Treace Medical Concepts Inc · Q2 2021 earnings

Briefing

Reported a 167% increase in revenue compared to the same period last year, with a gross margin of 80.9%.

Treace Medical Concepts reported strong second-quarter results, driven by increased surgeon utilization and customer base expansion. Revenue reached $20.7 million, a 167% increase year-over-year, with a gross margin of 80.9%. The company now expects full-year revenue to range from $90 million to $95 million.

• Revenue of $20.7 million, a 167% increase over the same period last year
• Gross margin of 80.9%, an increase of 780 basis points from the same period last year
• Interim results from ALIGN3D™ clinical study demonstrating positive radiographic and patient-reported outcomes starting at 6 weeks and maintained at 12 months
• The increase was driven by an increased number of Lapiplasty® procedure kits sold and an expanded customer base.

Headline financials

Revenue & EPS history

Treace now expects revenue for the full year 2021 to range from $90 million to $95 million, which represents approximately 57% to 65% growth over the Company’s fiscal year 2020 revenue.