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Treace Medical Concepts, Inc., a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty System, enables surgeons to correct all three dimensions of the bunion deformity, stabilize the first TMT joint, and allow return to weight-bearing in a walking boot; minimally invasive products for four bunion classes; Nanoplasty 3D Minimally Invasive Bunion Correction System delivers a reproducible 3D correction of the bunion deformity through a cosmetically appealing; and Percuplasty Percutaneous 3D Bunion Correction System that provides 3D correction of the bunion deformity through percutaneous incisions. It also provides Adductoplasty System, a system designed for the correction of metatarsus adductus deformities and osteoarthritis of the midfoot; SpeedMTP Rapid Compression Implant; SpeedPlate Implant Fixation Platform to address the fusion of larger bones of the midfoot and rearfoot; SpeedPlate Micro-Quad implant, an implant designed for stability and fit in small incision surgical approaches; and SpeedAkin Anatomic Compression Implant. In addition, the company offers The IntelliGuide patient specific instrumentation provides patient-specific, 3D-printed cut guides, and a pre-operative plan for a complete picture of the deformity and correction. Further, it provides FastGrafter Autografter Harvesting System; SpeedRelease Guided Release Instrument; TriTome Triple-Edge Release Instrument; RazorTome 7mm Precision Osteotome; LapiTome Hooked Bone Removal Osteotome; GreatRelease Rapid MTP Release Instrument; CornerChisel Release Tool; NanoRasp MIS Bone Contouring Tool; FeatherRasp Rapid Bone Contouring Instrument; and Akinator Single-cut Akin Wedge Osteotomy tool. Additionally, the company offers biologics and wedges, such as Treace Allograft Wedges; and CortiFuse Flowable Cortical Fibers. Treace Medical Concepts, Inc. was founded in 2013 and is headquartered in Ponte Vedra, Florida.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $213M | $-43M | $-59M | $-29M | -67.6% | 1.6% | - |
| 2024 | $209M | $-42M | $-56M | $-49M | -49.4% | 11.9% | - |
| 2023 | $187M | $-39M | $-50M | $-46M | -35.9% | 31.9% | - |
| 2022 | $142M | $-36M | $-43M | $-45M | -70.7% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 141.84 | 187.12 | 209.36 | 212.69 |
| Cost Of Revenue | 25.53 | 35.18 | 41.09 | 42.94 |
| Gross Profit | 116.31 | 151.94 | 168.26 | 169.75 |
| Operating Expense | 151.15 | 203.37 | 223.95 | 223.91 |
| Operating Income | -34.84 | -51.43 | -55.69 | -54.15 |
| EBITDA | -36.28 | -39.01 | -42.07 | -43.06 |
| EBIT | -38.42 | -44.36 | -50.49 | -53.68 |
| Pretax Income | -42.81 | -49.53 | -55.74 | -59 |
| Net Income | -42.81 | -49.53 | -55.74 | -59 |
| Net Income Common Stockholders | -42.81 | -49.53 | -55.74 | -59 |
| Total Expenses | 176.68 | 238.55 | 265.05 | 266.84 |
| Interest Expense | 4.40 | 5.17 | 5.26 | 5.32 |
| Interest Income | 1.31 | 6.73 | 4.88 | 2.78 |
| Research And Development | 13.58 | 15.44 | 20.59 | 20.28 |
| Selling General And Administration | 137.57 | 187.93 | 203.36 | 203.62 |
| Normalized EBITDA | -31.80 | -39.01 | -42.07 | -40.32 |
| Normalized Income | -38.33 | -49.53 | -55.74 | -56.27 |
| Basic EPS | -0.77 | -0.81 | -0.90 | 0 |
| Diluted EPS | -0.77 | -0.81 | -0.90 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0 | 0 | 0 | 0 |
| Total Unusual Items | -4.48 | 0 | 0 | -2.74 |
| Total Unusual Items Excluding Goodwill | -4.48 | 0 | 0 | -2.74 |
| Net Income From Continuing Operation Net Minority Interest | -42.81 | -49.53 | -55.74 | -59 |
| Reconciled Depreciation | 2.13 | 5.35 | 8.42 | 10.62 |
| Reconciled Cost Of Revenue | 25.53 | 35.18 | 41.09 | 42.94 |
| Net Interest Income | -3.08 | 1.56 | -0.38 | -2.54 |
| Net Income From Continuing And Discontinued Operation | -42.81 | -49.53 | -55.74 | -59 |
| Total Operating Income As Reported | -34.84 | -51.43 | -55.69 | -54.15 |
| Diluted Average Shares | 55.28 | 60.85 | 62.11 | 0 |
| Basic Average Shares | 55.28 | 60.85 | 62.11 | 0 |
| Diluted NI Availto Com Stockholders | -42.81 | -49.53 | -55.74 | -59 |
| Preferred Stock Dividends | 0 | 0 | 0 | 0 |
| Net Income Including Noncontrolling Interests | -42.81 | -49.53 | -55.74 | -59 |
| Net Income Continuous Operations | -42.81 | -49.53 | -55.74 | -59 |
| Other Income Expense | -4.89 | 0.34 | 0.32 | -2.31 |
| Other Non Operating Income Expenses | -0.40 | 0.34 | 0.32 | 0.43 |
| Special Income Charges | -4.48 | 0 | 0 | -2.74 |
| Other Special Charges | 4.48 | 0 | 0 | 2.74 |
| Net Non Operating Interest Income Expense | -3.08 | 1.56 | -0.38 | -2.54 |
| Interest Expense Non Operating | 4.40 | 5.17 | 5.26 | 5.32 |
| Interest Income Non Operating | 1.31 | 6.73 | 4.88 | 2.78 |
| Selling And Marketing Expense | 104.57 | 140.89 | 147.64 | 140.88 |
| General And Administrative Expense | 33 | 47.03 | 55.72 | 62.74 |
| Other Gand A | 33 | 47.03 | 55.72 | 62.74 |
| Operating Revenue | 141.84 | 187.12 | 209.36 | 212.69 |
Healthcare sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Treace Medical Concepts, Inc.this co. | TMCI | - | - | - | -67.6% | - |
| Actuate Therapeutics, Inc. Common stock | ACTU | $68M | - | 8.45 | -280.5% | - |
| LENSAR, Inc. | LNSR | $65M | - | -2.48 | 131.7% | -3.17 |
| Pulmonx Corporation | LUNG | $51M | - | 0.92 | -99.8% | -0.71 |
| Accuray Incorporated | ARAY | $50M |
| - |
| 0.94 |
| -2.0% |
| -107.66 |
| INmune Bio Inc. | INMB | $35M | - | 1.50 | -195.3% | -0.38 |
| Myomo, Inc. | MYO | $31M | - | 2.68 | -136.6% | -2.33 |
| Tvardi Therapeutics, Inc. | TVRD | $29M | - | 1.37 | -87.0% | 0.07 |
| Tevogen Bio Holdings Inc. | TVGN | $27M | - | -1.52 | 319.1% | -1.64 |
| Peer Median | - | - | 1.15 | -93.4% | -1.64 | |