Treace Medical Concepts, Inc. income statement
In fiscal 2025, Treace Medical Concepts, Inc. reported revenue of $213m, up 1.6% on the year before, operating income of −$54.2m (a -25.5% margin) and net income of −$59.0m, or −$0.93 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.
Income statement
| Fiscal year | 2019Dec 2019 | 2020Dec 2020 | 2021Dec 2021 | 2022Dec 2022 | 2023Dec 2023 | 2024Dec 2024 | 2025Dec 2025 | LTMJun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 39 | 57 | 94 | 142 | 187 | 209 | 213 | 205 |
| Cost of revenue | 8 | 12 | 17 | 26 | 35 | 41 | 43 | 42 |
| Gross profit | 32 | 45 | 78 | 116 | 152 | 168 | 170 | 163 |
| Research and development | 5 | 6 | 10 | 14 | 15 | 21 | 20 | 18 |
| Selling and marketing | 26 | 32 | 65 | 105 | 141 | 148 | 141 | 136 |
| General and administrative | 4 | 7 | 18 | 33 | 47 | 56 | 63 | 62 |
| Operating income | −4 | 1 | −17 | −35 | −51 | −56 | −54 | −54 |
| Interest expense | 1 | 3 | 4 | 4 | 5 | 5 | 5 | 6 |
| Income tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net income | −4 | −4 | −21 | −43 | −50 | −56 | −59 | −60 |
| Diluted EPS | −$0.13 | −$0.12 | −$0.43 | −$0.77 | −$0.81 | −$0.90 | −$0.93 | −$0.93 |
| Diluted shares (average) | 37m | 37m | 48m | 55m | 61m | 62m | 63m | 64m |
| EBITDA | −3 | 2 | −16 | −33 | −46 | −47 | −44 | −46 |
| Quarter | 2024 Q3Sept 2024 | 2024 Q4Dec 2024 | 2025 Q1Mar 2025 | 2025 Q2Jun 2025 | 2025 Q3Sept 2025 | 2025 Q4Dec 2025 | 2026 Q1Mar 2026 | 2026 Q2Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 45 | 69 | 53 | 47 | 50 | 63 | 47 | 45 |
| Cost of revenue | 9 | 13 | 11 | 10 | 11 | 12 | 10 | 10 |
| Gross profit | 36 | 55 | 42 | 38 | 40 | 50 | 37 | 36 |
| Research and development | 5 | 5 | 6 | 5 | 5 | 5 | 5 | 4 |
| Selling and marketing | 33 | 37 | 36 | 33 | 34 | 37 | 34 | 31 |
| General and administrative | 14 | 14 | 16 | 16 | 16 | 15 | 16 | 15 |
| Operating income | −15 | −0 | −16 | −17 | −16 | −6 | −17 | −15 |
| Interest expense | 1 | 1 | 1 | 1 | 1 | 1 | 2 | 2 |
| Net income | −15 | −1 | −16 | −17 | −16 | −9 | −18 | −16 |
| Diluted EPS | −$0.25 | −$0.01 | −$0.25 | −$0.28 | −$0.26 | −$0.14 | −$0.28 | −$0.24 |
| EBITDA | −13 | 2 | −13 | −15 | −13 | −3 | −16 | −13 |
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