TMCI · Treace Medical Concepts, Inc.

Treace Medical Concepts reported first quarter 2026 revenue of $47.2 million, a 10% decline from $52.6 million in the same period last year, reflecting continued headwinds from demand-driven product and price mix shift within its expanded portfolio. Gross margin remained relatively stable at 79.3% versus 79.7% in Q1 2025. Total operating expenses decreased by $2.9 million to $54.6 million, driven by lower sales and marketing and R&D costs, partially offset by higher G&A. Net loss widened to $(18.0) million ($(0.28) per share) from $(15.9) million ($(0.25) per share) in the prior year. Adjusted EBITDA loss was $(5.5) million compared to $(3.8) million. Cash, cash equivalents, and marketable securities totaled $51.9 million as of March 31, 2026, an increase of $3.5 million from December 31, 2025, and the company has access to an additional $115 million under its credit facility. Management highlighted growing demand for its comprehensive portfolio and continued market share gains, with case volumes growing year-over-year. The company reaffirmed its full-year 2026 revenue guidance of $202-$212 million (decline of 5% to 0%) and expects Adjusted EBITDA loss of $4.0-$6.0 million, along with a ~50% reduction in cash usage versus 2025. The company also initiated limited market release of the SuperBite Compression Screw System and expanded its global patent portfolio to over 130 granted patents. The earnings release was furnished under Item 2.02 and is not deemed filed for SEC purposes.