Event-Driven Stocks

Tenon Medical, Inc.

TNONNasdaq

Healthcare · Surgical & Medical Instruments & Apparatus · DE · SEC filings ↗ · Compare ⊕

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Signs● 2 good● 4 warning● 1 severedetails ↓

Financials

SEC XBRL · annual
 FY25FY24FY23FY22FY21
Revenue$3.9M$3.3M$2.9M$691,000$160,000
Operating income−$12.8M−$13.8M−$15.7M−$18.7M−$6.5M
Net income−$12.6M−$13.7M−$15.6M−$18.9M−$7.0M
Total assets$10.8M$9.8M$6.3M$11.1M$9.3M
Total liabilities$5.7M$3.9M$5.6M$4.8M$16.2M
Equity$5.0M$6.0M$778,000$6.3M−$20.6M
EPS (diluted)$-1.70$-11.26$-8.59$-2.36$-7.81
Shares out.5.6M3.7M11.3M11.2M989,954

Reported figures from the company's SEC filings (XBRL). Blank where a line item isn't cleanly tagged — never estimated.

Key ratios

from filings · FY2025
Operating margin
−324.3%
Net margin
−318.4%
Return on equity
−249.1%
Return on assets
−116.7%
Return on capital (ROCE)
−169.5%
Liabilities / assets
53.2%
Debt / equity
1.13×
Book value / share
$0.90
Revenue growth (YoY)
20.4%
Net income growth (YoY)
—

Computed from the company's own SEC figures — no market price, so these are facts, not a valuation. Book value per share is reported equity ÷ shares; it is not the stock price.

Financial health

forensic scores · FY2025
Altman Z″ (distress)
-29.53distress
Accruals / assets
−16.8%clean
Beneish M-Score
-1.69elevated
Piotroski F-Score
4/9mixed

Altman Z″is a textbook bankruptcy-distress score from book values only (>2.6 safe · 1.1–2.6 grey · <1.1 distress). Accruals = (net income − operating cash flow) ÷ assets; persistently high accruals are an earnings-quality red flag. Beneish M-Scoreis an eight-ratio screen comparing this year with last (M > −1.78 = elevated manipulation-risk screen, not proof). Piotroski F-Scorecounts how many of nine fundamental-health checks pass (shown as passed / applicable; we use operating margin and total liabilities as documented proxies where the exact input isn't XBRL-tagged). Computed from SEC filings — descriptive factors, not advice or a forecast.

Quality score

EDS Score
55
/ 100
Profitability 0Growth 100Catalyst 33Earnings quality 67Financial strength 75

Our own multi-factor score from free SEC data — profitability, growth, financial strength, earnings quality, and event/ownership catalysts. No market price and no licensed model: each axis is the share of source-backed checks it passes. Descriptive factors, not advice or a forecast.

Signs

● 1 severe● 4 warning● 2 good
  • Altman Z″ in the distress zone
  • Operating losses (negative operating margin)
  • Reported a net loss
  • Negative operating cash flow
  • Beneish M-Score elevated — earnings-manipulation screen flag
  • Revenue is growing year-over-year
  • Clean earnings (low accruals)

Derived from the company's own SEC figures (fundamentals, forensic scores, filing discipline) — descriptive factors, not advice or a forecast.

Short interest

FINRA · bi-monthly
SettlementShares shortDays to coverΔ vs prior
May 15, 2026176,6411.8-8.6%
Apr 30, 2026193,1924.3-17.6%
Apr 15, 2026234,5771.9-4.7%
Mar 31, 2026246,1871.0+28.9%
Mar 13, 2026191,0441.6-29.3%

Shares sold short as reported to FINRA. Days-to-cover = short shares ÷ average daily volume — higher means more potential squeeze pressure.

Material events

SEC Form 8-K · most recent

Events the company reported on Form 8-K, labelled by the SEC item code it filed under — its own classification, not our interpretation.

Recent SEC filings

All filings ↗

Event-driven situations (2)

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