Treace Medical Concepts reported a strong start to 2021 with a 66% increase in revenue compared to the same period last year. The company's gross margin also improved, and they completed their initial public offering.
Revenue of $18.7 million, a 66% increase over the same period last year
Gross margin of 82.2%, an increase of 340 basis points from the same period last year
Completed initial public offering with $107.1 million in proceeds, net of underwriting discounts, commissions and offering costs
Interim results from ALIGN3D™ clinical study demonstrating positive radiographic and patient-reported outcomes starting at 6 weeks and maintained at 12 months
Treace Medical Concepts projects revenue for the full year 2021 to range from $87 million to $92 million, which represents approximately 52% to 60% growth over the Company’s fiscal year 2020 revenue.
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