Tenon Medical, Inc.
TNONHealthcareNASDAQMedical Devices · Last scanned Oct 24, 2026
Scan Results
Daily timeframePart of the healthcare sector, Tenon Medical, Inc. (TNON) is listed under Medical Devices. The $5.9M market capitalization puts TNON squarely in micro-cap range for its industry. The company offers Catamaran SI-Joint Fusion System, an invasive inferior-posterior approach to the sacroiliac joint (SI Joint) using a titanium implant for treatment of the most common types of SI Joint disorders that cause lower back pain.
Market Cap
$5.9M
Beta
1.36
P/E (TTM)
—
P/E (Fwd)
-0.18
EPS (TTM)
$-44.86
EPS (Fwd)
$-12.02
ROE
-551.2%
ROA
-72.0%
Cash
$1.7M
Total Debt
$5.7M
Free CF
-$6.1M
52W Change
-94.9%
Annual Financials
Cash vs Debt
Where TNON stands vs its 150-day and 200-day moving averages
As of the October 20, 2026 close, TNON finished 83.33% below its 150-day moving average ($14.70) and 86.78% below its 200-day moving average ($18.53). This snapshot is end-of-day data shown with a five-trading-day delay on the free plan; Premium members see readings from the latest close.
Is TNON overbought or oversold?
At the October 20, 2026 close, TNON's RSI(14) was 45.6, in neutral territory (between 30 and 70). The MACD histogram was negative, so short-term momentum leaned bearish at that close. These readings are historical, refresh daily after market close, and are not investment advice.
On the balance sheet, TNON has $1.7M in cash with $5.7M in obligations. The ability to service this debt comfortably depends on continued operational cash generation. Free cash flow is running at -$6.1M, which bears watching. Negative free cash flow can be acceptable during heavy investment periods but needs to improve over time. ROE of -551.2% points to negative capital efficiency, indicating how much profit the company produces per dollar of shareholder equity. Revenue has grown from $691K (2022) to $3.9M (2025), reflecting a 471% increase over the period.
The company is burning cash at the operating level, which is not unusual for growth-phase companies but adds risk if it persists. No single metric tells the full story. Reviewing TNON's risk profile alongside its fundamentals and technical indicators provides a more complete picture.