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- Treace Medical Concepts Inc (NASDAQ:TMCI) Q4 FY21 sales increased 39% to $33.4 million, beating the consensus of $32.27 million, driven by an increased number of Lapiplasty procedure kits sold and an expanded customer base.
- A gross margin of 81.1% increased 220 basis points from the same period last year, on volume increases without a corresponding rise in certain fixed costs and a higher blended average selling price.
- Fourth-quarter revenue contribution from bunion-focused direct sales channel was 58% of sales, an increase from an average of 39% in Q4 of FY20.
- New interim data from the ALIGN3D study demonstrated continued positive radiographic and patient-reported outcomes at 12- and 24- months following the Lapiplasty procedure.
- A low recurrence rate was also maintained, with 0.9% and 0.0% observed at 12- and 24- months post-surgery, respectively.
- The Company reported a Q4 EPS loss of $(0.12), a shift from the income of $0.05 a year ago.
- Treace Medical held cash & cash equivalents of $105.8 million at the end of 2021.
- Guidance: Treace expects FY22 sales of $125 million - $130 million, +32% - 38% Y/Y, versus the consensus of $124.25 million.
- Price Action: TMCI shares closed 1.31% lower at $20.41 on Thursday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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