Treace Announces Preliminary, Unaudited Fourth Quarter and Full-Year 2025 Revenue

Core Viewpoint - Treace Medical Concepts, Inc. reported preliminary, unaudited revenue results for Q4 and full-year 2025, indicating a mixed performance with a decrease in quarterly revenue but an increase in annual revenue, while emphasizing the company's focus on expanding its market share in bunion procedures and improving profitability [1][9]. Financial Performance - Preliminary revenue for Q4 2025 is estimated to be between $62.1 million and $62.5 million, representing an approximate 9% decrease at the midpoint compared to Q4 2024 [9]. - For the full year 2025, preliminary revenue is projected to be between $212.3 million and $212.7 million, reflecting an approximate 2% increase at the midpoint compared to the previous year, aligning with prior revenue guidance of $211 million to $213 million [9]. Market Position and Strategy - The company experienced mid-single-digit case volume growth in Q4 2025, driven by surgeon adoption of its expanded suite of 3D bunion technologies [3]. - Treace added approximately 202 new active surgeons in 2025, ending the year with around 3,337 active surgeons, marking a 6% increase year-over-year and representing about 33% of the estimated 10,000 U.S. surgeons performing bunion surgery [9]. Future Outlook - While Treace is not providing full-year 2026 guidance at this time, it anticipates continued positive procedure volume growth, despite facing headwinds from broader economic conditions and a shift in product mix [4]. - The company plans to offer financial guidance for 2026 during its Q4 2025 earnings conference call scheduled for February 26, 2026 [5]. Company Overview - Treace Medical Concepts is focused on advancing surgical management standards for bunions and related midfoot deformities, addressing a significant market with approximately 67 million affected Americans, of which 1.1 million are annual surgical candidates [12]. - The company has developed the Lapiplasty3D Bunion Correction System, which aims to correct bunion deformities in all three planes and secure the unstable joint, thereby addressing the root cause of bunions [12].