A company still losing money with growing sales, with high risk.
Going well
Sales up 127% in the latest quarter vs a year ago
Sales up 20% last year
Sales growth speeding up
Watch out for
About 4 months of cash left at its current burn
Losing money, losses are large next to sales
7 offering filings in 6 months (may sell new shares)
Money moves
No insider buying or selling in the last 30 days
Facts from SEC filings, not a recommendation.
What the price means
Price as of Oct 26
$2.13-3.6% that day
Company value
$1M
Share price times all shares
Price vs sales
0.27x
No profit over the last year, so this compares value with sales instead
Cash vs value
118%
A big cushion: cash is a large part of what the company is worth
From TNON's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.
The business over time
Last 12 quarters, from SEC filings
Sales, Jun '26
$1.3M+127% vs a year earlier
Sep '23Tap a barJun '26
Last 12 months: $5.3M, up 80% from the 12 months before.
What the price assumes
Your guesses, our math
Move the sliders to your own view of TNON. Starting points are the company's recent numbers (it isn't profitable yet, so the margin starts at a 10% guess).
Sales in 5 years$20M
Profit in 5 years$2M
Price these guesses point to$44.35+1982% vs $2.13 todayAbout +84% a year, before dividends
What today's price needs: with a 10% margin and a 15x P/E, sales could shrink about 29% a year for 5 years and still match today's price.
Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.
The checklist Warren Buffett-style investors use. Annual numbers for 2025.
1/4Weak
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-318.4%
MissProfitable every yearSteady profits, not one good year.0 of 5 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$11.0M
PassGross margin 40%+Pricing power: sells for well above what it costs to make.59.8%
Revenue
$3.9M
+20.4% vs prior year
Current ratio
2.11x
short-term assets / bills due
Free cash flow
-$11.0M
-279.4% of revenue
From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+, debt under half of equity, share count not growing. A checklist is a starting point for research, not a verdict.
Latest quarter
Quarter ended Jun 30, 2026
Reported Aug 13
Revenue
$1.3M
+126.8% YoY
EPS
-$12.35
vs -$12.76
Op. margin
-262.2%
+244.4 pts
Gross margin
63.6%
+20.2 pts
Free cash flow
-$2.9M
Share count
+51.2%
vs a year ago
Insider rating
Last 90 days
No open-market insider buys or sells in the last 90 days.
Weekly insider trend
No trades to chart yet.
Filing buzz
Last 7 days vs normal
25/ 100
This week
1
Normal week
3.3
vs normal
0.3x
SEC filings of any kind. 50 means a normal week.
Safety check
From SEC filings
Share count growthYearly rate, last 3 years
-69.0%
Cash runwayAt last year's cash burn
2 months
Debt to equityLatest balance sheet: debt compared with what owners have
Owes more than it owns
Shares outstandingLatest reported
667K
Why high risk
Losing money, losses are large next to sales
About 2 months of cash left at its current burn
Owes more than it owns (negative equity)
Bills due within a year exceed short-term assets
13 offering filings in 6 months (may sell new shares)
Exchange listing notice (a delisting warning or a move to another exchange)
Earnings reports
Last 6
Next reportAround Nov 14 (est.)Estimated from the same quarter last year
Results filedAug 13
Results filedMay 12
Results filedMar 19
Results filedFeb 6
Results filedMar 14, 2024
Flags and big holders
Offerings 6 months, flags 12 months, holders 90 days