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Treace Medical Concepts, Inc.

Treace Medical Concepts, Inc.

NASDAQ•TMCI
CEO: Mr. John T. Treace
Sector: Healthcare
Industry: Medical - Devices
Listing Date: 2021-04-23
Treace Medical Concepts, Inc., a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty 3D bunion correction system that combines instruments, implants, and surgical methods designed to surgically correct three planes of the bunion deformity. It also provides Lapiplasty mini-incision system designed to allow the Lapiplasty procedure to be performed through a 3.5cm incision. In addition, the company offers Adductoplasty system designed for reproducible realignment, stabilization, and fusion of the midfoot. Treace Medical Concepts, Inc. was founded in 2013 and is headquartered in Ponte Vedra, Florida.
Contact Information
100 Palmetto Park Place, Ponte Vedra, FL, 32081, United States
904-373-5940
www.treace.com
Market Cap
$174.54M
P/E (TTM)
-3.5
33
Dividend Yield
--
52W High
$10.79
52W Low
$2.56
52W Range
3%
Rank65Top 87.9%
2.0
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$50.21M+11.37%
4-Quarter Trend

EPS

-$0.26+4.00%
4-Quarter Trend

FCF

-$11.90M-19.07%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Q3 Revenue Growth Strong Q3 Revenue reached $50.2M, showing 11.4% growth driven by increased kit sales volume compared to prior year.
Nine-Month Net Loss Narrows Nine-month Net Loss improved by $5.6M to $49.6M, reflecting better operating results compared to the 2024 period.
Operating Expenses Controlled Total operating expenses for nine months decreased $0.7M, down 0.4% to $167.6M, despite increased G&A costs.
Initial Distributor Sales Recorded Q3 2025 revenue included $6.0M from initial stocking distributor orders, a new revenue stream absent in 2024.

Risk Factors

Competition Pressures Lapiplasty Increased competition and evolving surgeon preferences negatively impact flagship Lapiplasty System sales, potentially reducing revenue growth.
Macroeconomic Demand Uncertainty Inflation, recession fears, and insurance deductibles may negatively impact consumer demand for elective surgery products.
Pending Litigation Exposure Pending federal securities class action and patent infringement suits against Stryker and ZB create material uncertainty.
Gross Margin Pressure Q3 COGS increased 17.4% due to higher direct costs and inventory provisions, partially offsetting gross profit gains.

Outlook

Liquidity Forecast Sufficient Current cash ($7.7M) and securities ($49.7M) expected to fund operations for at least twelve months from issuance date.
Debt Extension Intention Intends to extend the interest-only period on MidCap term loan to 60 months based on meeting revenue levels.
Continued Innovation Investment Focus remains on R&D for next-generation innovations, including Nanoplasty and Percuplasty system expansion plans.
Near-Term Loss Expected Expect to operate at a loss in the near term, financed by existing cash, marketable securities, and expected revenues.

Peer Comparison

Revenue (TTM)

The Oncology Institute, Inc.TOI
$461.04M
+21.7%
OrthoPediatrics Corp.KIDS
$227.41M
+19.9%
Treace Medical Concepts, Inc.TMCI
$218.88M
+7.9%

Gross Margin (Latest Quarter)

Semler Scientific, Inc.SMLR
91.5%
+0.1pp
Delcath Systems, Inc.DCTH
86.3%
+5.8pp
Treace Medical Concepts, Inc.TMCI
79.1%
-1.1pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
SRDX$614.51M-34.8-15.6%19.2%
NPCE$539.36M-26.2-116.7%66.4%
DSGN$538.28M-8.5-27.1%0.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
-9.9%
Growth Under Pressure
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
25%
Cash Flow Needs Attention

Research & Insights

Next earnings:Feb 26, 2026
|
EPS:-$0.15
|
Revenue:-
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $50.21M+11.4%
    |
    EPS: $-0.26+4.0%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $47.39M+6.6%
    |
    EPS: $-0.28-17.6%
    Beat

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $52.57M+2.9%
    |
    EPS: $-0.25-16.7%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 27, 2025|
    Revenue: $209.36M+11.9%
    |
    EPS: $-0.90-11.1%
    Miss

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 5, 2024|
    Revenue: $45.09M+10.6%
    |
    EPS: $-0.25-10.7%
    Beat

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 6, 2024|
    Revenue: $44.46M+6.0%
    |
    EPS: $-0.34+70.0%
    Miss

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $51.11M+21.1%
    |
    EPS: $-0.30+36.4%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 27, 2024|
    Revenue: $187.12M+31.9%
    |
    EPS: $-0.81-5.2%
    Miss