Our initial clinical results indicate that The Catamaran System implant is promoting fusion across the joint as evidenced by CT scans which is the gold standard widely accepted by the clinical community. We are preparing for a national launch of The Catamaran System through a national distributor to address the greatly underserved market opportunity that exists.

Components of Results of Operations

Cost of Goods Sold, Gross Profit, and Gross Margin

Gain (Loss) on Investments, Interest Expense and Other Income (Expense), Net

Net loss attributable to Tenon Medical, Inc. $ (5,488 ) $ (1,665 ) $ (7,841 ) $ (1,865 )

Interest and other income (expense), net:

Net loss attributable to Tenon Medical, Inc. (4,065 )% (7,568 )% (3,806 )%

Comparison of the Three and Six Months Ended June 30, 2022 and 2021 (in thousands, except percentages)

Revenue, Cost of Goods Sold, Gross Profit, and Gross Margin

Cost of Goods Sold, Gross Profit, and Gross Margin.

Gain (Loss) on Investments, Interest Expense and Other Income (Expense), Net

Cash Flows (in thousands, except percentages)

Cash used in investing activities for the six months ended June 30, 2022 consisted primarily of the net purchase of short-term investments of approximately $3.7 million as we invested a portion of our IPO proceeds, in addition to purchases of property and equipment of $0.2 million.

Critical Accounting Policies, Significant Judgments, and Use of Estimates

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