Tenon Medical, Inc.(TNON)Stock Analysis
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Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $3.9M in revenue.
Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.
TNON Stock Analysis & AI Quality Score
AI stock analysis and institutional research for Tenon Medical, Inc. (TNON), a Healthcare sector company. TNON is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $3.9m in revenue. Based on the latest XBRL financial filings (Q1 2026), Tenon Medical, Inc. reports quarterly revenue of $1.4M, net income of $-3.5M, free cash flow of $-3.0M. Top institutional holders of TNON by reported 13-F value include GEODE CAPITAL MANAGEMENT,, VANGUARD CAPITAL MANAGEMENT, Focus Partners Wealth, based on the most recent SEC filings. TNON trades on the Nasdaq exchange and files with the SEC under CIK 1560293. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate TNON daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Tenon Medical, Inc. directly from SEC EDGAR.
Revenue
Q1 2026
$1.4M
Net Income
Q1 2026
$-3.5M
Free Cash Flow
Q1 2026
$-3.0M
Revenue & Net Income
Earnings Per Share
Key Financials Over Time
Export Financial Table · Pro+Revenue
+20.4% YoYNet Income
+8.2% YoYOperating Income
+7.1% YoYEPS (Diluted)
+84.9% YoYTotal Assets
+9.3% YoYOp. Cash Flow
-8.8% YoY| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|
| Revenue | $3.9M +20.4% | $3.3M +45.6% | $2.3M +225.6% | $691.0K +331.9% | $160.0K |
| Net Income | $-12.6M +8.2% | $-13.7M +12.2% | $-15.6M +17.6% | $-18.9M -168.4% | $-7.0M |
| Operating Income | $-12.8M +7.1% | $-13.8M +12.5% | $-15.7M +16.0% | $-18.7M -189.8% | $-6.5M |
| EPS (Diluted) | $-1.70 +84.9% | $-11.26 +83.6% | $-68.64 -190.6% | $-23.62 -202.4% | $-7.81 |
| Total Assets | $10.8M +9.3% | $9.8M +55.1% | $6.3M -42.8% | $11.1M +19.6% | $9.3M |
| Operating Cash Flow | $-10.7M -8.8% | $-9.9M +18.9% | $-12.2M -1.3% | $-12.0M -180.2% | $-4.3M |
AI Insight: TNON Financial Trends
Tenon Medical remains pre-revenue with persistent $3M quarterly operating losses and equity eroded 80% to $2M since Q2 2024.
• Revenue flat at $1M across all 8 quarters; operating income consistently negative at $3–4M per quarter.
• Operating cash flow negative throughout period, ranging $2–4M per quarter with no improvement trend.
• Equity deteriorated from $1M (Q2 2024) to $2M (Q1 2026), reflecting cumulative losses without debt financing.
⚠ Equity runway critically low at $2M; continued $3M quarterly cash burn leaves <1 quarter of liquidity.
⚠ No revenue acceleration or cost containment evident over 8-quarter span; operational model remains unproven.
AI Insight: TNON Ratio Trends
Tenon Medical is deeply unprofitable with operating margin at -193.5% in Q4 2025, signaling severe operational distress.
• Operating margin collapsed to -193.5% and net profit margin to -191.2% in Q4 2025, indicating massive losses relative to revenue.
• ROE deteriorated from -154.3% in Q1 2025 to -165.0% in Q2 2025, reflecting consistent shareholder value destruction.
• ROA worsened from -97.7% in Q3 2024 to -99.7% in Q2 2025, showing near-total asset inefficiency.
⚠ Most profitability metrics are missing for recent quarters; earnings visibility is severely limited and raises data completeness concerns.
⚠ No leverage or debt ratios reported; balance sheet structure and financial flexibility cannot be assessed from available data.
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Available Research
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Top Institutional Holders of TNON
GEODE CAPITAL MANAGEMENT, LLC
$121.5K167,486 shVANGUARD CAPITAL MANAGEMENT LLC
$52.1K71,715 shFocus Partners Wealth
$39.6K61,887 shVANGUARD FIDUCIARY TRUST CO
$32.4K44,628 shSBI Securities Co., Ltd.
$28.8K39,722 shNORTHERN TRUST CORP
$13.1K18,048 shSpectrum Asset Management, Inc. (NB/CA)
$7.7K10,650 shClear Street Group Inc.
$7.6K952,894 shCITIGROUP INC
$7.2K9,857 shSpectrum Asset Management, Inc. (NB/CA)
$5.4K679,420 sh
| Fund | Value | Shares |
|---|---|---|
| GEODE CAPITAL MANAGEMENT, LLC | $121.5K | 167,486 |
| VANGUARD CAPITAL MANAGEMENT LLC | $52.1K | 71,715 |
| Focus Partners Wealth | $39.6K | 61,887 |
| VANGUARD FIDUCIARY TRUST CO | $32.4K | 44,628 |
| SBI Securities Co., Ltd. | $28.8K | 39,722 |
| NORTHERN TRUST CORP | $13.1K | 18,048 |
| Spectrum Asset Management, Inc. (NB/CA) | $7.7K | 10,650 |
| Clear Street Group Inc. | $7.6K | 952,894 |
| CITIGROUP INC | $7.2K | 9,857 |
| Spectrum Asset Management, Inc. (NB/CA) | $5.4K | 679,420 |
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Popular Research
Is TNON a good stock to buy?
13F Pro's AI-powered analysis of Tenon Medical, Inc. (TNON) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on Nasdaq). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for TNON are available on the TNON stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.
Which hedge funds own TNON?
Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling TNON. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Tenon Medical, Inc.'s investment landscape.