Treace Medical Concepts, Inc. ( (TMCI) ) has released its Q3 earnings. Here is a breakdown of the information Treace Medical Concepts, Inc. presented to its investors.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Treace Medical Concepts, Inc. is a medical technology company that specializes in the surgical treatment of bunions and related midfoot deformities, primarily operating in the healthcare sector with its innovative Lapiplasty® and Adductoplasty® Procedures. Treace Medical Concepts reported its financial results for the third quarter of 2024, showcasing a significant increase in revenue and a narrowed net loss compared to the same period last year. The company announced its entry into the high-volume osteotomy market with the launch of the Nanoplasty™ 3D Minimally Invasive Bunion Correction™ Procedure and is set to release another minimally invasive technology platform later in the year. The company’s revenue for the third quarter of 2024 was $45.1 million, marking an 11% increase from the previous year, driven by the adoption of new technologies and an increase in the number of active surgeons. Despite a net loss of $15.4 million, Treace improved its adjusted EBITDA loss by 45%, demonstrating better operational efficiency. The company’s operating expenses rose slightly due to investments in product innovation and corporate initiatives. Looking ahead, Treace has revised its full-year 2024 revenue guidance, expecting growth between 9% and 13%, supported by its strategic investments and expanding technology offerings.
