Overview
Compare with SI-Bone (United States), CERUS CORP or ORTHOPEDIATRICS CORP, or pick any stock.
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
79.8%Gross margin3
-25.5%Operating margin3
-27.7%Net margin3
1.6%Revenue growth, 20253
-67.6%Return on equity3
0.64×Debt to equity3
-$29.5MFree cash flow3
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue20¢$42.9M
- Research and development10¢$20.3M
- Other costs68¢$144.2M
- Interest3¢$5.3M
Out of $212.7M in revenue.3 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Revenue | $212.7M | $209.4M | $187.1M |
| Cost of goods sold | $42.9M | $41.1M | $35.2M |
| Gross profit | $169.8M | $168.3M | $151.9M |
| Sales and marketing | $140.9M | $147.6M | $140.9M |
| Research and development | $20.3M | $20.6M | $15.4M |
| General and administrative | $62.7M | $55.7M | $47.0M |
| Total operating expenses | $223.9M | $224.0M | $203.4M |
| Loss from operations | -$54.2M | -$55.7M | -$51.4M |
| Interest income | $2.8M | $4.9M | $6.7M |
| Interest expense | -$5.3M | -$5.3M | -$5.2M |
| Debt extinguishment loss | -$2.7M | $0 | $0 |
| Other income, net | $432.0K | $324.0K | $342.0K |
| Other non-operating income (expense), net | -$4.8M | -$55.0K | $1.9M |
| Net loss | -$59.0M | -$55.7M | -$49.5M |
| Unrealized gain (loss) on marketable securities | -$25.0K | -$66.0K | $190.0K |
| Comprehensive loss | -$59.0M | -$55.8M | -$49.3M |
| Net loss per share, basic | -$0.93 | -$0.90 | -$0.81 |
| Net loss per share, diluted | -$0.93 | -$0.90 | -$0.81 |
| Weighted-average shares used in computing net loss per share, basic | 63.3M shares | 62.1M shares | 60.9M shares |
| Weighted-average shares used in computing net loss per share, diluted | 63.3M shares | 62.1M shares | 60.9M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 5 fiscal years (annual) or 5 quarters (quarterly), latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-04-30 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $10.7M | $11.3M | |||
| Marketable securities, short-term | $37.7M | $64.3M | |||
| Accounts receivable, net of allowance for credit losses of $1,824 and $1,326 as of December 31, 2025 and December 31, 2024, respectively | $42.2M | $40.8M | $38.1M | ||
| Inventories | $36.0M | $39.3M | |||
| Prepaid expenses and other current assets | $5.5M | $5.7M | |||
| Total current assets | $132.1M | $161.4M | |||
| Property and equipment, net | $29.8M | $26.0M | |||
| IIntangible assets, net of accumulated amortization of $2,375 and $1,425 as of December 31, 2025 and December 31, 2024, respectively | $7.1M | $8.1M | |||
| Goodwill | $12.8M | $12.8M | |||
| Operating lease right-of-use assets | $7.6M | $8.4M | |||
| Other non-current assets, net of allowance for credit losses of $69 and $69 as of December 31, 2025 and December 31, 2024, respectively | $1.2M | $407.0K | |||
| Total assets | $190.6M | $217.1M | |||
| Accounts payable | $6.7M | $10.5M | |||
| Accrued liabilities | $5.8M | $7.2M | |||
| Accrued commissions | $9.4M | $10.1M | |||
| Accrued compensation | $6.3M | $6.6M | |||
| Other liabilities | $2.4M | $510.0K | |||
| Total current liabilities | $30.6M | $34.9M | |||
| Long-term debt, net | $55.6M | $53.3M | |||
| Operating lease liabilities, net of current portion | $14.0M | $15.9M | |||
| Other long-term liabilities | $3.0M | $37.0K | |||
| Total liabilities | $103.2M | $104.2M | |||
| Preferred stock, $0.001 par value, 5,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 0 shares issued as of December 31, 2025 and December 31, 2024 | $0 | $0 | |||
| Common stock, $0.001 par value, 300,000,000 shares authorized; 64,029,378 and 62,385,101 shares issued as of December 31, 2025 and December 31, 2024, respectively | $64.0K | $62.0K | |||
| Additional paid-in capital | $337.4M | $303.0M | |||
| Accumulated deficit | -$249.0M | -$190.0M | |||
| Accumulated other comprehensive income (loss) | $72.0K | $97.0K | |||
| Treasury stock, at cost; 165,513 and 23,391 shares as of December 31, 2025 and December 31, 2024, respectively | -$1.2M | -$281.0K | |||
| Total stockholders equity | $87.3M | $112.9M | $137.9M | $60.5M | |
| Total liabilities and stockholders equity | $190.6M | $217.1M | |||
| Allowance for credit losses current | $1.8M | $1.3M | |||
| Intangible assets, accumulated amortization | $2.4M | $1.4M | |||
| Allowance for credit losses noncurrent | $69.0K | $69.0K | |||
| Preferred stock, par or stated value per share | $0.00 | $0.00 | |||
| Preferred stock shares authorized | 5.0M shares | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | |||
| Common stock, par or stated value per share | $0.00 | $0.00 | |||
| Common stock shares authorized | 300.0M shares | 300.0M shares | 300.0M shares | ||
| Common stock share issued | 64.0M shares | 62.4M shares | |||
| Treasury stock (in shares) | 165.5K shares | 23.4K shares |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-04-30 |
|---|---|---|---|---|---|
| Cash and cash equivalents | $10.7M | $11.3M | |||
| Marketable securities, short-term | $37.7M | $64.3M | |||
| Accounts receivable, net of allowance for credit losses of $1,824 and $1,326 as of December 31, 2025 and December 31, 2024, respectively | $42.2M | $40.8M | $38.1M | ||
| Inventories | $36.0M | $39.3M | |||
| Prepaid expenses and other current assets | $5.5M | $5.7M | |||
| Total current assets | $132.1M | $161.4M | |||
| Property and equipment, net | $29.8M | $26.0M | |||
| IIntangible assets, net of accumulated amortization of $2,375 and $1,425 as of December 31, 2025 and December 31, 2024, respectively | $7.1M | $8.1M | |||
| Goodwill | $12.8M | $12.8M | |||
| Operating lease right-of-use assets | $7.6M | $8.4M | |||
| Other non-current assets, net of allowance for credit losses of $69 and $69 as of December 31, 2025 and December 31, 2024, respectively | $1.2M | $407.0K | |||
| Total assets | $190.6M | $217.1M | |||
| Accounts payable | $6.7M | $10.5M | |||
| Accrued liabilities | $5.8M | $7.2M | |||
| Accrued commissions | $9.4M | $10.1M | |||
| Accrued compensation | $6.3M | $6.6M | |||
| Other liabilities | $2.4M | $510.0K | |||
| Total current liabilities | $30.6M | $34.9M | |||
| Long-term debt, net | $55.6M | $53.3M | |||
| Operating lease liabilities, net of current portion | $14.0M | $15.9M | |||
| Other long-term liabilities | $3.0M | $37.0K | |||
| Total liabilities | $103.2M | $104.2M | |||
| Preferred stock, $0.001 par value, 5,000,000 shares authorized as of December 31, 2025 and December 31, 2024; 0 shares issued as of December 31, 2025 and December 31, 2024 | $0 | $0 | |||
| Common stock, $0.001 par value, 300,000,000 shares authorized; 64,029,378 and 62,385,101 shares issued as of December 31, 2025 and December 31, 2024, respectively | $64.0K | $62.0K | |||
| Additional paid-in capital | $337.4M | $303.0M | |||
| Accumulated deficit | -$249.0M | -$190.0M | |||
| Accumulated other comprehensive income (loss) | $72.0K | $97.0K | |||
| Treasury stock, at cost; 165,513 and 23,391 shares as of December 31, 2025 and December 31, 2024, respectively | -$1.2M | -$281.0K | |||
| Total stockholders equity | $87.3M | $112.9M | $137.9M | $60.5M | |
| Total liabilities and stockholders equity | $190.6M | $217.1M | |||
| Allowance for credit losses current | $1.8M | $1.3M | |||
| Intangible assets, accumulated amortization | $2.4M | $1.4M | |||
| Allowance for credit losses noncurrent | $69.0K | $69.0K | |||
| Preferred stock, par or stated value per share | $0.00 | $0.00 | |||
| Preferred stock shares authorized | 5.0M shares | 5.0M shares | 5.0M shares | ||
| Preferred stock, shares issued | 0 shares | 0 shares | |||
| Common stock, par or stated value per share | $0.00 | $0.00 | |||
| Common stock shares authorized | 300.0M shares | 300.0M shares | 300.0M shares | ||
| Common stock share issued | 64.0M shares | 62.4M shares | |||
| Treasury stock (in shares) | 165.5K shares | 23.4K shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.3
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net loss | -$59.0M | -$55.7M | -$49.5M |
| Depreciation and amortization expense | $10.6M | $8.4M | $5.4M |
| Provision for allowance for credit losses | $834.0K | $2.9M | $434.0K |
| Share-based compensation expense | $33.8M | $30.6M | $17.4M |
| Non-cash lease expense | $2.2M | $2.3M | $2.5M |
| Amortization of debt issuance costs | $292.0K | $298.0K | $297.0K |
| Debt extinguishment loss | $2.7M | $0 | $0 |
| Amortization (accretion) of premium (discount) on marketable securities, net | -$123.0K | -$1.1M | -$1.4M |
| Other, net | $1.2M | $538.0K | $205.0K |
| Accounts receivable | -$2.1M | -$5.7M | -$9.3M |
| Inventory | $3.2M | -$10.0M | -$9.8M |
| Prepaid expenses and other assets | $166.0K | $2.2M | -$1.2M |
| Other non-current assets | -$503.0K | -$330.0K | $0 |
| Operating lease liabilities | -$3.2M | -$2.5M | -$119.0K |
| Accounts payable | -$3.8M | -$1.3M | $3.2M |
| Accrued liabilities | -$2.4M | -$7.9M | $7.5M |
| Other, net | $35.0K | $97.0K | $40.0K |
| Net cash provided by (used in) operating activities | -$16.0M | -$37.2M | -$34.6M |
| Purchases of available-for-sale marketable securities | -$40.6M | -$71.6M | -$169.9M |
| Sales and maturities of available-for-sale marketable securities | $67.3M | $118.5M | $120.0M |
| Purchases of property and equipment | -$13.5M | -$11.6M | -$11.5M |
| Acquisition, net of cash acquired | $0 | $0 | -$20.0M |
| Net cash provided by (used in) investing activities | $13.3M | $35.4M | -$81.3M |
| Proceeds from interest bearing term debt | $59.3M | $0 | $0 |
| Proceeds from insurance premium financing | $1.6M | $0 | $0 |
| Debt issuance costs | -$1.2M | $0 | $0 |
| Payments on interest bearing term and revolving debt | -$56.3M | $0 | $0 |
| Payments on insurance premium financing | -$916.0K | $0 | $0 |
| Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million | $0 | $0 | $107.5M |
| Proceeds from exercise of employee stock options | $546.0K | $428.0K | $1.9M |
| Taxes from withheld shares | -$902.0K | -$268.0K | -$13.0K |
| Net cash provided by (used in) financing activities | $2.1M | $160.0K | $109.4M |
| Net increase (decrease) in cash and cash equivalents | -$642.0K | -$1.6M | -$6.5M |
| Cash paid for interest | $5.0M | $5.0M | $5.2M |
| Operating lease right-of-use asset and lease liability adjustment due to lease incentive | $0 | $8.0K | -$22.0K |
| Unrealized (gains) losses, net on marketable securities | $25.0K | $66.0K | -$190.0K |
| Unsettled matured marketable security and receivable from broker | $0 | $0 | $3.0M |
| Noncash portion of internally developed software | $0 | $0 | -$11.0K |
| Legal cost financing | $1.1M | $0 | $0 |
| Issuance costs and underwriting fees, net | $7.5M | $7.5M | $7.5M |
No quarter-by-quarter statement was filed.
Corporate structure
TREACE MEDICAL CONCEPTS, INC. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of TREACE MEDICAL CONCEPTS, INC.
- ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Aug 14, 2026 (8 filings since Nov 14, 2024)
- John T. Treace Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Aug 12, 2026 (5 filings since Feb 11, 2022)
- BlackRock Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Jul 30, 2026 (2 filings since Jan 29, 2024)
- Bank of America Filed SCHEDULE 13G on TREACE MEDICAL CONCEPTS, INC., latest May 14, 2026
- GAGNON SECURITIES LLC Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Feb 12, 2026 (2 filings since May 15, 2025)
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Feb 9, 2026 (2 filings since Nov 12, 2025)
- Morgan Stanley Filed SCHEDULE 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Feb 3, 2025 (2 filings since Nov 8, 2024)
- VANGUARD GROUP INC Filed SC 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Nov 12, 2024 (4 filings since Feb 9, 2023)
- AllianceBernstein Filed SC 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Feb 14, 2024 (2 filings since Feb 14, 2023)
- John R. Treace Filed SC 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Feb 13, 2023 (2 filings since Feb 11, 2022)
- CIBC Private Wealth Group LLC Filed SC 13G/A on TREACE MEDICAL CONCEPTS, INC., latest Mar 22, 2022 (2 filings since Jan 7, 2022)
- TREACE MEDICAL CONCEPTS, INC. Ponte Vedra, Florida
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What TREACE MEDICAL CONCEPTS, INC. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $53.6M3 Dec 31, 2025 | $41.3M3 Dec 31, 2024 | +30.0% |
| Accumulated depreciation | $23.9M3 Dec 31, 2025 | $15.3M3 Dec 31, 2024 | +56.0% |
| Property and equipment, net | $29.8M3 Dec 31, 2025 | $26.0M3 Dec 31, 2024 | +14.6% |
| Operating-lease assets (leased space) | $7.6M3 Dec 31, 2025 | $8.4M3 Dec 31, 2024 | −9.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $10.7M3 Dec 31, 2025 | $11.3M3 Dec 31, 2024 | −5.7% |
| Marketable securities, current | $37.7M3 Dec 31, 2025 | $64.3M3 Dec 31, 2024 | −41.5% |
| Debt securities available for sale | $37.7M3 Dec 31, 2025 | $64.3M3 Dec 31, 2024 | −41.5% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $12.8M3 Dec 31, 2025 | $12.8M3 Dec 31, 2024 | 0% |
| Intangible assets, net (excluding goodwill) | $7.1M3 Dec 31, 2025 | $8.1M3 Dec 31, 2024 | −11.8% |
| Accumulated amortization | $2.4M3 Dec 31, 2025 | $1.4M3 Dec 31, 2024 | +66.7% |
Inventory
Properties, in its own words
As of December 31, 2025, we leased approximately 125,000 square feet for our corporate headquarters located in Ponte Vedra, Florida under a lease agreement which terminates in July 2032. We believe that this facility is sufficient to meet our current and anticipated needs in the future and that additional space can be obtained on commercially reasonable terms as needed. We currently have several subleases related to our previous and current corporate headquarters locations.
Item 2 of the 10-K filed Feb 27, 2026.10
Leadership
Who has led TREACE MEDICAL CONCEPTS, INC., and when. Pick a name to see everywhere that person has worked.
- Chief executive officerJohn T. Treace Apr 22, 2021 to now11
- Chief financial officerMark Hair Apr 22, 2021 to now12
Board members and other officers (20)
- Chief Commercial OfficerGuy Guglielmino Dec 5, 2024 to now13
- Chief Compliance OfficerScot Michael Elder Mar 14, 2022 to now14
- Chief HR OfficerDaniel E. Owens Apr 22, 2021 to Dec 2, 202215
- SVP, SalesDipak Rajhansa Apr 22, 2021 to Apr 26, 202116
- OfficerJaime A. Frias Apr 22, 2021 to Apr 29, 202117
- SVP, Research & DevelopmentJoe W. Ferguson Apr 22, 2021 to Oct 8, 202118
- OfficerSean F. Scanlan Apr 22, 2021 to now19
- SVP, SalesAaron Berutti Aug 5, 2021 to now20
- SVP, OperationsTerry W. Lubben Sep 21, 2021 to Mar 10, 202221
- Board memberJane E. Kiernan Oct 4, 2022 to now22
- Board memberLance A. Berry Oct 4, 2022 to now23
- Board memberF. Barry Bays Apr 22, 2021 to Apr 28, 202324
- Board memberJames T. Treace Apr 22, 2021 to Aug 19, 202425
- Board memberJohn R. Treace Apr 22, 2021 to May 11, 202226
- Board memberJohn T. Treace Apr 22, 2021 to now11
- Board memberRichard W. Mott Apr 22, 2021 to now27
- Board memberThomas E. Timbie Apr 22, 2021 to Mar 17, 202328
- Board memberBetsy Hanna Oct 4, 2021 to now29
- Board memberDeepti Jain Oct 4, 2021 to now30
- General counselJaime A. Frias Mar 10, 2022 to Mar 10, 202231
Timeline
- Aug 7, 20268-K Results of operations32
- May 20, 20268-K Shareholder vote33
- May 8, 20268-K Results of operations34
- Apr 9, 20268-K Results of operations; Executive or director change; Regulation FD disclosure35
- Feb 27, 20268-K Results of operations36
- Jan 13, 20268-K Results of operations; Regulation FD disclosure37
- Dec 18, 20258-K Entered a material agreement; Ended a material agreement; New debt or obligation38
- Nov 6, 20258-K Results of operations; Executive or director change39
- Aug 7, 20258-K Results of operations40
- May 21, 20258-K Shareholder vote41
- May 8, 20258-K Results of operations42
- Apr 7, 20258-K Executive or director change43
- Apr 22, 2021New chief executive John T. Treace becomes CEO11
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($0.26) a share, on Nov 6, 2025.44
When it reported results
- Aug 7, 2026Reported quarterly or annual results32
- May 8, 2026Reported quarterly or annual results34
- Apr 9, 2026Reported quarterly or annual results35
- Feb 27, 2026Reported quarterly or annual results36
- Jan 13, 2026Reported quarterly or annual results37
- Nov 6, 2025Reported quarterly or annual results39
- Aug 7, 2025Reported quarterly or annual results40
- May 8, 2025Reported quarterly or annual results42
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
376 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 44 major events, 251 insider forms, 32 large holders, 29 other. The latest 20:
- Oct 2, 20264 EDGAR
- Aug 24, 20264 EDGAR
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 20264 EDGAR
- Aug 12, 2026SCHEDULE 13G/A EDGAR
- Aug 12, 20264 EDGAR
- Aug 12, 20264 EDGAR
- Aug 7, 202610-Q EDGAR
- Aug 7, 20268-K EDGAR
- Jul 30, 2026SCHEDULE 13G/A EDGAR
- Jun 12, 20264/A EDGAR
- Jun 11, 20264 EDGAR
- Jun 1, 20264 EDGAR
- May 28, 20264 EDGAR
- May 20, 20268-K EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
- May 19, 20264 EDGAR
The 376 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
197 open-market trades by officers, directors and large owners since October 2021: 45 buys and 152 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Aug 24, 2026 | Treace John T.Chief Executive Officer | Buy | 11,000 | $4.34 | $47.7K | Form 4 |
| Aug 21, 2026 | Treace John T.Chief Executive Officer | Buy | 5,000 | $4.35 | $21.8K | Form 4 |
| Aug 20, 2026 | Treace John T.Chief Executive Officer | Buy | 39,944 | $4.44 | $177.4K | Form 4 |
| Jun 11, 2026 | Treace John T.Chief Executive Officer | Buy | 9,891 | $4.04 | $40.0K | Form 4 |
| Jun 11, 2026 | Treace John T.Chief Executive Officer | Buy | 22,887 | $4.04 | $92.5K | Form 4 |
| Jun 10, 2026 | Treace John T.Chief Executive Officer | Buy | 14,715 | $4.02 | $59.2K | Form 4 |
| Jun 10, 2026 | Treace John T.Chief Executive Officer | Buy | 29,430 | $4.02 | $118.3K | Form 4 |
| Jun 1, 2026 | Treace John T.Chief Executive Officer | Buy | 50,000 | $3.56 | $178.0K | Form 4 |
| May 28, 2026 | Treace John T.Chief Executive Officer | Buy | 61,202 | $3.02 | $184.8K | Form 4 |
| May 27, 2026 | Treace John T.Chief Executive Officer | Buy | 49,810 | $2.87 | $143.0K | Form 4 |
| May 26, 2026 | Treace John T.Chief Executive Officer | Buy | 4,508 | $2.79 | $12.6K | Form 4 |
| May 14, 2026 | Treace John T.Chief Executive Officer | Buy | 61,750 | $2.62 | $161.8K | Form 4 |
| May 13, 2026 | Treace John T.Chief Executive Officer | Buy | 49,013 | $2.46 | $120.6K | Form 4 |
| May 12, 2026 | Treace John T.Chief Executive Officer | Buy | 43,000 | $2.17 | $93.3K | Form 4 |
| Mar 17, 2025 | Scanlan Sean F.Chief Innovation Officer | Sale | 50,000 | $7.97 | $398.5K | Form 4 |
| Mar 4, 2025 | Treace John T.Chief Executive Officer | Buy | 60,000 | $8.73 | $523.8K | Form 4 |
| Sep 16, 2024 | Treace John T.Chief Executive Officer | Buy | 50,000 | $5.31 | $265.5K | Form 4 |
| Aug 15, 2024 | TREACE JAMES TDirector | Buy | 84,000 | $5.96 | $500.6K | Form 4 |
| Aug 14, 2024 | Treace John T.Chief Executive Officer | Buy | 85,000 | $6.00 | $510.0K | Form 4 |
| Jun 11, 2024 | Treace John T.Chief Executive Officer | Buy | 45,000 | $5.88 | $264.6K | Form 4 |
All 197 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ARMISTICE CAPITAL, LLCSCHEDULE 13G/A, 8 filings Nov 14, 2024 to Aug 14, 202645
- John T. TreaceSCHEDULE 13G/A, 5 filings Feb 11, 2022 to Aug 12, 202646
- BlackRockSCHEDULE 13G/A, 2 filings Jan 29, 2024 to Jul 30, 202647
- Bank of AmericaSCHEDULE 13G, 1 filing May 14, 202648
- GAGNON SECURITIES LLCSCHEDULE 13G/A, 2 filings May 15, 2025 to Feb 12, 202649
- WILLIAM BLAIR INVESTMENT MANAGEMENT, LLCSCHEDULE 13G/A, 2 filings Nov 12, 2025 to Feb 9, 202650
- Morgan StanleySCHEDULE 13G/A, 2 filings Nov 8, 2024 to Feb 3, 202551
- VANGUARD GROUP INCSC 13G/A, 4 filings Feb 9, 2023 to Nov 12, 202452
- AllianceBernsteinSC 13G/A, 2 filings Feb 14, 2023 to Feb 14, 202453
- John R. TreaceSC 13G/A, 2 filings Feb 11, 2022 to Feb 13, 202354
- CIBC Private Wealth Group LLCSC 13G/A, 2 filings Jan 7, 2022 to Mar 22, 202255
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | John T. Treace | 54 | $755.4K | $5.4M56 |
| 2025 | Mark L. Hair | 56 | $510.0K | $5.2M56 |
| 2025 | Sean F. Scanlan | 44 | $446.4K | $2.3M56 |
| 2025 | Scot M. Elder | 50 | $432.1K | $2.1M56 |
| 2025 | Gaetano M. Guglielmino | 56 | $440.0K | $468.5K56 |
| 2024 | Chief Executive Officer, | $723.4K | $6.6M56 | |
| 2024 | Chief Legal & Compliance | $409.3K | $4.6M56 | |
| 2024 | Chief Financial Officer | $490.1K | $4.5M56 | |
| 2024 | Chief Commercial Officer | $37.3K | $3.2M56 | |
| 2024 | Chief Innovation Officer | $419.3K | $3.1M56 | |
| 2023 | Founder and Board Chair | $684.4K | $8.4M56 | |
| 2023 | Chief Financial Officer | $458.0K | $4.7M56 | |
| 2023 | OfficerCorporate Secretary | $376.8K | $3.2M56 | |
| 2023 | Chief Innovation Officer | $380.6K | $2.9M56 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Armistice Capital, LLC | 6,364,000 | $25.3M | 0.7% | No change |
| Bank Of America Corp /de/ | 3,305,100 | $13.2M | 0.0% | +90,807 |
| Gagnon Securities LLC | 3,029,543 | $12.1M | 2.3% | −2,172,343 |
| Vanguard Capital Management LLC | 2,028,479 | $8.1M | 0.0% | +566,972 |
| Gagnon Advisors, LLC | 1,534,034 | $6.1M | 3.9% | New |
| Aqr Capital Management LLC | 1,497,673 | $6.0M | 0.0% | +435,833 |
| BlackRock, Inc. | 1,380,021 | $5.5M | 0.0% | −1,960,002 |
| Marshall Wace, Llp | 1,328,592 | $5.3M | 0.0% | +1,063,659 |
| CIBC Bancorp USA Inc. | 1,216,044 | $4.8M | 0.0% | −2,309 |
| Millennium Management LLC | 738,628 | $2.9M | 0.0% | −409,487 |
| Weber Capital Management LLC /adv | 589,617 | $2.3M | 2.0% | No change |
| D. E. Shaw & Co., Inc. | 583,277 | $2.3M | 0.0% | −257,992 |
| Geode Capital Management, LLC | 573,796 | $2.3M | 0.0% | −437,047 |
| Citadel Advisors LLC | 516,994 | $2.1M | 0.0% | −308,581 |
| Goldman Sachs Group Inc | 492,116 | $2.0M | 0.0% | +104,431 |
| Stifel Financial Corp | 435,009 | $1.7M | 0.0% | +258,917 |
| UBS Group AG | 366,445 | $1.5M | 0.0% | −176,460 |
| Jacobs Levy Equity Management, Inc | 363,729 | $1.4M | 0.0% | +99,995 |
| Raymond James Financial Inc | 331,110 | $1.3M | 0.0% | −26,446 |
| Morgan Stanley | 320,026 | $1.3M | 0.0% | +100,319 |
| Vanguard Fiduciary Trust Co | 292,504 | $1.2M | 0.0% | −25,500 |
| Charles Schwab Investment Management Inc | 282,538 | $1.1M | 0.0% | −46,301 |
| State Street Corp | 234,271 | $932.4K | 0.0% | −1,001,247 |
| Susquehanna International Group, Llp | 214,219 | $852.6K | 0.0% | +197,170 |
| Jain Global LLC | 210,987 | $839.7K | 0.0% | +168,949 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How TREACE MEDICAL CONCEPTS, INC. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARTREACE MEDICAL CONCEPTS, INC.1
- CIK0001630627
- Employer ID (EIN)47-105261110
- Filer statusAccelerated filer not an emerging growth company; not a smaller reporting company; not a shell company10
- Incorporated inDelaware10
- Fiscal year endsDecember 311
- Industry code (SIC)3841 Surgical & Medical Instruments & Apparatus1
- SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
- Business address100 Palmetto Park Place, Ponte Vedra, FL 320811
- Phone(904) 373-59401
- Shares outstanding65,034,552 as of Jul 31, 20269
- Public float$265.9M as of Jun 30, 202510
- AuditorGRANT THORNTON LLP, Jacksonville, Florida PCAOB ID 248; it also attests to the company’s internal control over financial reporting10
- On EDGAR sinceJan 21, 20151
- Filings442 in all: 4 (263), 8-K (47), 3 (22), 10-Q (17), SCHEDULE 13G/A (12), SC 13G/A (10), 144 (7), SC 13G (7)1
All 31 form types
S-8 (6), 10-K (5), DEF 14A (5), DEFA14A (5), 5 (4), ARS (4), CORRESP (4), D (3), D/A (3), SCHEDULE 13G (3), 424B5 (2), UPLOAD (2), 10-Q/A (1), 4/A (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), EFFECT (1), S-1 (1), S-1/A (1), S-1MEF (1), S-3ASR (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 7, 2026
Proxy statement (DEF 14A) Apr 6, 2026
Latest 8-K (8-K) Aug 7, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common stock, $0.001 par value | TMCI | The Nasdaq Global Select Market |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).10
Risk factors and legal proceedings
The risks TREACE MEDICAL CONCEPTS, INC. names in Item 1A of its 10-K filed Feb 27, 2026: 65 risks under these headings, as written.10
- Risks Related to Our Financial Condition and Capital Requirements
- We have incurred losses in the past and may be unable to achieve or sustain profitability in the future.
- If we are unable to successfully market and sell our existing and new products, we may be unable to maintain and grow our revenue or earnings as anticipated, which may have a material adverse effect on our results of operations.
- The terms of our new loan agreements require us to meet certain operating and financial covenants, place restrictions on our operating and financial flexibility, and expose us to the risk of being declared in default and having the full loan balance accelerated.
- We have a limited operating history and face an evolving pace of growth. If we fail to scale our business effectively, our business could be materially and adversely affected.
- We may need additional capital in the future to fund operations or to make opportunistic acquisitions, and such additional capital, if needed, may not be available on acceptable terms, if at all.
- Risks Related to Our Business and Industry
- We operate in a very competitive business environment, and if we are unable to compete successfully against our existing or potential competitors, our business, financial condition, and results of operations may be adversely affected.
- Our sales have been and may continue to be adversely affected due to larger competitors utilizing their established contracts and dominant market positions in unrelated service lines to induce customers to buy their bunion correction systems instead of our products through purchase commitments, rebate payments and/or volume-based pricing agreements.
- Our revenue is primarily generated from sales of the Lapiplasty System, and we are, therefore, highly dependent on it and the market acceptance and growth of our other existing and new products for our success.
- If we fail to continue to develop and retain an effective direct sales force and sales management teams, it could negatively impact our revenues, and we may not generate sufficient revenue to achieve profitability.
- We rely in part on independent sales agencies and stocking distributors to sell our products to customers, and if we are unable to maintain an effective network of independent sales agencies and stocking distributors, we may not achieve our anticipated revenue growth.
The other 55 risks
- Discounted sales of products in advance to hospitals and ambulatory surgery centers and stocking distributors may delay reorders and decrease revenue in subsequent periods and have reduced and may continue to reduce our gross margins.
- Our long-term growth depends on our ability to enhance our products and develop and commercialize additional products in a timely manner. If we cannot innovate, we may not be able to develop or exploit new products or procedures in time to remain competitive.
- The seasonality of our business creates variance in our quarterly revenue, which makes it difficult to compare or forecast our financial results.
- Industry trends have resulted in increased downward pricing pressure on medical services and products, which may affect our ability to sell our products at prices necessary to support our current business strategy.
- Our business plan relies on certain assumptions about the market for our products; however, the size and expected growth of our addressable market has not been established with precision and may be smaller than we estimate, and even if the addressable market is as large as we have estimated, we may not be able to capture additional market share.
- Product liability lawsuits, warranty claims and quality system problems could harm our business.
- Our employees and independent contractors, including independent sales representatives and other consultants, service providers and other vendors, may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have an adverse effect on our results of operations.
- Infectious disease outbreaks have adversely affected, and in the future may adversely affect, our business, financial condition and results of operations.
- Risks Related to Administrative, Organizational and Commercial Operations and Growth
- If hospitals, ambulatory surgery centers and other health care facilities do not approve or curtail the use of our products, our sales may not increase or may decline.
- We may be unable to successfully demonstrate to surgeons or key opinion leaders the merits of our products and technologies compared to those of our competitors or to address the evolving surgeons' and key opinion leaders' preference for minimally invasive osteotomies and MTP fusions, which may make it difficult to establish our products and technologies as a standard of care and continue achieving market acceptance.
- Our inability to maintain contractual relationships with health care professionals could have a negative impact on our research and development and medical education programs.
- If adequate levels of reimbursement from third-party payors for procedures using our products are not obtained or maintained, surgeons and patients may be reluctant to use our products, we may find it necessary to reduce the price for our products, and our business will suffer.
- If we experience problems with, or are required to change, our suppliers or manufacturers, we may be unable to meet customer orders for our products in a timely manner or within our budget.
- If surgeons fail to safely and appropriately use our products, or if we are unable to train podiatrists and orthopaedic surgeons on the safe and appropriate use of our products, we may be unable to achieve our expected sales, growth or profitability.
- Our brand and reputation may be diminished due to real or perceived issues with our procedures or our products, which could have an adverse effect on our business, financial condition, results of operations and prospects.
- The loss of any member on our executive management team or our inability to attract and retain highly skilled members of our sales management and marketing teams and engineers could have a material adverse effect on our business, financial condition and results of operations.
- Performance issues, service interruptions or price increases by shipping carriers could adversely affect our business and harm our reputation and ability to provide our products on a timely basis.
- Any future international expansion will subject us to additional costs and risks that may have a material adverse effect on our business, financial condition and results of operations.
- Risks Related to Our Intellectual Property
- Our competitors have and could continue to develop and commercialize products similar to ours even though we have patents and other intellectual property rights protecting our products, and if we are unable to enforce these rights successfully, we may be unable to gain significant market share and to operate our business profitably.
- We are and may be involved in additional lawsuits or other proceedings to protect or enforce our intellectual property, which could be expensive, time-consuming and unsuccessful. If we were to lose intellectual property lawsuits or other proceedings, our intellectual property rights would be impaired and, if we were found to impair the intellectual property rights of others, a court could require us to pay significant damages and/or prevent us from selling our products.
- We have been and may continue to be subject to claims that we or our employees have misappropriated the intellectual property of a third party, including trade secrets or know-how, or are in breach of non-competition or non-solicitation agreements with our competitors and third parties may claim an ownership interest in intellectual property we regard as our own.
- Continuing to obtain and maintain patent protection depends on compliance with various procedural, document submission, fee payment and other requirements imposed by governmental patent agencies, and our patent protection could be reduced or eliminated for non-compliance with these requirements.
- If we fail to execute invention assignment agreements with our employees and contractors involved in the development of intellectual property or are unable to protect the confidentiality of our trade secrets, the value of our products and our business and competitive position could be harmed.
- Patent terms may not be sufficient to effectively protect our products and business for an adequate period of time.
- Changes in U.S. patent laws may limit our ability to obtain, defend and/or enforce our patents.
- We may be unable to enforce our intellectual property rights throughout the world.
- If our trademarks and trade names are not adequately protected, we may not be able to build name recognition in our markets of interest, and our competitive position may be harmed.
- Risks Related to Regulatory Matters
- We are subject to substantial government regulation that could have a material adverse effect on our business.
- Our relationships with customers, physicians, other health care providers, and third-party payors are subject to federal and state health care fraud and abuse laws, false claims laws, physician payment transparency laws and other health care laws and regulations. If we or our employees, independent contractors, consultants, service providers, or vendors violate these laws, we could face substantial penalties.
- We may not receive, or may be delayed in receiving, the necessary clearances or approvals for our future products or modifications to our current products, and failure to timely obtain necessary clearances or approvals for our future products or modifications to our current products would adversely affect our ability to grow our business.
- Failure to comply with post-marketing regulatory requirements could subject us to enforcement actions, including substantial penalties, and might require us to recall or withdraw a product from the market.
- Legislative or regulatory reforms may have a material adverse effect on us.
- Our products must be manufactured in accordance with federal and state quality regulations and are subject to FDA inspection, and our failure to comply with these regulations could result in fines, product recalls, product liability claims, limits on future product clearances, reputational damage and other adverse impacts.
- The misuse or off-label use of our products may harm our reputation in the marketplace, result in injuries that lead to product liability suits or result in costly investigations, fines or sanctions by regulatory bodies if we are deemed to have engaged in the promotion of these uses, any of which could be costly to our business.
- Our products may cause or contribute to adverse medical events or be subject to failures or malfunctions that we are required to report to the FDA, and if we fail to do so, we could be subject to sanctions that could harm our reputation, business, financial condition and results of operations. The discovery of serious safety or efficacy issues with our products, or a recall or a market withdrawal of our products either voluntarily or at the direction of the FDA or another governmental authority, could have a negative impact on us.
- Actual or perceived failures to comply with applicable data protection, privacy and security laws, regulations, standards and other requirements could adversely affect our business, results of operations and financial condition.
- Our information technology systems may be subject to breaches, cyber-attacks or other disruptions that could, among other adverse consequences, cause us to violate laws, regulations and contractual obligations, could impair our ability to operate our business and could adversely affect our business, results of operations, financial condition, cash flows, reputation or competitive position.
- The clinical study process is lengthy and expensive with uncertain outcomes. We have limited long-term data regarding the safety and efficacy of our products. Results of earlier studies may not be predictive of future clinical trial results, or the safety or efficacy profile for such products.
- Risks Related to Ownership of Our Common Stock
- The market price of our common stock may be volatile and fluctuate substantially.
- If we must reduce our previously-stated annual financial guidance or if our operating and financial performance in any given period does not meet any guidance that we provide to the public, the market price of our common stock may decline, as it has in the past.
- If we do raise additional capital, stockholders may be subject to dilution.
- We may seek to grow our business through acquisitions or investments, strategic alliances, or other initiatives, which could have a material adverse effect on our operating results, dilute our stockholders' ownership, increase our debt or cause us to incur significant expense.
- If securities analysts do not publish research or reports about our business or if they publish negative evaluations of our stock, the price of our stock could decline.
- We have in the past and may in the future be subject to short-selling strategies that may drive down the market price of our common stock and negatively affect our reputation.
- We have not paid dividends in the past and do not expect to pay dividends in the future, and, as a result, any return on investment may be limited to appreciation in the price of our stock.
- Insiders will continue to have substantial influence over us, which could limit your ability to affect the outcome of key transactions, including a change of control.
- Our business could be negatively impacted by corporate citizenship and ESG matters and/or our reporting of such matters.
- Anti-takeover provisions in our amended and restated certificate of incorporation and bylaws, and Delaware law, could discourage a change in control of our company or a change in our management.
- Our amended and restated certificate of incorporation and amended and restated bylaws provide that the Court of Chancery of the State of Delaware is the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders' abilities to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.
- General Risk Factors
- Macroeconomic conditions, including inflation, interest rates, softening consumer sentiment, higher insurance costs, and tariff policies, may affect demand for elective procedures, reduce gross margins, increase inventory costs, and otherwise adversely affect our business, financial condition and results of operations.
- We, along with our suppliers, are dependent on various information technology systems, and failures of, interruptions to, or unauthorized tampering of those systems could have a material adverse effect on our business.
- Our operations are vulnerable to interruption or loss due to natural or other disasters, power loss, strikes and other events beyond our control.
- Failure to establish and maintain an effective system of internal controls could result in material misstatements of our financial statements or cause us to fail to meet our reporting obligations or fail to prevent fraud in which case, our stockholders could lose confidence in our financial reporting and the market price of our common stock could decline.
- Changes in tax laws or regulations that are applied adversely to us or our customers may seriously harm our business.
- Our ability to use net operating losses to offset future taxable income may be subject to certain limitations.
Legal proceedings
Except as described below, we are not a party to any legal proceedings which we believe would have a material adverse effect on our business or results of operations. From time to time, we may become involved in various legal proceedings that arise in the ordinary course of our business.
On April 11, 2025, a shareholder filed a class action complaint in the United States District Court for the Middle District of Florida (captioned McCluney v. Treace Medical Concepts, Inc. et al. Case No. 3:25-cv-00390-WWB-PDB) against us and certain of our officers on behalf of all persons who purchased or otherwise acquired our stock between May 8, 2023 and May 7, 2024 alleging that we and certain of our current executives violated the federal securities laws by making false or misleading statements and failing to disclose material adverse facts about our business, operations and prospects. Specifically, the complaint alleges that we failed to disclose the impact of competition on demand for and utilization of our products and the need to accelerate our plans to offer a new osteotomy product and that our positive statements about our business, operations, and prospects were materially misleading and/or lacked a reasonable basis. The plaintiffs seek unspecified monetary damages, costs, and attorneys’ fees. On July 1, 2025, the court appointed the lead plaintiff and lead counsel. The plaintiffs filed an amended complaint on July 31, 2025, and we filed a motion to dismiss on September 5, 2025. The action is in the preliminary stage. We dispute the allegations in the complaint and intend to defend against this complaint vigorously. Based on the preliminary nature of the proceedings in this action, the outcome remains uncertain, and we cannot reasonably estimate the potential impact, if any, on our business or financial statements at this time. We are insured for Directors and Officers liability for amounts in excess of the retention and up to the policy limits.
The opening of Item 3, Legal Proceedings.10
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1
- 2
- 3
- 4
- 5
- 6
- 7
- 8
- 9
- 10
- 11
- 12SEC EDGARMark Hair, Chief financial officer
- 13
- 14
- 15SEC EDGARDaniel E. Owens, Chief HR Officer
- 16SEC EDGARDipak Rajhansa, SVP, Sales
- 17SEC EDGARJaime A. Frias, Officer
- 18
- 19SEC EDGARSean F. Scanlan, Officer
- 20SEC EDGARAaron Berutti, SVP, Sales
- 21SEC EDGARTerry W. Lubben, SVP, Operations
- 22SEC EDGARJane E. Kiernan, Board member
- 23SEC EDGARLance A. Berry, Board member
- 24SEC EDGARF. Barry Bays, Board member
- 25SEC EDGARJames T. Treace, Board member
- 26SEC EDGARJohn R. Treace, Board member
- 27SEC EDGARRichard W. Mott, Board member
- 28SEC EDGARThomas E. Timbie, Board member
- 29SEC EDGARBetsy Hanna, Board member
- 30SEC EDGARDeepti Jain, Board member
- 31SEC EDGARJaime A. Frias, General counsel
- 32SEC EDGARResults of operations
- 33SEC EDGARShareholder vote
- 34SEC EDGARResults of operations
- 35
- 36SEC EDGARResults of operations
- 37
- 38
- 39
- 40SEC EDGARResults of operations
- 41SEC EDGARShareholder vote
- 42SEC EDGARResults of operations
- 43SEC EDGARExecutive or director change
- 44NasdaqNasdaq calendar
- 45
- 46
- 47
- 48
- 49
- 50
- 51
- 52
- 53
- 54
- 55
- 56