Treace Medical Concepts (NasdaqGS:TMCI) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Company ParticipantsJohn Treace - CEO, Founder, and Chairman of the BoardMark Hair - CFORichard Newitter - Managing DirectorRick Wise - Managing DirectorTripp Taylor - VP of Investor RelationsConference Call ParticipantsBen Haynor - Senior Research AnalystDanielle Antalffy - Senior AnalystRyan Zimmerman - Managing Director and Medical Technology AnalystNone - AnalystOperatorGood day. Thank you for standing by. Welcom ...

Treace Medical Concepts (NasdaqGS:TMCI) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Company ParticipantsJohn Treace - CEO, Founder, and Chairman of the BoardMark Hair - CFORichard Newitter - Managing DirectorRick Wise - Managing DirectorTripp Taylor - VP of Investor RelationsConference Call ParticipantsBen Haynor - Senior Research AnalystDanielle Antalffy - Senior AnalystRyan Zimmerman - Managing Director and Medical Technology AnalystNone - AnalystOperatorGood day. Thank you for standing by. Welcom ...

Treace Medical Concepts (NasdaqGS:TMCI) Q4 2025 Earnings call February 27, 2026 08:00 AM ET Speaker5Good day. Thank you for standing by. Welcome to the Treace Medical Concepts fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. Please be advised that today's conference is being recorded. After the speaker's presentation, there will be a question-and-answer session. To ask a question, please press star one one on your telephone and wait for yo ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number 001-40355 TREACE MEDICAL CONCEPTS, INC. (Exact name of Registrant as specified in its Charter) Securities regis ...

Financial Results - Treace Medical Concepts, Inc. reported preliminary unaudited financial results for the quarter and year ended December 31, 2025[5]. Upcoming Events - The company plans to present at the J.P. Morgan Healthcare Conference on January 14, 2026, at 7:30 am Pacific Time[7]. - The investor presentation will be available on the company's investor relations website, providing insights for analysts and investors[7].

Core Insights - Treace Medical Concepts, Inc. reported financial results for Q4 and full-year 2025, highlighting a shift in product sales and expectations for future growth [1][3][4]. Financial Performance - Q4 2025 revenue was $62.5 million, a 9% decrease from $68.7 million in Q4 2024, primarily due to a shift towards lower-priced bunion kits [4]. - Gross profit for Q4 2025 was $50.4 million, with a gross margin of 80.6%, slightly down from 80.7% in Q4 2024 [4]. - Total operating expenses in Q4 2025 were $56.3 million, up 1% from $55.7 million in Q4 2024 [5]. - The net loss for Q4 2025 was $(9.4) million, or $(0.15) per share, compared to a net loss of $(0.5) million, or $(0.01) per share, in Q4 2024 [5]. - Adjusted EBITDA for Q4 2025 was $6.2 million, down from $11.1 million in Q4 2024 [5]. Full-Year Results - Full-year 2025 revenue was $212.7 million, a 2% increase from $209.4 million in 2024 [6]. - Gross profit for the full year was $169.8 million, with a gross margin of 79.8%, down from 80.4% in 2024 [6]. - Total operating expenses for 2025 were $223.9 million, slightly down from $224.0 million in 2024 [6]. - The full-year net loss was $(59.0) million, or $(0.93) per share, compared to $(55.7) million, or $(0.90) per share, in 2024 [7]. - Adjusted EBITDA loss for 2025 was $(3.9) million, significantly improved from $(11.0) million in 2024 [7]. Operational Highlights - The company increased its active surgeon base by 202, ending 2025 with 3,337 active surgeons, a 6% increase year-over-year [8]. - The company broadened its global patent portfolio to 135 granted patents and 199 pending applications [8]. Cash Flow and Liquidity - Cash, cash equivalents, and marketable securities totaled $48.4 million as of December 31, 2025 [9]. - The company reduced cash usage by 46% to $27.3 million in 2025 compared to $50.5 million in 2024 [8][9]. 2026 Financial Outlook - The company projects full-year 2026 revenue guidance of $200 million to $212 million, indicating a decline of 6% to 0% compared to 2025 [10]. - Expected Adjusted EBITDA loss for 2026 is projected to be between $(4.0) million and $(6.0) million [10]. - Anticipated reduction in cash usage for 2026 is approximately 50% compared to 2025 [10].

Core Viewpoint - Treace Medical Concepts, Inc. is set to showcase new product innovations and present interim data from its clinical studies at the ACFAS Annual Scientific Conference, emphasizing advancements in surgical treatments for bunions and related midfoot deformities [1][2]. Product Innovations - The company will highlight next-generation Lapiplasty instrumentation and fixation technology platforms, including SpeedTMT, Lapiplasty Lightning System, Nanoplasty, Percuplasty, SpeedMTP, and IntelliGuide PSI, aimed at enhancing surgical outcomes and market penetration [2][4]. - SpeedTMT is a new Lapiplasty fixation option utilizing hybrid technology, expected to be fully commercialized in the second half of 2026 [4]. - The Lapiplasty Lightning System is designed for greater accuracy and control in 3D correction, with full commercialization anticipated in late 2026 [4]. - Nanoplasty and Percuplasty are minimally invasive systems designed for efficient access to 3D osteotomies, with unique features to enhance surgical precision and recovery [4]. Clinical Study Presentations - The ALIGN3D clinical study will present interim data showing early return to weight bearing at an average of 8.4 days and low recurrence rates of 8.4% at 48 months [5][6]. - The MTA3D clinical study will present interim analysis demonstrating significant improvements in radiographic measures and patient-reported outcomes through 24 months [12]. - A retrospective study on the SpeedMTP system will show early return to weight bearing at an average of 3.7 days, with full radiographic union achieved in all patients at 6 months [8]. Company Overview - Treace Medical Concepts aims to advance the standard of care for bunion and midfoot deformities, addressing a significant market with approximately 67 million affected Americans, of which 1.1 million are surgical candidates annually [14]. - The company has developed the Lapiplasty 3D Bunion Correction System, which corrects bunion deformities in all three planes and secures the unstable joint, facilitating patient recovery [14].

Core Viewpoint - Treace Medical Concepts, Inc. is set to release its financial results for Q4 and the full year of 2025 on February 27, 2026, with a conference call scheduled for 8:00 am ET to discuss these results [1]. Company Overview - Treace Medical Concepts is a medical technology company focused on improving surgical treatments for bunions and related midfoot deformities, which affect approximately 67 million Americans, with an estimated 1.1 million being surgical candidates annually [4]. - The company has developed the patented Lapiplasty 3D Bunion Correction System, which aims to correct bunion deformities in three dimensions and stabilize the affected joint, addressing the root cause of the condition [4]. - Treace also offers additional systems such as the Adductoplasty Midfoot Correction System and minimally invasive options like the Nanoplasty 3D and Percuplasty™ systems, along with the SpeedMTP System [4]. - The company is expanding its market presence by extending its SpeedPlate rapid compression implant platform and providing advanced digital solutions for pre-operative planning [4].

Company Overview - Treace Medical Concepts, Inc. (NASDAQ:TMCI) is a medical technology company founded in 2014 and headquartered in Ponte Vedra, Florida, focused on advancing surgical treatment standards for bunion and related midfoot deformities [4] Financial Performance - In the third quarter of 2025, Treace reported revenue of $50.2 million, reflecting an 11% year-over-year growth [3] - The company is in a transition phase compared to larger peers, but continues to show steady growth [3][4] Strategic Focus - Management is concentrating on expanding the product portfolio, enhancing surgeon education and training, and strengthening the sales organization to drive market share gains and improve profitability as procedure volumes normalize [3] - Despite cautious near-term investor sentiment, the company's strategic investments position it to benefit from an improving MedTech demand backdrop as 2026 approaches [4] Market Sentiment - Stifel recently lowered its price target for Treace Medical from $5 to $3 while maintaining a Hold rating, indicating a broader recalibration in the MedTech sector due to pressures anticipated in 2025 [1] - The firm remains optimistic about the sector's outlook heading into 2026, particularly for large-cap MedTech, despite Treace's transitional status [1]

Company Overview - Treace Medical is a medical device company focused on improving surgical outcomes for bunion patients [3] - The company pioneered the Lapiplasty 3D bunion correction procedure in 2015, establishing itself as a leader in the bunion market [4] Financial Performance - Since its IPO in 2021, Treace Medical has executed strategic plans leading to strong market share gains and positive adjusted EBITDA progress [3] - The company has become the largest dollar share player in the U.S. bunion market [4] Market Position - Treace Medical's innovative 3D bunion solutions are supported by strong intellectual property and marketed through the industry's only bunion-focused direct sales channel [4]