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Jun 30, 2023
Treace Q2 2023 Earnings Report
Reported a 40% increase in revenue and solid execution of growth strategies
Key Takeaways
Treace Medical Concepts reported a strong second quarter with a 40% increase in revenue to $42.0 million compared to the same period last year. The company also saw an increase in gross profit to $34.3 million and made progress on adjusted EBITDA. They are raising full-year 2023 revenue guidance to $191 million to $197 million.
Revenue increased by 40% to $42.0 million compared to the same period last year.
Blended average revenue per Lapiplasty procedure kit sold was $6,176, an 8% increase over the same period last year.
Gross margin was 81.7%.
The direct sales channel contributed 79% of sales, compared to 68% in the second quarter of 2022.
Forward Guidance
Treace is raising its full-year 2023 revenue guidance to $191 million to $197 million, which represents approximately 35% to 39% growth over the Company’s 2022 revenue. This compares to the prior full-year 2023 revenue guidance of $190 million to $196 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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