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Sep 30, 2022
Treace Q3 2022 Earnings Report
Treace's business experienced continued momentum, with revenue increasing by 53%.
Key Takeaways
Treace Medical Concepts reported a 53% increase in revenue for the third quarter of 2022, reaching $33.1 million. The growth was driven by an increased number of Lapiplasty® procedure kits sold and higher average selling prices. The company is raising its full-year 2022 revenue guidance to $135 million to $138 million.
Revenue increased by 53% to $33.1 million compared to the same period last year.
Blended average revenue per Lapiplasty® procedure kit sold was $5,794, a 6% increase over the same period last year.
Gross margin was 80.0% in the third quarter of 2022.
The direct sales channel contributed 74% of sales, compared to 53% in the third quarter of 2021.
Forward Guidance
Treace is raising its full-year 2022 revenue guidance to $135 million to $138 million, which represents approximately 43% to 46% growth over the Company’s 2021 revenue.
Positive Outlook
- Revenue guidance raised to $135M - $138M
- Represents 43% - 46% growth over 2021
- Strategic investments in direct sales channel
- Targeted R&D initiatives
- Direct-to-consumer programs
Historical Earnings Impact
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Avg. Return Before/After Earnings
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