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Mar 31, 2023
Treace Q1 2023 Earnings Report
Reported financial results for the first quarter ended March 31, 2023.
Key Takeaways
Treace Medical Concepts reported a 45% increase in revenue to $42.2 million for the first quarter of 2023 compared to the same period last year. The increase was driven by an increased number of Lapiplasty® procedure kits sold and increased blended average selling prices. Gross margin was 80.9%.
Revenue of $42.2 million, a 45% increase year-over-year.
Blended average revenue per Lapiplasty® procedure kit sold was $6,244, a 13% increase year-over-year.
Gross margin of 80.9%.
Direct sales channel contribution increased to 79% of sales compared to 63% in the first quarter 2022.
Forward Guidance
Treace is raising its full year 2023 revenue guidance to $190 million to $196 million, which represents approximately 34% to 38% growth over the Company’s 2022 revenue. This compares to the prior revenue guidance of $187 million to $193 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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