Healthcare · Medical - Devices
Price
$4.46
Market Cap
$289.3M
Employees
432
Beta
1.41
Avg Volume
788,769
CEO
John T. Treace
Business Description
Treace Medical Concepts, Inc., a medical technology company, designs, manufactures, and markets medical devices in the United States. The company offers Lapiplasty System, enables surgeons to correct all three dimensions of the bunion deformity, stabilize the first TMT joint, and allow return to weight-bearing in a walking boot; minimally invasive products for four bunion classes; Nanoplasty 3D Minimally Invasive Bunion Correction System delivers a reproducible 3D correction of the bunion deformity through a cosmetically appealing; and Percuplasty Percutaneous 3D Bunion Correction System that provides 3D correction of the bunion deformity through percutaneous incisions. It also provides Adductoplasty System, a system designed for the correction of metatarsus adductus deformities and osteoarthritis of the midfoot; SpeedMTP Rapid Compression Implant; SpeedPlate Implant Fixation Platform to address the fusion of larger bones of the midfoot and rearfoot; SpeedPlate Micro-Quad implant, an implant designed for stability and fit in small incision surgical approaches; and SpeedAkin Anatomic Compression Implant. In addition, the company offers The IntelliGuide patient specific instrumentation provides patient-specific, 3D-printed cut guides, and a pre-operative plan for a complete picture of the deformity and correction. Further, it provides FastGrafter Autografter Harvesting System; SpeedRelease Guided Release Instrument; TriTome Triple-Edge Release Instrument; RazorTome 7mm Precision Osteotome; LapiTome Hooked Bone Removal Osteotome; GreatRelease Rapid MTP Release Instrument; CornerChisel Release Tool; NanoRasp MIS Bone Contouring Tool; FeatherRasp Rapid Bone Contouring Instrument; and Akinator Single-cut Akin Wedge Osteotomy tool. Additionally, the company offers biologics and wedges, such as Treace Allograft Wedges; and CortiFuse Flowable Cortical Fibers. Treace Medical Concepts, Inc. was founded in 2013 and is headquartered in Ponte Vedra, Florida.
Business History
Price Overview
Last updated: Jun 27, 2026 9:02am (just now)$4.46
+0.01 (+0.22%)
Day Range
$4.39 – $4.78
52-Week Range
$1.17 – $7.78
50-Day MA
$2.91
200-Day MA
$3.33
Volume
7,003,259.00
Analyst Price Targets
Low
$3.00
Consensus
$3.00
High
$3.00
(12 analysts)
Share Structure
Outstanding
64,872,976.00
Float
47,289,156.00
Free Float
72.9%
Normal free float
— 72.9% of shares trade freely, ~27.1% held by insiders/institutions
Healthy float typical of established companies. Good liquidity for entering and exiting positions without major price impact.
Price History (1 Year)
Revenue & Net Income Trend
The directional story — useful even when net income is negative.
Revenue
The top line — total sales before any costs or taxes are subtracted. A measure of how much business the company is doing.
Net Income
The bottom line — profit left after subtracting all expenses, interest, and taxes from revenue. Reflects accounting profitability, but includes non-cash items like depreciation, so it isn't the same as cash earned.
Operating Cash Flow
The real cash generated by the day-to-day business — selling products, paying suppliers, collecting from customers. Calculated from net income by adding back non-cash items and adjusting for timing (unpaid bills, unsold inventory). When OCF consistently lags net income, the reported profit may not be converting to real money.
| Period | Revenue | Net Income | Net Margin | YoY/QoQ |
|---|
Key Metrics
API Direct from provider
CALC Derived from statements
P/E Ratio (Price per dollar of earnings)
CALCStock Price / EPS (Diluted)
-4.80
Stock Price: $4.46
EPS (Diluted): -0.93
EPS (Diluted): -0.93
P/B Ratio (Price vs net asset value)
APIStock Price / Book Value Per Share
1.77
Stock Price: $4.46
Total Equity: $87.33M
Shares: 63,269,003
Total Equity: $87.33M
Shares: 63,269,003
EV/EBITDA (Total value vs operating profit)
APIEnterprise Value / EBITDA
-6.33
Market Cap: $289.33M
Total Debt: $13.98M
Cash: $10.71M
EBITDA: -$43.18M
Total Debt: $13.98M
Cash: $10.71M
EBITDA: -$43.18M
Enterprise Value (Takeover price (cap + debt - cash))
APIMarket Cap + Total Debt - Cash
$158.3M
Market Cap: $289.33M
Total Debt: $13.98M
Cash: $10.71M
Total Debt: $13.98M
Cash: $10.71M
P/S Ratio (Price per dollar of revenue)
APIStock Price / Revenue Per Share
0.73
Stock Price: $4.46
Revenue: $212.69M
Shares: 63,269,003
Revenue: $212.69M
Shares: 63,269,003
EV/Sales (Total value vs revenue — works when P/E can't)
API0.74
Gross Margin (Revenue left after direct costs)
APIGross Profit / Revenue
79.8%
Gross Profit: $169.75M
Revenue: $212.69M
Revenue: $212.69M
Operating Margin (Revenue left after all operations)
APIOperating Income / Revenue
-25.5%
Operating Income: -$54.15M
Revenue: $212.69M
Revenue: $212.69M
Net Margin (Revenue left as actual profit)
APINet Income / Revenue
-27.7%
Net Income: -$59.00M
Revenue: $212.69M
Revenue: $212.69M
ROE (Profit from shareholder equity)
APINet Income / Total Equity
-69.5%
Net Income: -$59.00M
Total Equity: $87.33M
Total Equity: $87.33M
ROIC (Profit from all invested capital)
APINOPAT / Invested Capital
-37.3%
Operating Income: -$54.15M
Tax Rate: 0.0%
Equity: $87.33M
Total Debt: $13.98M
Cash: $10.71M
Tax Rate: 0.0%
Equity: $87.33M
Total Debt: $13.98M
Cash: $10.71M
Current Ratio (Can it pay short-term bills)
APICurrent Assets / Current Liabilities
4.31
Current Assets: $132.05M
Current Liabilities: $30.64M
Current Liabilities: $30.64M
Debt/Equity (Leverage — debt vs equity)
CALCTotal Debt / Total Equity
0.16
Short-Term Debt: $0.00
Long-Term Debt: $13.98M
Total Debt: $13.98M
Total Equity: $87.33M
Long-Term Debt: $13.98M
Total Debt: $13.98M
Total Equity: $87.33M
Rev/Share (Top-line per share)
CALCRevenue / Shares Outstanding
$3.36
Revenue: $212.69M
Shares: 63,269,003
Shares: 63,269,003
Book Value/Share (Net assets per share)
CALC(Total Assets - Total Liabilities) / Shares
$1.38
Total Equity: $87.33M
Shares: 63,269,003
Shares: 63,269,003
FCF/Share (Real cash generated per share)
CALC(Operating Cash Flow + CapEx) / Shares
$-0.47
Operating CF: -$15.97M
CapEx: -$13.52M
Shares: 63,269,003
CapEx: -$13.52M
Shares: 63,269,003
CapEx is negative (outflow) — added to OCF to get FCF
Div Yield (Annual income from holding)
APILast Annual Dividend / Stock Price
0.0%
Last Dividend: N/A
Stock Price: $4.46
Stock Price: $4.46
Payout Ratio (Earnings paid out as dividends)
Dividends Paid / Net Income
—
Dividends Paid: N/A
Net Income: -$59.00M
Net Income: -$59.00M
Dividends paid not available in cash flow statement
Industry Benchmarks
Compares TMCI against LLM-researched typical ranges for its
industry. One research call per industry, cached indefinitely — every stock in the same industry
reuses the same baseline.
Deep Analysis
Pre-flight intelligence scans the company first, then routes to the right analytical methods.
0
Company Classification
— What type of company is this?
1
Industry Landscape
— Where is the industry headed?
2
Company Momentum
— Where is this company trending?
3
Forward Projection
— 1Y & 2Y projected metrics (requires Layer 1 + 2)
4a
DCF Valuation
— Present value of future cash flows
4b
Earnings Power Value
— Floor value — worth with zero growth
4c
Anchored PE
— Industry PE adjusted for growth differential
4d
Reverse DCF
— What growth is the market pricing in?
4e
Revenue-Based DCF
— For growth/narrative companies (skip if mature earner)
4f
Anchored P/S
— Price-to-Sales peer comparison (skip if mature earner)
4g
Scenario Analysis
— Bull / Base / Bear (skip if mature earner)
4h
Dividend Discount Model
— For dividend/income stocks only
4i
Book Value Analysis
— For deep value / turnaround stocks only
4j
Insider Activity
— Are insiders buying or selling?
4f
Cash Flow Quality
— How trustworthy is the FCF?
4g
Debt Maturity Risk
— Can it handle its debt?
4h
Macro Environment
— Rates, market valuation, volatility
4i
Sector Intelligence
— How does this company compare within its sector?
4j
Revenue Confidence
— How reliable is the growth projection?
4k
Sensitivity Analysis
— How fragile is the fair value estimate?
4l
Sector Demand Cycle
— Is the sector in a boom, steady state, or contraction?
5
AI Investigation
— Adaptive research engine (Claude)
5b
Thesis Evaluation
— What does the market believe? (narrative/platform stocks only)
6
Valuation Synthesis
— Weighted verdict from all methods (requires Layer 4)
Income Statement (Annual)
Last updated: Jun 24, 2026 8:15am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $94.4M | $141.8M | $187.1M | $209.4M | $212.7M |
| Cost of Revenue | $16.9M | $27.5M | $35.2M | $41.1M | $42.9M |
| Gross Profit | $77.5M | $114.3M | $151.9M | $168.3M | $169.8M |
| Operating Expenses | $94.0M | $149.2M | $203.4M | $224.0M | $223.9M |
| Operating Income | -$16.5M | -$34.8M | -$51.4M | -$55.7M | -$54.2M |
| Net Income | -$20.6M | -$42.8M | -$49.5M | -$55.7M | -$59.0M |
| EBITDA | -$15.8M | -$36.3M | -$39.0M | -$42.1M | -$43.2M |
| EPS | $-0.38 | $-0.77 | $-0.81 | $-0.90 | $-0.93 |
| EPS (Diluted) | — | — | — | — | — |
Balance Sheet (Annual)
Last updated: Jun 24, 2026 8:15am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Cash & Equivalents | $105.8M | $19.5M | $13.0M | $11.4M | $10.7M |
| Total Current Assets | $138.0M | $133.4M | $198.4M | $161.4M | $132.1M |
| Total Assets | $140.8M | $159.0M | $251.9M | $217.1M | $190.6M |
| Current Liabilities | $18.2M | $30.2M | $45.0M | $34.9M | $30.6M |
| Long-Term Debt | $29.4M | $52.7M | $53.0M | $53.3M | $14.0M |
| Total Liabilities | $47.7M | $98.5M | $114.0M | $104.2M | $103.2M |
| Total Equity | $93.1M | $60.5M | $137.9M | $112.9M | $87.3M |
| Retained Earnings | -$41.9M | -$84.7M | -$134.2M | -$190.0M | -$249.0M |
Cash Flow (Annual)
Last updated: Jun 24, 2026 8:15am (3d ago)| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Operating Cash Flow | -$17.2M | -$30.6M | -$34.6M | -$37.2M | -$16.0M |
| Capital Expenditure | -$2.7M | -$14.8M | -$11.5M | -$11.6M | -$13.5M |
| Free Cash Flow | -$19.9M | -$45.5M | -$46.0M | -$48.8M | -$29.5M |
| Acquisitions (net) | $0 | $61.7M | -$20.0M | $0 | $0 |
| Debt Repayment | — | — | — | — | — |
| Dividends Paid | — | — | — | — | — |
| Stock Buybacks | $0 | $0 | $0 | $0 | $0 |
| Net Change in Cash | $87.8M | -$86.4M | -$6.5M | -$1.6M | $-642,000 |
Analyst Estimates (Annual)
Last updated: Jun 27, 2026 8:33am (28m ago)| Metric | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|
| Revenue |
$212.0M $212.0M – $212.1M
|
$206.3M $206.2M – $206.5M
|
$221.9M $220.5M – $223.3M
|
$237.5M $237.5M – $237.6M
|
| EBITDA |
-$43.9M -$43.9M – -$43.9M
|
-$42.7M -$42.8M – -$42.7M
|
-$46.0M -$46.2M – -$45.7M
|
-$49.2M -$49.2M – -$49.2M
|
| Net Income |
-$59.7M -$60.6M – -$58.7M
|
-$56.2M -$56.3M – -$56.1M
|
-$54.7M -$55.2M – -$50.6M
|
-$48.5M -$61.7M – -$29.8M
|
| EPS | — | — | — | — |
Growth Trends (YoY %)
Last updated: Jun 24, 2026 8:15am (3d ago)| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Revenue Growth | +50.2% | +31.9% | +11.9% | +1.6% |
| Gross Profit Growth | +47.4% | +32.9% | +10.7% | +0.9% |
| Operating Income Growth | -111.0% | -47.6% | -8.3% | +2.8% |
| Net Income Growth | -108.3% | -15.7% | -12.6% | -5.8% |
| EBITDA Growth | -129.5% | -7.5% | -7.8% | -2.6% |
Insider Trading (Recent)
Last updated: Jun 27, 2026 8:33am (28m ago)
Type codes
PPurchase
SSale
AAward / grant
MOption exercise
FIn-kind (tax)
CConversion
GGift
DReturn to issuer
All SEC Form 4 codes
Open market
- P Purchase
- Open-market or private purchase of shares.
- S Sale
- Open-market or private sale of shares.
Compensation (Rule 16b-3)
- A Award / grant
- Grant or award of securities (RSUs, options, etc.) under Rule 16b-3.
- D Return to issuer
- Securities disposed back to the company under Rule 16b-3.
- F In-kind (tax)
- Shares withheld or delivered to pay the option-exercise price or tax — not an open-market sale.
- I Discretionary
- Discretionary transaction under an employee plan — Rule 16b-3(f).
- M Option exercise
- Exercise or conversion of a derivative (option/RSU) into shares — exempt.
Derivatives
- C Conversion
- Conversion of a derivative security into the underlying shares.
- E Short expiration
- Expiration of a short derivative position.
- H Long expiration
- Expiration or cancellation of a long derivative position with value received.
- O OTM exercise
- Exercise of an out-of-the-money derivative.
- X ITM exercise
- Exercise of an in-the-money or at-the-money derivative.
Other exempt
- G Gift
- Bona fide gift of securities.
- L Small acquisition
- Small acquisition under Rule 16a-6.
- W Inheritance
- Acquisition or disposition by will or the laws of descent.
- Z Voting trust
- Deposit into or withdrawal from a voting trust.
Other
- J Other
- Other acquisition or disposition (explained in a Form 4 footnote).
- K Equity swap
- Transaction in an equity swap or similar instrument.
- U Tender / buyout
- Disposition via tender of shares in a change-of-control transaction.
Compensation-plan codes (A, D, F, M) are routine and rarely directional. Open-market P (buy) and S (sale) carry the most signal.
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-11 | Treace John T. | P-Purchase | 9,891.00 | $4.04 | $39,982 |
| 2026-06-10 | Treace John T. | P-Purchase | 14,715.00 | $4.02 | $59,213 |
| 2026-06-11 | Treace John T. | P-Purchase | 22,887.00 | $4.04 | $92,541 |
| 2026-06-10 | Treace John T. | P-Purchase | 29,430.00 | $4.02 | $118,426 |
| 2026-06-01 | Treace John T. | P-Purchase | 50,000.00 | $3.56 | $177,915 |
| 2026-05-28 | Treace John T. | P-Purchase | 61,202.00 | $3.02 | $184,824 |
| 2026-05-27 | Treace John T. | P-Purchase | 49,810.00 | $2.87 | $143,189 |
| 2026-05-26 | Treace John T. | P-Purchase | 4,508.00 | $2.79 | $12,576 |
| 2026-05-19 | BAKEWELL JOHN K | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-19 | Kiernan Jane E | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-19 | Berry Lance A | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-19 | Jain Deepti | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-19 | HAMILTON LAWRENCE W | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-19 | Hanna Betsy | A-Award | 30,000.00 | $0.00 | $0 |
| 2026-05-14 | Treace John T. | P-Purchase | 61,750.00 | $2.62 | $161,495 |
| 2026-05-13 | Treace John T. | P-Purchase | 49,013.00 | $2.46 | $120,533 |
| 2026-05-12 | Treace John T. | P-Purchase | 43,000.00 | $2.17 | $93,478 |
| 2026-04-17 | Hair Mark | F-InKind | 11,547.00 | $0.00 | $0 |
| 2026-04-01 | Hair Mark | A-Award | 100,000.00 | $0.00 | $0 |
| 2026-03-08 | Elder Scot Michael | F-InKind | 175.00 | $0.00 | $0 |
Narrative Economics
The story the market is telling about this stock — the intangible X-factor
(founder mythology, cult dynamics, TAM-of-imagination) that moves price beyond
what cash flows alone explain. After Shiller, Narrative Economics.
No narrative profile yet for TMCI — it's generated by the pipeline (
market-narrative step).
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My Notes
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Data via Financial Modeling Prep · Cached for performance · fmp
v1.1.352 · d1100787 · 2026-06-26 11:39:30