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Treace Medical Concepts reported 3Q21 orthopedic sales of $21.6 million, +51.5% vs. 3Q20. Unlike many other orthopedic companies, Treace’s sales accelerated from the second to third quarters, growing +4.7% sequentially despite COVID and staffing headwinds. The company beat most analysts’ expectations, with sales growth driven by a +41% increase in active surgeons (at least one case in the trailing 12 months) and a +16.3% increase in utilization (procedure kits per active surgeon).
In September, the company built upon the success of its Lapiplasty System by launching the Adductoplasty Midfoot Correction System. The system is designed for reproducible correction of the midfoot, providing additional support for bunion patients. The new product introduction helped Treace’s $5,455 blended average selling pricing increase 6% over 3Q20.
The company reaffirmed its guidance of 2021 sales in the range of $90 million to $95 million, reflecting growth of +57% to +65% over 2020 sales.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $21.6 | $14.3 | $7.4 | 51.5% |
| 9mo20 | 9mo19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $61.0 | $33.3 | $27.7 | 83.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $21.6 | |
| Cost of Sales | $4.2 | 19.6% |
| Sales and Marketing | $16.0 | 73.9% |
| General and Admin | $4.3 | 19.9% |
| R & D | $2.5 | 11.7% |
| Other | $1.0 | 4.4% |
| Net Earnings | ($6.4) | (29.7%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
Treace Medical Concepts reported 3Q21 orthopedic sales of $21.6 million, +51.5% vs. 3Q20. Unlike many other orthopedic companies, Treace's sales accelerated from the second to third quarters, growing +4.7% sequentially despite COVID and staffing headwinds. The company beat most analysts' expectations, with sales growth driven by a +41%...
Treace Medical Concepts reported 3Q21 orthopedic sales of $21.6 million, +51.5% vs. 3Q20. Unlike many other orthopedic companies, Treace’s sales accelerated from the second to third quarters, growing +4.7% sequentially despite COVID and staffing headwinds. The company beat most analysts’ expectations, with sales growth driven by a +41% increase in active surgeons (at least one case in the trailing 12 months) and a +16.3% increase in utilization (procedure kits per active surgeon).
In September, the company built upon the success of its Lapiplasty System by launching the Adductoplasty Midfoot Correction System. The system is designed for reproducible correction of the midfoot, providing additional support for bunion patients. The new product introduction helped Treace’s $5,455 blended average selling pricing increase 6% over 3Q20.
The company reaffirmed its guidance of 2021 sales in the range of $90 million to $95 million, reflecting growth of +57% to +65% over 2020 sales.
Orthopedic Sales Data
All orthopedic sales data is provided in USD millions unless otherwise noted. Orthopedic sales and growth rates are estimated on an as-reported basis.
Orthopedic Sales by Segment
| 3Q21 | 3Q20 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $21.6 | $14.3 | $7.4 | 51.5% |
| 9mo20 | 9mo19 | $ Chg | % Chg | |
|---|---|---|---|---|
| Trauma | $61.0 | $33.3 | $27.7 | 83.3% |
Company Earnings
| Amt | % of Sales | |
|---|---|---|
| Sales | $21.6 | |
| Cost of Sales | $4.2 | 19.6% |
| Sales and Marketing | $16.0 | 73.9% |
| General and Admin | $4.3 | 19.9% |
| R & D | $2.5 | 11.7% |
| Other | $1.0 | 4.4% |
| Net Earnings | ($6.4) | (29.7%) |
Mike Evers is ORTHOWORLD’s Digital Content Strategist. He can be reached by email.
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ME
Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
