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Sep 30, 2024
Treace Q3 2024 Earnings Report
Reported financial results for the third quarter ended September 30, 2024.
Key Takeaways
Treace Medical Concepts reported an 11% increase in revenue to $45.1 million for Q3 2024 compared to $40.8 million in Q3 2023. The net loss improved to ($15.4) million from ($17.5) million year-over-year, and the Adjusted EBITDA loss improved 45% to ($5.1) million.
Revenue of $45.1 million in third quarter 2024 increased 11% over same period in 2023
Third quarter 2024 net loss was ($15.4) million compared to ($17.5) million for same period in 2023. Adjusted EBITDA loss improved 45% to ($5.1) million in the third quarter 2024 compared to ($9.2) million for the same period in 2023
Announced first entry into high volume osteotomy market with Nanoplasty™ 3D Minimally Invasive Bunion Correction™ Procedure and reaffirms plan to release second minimally invasive technology platform later in the fourth quarter
Focused R&D innovation pipeline is now poised to significantly expand technology and procedure offerings through 2025 and beyond
Forward Guidance
The Company is revising full-year 2024 revenue guidance to $204 million to $211 million, representing growth of 9% to 13%, compared to full-year 2023. The Company continues to expect our Adjusted EBITDA loss to decrease by approximately 50% compared to full-year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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