Treace Medical Posts 10% Drop to $47.2M Q1 Revenue and Launches SuperBite System
TMCI•Treace Medical Concepts posted Q1 revenue of $47.2 million, a 10% decrease year-over-year, with a net loss of $18.0 million and adjusted EBITDA negative $5.5 million. Cash and equivalents rose $3.5 million to $51.9 million, and the company launched its SuperBite Compression Screw System in limited commercial release.
1. First Quarter Financial Results
Revenue for Q1 2026 was $47.2 million, down 10% from $52.6 million a year earlier, while net loss widened to $18.0 million, or $0.28 per share, and adjusted EBITDA loss increased to $5.5 million. Gross margin remained high at 79.3% and operating expenses fell by $2.9 million year-over-year to $54.6 million.
2. Liquidity and Product Launch
Cash, cash equivalents and marketable securities rose by $3.5 million to $51.9 million as of March 31, 2026, supported by an undrawn $115 million credit facility. Treace initiated a limited commercial release of its SuperBite Compression Screw System and expanded its patent portfolio to over 130 granted patents and 200 pending applications.
3. Reaffirmed Full-Year Guidance
The company reaffirmed 2026 revenue guidance of $202 million to $212 million, reflecting a 5% decline to flat growth, and expects an adjusted EBITDA loss of $4 million to $6 million with a targeted 50% reduction in cash usage versus 2025. Management continues to focus on case volume growth and broader product adoption throughout the year.
