Treace Medical Concepts reports 6% Q2 revenue increase and plans new product launches

From Investing.com: 2024-08-07 11:36:25

Treace Medical Concepts Inc. (TMCI) reported a 6% increase in Q2 revenue to $44.5 million, driven by new products like SpeedPlate and Adductoplasty. Facing competitive pressures, the company reaffirmed its full-year revenue guidance of $201 million to $211 million, with plans to launch new osteotomy solutions in Q4 2024 and focus on expanding its product lineup.

Key Takeaways:
– Q2 revenue increased by 6% to $44.5 million
– Full-year 2024 revenue guidance remains at $201 million to $211 million
– Anticipating a 50% improvement in adjusted EBITDA for the full year
– New minimally invasive osteotomy solutions set to launch in Q4 2024

Despite facing challenges from knockoff products and increased operating expenses, Treace Medical is optimistic about expanding its product portfolio and customer base. With new product launches on the horizon, the company aims to capitalize on market opportunities and drive growth in the foot and ankle medical device segment. Investors will be closely monitoring the company’s progress in the coming quarters.



Read more at Investing.com: Treace Medical sees steady growth and plans new products By Investing.com