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].

Core Viewpoint - Treace Medical Concepts, Inc. is set to present at the 44th Annual J.P. Morgan Healthcare Conference, highlighting its innovative approach in the surgical treatment of bunions and related midfoot deformities [1] Group 1: Company Overview - Treace Medical Concepts is a medical technology company focused on improving surgical management standards for bunions and midfoot deformities, which affect approximately 67 million Americans [4] - The company estimates that 1.1 million Americans are annual surgical candidates for bunion treatment [4] - Treace has developed the patented Lapiplasty 3D Bunion Correction System, which addresses the root cause of bunions by correcting deformities in all three planes and stabilizing the affected joint [4] Group 2: Product Offerings - In addition to the Lapiplasty system, Treace offers the Adductoplasty Midfoot Correction System for midfoot deformities and two minimally invasive osteotomy systems: the Nanoplasty 3D and the Percuplasty™ systems [4] - The company also provides the SpeedMTP MTP Fusion System and is expanding its SpeedPlate rapid compression implant platform for new applications [4] - Treace enhances surgical planning with its IntelliGuide™ technology, which offers patient-specific pre-operative planning and cut guide solutions [4] Group 3: Investor Relations - Treace encourages investors to regularly check its website for important updates and information [3] - A live webcast of the upcoming presentation will be available on the company's investor relations website [2]

Core Insights - Treace Medical Concepts has secured a new five-year $175 million senior secured loan arrangement to enhance its financial strength and flexibility [1][2] - The financing includes $60 million in term loans, $65 million in additional term loan availability, and a $50 million revolving credit facility [1][2] - The company aims to use the proceeds to prepay existing loans and strengthen its balance sheet while expanding its market presence [2][3] Financial Details - The new loan arrangement has a maturity date of five years, with an annual interest rate tied to the SOFR, subject to a minimum of 3% [2][4] - The term loan allows for 48 months of interest-only payments, extendable by an additional 12 months [2] - Following the refinancing, the company has approximately $165 million in total liquidity, including cash and unused credit facility availability [3] Company Overview - Treace Medical Concepts focuses on advancing surgical treatments for bunions and related midfoot deformities, addressing a significant market need with an estimated 67 million affected Americans [8] - The company has developed the patented Lapiplasty3D Bunion Correction System, which aims to correct bunion deformities in three dimensions [8] - Treace also offers various surgical systems and digital solutions to support surgeons and patients, enhancing its competitive position in the market [8]

Core Insights - Treace Medical Concepts reported a revenue of $50.2 million for Q3 2025, an 11% increase from $45.1 million in Q3 2024, but is revising its full-year 2025 revenue guidance down to $211 million to $213 million due to market challenges [4][7][10] Financial Performance - Revenue for Q3 2025 was $50.2 million, up 11% from $45.1 million in Q3 2024 [4] - Gross profit for Q3 2025 was $39.7 million, with a gross margin of 79.1%, compared to $36.1 million and 80.1% in Q3 2024 [4] - Total operating expenses increased to $55.4 million in Q3 2025, up 8% from $51.3 million in Q3 2024 [5] - The net loss for Q3 2025 was $(16.3) million, or $(0.26) per share, compared to $(15.4) million, or $(0.25) per share in Q3 2024 [5][8] - Adjusted EBITDA loss improved by 49% to $(2.6) million in Q3 2025 from $(5.1) million in Q3 2024 [5][8] Market Dynamics - The company is experiencing headwinds due to a shift in surgeon and patient preferences towards minimally invasive solutions, leading to a decline in Lapiplasty volumes [3][10] - Broader macroeconomic conditions and softer consumer sentiment have resulted in increased deferrals of elective bunion procedures [3][10] Product and Innovation - Treace expanded its bunion technology portfolio with the market release of the Nanoplasty and Percuplasty™ 3D MIS Osteotomy Systems and the SpeedMTP MTP Fusion System [8] - The company presented positive clinical data at the American Orthopaedic Foot & Ankle Society Annual Meeting, highlighting results from its clinical studies [8] Liquidity and Cash Flow - As of September 30, 2025, Treace had total liquidity of $80.6 million, consisting of $57.4 million in cash and cash equivalents and $23.2 million available under a revolving loan facility [6] - Cash usage decreased by 17% in Q3 2025 compared to the prior year [6] Revised Financial Outlook - The company has revised its full-year 2025 revenue guidance to $211 million to $213 million, reflecting a growth of only 1% to 2% compared to 2024, down from previous guidance of $224 million to $230 million [7][10] - Adjusted EBITDA loss is now expected to be in the range of $(6.5) million to $(7.5) million for the full year 2025, compared to previous guidance of breakeven [7]

Core Insights - Treace Medical Concepts, Inc. has announced the full market release of three new bunion technologies, aiming to enhance surgical treatment options for bunions and related midfoot deformities [1][3] - The company reported a revenue increase of 7% in Q2 2025 compared to the same period in 2024, indicating strong demand for its expanded portfolio of 3D bunion solutions [4][8] Financial Performance - Revenue for Q2 2025 was $47.4 million, up from $44.5 million in Q2 2024, reflecting a 7% growth [4] - Gross profit for Q2 2025 was $37.8 million, with a gross margin of 79.7%, slightly down from 80.2% in Q2 2024 [4] - Total operating expenses decreased by 4.1% to $54.7 million in Q2 2025 from $57.1 million in Q2 2024 [5] - The net loss for Q2 2025 was $(17.4) million, or $(0.28) per share, an improvement from $(21.2) million, or $(0.34) per share, in Q2 2024 [6] - Adjusted EBITDA loss improved by 58% to $(3.6) million in Q2 2025 compared to $(8.7) million in Q2 2024 [6][8] Liquidity and Outlook - As of June 30, 2025, the company had total liquidity of $90.7 million, consisting of $69.3 million in cash and marketable securities and $21.4 million available under a revolving loan facility [7] - The company reaffirmed its full-year 2025 revenue guidance of $224 million to $230 million, representing a growth of 7% to 10% compared to 2024 [8] Product Development and Market Position - The company has expanded its bunion technology portfolio with the full market release of the Nanoplasty and Percuplasty™ systems, as well as the SpeedMTP MTP Fusion System [8] - Treace's patent portfolio has grown to 117 granted patents and 163 pending applications, enhancing its competitive position in the market [8] Strategic Initiatives - The CEO expressed confidence that the new technologies, along with existing systems like Lapiplasty and Adductoplasty, will establish Treace as a leading provider of surgical bunion technology [3]

Core Insights - Treace Medical Concepts, Inc. announced positive four-year interim results from its ALIGN3D™ study, demonstrating the effectiveness of the Lapiplasty Procedure for bunion treatment [1][2][3] Company Overview - Treace Medical Concepts is focused on advancing surgical management standards for bunions and related midfoot deformities, with an estimated 1.1 million annual surgical candidates in the U.S. [5][6] - The company has developed the patented Lapiplasty 3D Bunion Correction System, which addresses the root cause of bunions by correcting deformities in three planes [6] Clinical Study Details - The ALIGN3D™ study is a multicenter, prospective clinical study evaluating the Lapiplasty Procedure's outcomes, with 173 patients enrolled across seven clinical sites [3] - Key findings from the study include: - Early return to protected weight-bearing at an average of 7.7 days and return to athletic shoes at 6.5 weeks [5] - Low radiographic recurrence rates of 0.8% for HVA>20° and 8.4% for HVA>15° at 48 months [5] - Significant improvements in pain and patient-reported outcomes, with an 81% improvement in pain and 89% improvement in walking/standing [5] Market Positioning - The publication of the ALIGN3D™ study results is expected to enhance the market differentiation of the Lapiplasty Procedure among surgeons and patients [2] - The company aims to expand its clinical evidence base and continue improving the standard of care for bunion surgery [2]