On solid footing for sustained growth Investor Day September 3, 2025 Forward-Looking Statements This presentation includes forward- looking statements. All statements other than statements of historical facts contained in this presentation, including statements regarding our future results of operations and financial position, strategy and plans, industry environment, potential growth opportunities, and our expectations for future operations, are forward-looking statements. The words "believe," "may," "will ...

Financial Data and Key Metrics Changes - Fourth quarter revenue was $68.7 million, representing a 10.4% growth over the fourth quarter of 2023, at the top-end of previously announced preliminary results [22][27] - Full-year 2024 revenue was $209.4 million, a 12% increase over 2023, also at the top-end of prior guidance [28] - Gross margin for the fourth quarter was 80.7%, down from 81.6% in the fourth quarter of 2023, while full-year gross margin was 80.4%, compared to 81.2% in 2023 [28][29] - Fourth quarter net loss was $0.5 million or $0.01 per share, compared to a net loss of $6.3 million or $0.10 per share in the fourth quarter of 2023 [30] - Adjusted EBITDA for the fourth quarter was $11.1 million, an improvement of 322% compared to the fourth quarter of 2023 [30] Business Line Data and Key Metrics Changes - The growth was driven by a product mix shift, increased adoption of newer technologies such as Adductoplasty and SpeedPlate, and an increase in active surgeon users [22][28] - The company aims to capture a larger share of the remaining 75% of bunion procedures performed by its surgeon customers [20] Market Data and Key Metrics Changes - The company has a growing base of over 3,100 surgeon customers, representing a ready audience for its expanding suite of technologies [10] - The company estimates that around 10% to 15% of all metatarsal osteotomies today are being performed with minimally invasive approaches, indicating a significant growth opportunity [14] Company Strategy and Development Direction - The company focuses on expanding its portfolio of innovative solutions to address all four classes of bunions, aiming to maximize market share [20][26] - The strategy includes making procedures less invasive, which is expected to appeal to a larger portion of the 4.4 million Americans seeking medical attention for bunions each year [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the setup for 2025, expecting revenue guidance of $224 million to $230 million, reflecting a 7% to 10% increase over 2024 [24][32] - The company anticipates break-even adjusted EBITDA for full-year 2025 and a 50% decrease in cash burn compared to 2024 [32] Other Important Information - The company has introduced new technologies such as Mini-Adductoplasty and SpeedMTP, which are expected to ramp availability and revenue impact in the back half of 2025 [21][19] - The company is monitoring reimbursement trends following significant increases in material reimbursement for CPT code 28297, associated with Lapiplasty procedures [23] Q&A Session Summary Question: Thoughts on revenue pacing through 2025 - Management acknowledged that Q1 will be a tougher comp but expects higher growth rates in Q2, Q3, and Q4 [38] Question: Impact of new products on ASPs and unit volumes - Management indicated that the focus will be on procedure volume rather than significant shifts in blended ASP [44] Question: Profitability and leverage components - Management highlighted natural leverage from a more experienced sales force and reduced aggressive hiring [52][54] Question: Early feedback on new products and competitive dynamics - Early feedback on new products has been positive, with some surgeons returning to Lapiplasty after trying competitors [58] Question: Thoughts on the Zimmer-Paragon deal - Management stated they are focused on growing their product line and will observe the market effects of the acquisition [66] Question: Clinical outcomes of new osteotomy solutions - Management emphasized the importance of three-plane correction in their osteotomy approach, which they believe will lead to better long-term outcomes [72] Question: Q1 revenue expectations - Management confirmed that Q1 is expected to show low-single digit growth rates year-over-year [76] Question: Targeting new surgeons with broader product offerings - Management aims to add approximately 200 new surgeons to their customer base in 2025 [84] Question: Future opportunities in foot and ankle market - Management indicated a robust pipeline of products and a focus on penetrating the bunion and midfoot markets [90][92] Question: Utilization of new osteotomy offerings - Initial adopters of the new osteotomy systems are high utilizers of minimally invasive techniques [98] Question: Update on SpeedPlate attach rates - SpeedPlate has grown to over 50% of the overall fixation mix, with expectations for continued growth [108]