Treace Medical reported 2Q22 orthopedic sales of $30 million, +45.1% compared to 2Q21.
The company estimates that it has penetrated 20% of the 10,000 foot-and-ankle surgeons in the U.S. who perform bunion surgery. Utilization increased to 10.1 kits per surgeon in the second quarter, compared to 9.8 a year ago. Average blended selling price per case grew 5% year-over-year, to $5,711 in the second quarter.
Treace’s direct salesforce generated 68% of its second quarter revenue, up from 51% a year ago. Company CEO John Treace pointed to the direct salesforce as a key growth driver. He said, “We have a specialized team here at Treace, including a rapidly expanding direct salesforce, one that is 100% focused on the bunion and related midfoot surgery, and represents the only such organization that we’re aware of in the medtech industry. This has contributed meaningfully to our revenue and market penetration. We continue to invest in this channel and transition to a higher mix of direct revenue over time.”
Pleased with the underlying strength of its business, Treace increased its 2022 revenue guidance to the range of $130 million to $134 million. The new range represents an increase of 38% to 42% over 2021 revenues.
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
2Q22
2Q21
$ Chg
% Chg
Trauma
$30.0
$20.7
$9.3
45.1%
1H21
1H21
$ Chg
% Chg
Trauma
$59.0
$39.4
$19.7
49.9%
Company Earnings
Amt
% of Sales
Sales
$30.0
Cost of Sales
$5.7
18.9%
Sales and Marketing
$26.3
87.6%
General and Admin
$7.0
23.4%
R & D
$3.0
10%
Other
$5.3
17.7%
Net Earnings
($17.2)
(57.5%)
Treace Medical reported 2Q22 orthopedic sales of $30 million, +45.1% compared to 2Q21.
The company estimates that it has penetrated 20% of the 10,000 foot-and-ankle surgeons in the U.S. who perform bunion surgery. Utilization increased to 10.1 kits per surgeon in the second quarter, compared to 9.8 a year ago. Average blended selling price...
Treace Medical reported 2Q22 orthopedic sales of $30 million, +45.1% compared to 2Q21.
The company estimates that it has penetrated 20% of the 10,000 foot-and-ankle surgeons in the U.S. who perform bunion surgery. Utilization increased to 10.1 kits per surgeon in the second quarter, compared to 9.8 a year ago. Average blended selling price per case grew 5% year-over-year, to $5,711 in the second quarter.
Treace’s direct salesforce generated 68% of its second quarter revenue, up from 51% a year ago. Company CEO John Treace pointed to the direct salesforce as a key growth driver. He said, “We have a specialized team here at Treace, including a rapidly expanding direct salesforce, one that is 100% focused on the bunion and related midfoot surgery, and represents the only such organization that we’re aware of in the medtech industry. This has contributed meaningfully to our revenue and market penetration. We continue to invest in this channel and transition to a higher mix of direct revenue over time.”
Pleased with the underlying strength of its business, Treace increased its 2022 revenue guidance to the range of $130 million to $134 million. The new range represents an increase of 38% to 42% over 2021 revenues.
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
2Q22
2Q21
$ Chg
% Chg
Trauma
$30.0
$20.7
$9.3
45.1%
1H21
1H21
$ Chg
% Chg
Trauma
$59.0
$39.4
$19.7
49.9%
Company Earnings
Amt
% of Sales
Sales
$30.0
Cost of Sales
$5.7
18.9%
Sales and Marketing
$26.3
87.6%
General and Admin
$7.0
23.4%
R & D
$3.0
10%
Other
$5.3
17.7%
Net Earnings
($17.2)
(57.5%)
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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.
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