Treace Medical Q1 revenue $51.1M (+21% YoY), cuts FY2024 guidance to $201-$211M

TREACE MEDICAL CONCEPTS, INC.

2024-Q1 EPS reported -$0.30 revenue$51,108,000

Q1 revenue $51.1M (+21% YoY); net loss $18.7M ($0.30/share) vs $13.5M loss in Q1 2023.
FY2024 revenue guidance slashed to $201-$211M from $220-$225M, citing increased MIS Osteotomy competition and knockoffs.
Adjusted EBITDA loss improved to $8.3M in Q1 from $10.0M in prior year.
CEO plans two new 3D MIS Osteotomy launches later in 2024 to counter competitive headwinds.
Cash and marketable securities $112.1M; 63 granted US patents as of March 31, 2024.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TREACE MEDICAL CONCEPTS, INC. reported the first quarter ended March 31, 2024 results: revenue $51.1 million, net income ($18.7) million, EPS ($0.30) per share. Guidance lowered.

Period: the first quarter ended March 31, 2024
Revenue: $51.1 million
Net income: ($18.7) million
EPS: ($0.30) per share
Guidance: lowered
Result: reported results

Exact text from the filing

through its flagship Lapiplasty ® and Adductoplasty ® Procedures, today reported financial results for the first quarter ended March 31, 2024. Recent Highlights • Revenue of $51.1 million in first quarter 2024 increased 21% over same period in 2023 • Gross margin of 80.2% in first quarter 2024 • First quarter 2024 net loss attributable to common stockholders was

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Source: SEC EDGAR

accession 0000950170-24-054475

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