'd can and started, for HealthTrust term if we the of the right? unable

came from normalized stronger of it when our strong came in from with Even that, QX five environment make you in So clean we into factors stronger we getting more and are headway revenue QX XX% and factors operating right? our HealthTrust, the really of have that revenue systems. can our circumstances internal that in HealthTrust. with shows XX% these

why reason three contract. believe the this So case six to Premier to can't new in the that there's next months with and no be

on it four us Not what's this really contract, but renewed HealthTrust big call, years. well, years as to like that with first great for Now years. it's going time the three announce deal for and the first a I'm has four

say, would with So good. the so we've performance pretty pleased the our handled and executed product, way of the very and that's way ourselves, they're I we've

three in contracts scale we place. national So solid have

I all gone have force plans that Roberto expansion I and over and that the here sales robust expansion footprint we've can a about. handle think that five-factor talked today, that's the

doing three two it the should should much years, friction be over durable I think the system less allow that that us next enough we've way growth to in than this and till have big been the and is it consistent footprint up now. it to

So the were IDN a that XX% not in you'll recall, GPO. in at roll contracted up QX, balance to did of HealthTrust that

So a higher a et champion, value friction process, is committees, that cetera. surgeon much finding analysis

it, will do to addition are contracts. do we in GPO We and continue equipped a alongside as to sidecar it the

and plays actually to here, we and execution going continue go growth help contracting drive four that's as to we have So forward.

Kyle Rose

That's confirm renewal both congrats helpful, uptake a there. side. overall the little uptake PRS? on on just the versus when very breast you're there just bit or and is signing these Can the Great. of you're in the you and Maybe HealthTrust GPO side? a more agreements, difference hernia seeing recon maybe include just OviTex the do And in if that they

Tony Koblish

is both both. include products. that the indications includes meshes and category Yes, products reinforcement they and The focused it's on basically, category of both for

So, on where product. The surgeons to without hospital I the depends hospital think product adopt It is, it isn't the depends, right? right? demanding going our just

versa the a than particular it on the we side, start with and right? on relationships side, plastic vice may better if hernia hospital PRS have So

It's the product. not like purchase these hospitals automatically

The just than first put much the after can to chain these always he's contract. to and supply on bureaucratic, place, in remains develop then time. once start interest. an it's remain easier surge surgeon IDN GPO this on without We'll take a implementation which It's in it is process will okay. fairly contract, also you then the contracts get step says the realizes And but

side on plastic the side. So, where around whether is the relationship reconstructive and surgeon hernia it's the it or on depends first,

Kyle Rose

of back last plan. as and being far new five-point in know new you've then for question than street, are your the three on and And I'll Okay. opportunities. me then those view, hop From as the my products others GPO outlined I bigger

improvement previously throughput commented already You at staffing fundamental a least backdrop, in and the hospital from no assumes guidance that perspective.

we So Where of year? that the impact how and I new a products drivers think the headcount? is GPO be should new from this do metric biggest we seeing guess, about perspective

Roberto Cuca

So, they we do because them five that are as to multiplicative. refer we believe factors always

you sales to you limit have place. wouldn't want when the GPOs didn't case that build get we XXX% So, any a example in force

to parallel. So, evolve we've trying in been both them

think that's available the GPOs of going time I to So, and are the the the sales that have the size force of impact. number biggest same it's at

coming And Tony's new effects now impact to have in from we have this full effect that year, for in year point, as the the year GPOs getting both additional new either have as of the two is year that will that tell a lot last ones the and great reps to be ground the or sales. hired new mostly ones far because annualized are we we'll to sales full going a new that of

those So ones advancing. together two on we the that hardest believe work that are will pushed that we the the ones strongest and

Operator

Turkaly Our next question of David is coming from JMP.

open. is line Your

David Turkaly

operating of you the on just but you of Maybe any on did 'XX? you give provide imagine given made versus even net color can the it's and Could Roberto, I directionally going to hiring be there? there it's comments in product one sort for side the have. if is some any color larger, the loss, you or the loss new launches us may what you slightly

Roberto Cuca

guess I do what walk provided I I guidance. OpEx. each through of of the bottom we So, components line is, haven't

programs. higher be slightly as dig further G&A bit as and our and the So development should own a possibly. we XXXX, will R&D XXXX R&D some same little very we internal in clinical in into grow advance studies

and sales that's the going is step And then, the up one most. marketing to

that experienced be this second year, annualization exactly that we growth did the the and will out. that hiring depending we year two there times the be effects. One last will when is of on So, the

it So, I think we're is thinking not providing guidance on your operating think loss, correct. but directionally, about I

David Turkaly

two think they you mentioned hernia Tony, and the quarter, said devices. that's larger 'XX I but PRS then, And or new Great. second-gen untapped still we products, for last not OviTex three launches? the LPR, Are

Tony Koblish

Yes.

third We getting product a is close. have that extremely

that. posted on So, we'll you keep

three will sure. year we deliver this for new So, products substantial

David Turkaly

I'll sneak maybe then makes Who in. the one And bovine NIVIS last the Great. one or collagen?

Tony Koblish

We're partnered on with that New CMI product. Jersey in

Operator

This Tony you. the turn for I like closing would Koblish call over concludes today's session. remarks. Thank Q&A to to

Tony Koblish

to forward on Thank everybody, reporting Yes. your next we you, appreciate interest in. look really and you See support. time. We next, for tuning and QX

great Have you. a Thank night.

Operator

conference call. Thank joining. you have all Everyone, This and may evening concludes today's you all for disconnect. pleasant a

TELA Bio (TELA) 21 Mar 232022 Q4 Earnings call transcript