Earnings call transcript Q2 2023

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good day and thank you for standing by. Welcome to the Treace Medical Concepts' Second Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

to Dewey. conference like speaker to now Julie today, would hand over the your I ahead. go Please

Julie Dewey

Good afternoon, us. welcome With Officer; call. Treace's everyone and and Communications me We earnings quarter Chief Chief Treace, appreciate conference today XXXX Mark are you Chief IR Hair, joining and I'm John Dewey, to Julie Officer. our Executive second Officer. Financial

of review released John commentary we'll question-and-answer on activity close and offer after which and results our financial will our today, Mark call, quarter host the session. During second after market the commercial a

The press archived our be found Relations being release website and the of will website. be and in supplemental the is materials section call recorded in can Investor at section This investors.treace.com. our Investor of

trends, to that intent and remind is Any relate as of during based like or it statements future the protected made statements results Act predictions our our we'd statements that forward-looking of to and call expectations assumptions. Securities that our performance, estimates will forward-looking current today's be forward-looking statements. XXXX. as upon Private under estimated are All well various you begin, we Reform or are market all events Litigation Before

update that These available information, these and events anticipated statements or statements. are upon current material forward-looking statements these based to could risks implied statements. differ Treace from cause uncertainties no involve actual or by materially results and to those All obligation forward-looking assumes

and March Form full-year XX-K Form the Form to the for to for XXXX quarter quarter you XX-Q SEC detailed Accordingly, the undue presentation XXXX place our our a X, for filed on on risks. May first filed Please should of not XX-Q for tomorrow, on XXXX, filed be our statements. X, our reliance filings, including these refer second

the turn John. now I'll to over call that, With

John Treace

quarter our you, Julie. us for everyone conference second Good and afternoon, you earnings XXXX on thank joining Thank call.

of what saying believe off of first the well to able positioned half our are earnings half begin the accomplish am the proud XXXX. like second team last to we of the since with how call, We're I I'd Before in start and we our was making, year. the by we and call for we're progress pleased

quarter, strong second resulting market once have again growth, EBITDA our progress, encouraging continued on reaffirming continued we our strategic in differentiated our metrics, expand the technologies. plan, to the right in In key execute the of place to revenue we and strategies gains across sustained operating that penetration adjusted

market on into Before summary I the today. about go stand where let's we details our with start quarter,

root developed Lapiplasty disruptive solution and cause was Our and correct to bunion address market. underserved specifically the large of a the

We we an plus with mainly addressable have U.S. associated an is annual estimated billion of standards year, current candidates, which market believe X.X which estimated $X limitations surgery care. million bunion each identified only of of to due undergo XXX,XXX surgical

bunion. We addressing believe and three correcting of all cause planes by the of root thereby our joint, the deformity proprietary Lapiplasty system bunion the surgically unstable addresses securing these the limitations

of in annual $X million procedures addressable the U.S. we the in As of U.S. surgical the plus in penetration XXX,XXX market U.S. the have that the quarter approximately surgical of second penetrated constitute candidates X.X% estimated from bunion reflecting the market annual XXXX, total approximately of second XXXX, X.X up of our and estimated X.X% quarter X.X% billion

the quarter Turning $XX of was growth Revenue representing quarter to XXXX. results. our second second over million, QX XX% in the

with surgeons quarter some compared patients to execute including second as and of we our in revenue quarter, we not of prioritizing XXXX. our strategies investments, accounted During benefit in time bunion-focused commercial the continued extremely our away the our from mix for pleased our and practices. operating key our saw but trends direct travel growth, XX% on their second from top-line and which We're expanding even to our QX, sales metrics, sustained positive XX% team, during only

screws, team and sold QX utilization of surgeons, complementary products. up our direct per users, surgeon the tissue-release of year, surgeon customers of prices quarter, $X,XXX an problem instruments, with TriTome solving X,XXX from new XX.X blended trailing our a active average XX-month ago. portfolio our and surgeon with per over number Lapiplasty QX, up as active in year-over-year average selling kit XX.X in on products, XX% representing as increases in X% kits Adductoplasty, year expanding broader growth the the of prior And our Steady our FastPitch SpeedRelease other ending kits increase sales year-over-year. such in strong educates A

Our the proven, and support well-defined, we commercial business, scalable strategic that a our of us to and investments strategy. growth have focus giving commercial have confidence continued

we market positive and million, initiatives to reflects trends, maximize to remain delivering XXXX modest these our to raising full-year million our of in Given improvement to revenue. guidance $XXX commercial which XXXX balancing our penetration aggressive are of revenue targeted execution growth expense to over We increase XX% an while leverage. $XXX committed XX%

our commercial to activities. development Shifting and market

more in our and goal we our bunion-focused the awareness R&D of patient have the channel, targeted previously coverage DTC we discussed, innovations of XXXX by increasing into advancing footprint the As our expanding our with market. initiatives, and investments targeted continued market direct penetration driving sales

surgery, years. has of in a highly focused rapidly aware bunion one We that is U.S. growing industry. team penetration on we're this believe and only at organization the meaningfully XXX% in our to the a midfoot related the and including such medtech that We direct and the contributed market have specialized revenue Treace, salesforce, past organization over

same quarter second year. sales from up direct revenue As the force, previously mentioned, period our our over XX% the last was by XX% of generated in

XXXX. data and programs. from direct sales added of as achieved that past, within suite cost with the fully exclusively sales reps XX revenue we and they're our typically utilize our focused on products our to increasing And continue leverage discussed reps primarily We the during resources demonstrates we've direct in our see productivity months, and corporate that significant scale historic because

and over and carrying with year year-end. direct With we've in XXX our a half, direct past direct with full-year target invested aggressively of over channel. end this year to a Further, ended from to join began having the We sales sales that QX. XXXX XXX quota candidates direct carrying achieved the by target quota announce sales by we've happy our of strong we're team, already our reps reps interest

from We in we modest plan sales increasing to that higher direct all and growth our while continue expense to ensure prudently delivering to opportunistically are revenues improvements channel. balancing leverage,

a commercial strategy. patient DTC initiatives Our component awareness our key are of

of hundreds our As you may recall, thousands our potential of website visiting DTC is resulting month. in patients investment in every

investments period we've one in surgeon to tools patient-initiated procedure, XXXX, easier make contacts the have with the in higher the as in incorporating new of our to four DTC Lapiplasty year. website, significant connect expanding inquiries from have we've the in volume base now in first physician we Lapiplasty With field that And for momentum, potential compared result, On year surgeons U.S. a half seen this same strong increase last digital doubled to national can this of a this which a more using it and than increased large patients on patients. our doctors.

integrated new questions both about potential the this support channel ultimately with answering with trained interest, area. and ramped as website communication Lapiplasty patients Lapiplasty basic patient with serves another goal is these during surgeons To Lapiplasty by our call a center for in the increased call up patient we and center. patients procedure This of further QX, education their connecting

informed Although of will early, we're who patients encouraged meaningfully number Lapiplasty funnel is this the by of believe and center increase calls over treatment the this the volume already time. receiving enter

existing broadening to continue a be increasing play and of patient key indications. effective Our new onboarding well-received. skills programs users surgeon and of These in education their the role training programs surgeon the surgeons,

introductory growth training see in for active the forward that is additional programs, this robust back executing period. both X,XXX online continuing to have Demand and in person, year up surgeons base XX% active encouraged surgeon advanced half for we and prior slated year. of our training QX, in and sessions surgeon we remains look to which from our the We're with

growing we clinical direct develop, differentiating gains DTC sets, increased patient initiatives. data our as supported awareness utilization by anticipate adductoplasty of channel, well use all our with as of products, expanding As of continues systems, further and portfolio adoption Lapiplasty our base surgeon sales and our to complementary

now strategy. to our development product Speaking

We both next innovations. patent committed pending. for with R&D to complementary and bunion generation have technologies team pathologies, our now U.S. industry We patents an technology driving applications programs well U.S. systems, and have leadership innovation as addressing bunion-related of XX as and to of our correction maintain new XX IP defense granted other development the

We new technologies. our product several the with development continue to pipeline advance of

Lapiplasty the incision the our reduce implant further advanced size procedure performed First, dissection allows Lapiplasty our to option incision our with System. tissue through is of and This to micro an platform. and instrumentation instrumentation Lapiplasty two-centimeter a fixation both the now exciting evolution related This designed SpeedPlate be patented procedure.

a designed our enabling surfaces. as standard is speed technology but incisions, for both technology dynamic not new can offers the insertion Lapiplasty since This while and Adductoplasty broad applicability fixation joint providing small serves And two-centimeter Lapiplasty rapid of implanted for micro with be plate fixation compression through also an platform it systems, only our System.

early compression positive, clinical dynamic to the bone also benefits with in preparation been SpeedPlate in response specifically is clinical been related has from with from SpeedPlate time QX. surgeon hearing regard the in seeing to and our that launch cases have SpeedPlate patients. launch users their to We're full the feedback provide. Initial for they're overwhelmingly performing received months anticipated early savings, who these stability, designed We limited for several surgeons positive treated healing access

anticipate to begin potential fourth build Lapiplasty We're our year micro to to of will XXXX. in the SpeedPlate the benefits patients. half first commercial this to about and continue this continue and quarter of the We micro combination excited bring could during the LapiplastySpeedPlate of implants launch instrumentation

less believe incisions procedure tissue dissection faster that trauma, with pain this even translate any with could As to and swelling. recovery involves we and smaller and less

develop pipeline continued We develop centered experience, upon market patient our improving our user will continue aimed penetration. our on technologies product our provide we new and as pipeline, to at surgeon IP innovations and supporting outcomes, core updates additional

new to and clinical we're a industry business we forward presenting the surgeons at patients body Turning A or ALIGNXD with can our Orthopedic AOFAS, commitment see data. what Foot to believe study from is and our data. in From on data growing primary with We two-year in American our upcoming believe data, evidence, driver including resonates participant September. clinical the patients. Society, both we for differentiating clinical endpoint XXXX only the Lapiplasty marketplace, key of Ankle which we XXX our to interim look conference

years five-year demonstrating ankle and later post-procedure. Building sizable number in foot journal. a in of have we the this patients for to radiographic is Although our three endpoint a clinical outcomes study and publication plan of patient-reported top-tier submit we now improvement two this, primary years, year, upon peer-reviewed and primary manuscript endpoint at this at significant ALIGNXD

This differentiated that ALIGNXD resonates is positive with adoption communities and patient XXXX. exciting our of enrolled five with activities from interim began reinforcing coming patient our of years milestone the Lapiplasty and Again, data procedure. further an first culmination we the surgeon is patient market believe in study strongly ago,

core the bunion I of quarter, MedicalXD, in investments transaction delivering FDA through end XD complementary or solutions. about for increase highly would unique our PSI, patient specific our which our also our like Adductoplasty is from adding solving marketed technologies RedPoint assets force. portfolio, this bunion-focused acquired capabilities well building Lapiplasty problem systems. pioneering which to strategy platform, is and R&D aligned to commercial and adding our cleared midfoot highlight sales technologies adductoplasty with our expanding to of an are to we certain This our related and We're core that continually advance excited and technology instrumentation, portfolio the Lapiplasty at customers, correction to upon procedures, direct second

in including Finally, services to its and recently for hospital, CMS used outpatient, case. Medicare for that surgical rates and note XXXX surgical implants the to supplies like cover procedures, I'd proposed released costs ASC payment facility

And codes. As products these covered a CPT codes rates that for specific, procedures for our report used in slated pleased reimbursement by the to single-digit we're increases. XXXX proposed low-to-mid reminder, are well-established are

single-digit Assuming codes increases proposed low-to-mid rates reimbursement of finalized, facility this CPT XXXX are will procedures. rates for a the continue with in our associated multi-year trend

of quarter with at proud of talented great solid In execution closing, team execution of our I'm Treace from employees. another

the Our top our strong to our bottom proven line. sheet, both momentum continue balance by strategic the supported on investments, drive and

deformities. We model fueling and care have bunion a growth strategy advance our the the mission related surgical specialized midfoot that's our and scalable and standard to correction business of in of

our review performance. I'll to Mark call financial that, turn now over With to Mark? the

Mark Hair

Thank price and you, our prior John. in increases by and growth second over million, complementary Good driven million, year. Growth selling procedure average adoption in afternoon, volumes to an everyone. of XX% due Revenue was quarter was the $XX increase increase technologies. in the blended newer an of $XX

utilization we second use procedure they we've quarter. increase about added prior years quarter, each which believe Lapiplasty, XX% reminder, Lapiplasty ago, On patient their indications number procedure surgeon in have due X,XXX total practices. alone, two to kits nearly a and increased outcomes sold X,XXX year and in growing versus years the in year's the we of is XX% a surgeons, the We As commercialized expanding our steadily or second of eight past the surgeons this Lapiplasty positive active average, active active base.

XXXX. X% over blended was contribution such complementary kits Lapiplasty from our $X,XXX, direct quarter screw as in surgeons with Blended the portfolio selling sales a average average TriTome our includes and system, of SpeedRelease price selling problem-solving expanding products, quarter second price our channel provide and instruments, This our as Adductoplasty FastPitch helps in an and technologies. second the increase from expanding

selling to decrease primarily we the to inventory product XX.X% The blended continue strong and increase quarter of increases our changes quarter variability some from there in average to could John was quarter-to-quarter. Gross compared be XXXX provisions. year-over-year but anticipate in was second XXXX. second point price, due mentioned As margin earlier, the of XX an basis in mix XX.X% in in

The million, marketing expenses administrative included sales of other million of $XX.X in in $X reflects the increased million which research $XX.X XXXX, administrative in second and expenses well million, $XX.X marketing operating initiatives. and million, Total expenses expenses million. innovation, includes and increase total of which and compares This as the expenses expenses sales expanding research general quarter in direct of strategic operating development for of quarter million, investments channel, were support second and and requirements, of expenses $XX $X.X capacity of investments sales expenses of million. and general our and as of $XX.X expenses development operating $X product the commercial in XXXX,

continued loss million, $X.XX per EBITDA share loss compared net period management million, compared the focus on Second XX% was $X.XX or XXXX. to year. our expense the our business, quarter, and improved net the prior $XX.X share, QX to for operating scalability per to $XX.X loss same of or of adjusted a in Due of our

We continue this to expect modest adjusted EBITDA improvement year.

initiatives. as and on flexibility of during XX, equivalents, represents decrease cash our and June Cash, of the marketable believe securities sufficient were which $XXX.X aggressively growth second quarter balance We executing strength acquisition payment. to have approximately million, we million XXXX. reflects sheet and strategic RedPoint the a $XX investments This primarily continue

outlook Before for concluding, let to me our full-year turn XXXX.

reflects of of full-year and As over million, full-year revenue. are are to an our to This to we raising $XXX strength is and John revenue to increase from increase mentioned, XX% the our prior $XXX by an encouraged which million guidance $XXX $XXX guidance million XXXX million. underlying momentum XX% business XXXX in

higher's with that half the of SpeedPlate, revenue will modeling product seasonality QX you the QX be of to to believe incremental rep roughly seasonality, occurred positive we year, help QX will driven and sales the similar new QX. including To impact launches, be the back by typical in tailwinds, and bunion due expect

be strongest these we will QX For again the year. reasons, our believe once of quarter

Turning P&L. of to middle the the

expand improvement while expenses to Therefore, XXXX. in overhead for our throughout adjusted and our DTC expect full-year costs increasing direct compared as we increase fixed will XXXX our We the investments leverage continue EBITDA to that operations still to show grow will expenses. expect salesforce, and we modest our of and further

turn to questions. With that, your me the to call let over operator the the open line for

Operator

you. Thank

by We [Operator while the will question-and-answer stand compile session. Q&A the conduct roster. now Instructions] we Please

Our Marcus Please with first JPMorgan. Robbie is with question from question. proceed your

Lilia-Celine Breton Lozada

you the you Hi. the actually for cadence question. commentary taking just guidance Maybe could is little if Thanks a This the bit and dig deeper gave. on Robbie. for into that Lily

you've over I able improve sequentially. XQ XQ been think historically, still to

up a the step see why third this into quarter year? reason bigger any we So should

Mark Hair

Yes. And us. question. Thanks great joining Yes. for

that. Let me is here. take Mark This

all, we are pleased second of all with the really the quarter. again First in execution

pro, volumes which quarters, on the lower the orthopedic prior And third quarter, XX% industry experience we've we're pleased have mentioned generally summer in traditionally does We really about. procedures elective the as sales during as months. decline

our this we past, to that And said we all on very strategies apparent And so, as to talked and us. about we've John those seasonality as past, about. to execute talked has commercial we've be continue the a scale with now where And we with in prudent guidance that at the feel guidance comfortable just become in want we're has as range.

Lilia-Celine Breton Lozada

helpful. out sequentially time, it. maybe And on continuing Got despite a That's little new stepped bit I that's down for think the you just first ASP, roll to products.

about and to any call there, the Thanks So keep you there should expand mind? to think continue portfolio, out so move can as sort much. be anything or we ASP to higher from here? you how that Do headwinds trending thinking in of are

John Treace

Hi, John Yes. Lily. here. Yes.

we year-over-year can in discussed So, quarter-to-quarter to SXA right with continue works over and year, coming lifts of to continuing our products which -- the to factors. that, of going based to expanding future others. end the some a ASP like We're see the to our sustain an screws, including and implants FastPitch and of believe got we we've time. our beyond we pipeline systems continue like but robust instruments, And launches anticipate product have ASP, SpeedRelease on you strong as Adductoplasty, SpeedPlate up help new portfolio in some will pretty the towards variability other before, from and mix our complementary blended see increases continue plating

softer penetrating cost-sensitive in get we're access ASC. operate, they on greater did access little focused market, add a QX to like of that, allow new we kit do get to Lapiplasty in versus on that an QX, really customers to our offerings to ensure this cost-sensitive our the settings even we A menu order configuration docs number these more to And in Lapiplasty to need wherever our more settings. can surgeon color to and ensure

on ASP. did really be seeing a bit our but the of we it QX we're believe what short-term blended swipe little a here, to we're pleased And with dampener success put and a

Operator

Thank you by next we get question. for your our question. Please stand while

with question our Stanley. by go Please question. stand comes from Ranieri ahead. Drew Our Morgan Please next for next

question BTIG. with next Ryan Our from Zimmerman comes

Ryan Zimmerman

Good evening. the progress. bring Thanks of on ask we be educate to pace to I a doctor about you additions which saw around the and kind for your the John, congrats just of taking going the that questions physicians this quarter. And and get thoughts cadence forward. users expect Lapiplasty to in at little want bit to

John Treace

we Yes, Thanks through the with make Ryan. surgeons. on surgeon the events. really board doctors question. our additions new new ads of quarter-to-quarter. training Sure, put ended we about annual doctors, reps, our with Surgeon as to good continue quarter active for relationships those We progression X,XXX vary new from feel our may

the from this office, we're relative the sort and on good example, number travel year our of time second and the away For we but surgeons during patients bringing feel some saw to we expectations. quarter, prioritizing about

about As we XXX or recall, last you we about year XXX so. added in XXXX, and added may

rep at the for right events the slated from very track is for and this look half Boston, tell can additional attendance on in the training example, remains year. executing a oversold can really the by I we're for very, we you our training like we and enthusiasm and I you events and back strong. have our weekend just feel surgeons to we surgeon returned training on event technologies of a high, differentiated there. So forward tell I interest

Ryan Zimmerman

Okay.

John Treace

market run. right I place So surgeon over to utilization the think and long got strategy to continue overall, we in the penetrate the increase target

Ryan Zimmerman

from if more And I could. That's helpful, John. me two just

for one as products, just, of mid-foot how new there's in to example, and about is, talked add usage, not you is you've of one a penetration Lapiplasty maybe And of of long first there. get the Adductoplasty XX%, System, the you plate, could runway kind product, right? deformities. say, things the you're The speed eventually that And there the the micro-incision, yet

with of Just and about help newer adoption be these kind over us how understand their of you kind of launch products penetration rate some the time. where think they as of you'd happy

I assume time? about over would don't reasonable cases to you. XXX% but of then I thank it's that mean, adoption think products question I that for use necessarily, of right expense the an all have Mark, what's to And think those way kind

John Treace

to about affects like Adductoplasty an that of things with specifically midfoot XX% Sure, bunion going patients. deformity

time tell so at customers foresee using some point Our us Lapiplasty on half of in it those, of could cases. they their that XX%

this comfortable I train the get here? this to lab, are doctors you why continue Boston one We more more with doctors, of them at procedure. asked

And done to he I've a of more want experience. get couple said, I Adductoplasty,

wasn't I I this have knew think fix. do or operating is on, I refer on patients that a to bunion it breakthrough. to used comprehensive either the would I and a I'm only

this we and works. have systems more and more traction So Adductoplasty next-generation the we see in gaining

to quicker that Another I that pre-market and for It a be our goes of really the in is smaller think in Adductoplasty some platform are in key and plate used than liking SpeedPlate. speed current could cases because catalyst be cases inserted plate implant through doctors our there going as application incisions. some

it I'd to the it which I us way towards our pace time. would XX% that occur. work would So exact like you at tell over see can't just

Ryan Zimmerman

Right.

Okay. for ahead, That's go John. Mark, then helpful. just ahead And go

John Treace

lot customers could get to the of want the of I way an patients. This quickly. for go overall enthusiasm community pretty is doctor have the that have There's saying. used most and that technology lot about that sales could SpeedPlate of as reps a traction from a get my platform significant

we looked that for platform embraced but its on. maybe fixation faster, to offer don't because steps, plate. less and in Lapiplasty coming that have like speed Not the make really procedure options So, we're different haven't yet ability something only about bring customers on excited new

Ryan Zimmerman

of for there. apologies the gun jump and helpful a That's

last I'll hop queue. back for me question Just in and

pulling about thought additions versus And those through kind pushing me take little and and DTC bit a Mark, leverage. headcount what terms about guys. as maybe Thanks DTC. pace additions of do Just or your headcount ramping need you on further maybe taking what for components ramping you're to and questions, of think how the process in you expense versus the to two balancing of in slowing increases

Mark Hair

is Yes. and something Great business? the it's and mix I about you past is question, DTC talk the the about DTC is, working said the educated into what of so right in is, of all our platform. is Thanks, profitability that Ryan. tell the commercial that and Lapiplasty can benefits direct investments the execute for helping those our been the objectives now I John right primary that really be have really sales and channel often our what business bigger and to patients overtime the of we've us. And And on strategies of through building

things. those do to continue we'll so And

in past on profitability. have call eye about we on remarks compared have this want the talked leverage We and to year year. last We've and an that this prepared the to

on still that. so, do And to we're track

we strong we announced line EBITDA perspective. from as some that today Again, really improvements bottom had an

through to both we sales our John, on line. and leverage to helpful customers really to So, be are direct little the a drive execute do to bit said, surgeons going products primary become our and to customers. And are want with surgeon really can reps who is to the that line to bringing as objective more to we we of really whole introduce think in top continue our surgeons that portfolio useful more going with new our be top

Ryan Zimmerman

questions. taking Thank quarter. Good you. for Thanks Congratulations. the

Mark Hair

Thanks.

John Treace

Ryan. Thanks,

Operator

our [Operator question. we stand while next you. Please by Thank get Instructions]

with Truist proceed. Our next Richard Please question comes Newitter from Securities.

Unidentified Analyst

question. taking is actually for Richard. Thanks This the on Sam Hi.

Just like to of about factored a harder accelerated half, coming we guidance? the second Is bit sustainable a and little half looks against growth up about on into basis bit growth question, should level easier bit should components second of lack the of the ASP? ASP on an through With guidance we unit comp little second little it with capacity. the this comp in then with how the start a that's unit a underlying softer think out and unit growth think growth half in

John Treace

there's about that there. to think complementary I believe John, beneficial, ASP, we're we ancillary, respect think With these that, very I couple offering a questions talked that products.

overall, that overall going we're to to products fluctuate going are offer to that's from add quarter-to-quarter, think blended going so, our time. to over time-to-time, continue from ASP we to And but

So that's going to continue to happen.

think cadence just the there at QX, feel we that QX we As some about versus of business. and scale volume, the a this is really bit, little do mentioned seasonality I

guidance good about which so And we QX feel really consistent what we levels gave, is really volume. of the with

to blended very into similar that's going as So translate well. volumes in unit ASP

is the So going be we're about pretty it's thinking consistent way to QX.

Unidentified Analyst

have you weighed on new then And Okay. may a setting little bit had mentioned that price. a kit for ASP the

should sustained forward assuming we a taking more to be impact Thanks on see. expect we of Lapiplasty mix today going growing for why curious a given, should that the question. Just I

John Treace

lasting and complimentary the wouldn't to going the be to outweigh product They This and say it's to our term Sam. John. on long Hi, sign GPO tend is dampeners then ASP, product blended whether we see dampener. I Yes. We contribution a agreement. tend short starts a to new those be dampeners.

we're uptake it's I'd offerings. strong that had really product. thing a kit number say volume menu do our have with got from with bit to So, that we great little pleased a of to the in it incremental and

Operator

Please you. question. for stand next your Thank by

with Sellers go ahead. Please George from comes question next Stephens. Our

Unidentified Analyst

on if two osteotomies ones on George. about talked for of Harrison, on treat, select one and more time to and Lapidus treat then then both all XX,XXX and the the populations is sort could you the out fully for surgeons mix a surgeon maybe those those wondering the you start use if thanks taking then cases more to quantify primarily the few often in sets could surgeons that fusion fusion Lapidus you distinct bit on procedure. who the adopted for and you point I this of my was are This reserve the total, severe taking for Hi. penetrated all the more and have quarter wanted out markets. Congrats the in how patients at of little who and break to question. hand, have the of I parse

John Treace

bit. Harrison. clarify try that I'll a John, Hi, This little Yes. is to

would the numbers. do pretty a for for more more prior With we correction. camps of it You certainly fixing majority third for through by the a the this embrace Lapidus the tend through and two-plane training have better of less you the those with programs fusion so surgeons and bunions they that's products. osteotomy Lapidus quickly majority programs to in training that minority, the their is more that It's of are where for -- make procedures. excellent majority all they of fusion-centric then been Lapidus surgeons of what way our was of group procedures of to bunion, as are type severe to and teachings severe, our inroads the But both Lapidus the osteotomies that primary the view that latter have XX,XXX their Lapidus-centric just been bunions. a say to the way have and correction a add that plane educated for severe I are into the and surgeon, more have

and embraces over get time deformity on work a camp which they typically And And osteotomies and percentage and might the that Lapidus more carve patient. and the So of do educate then then with pretty over practice we be a of case, more a them osteotomy severe overall to their more into next more quickly. group, we other their to higher their get Lapiplasty relative and time. start they procedure proficient

Unidentified Analyst

a those as there And Yes. surgeons, of you. in are sales a specific did as sense. sort you wondering surgeon there, then do they to of reach to choose surgeons or That I did to follow-up those just of as different Thank do after or surgeon, out force, types possible? many really makes was your trying it. all go type Got

John Treace

case. say with have Lapiplasty, and to, be to typically certainly Yes, take great opportunistic never bunions. bit the surgeons been question. that performing utilization once sometimes we be to a they but successful on hard embraced up with philosophy. and surgeon it to can them help philosophy, And I that's the our getting them them getting the busier mean, who we're approach. get a trained surgeon we very ascertain We're embrace selling boarded, trying our a approach, trying they've that curve they and are And -- data but quote, them get can

Unidentified Analyst

questions. Understood. the Yes. for Thanks taking

John Treace

you. Thank

Operator

stand Thank for our Please by next question. you.

final no time, Please I'm Our this from Stifel. questions. At with Wise showing go comes Rick further ahead. question

now turn Julie for over back the I will to conference remarks. Dewey closing like to

Julie Dewey

Treace joining today. for of behalf thanks Medical, you. us Thank On

to call If follow-up you. our please you out, the talking concludes you more today. for quarter XXXX. look have third reach we'll to any the Thank of and forward This questions, call close our following

Operator

Thank you for participating.

You now may disconnect.

Treace Medical Concepts (TMCI) 8 Aug 232023 Q2 Earnings call transcript