<p>Treace Medical Concepts, Inc.（TMCI）已举行其第三季度财报电话会议。请继续阅读以了解会议的主要亮点。</p>
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<p>Treace Medical Concepts, Inc.的最近财报电话会议呈现出复杂的情绪，突出了成就与挑战。公司报告了显著的收入增长和改善的调整后 EBITDA，但也面临修订的收入展望、Lapiplasty 销量的压力以及对选择性手术的经济影响等挑战。</p>
<h2>收入增长</h2>
<p>Treace Medical 报告第三季度收入为 5020 万美元，比 2024 年同期增长 11%。这一增长主要得益于售出的拇外翻手术包数量增加，展示了公司在更广泛的经济挑战中扩展市场的能力。</p>
<h2>调整后 EBITDA 改善</h2>
<p>与去年相比，公司实现了 49% 的调整后 EBITDA 显著改善。第三季度调整后 EBITDA 亏损从 2024 年第三季度的 510 万美元减少至 260 万美元，表明运营效率和成本管理的改善。</p>
<h2>产品组合扩展</h2>
<p>Treace Medical 成功开发并商业化了三种新的拇外翻矫正系统。这一扩展旨在满足几乎 100% 的外科医生对拇外翻矫正的偏好，使公司能够更好地满足市场需求并增强其竞争优势。</p>
<h2>销售团队扩展</h2>
<p>为了增强销售能力，Treace Medical 任命了一位新的首席商业官和一位高级副总裁负责销售。这些新成员为团队带来了领先的足部和踝部销售专业知识，预计将推动未来的销售增长。</p>
<h2>流动性增加</h2>
<p>截至 2025 年 9 月 30 日，Treace Medical 的总流动性为 8060 万美元。与去年相比，公司在 2025 年第三季度的现金使用量减少了 17%，反映出谨慎的财务管理。</p>
<h2>修订的收入展望</h2>
<p>公司将 2025 年全年的收入展望修订为 211 百万至 213 百万美元，较 2024 年仅增长 1% 至 2%。这一修订反映了市场动态和经济条件变化带来的挑战。</p>
<h2>Lapiplasty 销量下降</h2>
<p>Treace Medical 面临 Lapiplasty 销量的压力，因为外科医生和患者的偏好转向微创骨切除术。这一趋势需要战略调整以适应不断变化的市场需求。</p>
<h2>经济和消费者情绪影响</h2>
<p>更广泛的经济条件和较弱的消费者情绪导致选择性拇外翻手术的推迟增加。这影响了公司的业绩，突显了选择性手术对经济波动的敏感性。</p>
<h2>净亏损增加</h2>
<p>第三季度净亏损较 2024 年同期的 1540 万美元增加了 6%，达 1630 万美元。这突显了公司在市场压力下所面临的财务挑战。</p>
<h2>库存分销商销售影响</h2>
<p>第三季度受益于约 600 万美元的库存分销商销售，其中一半超过了计划。然而，这为第四季度带来了逆风，因为公司预计将受到 300 万美元的影响。</p>
<h2>前瞻性指导</h2>
<p>展望未来，Treace Medical 计划专注于扩展其产品组合、增加外科医生培训以及增强销售团队的能力，以推动 2026 年的市场份额和盈利能力。公司预计案例数量将增长，尽管平均售价较低，并旨在应对第四季度库存分销商销售带来的逆风。</p>
<p>总之，Treace Medical Concepts, Inc.的财报电话会议反映出积极发展与挑战的平衡混合。尽管公司实现了收入增长和改善的调整后 EBITDA，但仍面临修订的收入展望和经济对选择性手术的影响等挑战。未来，Treace Medical 在产品扩展和销售增强方面的战略重点旨在加强其市场地位并推动未来的盈利能力。</p>

TMCI

<p>Treace Medical Concepts, Inc. 报告了第三季度的财务业绩，收入显著增长 11%，达到 5020 万美元，调整后的息税折旧摊销前利润（EBITDA）改善 49%，亏损减少至 260 万美元。然而，公司将 2025 年的收入预期修订为 2.11 亿至 2.13 亿美元，反映出市场挑战和 Lapiplasty 手术量的下降。经济状况导致选择性手术的推迟增加，造成净亏损 1630 万美元。展望未来，Treace 计划扩大其产品组合并增强销售能力，以推动未来的增长</p>

<p>Treace Medical Concepts, Inc. ((TMCI)) has held its Q3 earnings call. Read on for the main highlights of the call.</p>
<div class="lb-trans"><p>Treace Medical Concepts, Inc.（TMCI）已举行其第三季度财报电话会议。请继续阅读以了解会议的主要亮点。</p>
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</div><p>The recent earnings call for Treace Medical Concepts, Inc. presented a mixed sentiment, highlighting both achievements and challenges. The company reported notable revenue growth and improved adjusted EBITDA, yet faced hurdles such as a revised revenue outlook, pressure on Lapiplasty volumes, and economic impacts on elective procedures.</p>
<div class="lb-trans"><p>Treace Medical Concepts, Inc.的最近财报电话会议呈现出复杂的情绪，突出了成就与挑战。公司报告了显著的收入增长和改善的调整后 EBITDA，但也面临修订的收入展望、Lapiplasty 销量的压力以及对选择性手术的经济影响等挑战。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增长</h2>
</div><p>Treace Medical reported third quarter revenues of $50.2 million, marking an 11% growth over the same period in 2024. This increase was largely driven by a rise in bunion procedure kits sold, showcasing the company’s ability to expand its market presence despite broader economic challenges.</p>
<div class="lb-trans"><p>Treace Medical 报告第三季度收入为 5020 万美元，比 2024 年同期增长 11%。这一增长主要得益于售出的拇外翻手术包数量增加，展示了公司在更广泛的经济挑战中扩展市场的能力。</p>
</div><h2>Adjusted EBITDA Improvement</h2>
<div class="lb-trans"><h2>调整后 EBITDA 改善</h2>
</div><p>The company achieved a significant 49% improvement in adjusted EBITDA compared to the previous year. The third quarter adjusted EBITDA loss was reduced to $2.6 million from $5.1 million in Q3 2024, indicating better operational efficiency and cost management.</p>
<div class="lb-trans"><p>与去年相比，公司实现了 49% 的调整后 EBITDA 显著改善。第三季度调整后 EBITDA 亏损从 2024 年第三季度的 510 万美元减少至 260 万美元，表明运营效率和成本管理的改善。</p>
</div><h2>Expansion of Product Portfolio</h2>
<div class="lb-trans"><h2>产品组合扩展</h2>
</div><p>Treace Medical has successfully developed and commercialized three new bunion correction systems. This expansion is aimed at addressing nearly 100% of surgeon preferences for bunion correction, positioning the company to better meet market demands and enhance its competitive edge.</p>
<div class="lb-trans"><p>Treace Medical 成功开发并商业化了三种新的拇外翻矫正系统。这一扩展旨在满足几乎 100% 的外科医生对拇外翻矫正的偏好，使公司能够更好地满足市场需求并增强其竞争优势。</p>
</div><h2>Sales Team Expansion</h2>
<div class="lb-trans"><h2>销售团队扩展</h2>
</div><p>In a strategic move to bolster its sales capabilities, Treace Medical appointed a new Chief Commercial Officer and a Senior Vice President of Sales. These additions bring leading foot and ankle sales expertise to the team, which is expected to drive future sales growth.</p>
<div class="lb-trans"><p>为了增强销售能力，Treace Medical 任命了一位新的首席商业官和一位高级副总裁负责销售。这些新成员为团队带来了领先的足部和踝部销售专业知识，预计将推动未来的销售增长。</p>
</div><h2>Increased Liquidity</h2>
<div class="lb-trans"><h2>流动性增加</h2>
</div><p>As of September 30, 2025, Treace Medical’s total liquidity was $80.6 million. The company managed to decrease its cash usage by 17% in Q3 2025 compared to the previous year, reflecting prudent financial management.</p>
<div class="lb-trans"><p>截至 2025 年 9 月 30 日，Treace Medical 的总流动性为 8060 万美元。与去年相比，公司在 2025 年第三季度的现金使用量减少了 17%，反映出谨慎的财务管理。</p>
</div><h2>Revised Revenue Outlook</h2>
<div class="lb-trans"><h2>修订的收入展望</h2>
</div><p>The company revised its full-year 2025 revenue outlook to a range of $211 million to $213 million, representing a modest growth of only 1% to 2% compared to 2024. This revision reflects the challenges posed by shifting market dynamics and economic conditions.</p>
<div class="lb-trans"><p>公司将 2025 年全年的收入展望修订为 211 百万至 213 百万美元，较 2024 年仅增长 1% 至 2%。这一修订反映了市场动态和经济条件变化带来的挑战。</p>
</div><h2>Decline in Lapiplasty Volumes</h2>
<div class="lb-trans"><h2>Lapiplasty 销量下降</h2>
</div><p>Treace Medical faced pressure on Lapiplasty volumes as surgeon and patient preferences shifted towards minimally invasive osteotomies. This trend necessitated strategic adjustments to align with evolving market demands.</p>
<div class="lb-trans"><p>Treace Medical 面临 Lapiplasty 销量的压力，因为外科医生和患者的偏好转向微创骨切除术。这一趋势需要战略调整以适应不断变化的市场需求。</p>
</div><h2>Economic and Consumer Sentiment Impact</h2>
<div class="lb-trans"><h2>经济和消费者情绪影响</h2>
</div><p>Broader economic conditions and softer consumer sentiment have led to an increase in deferrals of elective bunion procedures. This has impacted the company’s performance, highlighting the sensitivity of elective procedures to economic fluctuations.</p>
<div class="lb-trans"><p>更广泛的经济条件和较弱的消费者情绪导致选择性拇外翻手术的推迟增加。这影响了公司的业绩，突显了选择性手术对经济波动的敏感性。</p>
</div><h2>Net Loss Increase</h2>
<div class="lb-trans"><h2>净亏损增加</h2>
</div><p>The third quarter net loss increased by 6% to $16.3 million compared to $15.4 million in the same period of 2024. This underscores the financial challenges the company is navigating amid market pressures.</p>
<div class="lb-trans"><p>第三季度净亏损较 2024 年同期的 1540 万美元增加了 6%，达 1630 万美元。这突显了公司在市场压力下所面临的财务挑战。</p>
</div><h2>Stocking Distributor Sales Impact</h2>
<div class="lb-trans"><h2>库存分销商销售影响</h2>
</div><p>The third quarter benefited from approximately $6 million in stocking distributor sales, with half of this amount exceeding plans. However, this creates a headwind for the fourth quarter, as the company anticipates a $3 million impact.</p>
<div class="lb-trans"><p>第三季度受益于约 600 万美元的库存分销商销售，其中一半超过了计划。然而，这为第四季度带来了逆风，因为公司预计将受到 300 万美元的影响。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指导</h2>
</div><p>Looking ahead, Treace Medical plans to focus on expanding its product portfolio, increasing surgeon training, and enhancing its sales team’s capabilities to drive market share and profitability in 2026. The company anticipates case volume growth, albeit at lower average selling prices, and aims to navigate the headwinds from stocking distributor sales in Q4.</p>
<div class="lb-trans"><p>展望未来，Treace Medical 计划专注于扩展其产品组合、增加外科医生培训以及增强销售团队的能力，以推动 2026 年的市场份额和盈利能力。公司预计案例数量将增长，尽管平均售价较低，并旨在应对第四季度库存分销商销售带来的逆风。</p>
</div><p>In summary, the earnings call for Treace Medical Concepts, Inc. reflected a balanced mix of positive developments and challenges. While the company achieved revenue growth and improved adjusted EBITDA, it faces hurdles such as a revised revenue outlook and economic impacts on elective procedures. Moving forward, Treace Medical’s strategic focus on product expansion and sales enhancement aims to strengthen its market position and drive future profitability.</p>
<div class="lb-trans"><p>总之，Treace Medical Concepts, Inc.的财报电话会议反映出积极发展与挑战的平衡混合。尽管公司实现了收入增长和改善的调整后 EBITDA，但仍面临修订的收入展望和经济对选择性手术的影响等挑战。未来，Treace Medical 在产品扩展和销售增强方面的战略重点旨在加强其市场地位并推动未来的盈利能力。</p>
</div>

Treace Medical 的财报电话会议：在挑战中实现增长