Treace Medical Concepts, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 09, 2023 at 04:14 pm EST
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Treace Medical Concepts, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 40.76 million compared to USD 33.06 million a year ago. Net loss was USD 17.52 million compared to USD 12.13 million a year ago. Basic loss per share from continuing operations was USD 0.28 compared to USD 0.22 a year ago.
For the nine months, sales was USD 124.91 million compared to USD 92.07 million a year ago. Net loss was USD 43.25 million compared to USD 38.4 million a year ago. Basic loss per share from continuing operations was USD 0.71 compared to USD 0.7 a year ago.
Treace Medical Concepts, Inc. is a medical technology company. The Company is focused on advancing the standard of care for the surgical management of bunion and related midfoot deformities. It has 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. It also has Adductoplasty Midfoot Correction System, designed for reproducible surgical correction of the midfoot as well as its Hammertoe PEEK Fixation System designed to address hammertoe, claw toe and mallet toe deformities. The Lapiplasty, Adductoplasty and Hammertoe PEEK Fixation Systems are comprised of single-use implant kits and reusable instrument trays. The Company sells these products to physicians, surgeons, hospitals and ambulatory surgery centers in the United States.