TREACE MEDICAL CONCEPTS, INC. TMCI

Healthcare SIC 3841 - Surgical & Medical Instruments & Apparatus NAICS Manufacturing › Miscellaneous Manufacturing › Medical Equipment and Supplies Manufacturing › Surgical and Medical Instrument Manufacturing derived Nasdaq

We are a medical technology company with the goal of advancing the standard of care for the surgical management of bunion and related midfoot deformities. Bunions are complex 3-dimensional deformities that originate from an unstable joint in the middle of the foot and affect approximately 67 million Americans, of which we estimate 1.1 million are annual surgical candidates. We have pioneered and patented the Lapiplasty® 3D Bunion Correction® System—a combination of instruments, implants and surgical methods designed to surgically correct all three planes of the bunion deformity and secure the unstable joint, addressing the root cause of the bunion, and helping patients get back to their active lifestyles. To further support the needs of surgeons and bunion patients, we offer the Adductoplasty® Midfoot Correction System, designed for reproducible surgical correction of the midfoot, two systems for minimally invasive osteotomy procedures, namely the Nanoplasty® 3D Minimally Invasive Bunion Correction System and the Percuplasty™ Percutaneous 3D Bunion Correction® System, and the SpeedMTP® System for great toe fusions. We continue to expand our footprint in the marketplace by extending our SpeedPlate® Rapid Compression Implant platform to new applications, as well as providing surgeons with advanced digital solutions with our IntelliGuide® patient specific, pre-op planning and cut guide technology.

Last close 4.27 2026-10-23
Market cap $277.7M 2026-06-30 share count
52-week range 1.17 - 6.91

Valuation FY2025 figures against the last close

P/S1.3x
P/E—
P/FCF—
EV/EBITDA—
Dividend yield—
Diluted EPS-0.93

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $212.7M$209.4M$187.1M$141.8M$94.4M$57.4M$39.4M—
Cost of revenue $42.9M$41.1M$35.2M$25.5M$16.9M$12.5M$7.6M—
Gross profit $169.8M$168.3M$151.9M$116.3M$77.5M$44.9M$31.8M—
R&D $20.3M$20.6M$15.4M$13.6M$10.2M$5.8M$5.1M—
SG&A $62.7M$55.7M$47.0M$33.0M$18.4M$6.5M$4.5M—
Total operating expenses $223.9M$224.0M$203.4M$151.2M$94.0M$44.0M$35.3M—
Operating income -$54.2M-$55.7M-$51.4M-$34.8M-$16.5M$855.0K-$3.5M—
Interest expense $5.3M$5.3M$5.2M$4.4M$4.1M$2.8M$841.0K—
Pre-tax income -$59.0M-$55.7M-$50.0M-$43.0M-$20.6M-$3.7M-$4.3M—
Income tax $0$0$0$0$0$0$0—
Net income -$59.0M-$55.7M-$50.0M-$43.0M-$20.6M-$3.7M-$4.3M—
EPS, basic -0.93-0.90-0.81-0.77-0.43-0.12——
EPS, diluted -0.93-0.90-0.81-0.77-0.43-0.12-0.13—
Shares, diluted (wtd. avg.) 63.3M62.1M60.9M55.3M48.4M37.1M——

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $10.7M$11.3M$13.0M$19.5M$105.8M$18.1M$12.1M$1.3M
Short-term investments $37.7M$64.3M$110.2M$61.8M$0———
Receivables $42.2M$40.8M$38.1M$29.2M$18.6M$14.5M——
Inventory $36.0M$39.3M$29.2M$19.3M$10.6M$7.8M——
Total current assets $132.1M$161.4M$198.4M$133.4M$138.0M$41.0M——
Property, plant and equipment $29.8M$26.0M$22.3M$15.3M$2.8M$829.0K——
Goodwill $12.8M$12.8M$12.8M$0————
Other intangibles $7.1M$8.1M$9.0M$0————
Total assets $190.6M$217.1M$251.9M$159.0M$140.8M$41.8M——
Accounts payable $6.7M$10.5M$11.8M$8.7M$4.1M$2.3M——
Short-term debt $1.7M$0———$1.8M——
Total current liabilities $30.6M$34.9M$45.0M$30.2M$18.2M$11.6M——
Long-term debt $55.6M$53.3M$53.0M$52.7M$29.4M$29.2M——
Total liabilities $103.2M$104.2M$114.0M$98.5M$47.7M$41.0M——
Retained earnings -$249.0M-$190.0M-$134.2M-$84.7M-$41.9M-$21.4M——
Total equity $87.3M$112.9M$137.9M$60.5M$93.1M$776.0K$3.2M$5.9M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow -$16.0M-$37.2M-$34.6M-$30.6M-$17.2M-$4.5M-$7.7M—
Depreciation and amortisation $10.6M$8.4M$5.4M$2.1M$685.0K$1.2M$793.0K—
Stock-based compensation $33.8M$30.6M$17.4M$8.1M$3.4M$919.0K$815.0K—
Capital expenditure $13.5M$11.6M$11.5M$14.8M$2.7M$1.1M$1.2M—
Investing cash flow $13.3M$35.4M-$81.3M-$76.5M-$2.7M-$1.1M-$1.2M—
Financing cash flow $2.1M$160.0K$109.4M$20.8M$107.7M$11.5M$19.7M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001630627-26-000005.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -100M 0 100M 200M 300M Revenue, FY2019: 39.4M Gross profit, FY2019: 31.8M Net income, FY2019: -4.3M Revenue, FY2020: 57.4M Gross profit, FY2020: 44.9M Net income, FY2020: -3.7M Revenue, FY2021: 94.4M Gross profit, FY2021: 77.5M Net income, FY2021: -20.6M Revenue, FY2022: 141.8M Gross profit, FY2022: 116.3M Net income, FY2022: -43M Revenue, FY2023: 187.1M Gross profit, FY2023: 151.9M Net income, FY2023: -50M Revenue, FY2024: 209.4M Gross profit, FY2024: 168.3M Net income, FY2024: -55.7M Revenue, FY2025: 212.7M Gross profit, FY2025: 169.8M Net income, FY2025: -59M FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue — $39.4M $57.4M $94.4M $141.8M $187.1M $209.4M $212.7M
Gross profit — $31.8M $44.9M $77.5M $116.3M $151.9M $168.3M $169.8M
Net income — -$4.3M -$3.7M -$20.6M -$43.0M -$50.0M -$55.7M -$59.0M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • Material agreement terminated An agreement that mattered has ended. Often the other half of a deal that fell through. Item 1.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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