Treace Q1 revenue $29M (+55% YoY), net loss ($9.0M), raises FY guidance to $128-133M

TREACE MEDICAL CONCEPTS, INC.

2023-Q1 EPS reported -$0.16 revenue$29,047,000

Revenue of $29.0M, up 55% from $18.7M in Q1 2021; driven by increased Lapiplasty kit sales and higher ASPs.
Net loss attributable to common stockholders was ($9.0M), or ($0.16) per share, vs. ($2.6M) or ($0.07) in Q1 2021.
Gross margin 81.0% (down from 82.2%); operating expenses rose to $31.6M from $16.8M on higher S&M and G&A investments.
New five-year $150M loan arrangement ($120M term loan + $30M revolver); $54M drawn to repay existing $30M debt.
FY 2022 revenue guidance raised to $128M-$133M (prior $125M-$130M); representing ~36%-41% YoY growth.

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