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Dec 31, 2022
Treace Q4 2022 Earnings Report
Reported a 49% increase in revenue and gross margin of 80.4% for the fourth quarter of 2022.
Key Takeaways
Treace Medical Concepts reported a strong fourth quarter in 2022, with revenue increasing by 49% compared to the same period last year. The company's gross margin remained high at 80.4%, and there was increased adoption of Lapiplasty procedure.
Revenue of $49.8 million in the fourth quarter of 2022, a 49% increase over the same period last year and a 51% increase sequentially.
Blended average revenue per Lapiplasty® procedure kit sold was $5,907, a 10% increase over the same period last year and a 2% increase sequentially.
Gross margin of 80.4% in the fourth quarter 2022.
Fourth quarter revenue contribution from direct sales channel increased to 77% of sales compared to 58% during the fourth quarter 2021.
Forward Guidance
Treace expects revenue for the full year 2023 to range from $187 million to $193 million, which represents approximately 32% to 36% growth over the Company’s 2022 revenue.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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