Treace Medical Q4 Adjusted EBITDA Hits $6.2M on $62.5M Revenue
Treace Medical Concepts posted Q4 revenue of $62.5M and a net loss of $9.4M, or 15 cents per share, while delivering $6.2M of adjusted EBITDA. Full-year revenue rose 2% to $212.7M with a net loss of $59M and cash usage down 46% to $27.3M.
1. Q4 Financial Results
Treace Medical posted fourth-quarter revenue of $62.5 million, a net loss of $9.4 million (15 cents per share) and delivered $6.2 million of adjusted EBITDA, beating consensus loss estimates. Gross margin held at 80.6% while operating expenses rose 1% to $56.3 million.
2. Full-Year Performance
For 2025, revenue increased 2% to $212.7 million and gross margin was 79.8%, while the net loss widened to $59 million, or 93 cents per share. Adjusted EBITDA loss narrowed by 64% to $3.9 million as cash usage declined 46% to $27.3 million.
3. 2026 Outlook and Strategy
The company forecasts 2026 revenue of $200 million to $212 million with an adjusted EBITDA loss of $4 million to $6 million and aims to reduce cash burn by 50%. It plans to drive market share with its 3D bunion correction systems, backed by 135 granted patents, and grow its 3,337 active surgeons.