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Dec 31, 2023
Treace Q4 2023 Earnings Report
Reported a 25% increase in revenue compared to Q4 2022, driven by increased Lapiplasty® procedure kit sales and higher blended average selling prices.
Key Takeaways
Treace Medical Concepts reported a strong fourth quarter and full-year 2023, with revenue increasing 25% in Q4 and 32% for the full year. The company saw growth in Lapiplasty® procedure kit sales, blended average selling prices, and active surgeon additions. Treace is guiding for continued revenue growth in 2024 and expects to make significant progress towards Adjusted EBITDA breakeven.
Revenue of $62.2 million in Q4 2023, a 25% increase year-over-year.
Blended average revenue per Lapiplasty® procedure kit sold in Q4 2023 was $6,437, a 9% increase year-over-year.
Gross margin of 81.6% in Q4 2023.
Added 164 new active surgeons in Q4 2023, ending the year with 2,855 active surgeons.
Forward Guidance
Treace expects revenue for the full-year 2024 to be $220 million to $225 million, which represents approximately 18% to 20% growth over full-year 2023 revenue. The Company expects to make significant progress towards Adjusted EBITDA breakeven for full-year 2024 and anticipates Adjusted EBITDA to improve approximately 50% compared to full-year 2023.
Positive Outlook
- Revenue growth of 18% to 20% expected for full-year 2024.
- Significant progress towards Adjusted EBITDA breakeven for full-year 2024.
- Anticipated Adjusted EBITDA improvement of approximately 50% compared to full-year 2023.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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