Treace Medical Concepts, Inc.
treace.comWhat Do They Do?
Sells bunion and midfoot surgical systems, implants and instruments to foot-and-ankle surgeons, hospitals and ambulatory surgery centers.
10-K for FY2025, filed Feb 27, 2026
How Do They Make Money?
The company bills hospitals, ambulatory surgery centers and stocking distributors for implant kits, single-use instruments and other products; distributors have longer to pay than hospitals and surgery centers.
10-K for FY2025, filed Feb 27, 2026The Company generates revenue from the sale of its proprietary implant kits, single-use sterile instruments, and other complementary…View ↗
Implant kits, single use instruments, and other complementary products are sold in the United States through a combination of a direct…View ↗
For shipments to customers, the Company generally offers the right to return the product within 30 days for a full refund, and for returns…View ↗
$212.7M
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10-K for FY2025, filed Feb 27, 2026
$212.7M ↗
Who Are Their Customers?
Treace sells to physicians, surgeons, hospitals and ambulatory surgery centers through its direct employee sales force and independent sales agencies, and also sells to stocking distributors.
10-K for FY2025, filed Feb 27, 2026
Do Revenues Turn Into Profits?
No. It lost $59M in FY2025.
10-K for FY2025, filed Feb 27, 2026
−$54.2MView ↗
10-K for FY2025, filed Feb 27, 2026
−$59MView ↗
10-K for FY2025, filed Feb 27, 2026
−$29.5MView ↗
How Are They Changing?
- Net income
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Sources
10-Q for Q2 FY2026, filed Aug 7, 2026
−$15.9MView ↗
- ▼ −9% (Loss)
- vs −$17.4M in Q2 FY2025
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Aug 7, 2026
Raises revenue guidance and narrows expected adjusted EBITDA loss
Revenue guidance rose from $202 million to $212 million to $204 million to $212 million; expected adjusted EBITDA loss narrowed from $4.0 million–$6.0 million to $3.0 million–$5.0 million.
Sources
8-K, filed Aug 7, 2026
The Company is raising its full-year 2026 revenue guidance to be in the range of $204 million to $212 million, representing a decline of 4%…View ↗
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Apr 9, 2026
Raises full-year revenue guidance
The 2026 range moved to $202 million to $212 million from $200 million to $212 million, with growth offset by portfolio mix.
Sources
8-K, filed Apr 9, 2026
The Company is updating its full-year 2026 revenue guidance to $202 million to $212 million. This compares to previous full-year guidance…View ↗
Growing. Revenue grew 2.3x in 4 years, from $94.4M in FY2021 to $212.7M in FY2025, about 23% a year.
Broader surgical portfolio
The product range has expanded beyond Lapiplasty and Adductoplasty to include minimally invasive bunion osteotomy systems, a great-toe fusion system and patient-specific surgical planning tools.
10-K for FY2022, filed Mar 8, 2023 10-K for FY2025, filed Feb 27, 2026We are a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related…View ↗
We are a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related…View ↗
Who Do They Compete With?
Competes with Stryker, Arthrex, Paragon 28, Zimmer Biomet Holdings, DePuy Synthes Products, CrossRoads Extremity Systems, Enovis, CONMED, Medartis Holdings, Nextremity Solutions, Medline Industries, Henry Schein, RELJA Innovations, Extremity Medical, Forma Medical, Fusion Orthopedics, Sky Surgical, Vilex, MedCAD F&A, and Ossio
10-K for FY2025, filed Feb 27, 2026Our competition includes medical device manufacturers in the orthopaedic foot and ankle market. Stryker Corporation is currently the leader…View ↗
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