Market Opportunity - The US bunion market represents a significant opportunity, with approximately 65 million Americans affected by bunions [9] - Of those affected, 44 million seek medical treatment annually [9] - The current US market for bunion surgical procedures is estimated at $23 billion, with a potential to exceed $5 billion [9] - Approximately 450,000 surgical procedures are performed annually, while an estimated 650,000 additional patients are in need of surgical treatment [9] Treace Medical Concepts' Position - Treace Medical Concepts, Inc is focused on improving outcomes for bunion patients, with a 5-year revenue CAGR of 40% [7] - The company's FY 2024 revenue reached $2094 million, representing a 12% increase, with a gross margin of 80% [7] - Approximately one-third of US foot surgeons are currently using Lapiplasty [7] Technology and Innovation - Treace is the pioneer and leader in 3D bunion surgery, protected by 117 US patents and pending patents [7] - Lapiplasty has demonstrated early weight bearing at an average of 77 days in a walking boot [19] - Lapiplasty has demonstrated 81% pain reduction with 89% improvement in MOxFQ walking/standing scores at 48 months [19] - Lapiplasty has demonstrated low recurrence rates of 08% (HVA >20°) & 84% (HVA >15°) at 48 months [19]