$TMCI

TREACE MEDICAL CONCEPTS, INC.

CIK:0001630627|SEC Filings

Condensed Statements of Operations and Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 45,376	$ 47,387	$ 92,574	$ 99,957
Cost of goods sold	9,769	9,635	19,560	20,312
Gross profit	35,607	37,752	73,014	79,645
Operating expenses
Sales and marketing	30,940	33,084	64,715	69,206
Research and development	4,376	5,498	8,998	11,060
General and administrative	15,249	16,144	31,426	31,935
Total operating expenses	50,565	54,726	105,139	112,201
Loss from operations	(14,958)	(16,974)	(32,125)	(32,556)
Interest income	445	775	946	1,616
Interest expense	(1,562)	(1,321)	(3,132)	(2,632)
Other income, net	202	122	477	252
Other non-operating income (expense), net	(915)	(424)	(1,709)	(764)
Net loss	(15,873)	(17,398)	(33,834)	(33,320)
Unrealized gain (loss) on marketable securities	(26)	(7)	(124)	(47)
Comprehensive loss	$ (15,899)	$ (17,405)	$ (33,958)	$ (33,367)
Net loss per share, basic	$ (0.24)	$ (0.28)	$ (0.52)	$ (0.53)
Net loss per share, diluted	$ (0.24)	$ (0.28)	$ (0.52)	$ (0.53)
Weighted-average shares used in computing net loss per share, basic	65,049,844	63,006,891	64,822,526	62,843,337
Weighted-average shares used in computing net loss per share, diluted	65,049,844	63,006,891	64,822,526	62,843,337

Condensed Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net loss	$ (33,834)	$ (33,320)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization expense	2,787	5,037
Provision for allowance for credit losses	243	581
Share-based compensation expense	14,497	18,270
Non-cash lease expense	1,103	1,133
Amortization of debt issuance costs	505	148
Amortization (accretion) of premium (discount) on marketable securities, net	11	(114)
Other, net	1,383	219
Net changes in operating assets and liabilities, net of acquisitions:
Accounts receivable	13,180	9,985
Inventory	(3,511)	(3,142)
Prepaid expenses and other assets	(1,060)	84
Other non-current assets	(320)	(365)
Operating lease liabilities	(1,683)	(1,553)
Accounts payable	9,335	9,437
Accrued liabilities	(372)	(5,309)
Other, net	278	57
Net cash provided by (used in) operating activities	2,542	1,148
Cash flows from investing activities
Purchases of available-for-sale marketable securities	(18,669)	(30,249)
Sales and maturities of available-for-sale marketable securities	23,184	33,408
Purchases of property and equipment	(5,263)	(8,310)
Net cash provided by (used in) investing activities	(748)	(5,151)
Cash flows from financing activities
Proceeds from insurance premium financing	983	983
Debt issuance costs	(6)	0
Payments on insurance premium financing	(735)	(98)
Proceeds from exercise of employee stock options	99	235
Taxes from withheld shares	(233)	(415)
Net cash provided by (used in) financing activities	108	705
Net increase (decrease) in cash and cash equivalents	1,902	(3,298)
Cash and cash equivalents at beginning of period	10,708	11,350
Cash and cash equivalents at end of period	12,610	8,052
Supplemental disclosure of cash flow information:
Cash paid for interest	2,193	2,495
Noncash investing activities:
Unrealized (gains) losses, net on marketable securities	124	47
Noncash financing activities
Legal cost financing	$ 1,176	$ 228

Condensed Balance Sheets (unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 12,610	$ 10,708
Marketable securities, short-term	33,009	37,659
Accounts receivable, net of allowance for credit losses of $1,597 and $1,824 as of June 30, 2026 and December 31, 2025 respectively	28,732	42,155
Inventories	39,542	36,031
Prepaid expenses and other current assets	6,561	5,501
Total current assets	120,454	132,054
Property and equipment, net	32,496	29,752
Intangible assets, net of accumulated amortization of $2,850 and $2,375 as of June 30, 2026 and December 31, 2025, respectively	6,650	7,125
Goodwill	12,815	12,815
Operating lease right-of-use assets	7,139	7,614
Other non-current assets, net of allowance for credit losses of $35 and $69 as of June 30, 2026 and December 31, 2025, respectively	1,501	1,221
Total assets	181,055	190,581
Current liabilities
Accounts payable	16,061	6,726
Accrued liabilities	6,281	5,784
Accrued commissions	6,740	9,365
Accrued compensation	8,087	6,331
Other liabilities	4,327	2,429
Total current liabilities	41,496	30,635
Long-term debt, net	56,042	55,583
Operating lease liabilities, net of current portion	13,091	13,982
Other long-term liabilities	2,689	3,049
Total liabilities	113,318	103,249
Commitments and contingencies (Note 7)
Stockholders’ equity
Preferred stock, $0.001 par value, 5,000,000 shares authorized as of June 30, 2026 and December 31, 2025; 0 shares issued as of June 30, 2026 and December 31, 2025	0	0
Common stock, $0.001 par value, 300,000,000 shares authorized; 65,236,297 and 64,029,378 shares issued as of June 30, 2026 and December 31, 2025, respectively	65	64
Additional paid-in capital	351,966	337,371
Accumulated deficit	(282,826)	(248,992)
Accumulated other comprehensive income (loss)	(52)	72
Treasury stock, at cost; 259,673 and 165,513 shares as of June 30, 2026 and December 31, 2025, respectively	(1,416)	(1,183)
Total stockholders’ equity	67,737	87,332
Total liabilities and stockholders’ equity	$ 181,055	$ 190,581