TMCI

EX-99.1

2 tmci-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

Treace Medical Concepts Reports First Quarter 2026 Financial Results

PONTE VEDRA, Fla. – May 8, 2026 – Treace Medical Concepts, Inc. ("Treace" or the "Company") (NasdaqGS: TMCI), a medical technology company driving a fundamental shift in the surgical treatment of bunions and related midfoot deformities, today reported financial results for the first quarter ended March 31, 2026.

Recent Highlights

• Generated revenue of $47.2 million in first quarter 2026 compared to $52.6 million in the same period in 2025.

• Reported first quarter 2026 net loss of $(18.0) million and adjusted EBITDA of $(5.5) million in the first quarter 2026.

• Cash, cash equivalents, and marketable securities totaled $51.9 million as of March 31, 2026, representing an increase of $3.5 million from the Company’s balance of $48.4 million as of December 31, 2025, and compares to an increase of approximately $0.4 million in the first quarter of 2025.

• Initiated limited market release of SuperBite™ Compression Screw System with successful first commercial cases.

• Broadened global patent portfolio surpassing 130 granted patents in addition to over 200 pending patent applications.

“We are encouraged by the growing demand for our comprehensive portfolio of best-in-class bunion and midfoot correction systems, including our new products, which expand our addressable procedure opportunities across our growing surgeon base,” said John T. Treace, CEO and Chairman of Treace Medical. “In the first quarter, we continued to take market share and grow year-over-year case volumes. We remain focused on driving surgeon adoption of our broadened portfolio and commercializing our 2026 new product launches while advancing a robust pipeline of future product innovations. With continued focus on commercial execution and operational discipline, we believe we are well positioned to drive further share gains and return to stronger growth in the back half of the year.”

First Quarter 2026 Financial Results

Revenue for the first quarter of 2026 was $47.2 million, representing a decrease of 10% compared to $52.6 million in the first quarter of 2025.

Gross profit for the first quarter of 2026 was $37.4 million compared to $41.9 million in the first quarter of 2025. Gross margin was 79.3% in the first quarter of 2026, compared to 79.7% in the first quarter of 2025.

Total operating expenses were $54.6 million in the first quarter of 2026 and decreased by $2.9 million compared to total operating expenses of $57.5 million in the first quarter of 2025.

First quarter 2026 net loss was $(18.0) million, or $(0.28) per share, compared to $(15.9) million, or $(0.25) per share, for the same period in 2025. Adjusted EBITDA was $(5.5) million in the first quarter of 2026 compared to $(3.8) million for the same period in 2025. The financial tables and description below provide additional information and a reconciliation of non-GAAP financial information.

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Cash, cash equivalents, and marketable securities totaled $51.9 million as of March 31, 2026. The Company’s existing credit facility provides an additional $115 million of liquidity subject to certain conditions.

2026 Financial Outlook

The Company is reaffirming its full-year 2026 revenue guidance to be in the range of $202 million to $212 million, representing a decline of 5% to 0%, compared to full-year 2025, which was raised in conjunction with its announcement of preliminary operating results on April 9, 2026.

The Company reiterates its expectation of a loss in Adjusted EBITDA in the range of $4.0 million to $6.0 million for full year 2026, as compared to a loss of $3.9 million in the full-year 2025.*

The Company reiterates its expectation for a reduction in cash usage of approximately 50% for full-year 2026 as compared to the full year 2025.

The Company’s full-year 2026 guidance reflects continued case volume growth, offset by continued headwinds from demand driven product and price mix shift within Treace’s expanded product portfolio.

Webcast and Conference Call Details

Treace will host a conference call today, May 8, 2026, at 8:00 a.m. ET to discuss its first quarter 2026 financial results. Investors interested in listening to the conference call may do so by registering. Once registered, participants will receive dial-in numbers and a unique pin to join the call and ask questions. The live webcast of the conference call will be available on the Investor Relations section of the Company’s website at investors.treace.com. The webcast will be archived on the website following the completion of the call.

Use of Non-GAAP Financial Measures

To supplement the financial results presented in accordance with GAAP, this earnings release presents Adjusted EBITDA, which the Company defines as net loss before depreciation and amortization expense, interest income, interest expense, taxes, share-based compensation expense, acquisition-related costs,

8-K

0001630627false00016306272026-04-082026-04-08

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 8, 2026

TREACE MEDICAL CONCEPTS, Inc.

(Exact name of registrant as specified in its charter)

Delaware

001-40355

47-1052611

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification Number)

100 Palmetto Park Place

Ponte Vedra, Florida 32081

(Address of principal executive offices, including Zip Code)

Registrant’s telephone number, including area code: (904) 373-5940

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value per share

TMCI

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

The information contained in Item 7.01 of this Current Report on Form 8-K under the heading “Preliminary, Unaudited First Quarter Outlook” is incorporated by reference into this Item 2.02. For the avoidance of doubt, no other information contained in Item 7.01 is incorporated by reference into this Item 2.02.

The information provided in Item 2.02 of this Current Report on Form 8-K is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any filing under the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as shall be expressly set forth by specific reference in any such filing.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Effective as of the close of business on April 8, 2026, Gaetano M. Guglielmino, Chief Commercial Officer of Treace Medical Concepts, Inc. (the “Company”), will depart from the Company. The Company does not plan to fill the Chief Commercial Officer role. Instead, Mr. Guglielmino’s responsibilities will be assumed by existing employees, and the Senior Vice President, Sales will now report directly to the Chief Executive Officer, John T. Treace. Mr. Guglielmino’s departure from the Company is not the result of any dispute or disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

In order to assist with the transition of his responsibilities, Mr. Guglielmino entered into a Consulting Services Agreement with the Company, effective as of April 9, 2026, that provides, among other things, that Mr. Guglielmino will serve as an independent consultant to the Company through January 31, 2027. During the term of the Consulting Services Agreement, Mr. Guglielmino will receive (1) a monthly fee of $36,666.67, (2) payment of his COBRA premiums, (3) a pro-rated annual target bonus, based on the number of days that he served as an employee during 2026, payable at the same time annual bonuses are paid generally to the Company’s employees, (4) payment for rent on his apartment in Ponte Vedra until such time that the lease is assigned to the Company, and (5) continued vesting in previously-granted equity awards in accordance with the terms of such equity awards. Mr. Guglielmino also signed a release of claims in favor of the Company and a written attestation that his confidentiality, nonsolicitation and noncompetition agreement is in effect and enforceable.

The foregoing description of the Consulting Services Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Consulting Services Agreement

8-K

false000163062700016306272026-02-272026-02-27

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 27, 2026

TREACE MEDICAL CONCEPTS, Inc. (Exact name of registrant as specified in its charter)

Delaware

001-40355

47-1052611

(State or other jurisdiction of incorporation)

(Commission File Number)

(IRS Employer Identification Number)

100 Palmetto Park Place Ponte Vedra, Florida 32081 (Address of principal executive offices, including Zip Code) Registrant’s telephone number, including area code: (904) 373-5940

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, $0.001 par value per share

TMCI

The Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On February 27, 2026, Treace Medical Concepts, Inc. (the “Company”) issued a press release regarding its financial results for the year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

This information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01

Financial Statements and Exhibits.

Exhibit No.

Description

99.1

Press Release of Treace Medical Concepts, Inc. issued on February 27, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

TREACE MEDICAL CONCEPTS, INC.

Date: February 27, 2026

By:

/s/ Mark L. Hair

Mark L. Hair

Chief Financial Officer