Tenon Medical, Inc.
Sector: Surgical & Medical Instruments & ApparatusIndustry: Medical - DevicesCountry: USExchange: Nasdaq
DilutionScan read 55 of Tenon Medical, Inc.'s SEC filings and found 17 warrant series, 3 convertibles, 2 ATM programs, 1 equity line, 3 shelf registrations, 7 S-1 registrations and 5 completed offerings on file for TNON. The latest dilution event on file is ATM sales on Oct 16, 2026. Analysis updated Oct 24, 2026.
Signal8 Summary
TNON
Going-concern warning and delisting risk
Snapshot
Tenon Medical is a tiny medical device company in severe financial distress. While revenue is growing, jumping 20.4% to $3.9 million in FY 2025, the business burns cash rapidly. It lost $12.6 million on the bottom line and generated $11 million in negative free cash flow. With only $3.8 million in cash and a cash runway of just 1.9 months, the company is running out of money.
What's Happening Right Now
- : Tenon Medical is seeking stockholder approval for a reverse stock split to regain Nasdaq compliance and avoid delisting by August 2026.
- : Nasdaq notified Tenon that it failed to meet the minimum stockholders' equity requirement, giving it until July 2026 to submit a compliance plan.
- : The company disclosed substantial doubt about its ability to continue as a going concern, citing insufficient cash to fund operations for the next 12 months.
- : Q1 2026 revenue rose 90% year-over-year to $1.4 million, but the company posted a net loss of $3.5 million.
