Treace(US:TMCI) Globenewswire·2025-02-27 21:05Core Insights - Treace Medical Concepts, Inc. reported a 10% increase in revenue for Q4 2024, reaching $68.7 million, compared to $62.2 million in Q4 2023, driven by product mix shift and increased adoption of newer technologies [4][10] - The company achieved a gross profit of $55.5 million in Q4 2024, with a gross margin of 80.7%, slightly down from 81.6% in Q4 2023 [5][10] - For the full year 2024, revenue was $209.4 million, a 12% increase from $187.1 million in 2023, with a gross profit of $168.3 million [8][10] - The net loss for Q4 2024 was reduced to $0.5 million, or $0.01 per share, compared to a net loss of $6.3 million, or $0.10 per share, in Q4 2023 [7][10] - The company expects full-year 2025 revenue to be between $224 million and $230 million, indicating growth of 7% to 10% compared to 2024 [13] Financial Performance - Q4 2024 operating expenses decreased to $55.7 million from $57.5 million in Q4 2023, reflecting improved leverage in Sales & Marketing [6][10] - Adjusted EBITDA for Q4 2024 was $11.1 million, a significant increase of 322% from $2.6 million in Q4 2023 [7][10] - Full-year 2024 net loss was $55.7 million, or $0.90 per share, compared to a net loss of $49.5 million, or $0.81 per share, in 2023 [9][10] Strategic Developments - The company announced its entry into the high-volume osteotomy market with the introduction of Nanoplasty™ and Percuplasty™ Minimally Invasive 3D Bunion Systems [10] - Treace added 280 new active surgeons in 2024, bringing the total to 3,135, a 10% increase year-over-year [10] - The global patent portfolio expanded to 97 granted patents and 88 pending applications, enhancing the company's competitive position [10] Cash Position - As of December 31, 2024, cash, cash equivalents, and marketable securities totaled $75.7 million, with access to an additional $26 million through an existing revolver, bringing the total to approximately $102 million [12]