Treace Medical Concepts (NASDAQ:TMCI) Issues Quarterly Earnings Results

Treace Medical Concepts (NASDAQ:TMCI) announced its earnings results on Friday. The company reported ($0.15) EPS for the quarter, hitting analysts’ consensus estimates of ($0.15), FiscalAI reports. Treace Medical Concepts had a negative net margin of 22.89% and a negative return on equity of 49.49%. The business had revenue of $62.52 million during the quarter, compared to the consensus estimate of $61.76 million.

Here are the key takeaways from Treace Medical Concepts’ conference call:

• Company transformed into a full “bunion solutions” provider, launching three new systems in 2025 that broaden offerings across all deformity categories and have already been adopted by over 25% of its 3,300 surgeon base in just two quarters.
• 2026 guidance is conservative
• Profitability and cash burn improved materially in 2025 (Adjusted EBITDA loss narrowed to $3.9M; cash used $27.3M vs. $50.5M in 2024), the company ended the year with $48.4M cash and a $115M credit facility, and expects ~50% lower cash burn in 2026.
• Multiple 2026 product launches (Lapiplasty Lightning, SpeedTMT, SuperBite screws, SpeedXM) are expected to expand TAM by an estimated $300M, add higher‑ASP procedure options, and give the salesforce new adjacency opportunities to grow wallet share.
• Market headwinds and mix shift pressured 2025 revenue (Q4 revenue $62.5M, down 9% YoY, driven by a shift to lower‑priced products and softer elective volumes), but company points to accelerating procedure volumes in H2 2025, strong surgeon interest at ACFAS, and robust training demand as early signs of recovery potential.

Treace Medical Concepts Stock Performance

TMCI traded down $0.27 on Friday, reaching $1.83. 985,385 shares of the stock were exchanged, compared to its average volume of 675,856. The company’s 50-day moving average price is $2.37 and its 200 day moving average price is $4.46. The company has a debt-to-equity ratio of 0.60, a current ratio of 3.37 and a quick ratio of 2.36. The firm has a market capitalization of $116.80 million, a PE ratio of -2.29 and a beta of 0.74. Treace Medical Concepts has a fifty-two week low of $1.81 and a fifty-two week high of $9.56.

Analyst Ratings Changes

Several research analysts recently commented on TMCI shares. Stifel Nicolaus reduced their price objective on shares of Treace Medical Concepts from $5.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, January 7th. UBS Group reduced their price target on Treace Medical Concepts from $6.50 to $5.85 and set a “neutral” rating on the stock in a research report on Friday, November 7th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $5.00 price objective (down from $8.00) on shares of Treace Medical Concepts in a report on Friday, November 7th. Wall Street Zen raised Treace Medical Concepts from a “sell” rating to a “hold” rating in a research report on Monday. Finally, BTIG Research reiterated a “neutral” rating on shares of Treace Medical Concepts in a research note on Friday, November 7th. Four research analysts have rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $4.21.

Hedge Funds Weigh In On Treace Medical Concepts

Several hedge funds and other institutional investors have recently bought and sold shares of TMCI. Armistice Capital LLC boosted its holdings in shares of Treace Medical Concepts by 0.9% in the 3rd quarter. Armistice Capital LLC now owns 6,316,000 shares of the company’s stock valued at $42,380,000 after acquiring an additional 56,000 shares during the last quarter. Millennium Management LLC boosted its holdings in Treace Medical Concepts by 12.7% in the third quarter. Millennium Management LLC now owns 1,710,140 shares of the company’s stock valued at $11,475,000 after purchasing an additional 192,929 shares during the last quarter. Parkman Healthcare Partners LLC raised its stake in shares of Treace Medical Concepts by 0.4% during the 3rd quarter. Parkman Healthcare Partners LLC now owns 847,675 shares of the company’s stock valued at $5,688,000 after buying an additional 3,677 shares during the last quarter. Kotler Kevin acquired a new position in shares of Treace Medical Concepts in the 4th quarter valued at about $1,162,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Treace Medical Concepts by 11.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 273,376 shares of the company’s stock worth $670,000 after buying an additional 28,912 shares during the last quarter. Institutional investors and hedge funds own 84.08% of the company’s stock.

About Treace Medical Concepts

Treace Medical Concepts, Inc is a medical technology company specializing in the development and commercialization of innovative surgical solutions for foot and ankle conditions. The company’s flagship product, the Lapiplasty 3D Bunion Correction System, addresses the underlying joint instability that causes bunion deformity through a patented, multi-plane correction approach. The system combines proprietary instrumentation, fixation plates, and a comprehensive surgical protocol designed to improve patient outcomes and reduce recurrence rates.

The Lapiplasty System has received clearance from the U.S.