<p>Treace Medical Concepts, Inc.（TMCI）已舉行其第三季度財報電話會議。請繼續閲讀以瞭解會議的主要亮點。</p>
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<p>Treace Medical Concepts, Inc.的最近財報電話會議呈現出複雜的情緒，突出了成就與挑戰。公司報告了顯著的收入增長和改善的調整後 EBITDA，但也面臨修訂的收入展望、Lapiplasty 銷量的壓力以及對選擇性手術的經濟影響等挑戰。</p>
<h2>收入增長</h2>
<p>Treace Medical 報告第三季度收入為 5020 萬美元，比 2024 年同期增長 11%。這一增長主要得益於售出的拇外翻手術包數量增加，展示了公司在更廣泛的經濟挑戰中擴展市場的能力。</p>
<h2>調整後 EBITDA 改善</h2>
<p>與去年相比，公司實現了 49% 的調整後 EBITDA 顯著改善。第三季度調整後 EBITDA 虧損從 2024 年第三季度的 510 萬美元減少至 260 萬美元，表明運營效率和成本管理的改善。</p>
<h2>產品組合擴展</h2>
<p>Treace Medical 成功開發並商業化了三種新的拇外翻矯正系統。這一擴展旨在滿足幾乎 100% 的外科醫生對拇外翻矯正的偏好，使公司能夠更好地滿足市場需求並增強其競爭優勢。</p>
<h2>銷售團隊擴展</h2>
<p>為了增強銷售能力，Treace Medical 任命了一位新的首席商業官和一位高級副總裁負責銷售。這些新成員為團隊帶來了領先的足部和踝部銷售專業知識，預計將推動未來的銷售增長。</p>
<h2>流動性增加</h2>
<p>截至 2025 年 9 月 30 日，Treace Medical 的總流動性為 8060 萬美元。與去年相比，公司在 2025 年第三季度的現金使用量減少了 17%，反映出謹慎的財務管理。</p>
<h2>修訂的收入展望</h2>
<p>公司將 2025 年全年的收入展望修訂為 211 百萬至 213 百萬美元，較 2024 年僅增長 1% 至 2%。這一修訂反映了市場動態和經濟條件變化帶來的挑戰。</p>
<h2>Lapiplasty 銷量下降</h2>
<p>Treace Medical 面臨 Lapiplasty 銷量的壓力，因為外科醫生和患者的偏好轉向微創骨切除術。這一趨勢需要戰略調整以適應不斷變化的市場需求。</p>
<h2>經濟和消費者情緒影響</h2>
<p>更廣泛的經濟條件和較弱的消費者情緒導致選擇性拇外翻手術的推遲增加。這影響了公司的業績，突顯了選擇性手術對經濟波動的敏感性。</p>
<h2>淨虧損增加</h2>
<p>第三季度淨虧損較 2024 年同期的 1540 萬美元增加了 6%，達 1630 萬美元。這突顯了公司在市場壓力下所面臨的財務挑戰。</p>
<h2>庫存分銷商銷售影響</h2>
<p>第三季度受益於約 600 萬美元的庫存分銷商銷售，其中一半超過了計劃。然而，這為第四季度帶來了逆風，因為公司預計將受到 300 萬美元的影響。</p>
<h2>前瞻性指導</h2>
<p>展望未來，Treace Medical 計劃專注於擴展其產品組合、增加外科醫生培訓以及增強銷售團隊的能力，以推動 2026 年的市場份額和盈利能力。公司預計案例數量將增長，儘管平均售價較低，並旨在應對第四季度庫存分銷商銷售帶來的逆風。</p>
<p>總之，Treace Medical Concepts, Inc.的財報電話會議反映出積極發展與挑戰的平衡混合。儘管公司實現了收入增長和改善的調整後 EBITDA，但仍面臨修訂的收入展望和經濟對選擇性手術的影響等挑戰。未來，Treace Medical 在產品擴展和銷售增強方面的戰略重點旨在加強其市場地位並推動未來的盈利能力。</p>

TMCI

<p>Treace Medical Concepts, Inc. 報告了第三季度的財務業績，收入顯著增長 11%，達到 5020 萬美元，調整後的息税折舊攤銷前利潤（EBITDA）改善 49%，虧損減少至 260 萬美元。然而，公司將 2025 年的收入預期修訂為 2.11 億至 2.13 億美元，反映出市場挑戰和 Lapiplasty 手術量的下降。經濟狀況導致選擇性手術的推遲增加，造成淨虧損 1630 萬美元。展望未來，Treace 計劃擴大其產品組合並增強銷售能力，以推動未來的增長</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）已舉行其第三季度財報電話會議。請繼續閲讀以瞭解會議的主要亮點。</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.的最近財報電話會議呈現出複雜的情緒，突出了成就與挑戰。公司報告了顯著的收入增長和改善的調整後 EBITDA，但也面臨修訂的收入展望、Lapiplasty 銷量的壓力以及對選擇性手術的經濟影響等挑戰。</p>
</div><h2>Revenue Growth</h2>
<div class="lb-trans"><h2>收入增長</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 報告第三季度收入為 5020 萬美元，比 2024 年同期增長 11%。這一增長主要得益於售出的拇外翻手術包數量增加，展示了公司在更廣泛的經濟挑戰中擴展市場的能力。</p>
</div><h2>Adjusted EBITDA Improvement</h2>
<div class="lb-trans"><h2>調整後 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>與去年相比，公司實現了 49% 的調整後 EBITDA 顯著改善。第三季度調整後 EBITDA 虧損從 2024 年第三季度的 510 萬美元減少至 260 萬美元，表明運營效率和成本管理的改善。</p>
</div><h2>Expansion of Product Portfolio</h2>
<div class="lb-trans"><h2>產品組合擴展</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 成功開發並商業化了三種新的拇外翻矯正系統。這一擴展旨在滿足幾乎 100% 的外科醫生對拇外翻矯正的偏好，使公司能夠更好地滿足市場需求並增強其競爭優勢。</p>
</div><h2>Sales Team Expansion</h2>
<div class="lb-trans"><h2>銷售團隊擴展</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>為了增強銷售能力，Treace Medical 任命了一位新的首席商業官和一位高級副總裁負責銷售。這些新成員為團隊帶來了領先的足部和踝部銷售專業知識，預計將推動未來的銷售增長。</p>
</div><h2>Increased Liquidity</h2>
<div class="lb-trans"><h2>流動性增加</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 的總流動性為 8060 萬美元。與去年相比，公司在 2025 年第三季度的現金使用量減少了 17%，反映出謹慎的財務管理。</p>
</div><h2>Revised Revenue Outlook</h2>
<div class="lb-trans"><h2>修訂的收入展望</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>公司將 2025 年全年的收入展望修訂為 211 百萬至 213 百萬美元，較 2024 年僅增長 1% 至 2%。這一修訂反映了市場動態和經濟條件變化帶來的挑戰。</p>
</div><h2>Decline in Lapiplasty Volumes</h2>
<div class="lb-trans"><h2>Lapiplasty 銷量下降</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 面臨 Lapiplasty 銷量的壓力，因為外科醫生和患者的偏好轉向微創骨切除術。這一趨勢需要戰略調整以適應不斷變化的市場需求。</p>
</div><h2>Economic and Consumer Sentiment Impact</h2>
<div class="lb-trans"><h2>經濟和消費者情緒影響</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>更廣泛的經濟條件和較弱的消費者情緒導致選擇性拇外翻手術的推遲增加。這影響了公司的業績，突顯了選擇性手術對經濟波動的敏感性。</p>
</div><h2>Net Loss Increase</h2>
<div class="lb-trans"><h2>淨虧損增加</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>第三季度淨虧損較 2024 年同期的 1540 萬美元增加了 6%，達 1630 萬美元。這突顯了公司在市場壓力下所面臨的財務挑戰。</p>
</div><h2>Stocking Distributor Sales Impact</h2>
<div class="lb-trans"><h2>庫存分銷商銷售影響</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>第三季度受益於約 600 萬美元的庫存分銷商銷售，其中一半超過了計劃。然而，這為第四季度帶來了逆風，因為公司預計將受到 300 萬美元的影響。</p>
</div><h2>Forward-Looking Guidance</h2>
<div class="lb-trans"><h2>前瞻性指導</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>展望未來，Treace Medical 計劃專注於擴展其產品組合、增加外科醫生培訓以及增強銷售團隊的能力，以推動 2026 年的市場份額和盈利能力。公司預計案例數量將增長，儘管平均售價較低，並旨在應對第四季度庫存分銷商銷售帶來的逆風。</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>總之，Treace Medical Concepts, Inc.的財報電話會議反映出積極發展與挑戰的平衡混合。儘管公司實現了收入增長和改善的調整後 EBITDA，但仍面臨修訂的收入展望和經濟對選擇性手術的影響等挑戰。未來，Treace Medical 在產品擴展和銷售增強方面的戰略重點旨在加強其市場地位並推動未來的盈利能力。</p>
</div>

Treace Medical 的財報電話會議：在挑戰中實現增長