$TMCI
TREACE MEDICAL CONCEPTS, INC.

2023 Q3 Form 10-Q Financial Statement

#000095017023040159 Filed on August 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q4
Revenue $40.76M $41.95M $49.77M
YoY Change 23.3% 40.0% 48.84%
Cost Of Revenue $7.998M $7.675M $9.742M
YoY Change 20.74% 35.82% 54.46%
Gross Profit $32.76M $34.28M $40.03M
YoY Change 23.95% 40.97% 47.53%
Gross Profit Margin 80.38% 81.71% 80.43%
Selling, General & Admin $46.23M $43.80M $39.78M
YoY Change 36.16% 31.68% 35.51%
% of Gross Profit 141.11% 127.79% 99.37%
Research & Development $4.350M $3.526M $3.749M
YoY Change 14.5% 18.16% 11.02%
% of Gross Profit 13.28% 10.29% 9.37%
Depreciation & Amortization $1.560M $1.100M $917.0K
YoY Change 290.0% 160.05% 232.25%
% of Gross Profit 4.76% 3.21% 2.29%
Operating Expenses $50.58M $47.33M $43.52M
YoY Change 33.99% 30.57% 32.98%
Operating Profit -$17.82M -$13.05M -$3.497M
YoY Change 57.43% 9.38% -37.52%
Interest Expense $1.296M $1.282M -$615.0K
YoY Change 8.91% -256.72% -39.82%
% of Operating Profit
Other Income/Expense, Net $297.0K $781.0K
YoY Change -136.44% -114.73%
Pretax Income -$17.52M -$12.27M -$4.412M
YoY Change 44.4% -28.8% -33.34%
Income Tax
% Of Pretax Income
Net Earnings -$17.52M -$12.27M -$4.412M
YoY Change 44.41% -28.8% -33.34%
Net Earnings / Revenue -42.99% -29.25% -8.86%
Basic Earnings Per Share -$0.28 -$0.20
Diluted Earnings Per Share -$0.28 -$0.20 -$0.08
COMMON SHARES
Basic Shares Outstanding 61.54M 61.33M 55.50M
Diluted Shares Outstanding 61.56M 61.38M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $122.2M $139.5M $81.25M
YoY Change 38.01% 37.37% -23.23%
Cash & Equivalents $7.278M $12.04M $19.47M
Short-Term Investments $114.9M $127.4M $61.78M
Other Short-Term Assets $10.70M $5.284M $3.624M
YoY Change 166.57% 32.27% 20.4%
Inventory $29.31M $26.10M $19.33M
Prepaid Expenses
Receivables $25.00M $27.23M $29.20M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $187.1M $198.1M $133.4M
YoY Change 46.32% 46.52% -3.31%
LONG-TERM ASSETS
Property, Plant & Equipment $21.54M $19.44M $15.34M
YoY Change 52.22% -16.91% 438.36%
Goodwill $12.82M $12.82M $0.00
YoY Change
Intangibles $9.262M $9.500M $0.00
YoY Change
Long-Term Investments
YoY Change
Other Assets $146.0K $146.0K $146.0K
YoY Change 0.0% 8.96%
Total Long-Term Assets $53.22M $51.55M $25.62M
YoY Change 86.46% 119.12% 799.33%
TOTAL ASSETS
Total Short-Term Assets $187.1M $198.1M $133.4M
Total Long-Term Assets $53.22M $51.55M $25.62M
Total Assets $240.4M $249.6M $159.0M
YoY Change 53.64% 57.28% 12.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.680M $8.146M $8.668M
YoY Change 10.14% 162.86% 113.71%
Accrued Expenses $8.936M $7.072M $6.216M
YoY Change 72.21% -47.76% 37.58%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $33.15M $30.02M $30.25M
YoY Change 46.83% 80.45% 66.09%
LONG-TERM LIABILITIES
Long-Term Debt $52.93M $52.86M $52.71M
YoY Change 0.57% 0.57% 79.5%
Other Long-Term Liabilities $37.00K $37.00K $15.54M
YoY Change -99.81% -99.79% 8882.08%
Total Long-Term Liabilities $52.97M $52.90M $52.71M
YoY Change 0.64% -24.83% 79.5%
TOTAL LIABILITIES
Total Short-Term Liabilities $33.15M $30.02M $30.25M
Total Long-Term Liabilities $52.97M $52.90M $52.71M
Total Liabilities $102.5M $99.68M $98.50M
YoY Change 8.76% 14.57% 106.28%
SHAREHOLDERS EQUITY
Retained Earnings -$128.0M -$110.4M -$84.70M
YoY Change 59.4% 102.12%
Common Stock $62.00K $62.00K $55.00K
YoY Change 34.78% 22.22%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares
Shareholders Equity $137.9M $150.0M $60.53M
YoY Change
Total Liabilities & Shareholders Equity $240.4M $249.6M $159.0M
YoY Change 53.64% 57.28% 12.93%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q4
OPERATING ACTIVITIES
Net Income -$17.52M -$12.27M -$4.412M
YoY Change 44.41% -28.8% -33.34%
Depreciation, Depletion And Amortization $1.560M $1.100M $917.0K
YoY Change 290.0% 160.05% 232.25%
Cash From Operating Activities -$9.520M -$8.335M -$5.358M
YoY Change 27.22% -21.11% 42.8%
INVESTING ACTIVITIES
Capital Expenditures $3.500M $4.231M $2.332M
YoY Change -159.76% -181.87% -359.11%
Acquisitions
YoY Change
Other Investing Activities $8.090M -$6.192M -$61.68M
YoY Change
Cash From Investing Activities $4.590M -$10.42M -$64.01M
YoY Change -178.37% 101.68% 7012.44%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 160.0K 1.180M 297.0K
YoY Change -54.67% -93.72% -71.05%
NET CHANGE
Cash From Operating Activities -9.520M -8.335M -5.358M
Cash From Investing Activities 4.590M -10.42M -64.01M
Cash From Financing Activities 160.0K 1.180M 297.0K
Net Change In Cash -4.770M -17.58M -69.07M
YoY Change -63.27% -676.33% 1804.94%
FREE CASH FLOW
Cash From Operating Activities -$9.520M -$8.335M -$5.358M
Capital Expenditures $3.500M $4.231M $2.332M
Free Cash Flow -$13.02M -$12.57M -$7.690M
YoY Change 700.74% 132.79% 169.64%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Amendment Flag
AmendmentFlag
false
dei Entity Central Index Key
EntityCentralIndexKey
0001630627
dei Document Type
DocumentType
10-Q
dei Document Quarterly Report
DocumentQuarterlyReport
true
dei Document Period End Date
DocumentPeriodEndDate
2023-06-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2023
dei Document Transition Report
DocumentTransitionReport
false
dei Entity File Number
EntityFileNumber
001-40355
dei Entity Registrant Name
EntityRegistrantName
Treace Medical Concepts, Inc.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
47-1052611
dei Entity Address Address Line1
EntityAddressAddressLine1
100 Palmetto Park Place
dei Entity Address City Or Town
EntityAddressCityOrTown
Ponte Vedra
dei Entity Address State Or Province
EntityAddressStateOrProvince
FL
dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
32081
dei City Area Code
CityAreaCode
904
dei Local Phone Number
LocalPhoneNumber
373-5940
dei Security12b Title
Security12bTitle
Common stock, $0.001 par value
dei Trading Symbol
TradingSymbol
TMCI
dei Security Exchange Name
SecurityExchangeName
NASDAQ
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Small Business
EntitySmallBusiness
true
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
true
dei Entity Ex Transition Period
EntityExTransitionPeriod
false
dei Entity Shell Company
EntityShellCompany
false
CY2023Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
61544672
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12035000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19473000
CY2023Q2 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
127444000
CY2022Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
61779000
CY2023Q2 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
707000
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
735000
CY2023Q2 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
27232000
CY2022Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
29196000
CY2023Q2 us-gaap Inventory Net
InventoryNet
26101000
CY2022Q4 us-gaap Inventory Net
InventoryNet
19330000
CY2023Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
5284000
CY2022Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3624000
CY2023Q2 us-gaap Assets Current
AssetsCurrent
198096000
CY2022Q4 us-gaap Assets Current
AssetsCurrent
133402000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19435000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15338000
CY2023Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
9500000
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
0
CY2023Q2 us-gaap Goodwill
Goodwill
12815000
CY2022Q4 us-gaap Goodwill
Goodwill
0
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
9651000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10138000
CY2023Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
146000
CY2022Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
146000
CY2023Q2 us-gaap Assets
Assets
249643000
CY2022Q4 us-gaap Assets
Assets
159024000
CY2023Q2 us-gaap Accounts Payable Current
AccountsPayableCurrent
8146000
CY2022Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
8668000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7072000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6216000
CY2023Q2 tmci Accrued Commissions
AccruedCommissions
5661000
CY2022Q4 tmci Accrued Commissions
AccruedCommissions
7356000
CY2023Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
5368000
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
7666000
CY2023Q2 tmci Operating Lease And Other Liabilities
OperatingLeaseAndOtherLiabilities
3775000
CY2022Q4 tmci Operating Lease And Other Liabilities
OperatingLeaseAndOtherLiabilities
339000
CY2023Q2 us-gaap Liabilities Current
LiabilitiesCurrent
30022000
CY2022Q4 us-gaap Liabilities Current
LiabilitiesCurrent
30245000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1141000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1289000
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
52859000
CY2022Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
52711000
CY2023Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
16766000
CY2022Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
0
CY2023Q2 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
37000
CY2022Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
0
CY2023Q2 us-gaap Liabilities
Liabilities
99684000
CY2022Q4 us-gaap Liabilities
Liabilities
98495000
CY2023Q2 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0
CY2022Q4 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
0
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2022Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2023Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
61528409
CY2023Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
61528409
CY2022Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
300000000
CY2022Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
55628208
CY2022Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
55628208
CY2023Q2 us-gaap Common Stock Value
CommonStockValue
62000
CY2022Q4 us-gaap Common Stock Value
CommonStockValue
55000
CY2023Q2 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
260561000
CY2022Q4 us-gaap Additional Paid In Capital
AdditionalPaidInCapital
145221000
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-110445000
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-84720000
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-219000
CY2022Q4 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-27000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
149959000
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
60529000
CY2023Q2 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
249643000
CY2022Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
159024000
CY2023Q2 us-gaap Revenues
Revenues
41953000
CY2022Q2 us-gaap Revenues
Revenues
29967000
us-gaap Revenues
Revenues
84148000
us-gaap Revenues
Revenues
59014000
CY2023Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
7675000
CY2022Q2 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
5291000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
15714000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
10421000
CY2023Q2 us-gaap Gross Profit
GrossProfit
34278000
CY2022Q2 us-gaap Gross Profit
GrossProfit
24676000
us-gaap Gross Profit
GrossProfit
68434000
us-gaap Gross Profit
GrossProfit
48593000
CY2023Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
33773000
CY2022Q2 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
26610000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
67428000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
48909000
CY2023Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
3526000
CY2022Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2984000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6938000
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
6036000
CY2023Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
10031000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7015000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
20896000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13677000
CY2023Q2 us-gaap Operating Expenses
OperatingExpenses
47330000
CY2022Q2 us-gaap Operating Expenses
OperatingExpenses
36609000
us-gaap Operating Expenses
OperatingExpenses
95262000
us-gaap Operating Expenses
OperatingExpenses
68622000
CY2023Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-13052000
CY2022Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-11933000
us-gaap Operating Income Loss
OperatingIncomeLoss
-26828000
us-gaap Operating Income Loss
OperatingIncomeLoss
-20029000
CY2023Q2 us-gaap Investment Income Net
InvestmentIncomeNet
1968000
CY2022Q2 us-gaap Investment Income Net
InvestmentIncomeNet
131000
us-gaap Investment Income Net
InvestmentIncomeNet
3447000
us-gaap Investment Income Net
InvestmentIncomeNet
140000
CY2023Q2 us-gaap Interest Expense
InterestExpense
1282000
CY2022Q2 us-gaap Interest Expense
InterestExpense
946000
us-gaap Interest Expense
InterestExpense
2567000
us-gaap Interest Expense
InterestExpense
1897000
CY2023Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4483000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4483000
CY2023Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
95000
CY2022Q2 us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-3000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
223000
us-gaap Other Operating Income Expense Net
OtherOperatingIncomeExpenseNet
-1000
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
781000
CY2022Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-5301000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1103000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-6241000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-12271000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17234000
us-gaap Net Income Loss
NetIncomeLoss
-25725000
us-gaap Net Income Loss
NetIncomeLoss
-26270000
CY2023Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-163000
CY2022Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-192000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0
CY2023Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-12434000
CY2022Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-17234000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-25917000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
-26270000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.2
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.2
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61382514
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61382514
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55308273
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55308273
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60060483
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60060483
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55071368
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55071368
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
60529000
CY2023Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
352000
CY2023Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
2692000
CY2023Q1 tmci Issuance Cost And Underwriting Discount
IssuanceCostAndUnderwritingDiscount
7500000
CY2023Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
107527000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
-13454000
CY2023Q1 tmci Unrealized Loss On Available For Sale Marketable Securities
UnrealizedLossOnAvailableForSaleMarketableSecurities
29000
CY2023Q1 us-gaap Stockholders Equity
StockholdersEquity
157617000
CY2023Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1180000
CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
3596000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-12271000
CY2023Q2 tmci Unrealized Loss On Available For Sale Marketable Securities
UnrealizedLossOnAvailableForSaleMarketableSecurities
163000
CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
149959000
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
93073000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1372000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1409000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-9036000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
86818000
CY2022Q2 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
165000
CY2022Q2 us-gaap Adjustments To Additional Paid In Capital Share Based Compensation Stock Options Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationStockOptionsRequisiteServicePeriodRecognition
1963000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17234000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
71712000
us-gaap Profit Loss
ProfitLoss
-25725000
us-gaap Profit Loss
ProfitLoss
-26270000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2019000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
757000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
78000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-45000
us-gaap Share Based Compensation
ShareBasedCompensation
6288000
us-gaap Share Based Compensation
ShareBasedCompensation
3372000
tmci Non Cash Lease Expense
NonCashLeaseExpense
1264000
tmci Non Cash Lease Expense
NonCashLeaseExpense
1165000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
148000
us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
95000
us-gaap Inventory Write Down
InventoryWriteDown
0
us-gaap Inventory Write Down
InventoryWriteDown
-197000
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
0
us-gaap Liabilities Fair Value Adjustment
LiabilitiesFairValueAdjustment
173000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
4483000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
663000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
0
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-5000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
0
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1886000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2112000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
6704000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2410000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1641000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
1039000
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
0
us-gaap Increase Decrease In Other Noncurrent Assets
IncreaseDecreaseInOtherNoncurrentAssets
-134000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
1072000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2392000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-522000
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-957000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-3137000
us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-958000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
-38000
us-gaap Increase Decrease In Other Operating Capital Net
IncreaseDecreaseInOtherOperatingCapitalNet
0
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25594000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17807000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
120957000
us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
55763000
us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5709000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6649000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
20000000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-90903000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6649000
tmci Proceeds From Interest Bearing Term Debt
ProceedsFromInterestBearingTermDebt
0
tmci Proceeds From Interest Bearing Term Debt
ProceedsFromInterestBearingTermDebt
49651000
tmci Proceeds From Interest Bearing Revolver Debt
ProceedsFromInterestBearingRevolverDebt
0
tmci Proceeds From Interest Bearing Revolver Debt
ProceedsFromInterestBearingRevolverDebt
3850000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
989000
us-gaap Repayments Of Debt
RepaymentsOfDebt
0
us-gaap Repayments Of Debt
RepaymentsOfDebt
33893000
us-gaap Payments Of Stock Issuance Costs
PaymentsOfStockIssuanceCosts
7500000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
107527000
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1532000
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1537000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
109059000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20156000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-7438000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4300000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
19473000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105833000
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
12035000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
101533000
us-gaap Interest Paid Net
InterestPaidNet
2567000
us-gaap Interest Paid Net
InterestPaidNet
1897000
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
15300000
tmci Right Of Use Asset Obtained In Exchange For Operating Lease Incentive
RightOfUseAssetObtainedInExchangeForOperatingLeaseIncentive
-13000
tmci Right Of Use Asset Obtained In Exchange For Operating Lease Incentive
RightOfUseAssetObtainedInExchangeForOperatingLeaseIncentive
0
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-192000
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
0
us-gaap Nature Of Operations
NatureOfOperations
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">1. Formation and Business of the Company</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:6.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">The Company</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Treace Medical Concepts, LLC was formed on </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">July 29, 2013</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, as a Florida limited liability company. Effective July 1, 2014, the entity converted to a Delaware corporation and changed its name to Treace Medical Concepts, Inc. (the "Company"). The Company is a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. The Company received 510(k) clearance for the Lapiplasty® System in March 2015 and began selling its surgical medical devices in September 2015. The Company has pioneered the proprietary Lapiplasty 3D Bunion Correction System – a combination of instruments, implants and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion. In addition, the Company offers other advanced instrumentation and implants for use in the Lapiplasty Procedure or other ancillary procedures performed in high frequency with bunion surgery. In 2021, the Company expanded its offerings with the Adductoplasty® Midfoot Correction System, designed for reproducible correction of the midfoot to provide further support to hallux valgus patients. The Company operates from its corporate headquarters located in Ponte Vedra, Florida.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Initial Public Offering and Follow-on Offering</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">On April 27, 2021, the Company completed its initial public offering ("IPO"). The Company received net proceeds of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">107.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million from the IPO. On February 10, 2023, the Company completed a follow-on public offering of </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">5,476,190</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> shares of its common stock, which included the exercise in full of the underwriters' option to purchase additional shares, at a price to the public of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">21.00</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> per share. The February 2023 offering resulted in net proceeds of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">107.5</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million after deducting underwriting discounts and commissions of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">6.9</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and offering expenses payable by the Company of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">0.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Liquidity and Capital Resources</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company has incurred operating losses to date and has an accumulated deficit of $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">110.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million as of June 30, 2023. During the six months ended June 30, 2023 and 2022, the Company used </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">25.6</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and $</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">17.8</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million of cash in its operating activities, respectively. As of June 30, 2023, the Company had cash and cash equivalents of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">12.0</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million and marketable securities available-for-sale of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">$</span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">127.4</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> million.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Management believes that the Company’s existing cash, cash equivalents, and marketable securities will allow the Company to continue its planned operations for at least the next 12 months from the date of the issuance of these interim condensed </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">financial statements.</span></p>
dei Entity Incorporation Date Of Incorporation
EntityIncorporationDateOfIncorporation
2013-07-29
CY2023Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-110400000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-25600000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-17800000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12000000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
127400000
CY2022Q2 tmci Surgical Instrument Expense
SurgicalInstrumentExpense
400000
tmci Surgical Instrument Expense
SurgicalInstrumentExpense
700000
us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Use of Estimates</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The preparation of condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed financial statements and the reported amounts of revenues and expenses during the reporting periods. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, actual results may ultimately materially differ from these estimates and assumptions.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Significant estimates and assumptions include valuation of goodwill and intangible assets, contingent earn-out liabilities, reserves and write-downs related to accounts receivable, inventories, the recoverability of long-term assets, stock-based compensation, deferred tax assets and related valuation allowances and impact of contingencies. The Company had </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> accrued contingent liabilities as of </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">June 30, 2023 and December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">.</span></p>
CY2023Q2 tmci Accrued Contingent Liabilities
AccruedContingentLiabilities
0
CY2022Q4 tmci Accrued Contingent Liabilities
AccruedContingentLiabilities
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0.0%;font-size:10.0pt;margin-top:18.0pt;font-family:Times New Roman;margin-bottom:6.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;">Concentration of Credit Risk</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;font-style:italic;min-width:fit-content;"> </span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Financial instruments that potentially subject the Company to concentrations of risk consist principally of cash, cash equivalents, marketable securities and accounts receivable. The Company maintains its cash and cash equivalents balances with established financial institutions and, at times, such balances with any one financial institution may be in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limits. The Company's available for sale securities portfolio primarily consists of U.S. treasury and agency securities, money market funds, commercial paper, Yankee CDs, high credit quality asset-backed securities and corporate debt securities. The Company's investment policy requires its available for sale securities to meet certain criteria including investment type, credit ratings, and a maximum portfolio duration of one year. If any of the financial institutions where the Company holds deposits were to fail or be taken over by the FDIC, such as the takeover </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">of Silicon Valley Bank, where the Company did hold cash as deposits, its access to these accounts could be temporarily unavailable or permanently lost for the amounts in excess of the FDIC insured limits. The Company did </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">no</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">t have material cash deposits at Silicon Valley Bank at the time of the FDIC takeover or as of June 30, 2023.</span></p><p style="text-indent:0.0%;font-size:10.0pt;margin-top:12.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:justify;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Company earns revenue from the sale of its products to customers such as hospitals and ambulatory surgery centers. The Company’s accounts receivable is derived from revenue earned from customers. The Company performs ongoing credit evaluations of its customers’ financial condition. On June 30, 2023 and December 31, 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, no customer accounted for more than </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% of accounts receivable. For the </span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">six months ended June 30, 2023 and 2022</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">, there were no customers that represented </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">10</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">% or more of revenue.</span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2023Q2 us-gaap Cash
Cash
2951000
CY2022Q4 us-gaap Cash
Cash
3262000
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
12035000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
19473000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
127663000
us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
42000
us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
261000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
127444000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
61806000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Gain
AvailableForSaleDebtSecuritiesGrossUnrealizedGain
79000
CY2022 us-gaap Available For Sale Debt Securities Gross Unrealized Loss
AvailableForSaleDebtSecuritiesGrossUnrealizedLoss
106000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
61779000
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25429000
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
19601000
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5994000
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4263000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
19435000
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
15338000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1100000
CY2022Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
400000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
800000
CY2023Q2 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
1740000
CY2022Q4 us-gaap Accrued Royalties Current And Noncurrent
AccruedRoyaltiesCurrentAndNoncurrent
2299000
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
398000
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
412000
CY2023Q2 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
930000
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
1727000
CY2023Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
4004000
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
1778000
CY2023Q2 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
7072000
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
6216000
CY2023Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
961000
CY2022Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
339000
CY2023Q2 tmci Payable To Brokers
PayableToBrokers
2814000
CY2022Q4 tmci Payable To Brokers
PayableToBrokers
0
CY2023Q2 tmci Operating Lease And Other Liabilities
OperatingLeaseAndOtherLiabilities
3775000
CY2022Q4 tmci Operating Lease And Other Liabilities
OperatingLeaseAndOtherLiabilities
339000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
54000000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
54000000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1141000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1289000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
52859000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
52711000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3596000
CY2022Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
1963000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6288000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3372000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-12271000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17234000
us-gaap Net Income Loss
NetIncomeLoss
-25725000
us-gaap Net Income Loss
NetIncomeLoss
-26270000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61382514
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
33333000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
20667000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
54000000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
1141000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
52859000
CY2022Q2 us-gaap Line Of Credit Facility Borrowing Capacity Description
LineOfCreditFacilityBorrowingCapacityDescription
The Company is required to either (i) maintain a minimum drawn balance under the revolving loan facility or (ii) pay a minimum balance fee that is equal to the amount of the minimum balance deficit multiplied by the applicable interest rate during the period. If the outstanding balance under the revolving loan facility exceeds the lesser of (i) 50% of the revolving borrowing capacity or (ii) 50% of the borrowing base, or the Company is in default, MidCap will apply funds collected from the Company's lockbox account to reduce the outstanding balance of the revolving loan facility (“Lockbox Deductions”).
CY2022Q2 tmci Revolving Borrowing Capacity Percentage
RevolvingBorrowingCapacityPercentage
0.50
CY2022Q2 us-gaap Line Of Credit Facility Interest Rate Description
LineOfCreditFacilityInterestRateDescription
The loans bear interest at an annual rate based on a 30-day forward looking secured overnight financing rate plus 0.10% (subject to a floor of 1.0% and a cap of 3.0% for both loan agreements) plus (i) 6.0% under the term loan agreement and (ii) 4.0% under the revolving loan facility.
CY2022Q2 us-gaap Line Of Credit Facility Frequency Of Payments
LineOfCreditFacilityFrequencyOfPayments
Interest is payable monthly in arrears on the first day of each month and on the maturity of the loan agreements. The term loan agreement and the revolving loan facility are accruing interest as of June 30, 2023 at the capped interest rates of 9% and 7%, respectively. The Company is obligated to pay interest only for the first 48 months and straight-line amortization for the remaining 12 months, subject to the Company’s election to extend the initial interest-only period by 12 months to 60 months total if the Company’s trailing twelve-month revenue is at or above certain levels.
CY2022Q2 tmci Debt Instrument Repayment Fee Percentage Year1
DebtInstrumentRepaymentFeePercentageYear1
0.03
CY2022Q2 tmci Debt Instrument Repayment Fee Percentage Year3
DebtInstrumentRepaymentFeePercentageYear3
0.01
CY2022Q2 tmci Debt Instrument Repayment Fee Percentage Final
DebtInstrumentRepaymentFeePercentageFinal
0.03
CY2023Q2 tmci Accrued Contingent Liabilities
AccruedContingentLiabilities
0
CY2022Q4 tmci Accrued Contingent Liabilities
AccruedContingentLiabilities
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
771785
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
1171175
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61382514
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55308273
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55308273
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
60060483
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
60060483
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
55071368
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
55071368
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.2
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.2
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.31
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.31
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.43
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.43
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.48
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.48
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8636454
CY2022 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7745803

Files In Submission

Name View Source Status
0000950170-23-040159-index-headers.html Edgar Link pending
0000950170-23-040159-index.html Edgar Link pending
0000950170-23-040159.txt Edgar Link pending
0000950170-23-040159-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R40.htm Edgar Link pending
R41.htm Edgar Link pending
R42.htm Edgar Link pending
R43.htm Edgar Link pending
R44.htm Edgar Link pending
R45.htm Edgar Link pending
R46.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
tmci-20230630.htm Edgar Link pending
tmci-20230630.xsd Edgar Link pending
tmci-ex31_1.htm Edgar Link pending
tmci-ex31_2.htm Edgar Link pending
tmci-ex32_1.htm Edgar Link pending
tmci-ex32_2.htm Edgar Link pending
tmci-20230630_lab.xml Edgar Link unprocessable
tmci-20230630_pre.xml Edgar Link unprocessable
tmci-20230630_htm.xml Edgar Link completed
tmci-20230630_cal.xml Edgar Link unprocessable
tmci-20230630_def.xml Edgar Link unprocessable