The following is a summary of the Treace Medical Concepts, Inc. (TMCI) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Treace Medical Concepts reported Q3 2024 revenue of $45.1 million, reflecting an 11% increase year-over-year.

• Gross margin remained strong at 80.1%, nearly unchanged from the previous year.

• The company revised its full-year 2024 revenue guidance to $204 million to $211 million, reflecting a 9% to 13% increase over the previous year.

• Despite the overall net loss, adjusted EBITDA improved significantly, showing a 45% improvement compared to Q3 2023.

Business Progress:

• Launched the Nanoplasty 3D MIS system, marking an entry into the large metatarsal osteotomy market.

• Continued expansion in the bunion market with the introduction of the Nanoplasty system, expected to capture more of the bunion sector.

• Full availability of Micro-Lapiplasty and ongoing rollout of IntelliGuide and mini Adductoplasty systems.

• Expects several new product launches in the upcoming year, contributing to an expanded portfolio.

Opportunities:

• The revision in Medicare payment rates by CMS for 2025 could encourage more procedures using Treace's systems, potentially increasing market penetration.

Risks:

• The company is navigating a competitive market with significant investments in new products which require approval and adoption by surgeons.

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