TMCI - Earnings call transcript Q4 2024 | Treace Medical Concepts, Inc.

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Operator

Welcome to the Treace Medical Concepts Fourth Quarter 2024 Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Vivian Cervantes, Investor Relations, Gilmartin Group.

Vivian Cervantes

Thank you. Good afternoon, everyone, and welcome to our fourth quarter 2024 earnings conference call. Participating from the company today will be John Treace, Chief Executive Officer; and Mark Hair, Chief Financial Officer.

During the call, John will offer commentary on our commercial activities, followed by Mark for a review of our fourth quarter financial results released after market close today.

question session a remarks. our host will and following answer prepared We

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

results or current on statements. filings, statements should forward-looking Please implied update these place statements. Accordingly, those and these to our that our today's no Securities refer to Before begin, well statements market call statements. including call predictions forward-looking assumes trends after XX-K XXXX. protected are from the differ reliance Private to our for our found full the and Form undue is information estimates performance could will involve events or XXXX closed or Reform or like over our presentation Medical of section year detailed available and actual all are Act forward-looking Any upon you not All that to be by statements. be obligation now anticipated as and to upon we these events you that statements as remind forward-looking a to statements our based SEC are risks Litigation estimated and statements the of of would today assumptions. These that John. material it All materially results website we I'll expectations can various in filed turn intent Relations for current Investor relate forward-looking made investors.treace.com uncertainties Treace during under future based the market of at that, cause risks. With

John Treace

ready audience portfolio of aim firm quarter patients call. We our expert thank needs needs Good of performed our base we've footing bunion-focused of and afternoon, our to understand with joining with focus unmet our earnings worked surgeons solutions. executing XXX,XXX expanding close comprehensively clear on and delivered innovative on everyone, technologies the agenda With closed best-in-class partnership to our over by U.S. Since in we conference team, you, of bunion XXXX for X,XXX on suite address started the the into on you in growing serve our an XXXX cases growing to customers, bunion penetration for evolving XXXX a Vivian. and annually a Thank and inception, market. the us out in representing with our surgeons the bunion accelerate surgeon sales large fourth

a solutions, business paper classes U.S. of solutions, In by deformity fact, are our tenet key instrumentation and funnel Lapiplasty size but deformities, make time giving technology be Lapiplasty these to of strategy year. flagship This is of each in spectrum XXX,XXX reach million through and our market the published Lapiplasty has been incision our comes coexisting portfolio latest adductus. of peer-reviewed the to innovation the X with our to bunion strategy Adductoplasty, a X-centimeter to said, now required bunion both bunions believe leads patented in today, which X.X quicker option. Building the over as discrete address a attention a can great Board our we medical of to X/X surgeons Accordingly, on Americans our pain our late less coexisting performed different innovative can incision to with needs of introduced the describing bunion for broader in broad procedures of system bunions classes seek flagship the we options X over empowering years, and and specialized patients. A more translates their included instrumented that invasive, deformity X the first with arthritic position several classes of the last XXXX, product milder disruptive procedures And implant more makes midfoot with a our patient. of for during a specialized patients share reducing system Lapiplasty the a portion known XXXX, long-term extend with coexisting it's less bunions deformities, reproducibly market our all we period. addressing addressing since and late by in leader which today. metatarsus XXXX up And treated to midfoot class dollar not classes, recovery today, expand bunion a strategy Advisory all of become our to toe Surgeon with bunions and that and the severe only in we've nature, our serve it bunions correct across spectrum attractive believe times only who surgeons bunion of with X the way the larger innovation micro a over joint. When appeal deformities a over innovated

in recently customers As while sub-segment this is surgeon allows who procedure to the is a many bunion present of choice, to of of smaller many incision, class their which XX% SpeedPlate to for XX% introduced implant midfoot our patients in surgeons a this treat Mini-Adductoplasty, patients. this procedure the bunions, osteotomies used reminder, leveraging drive our metatarsal technology. And of deliver deformity as our through class. And milder to invasive most go-to less are within Lapiplasty prefer there significant up patients of with be approaches, by performed we

reminder, a represent minimally comprise today. sub-segment. of fastest-growing osteotomies cases estimated these surgical osteotomies surgeons, an metatarsal for the As the XX% bunion invasive And

to these recently the XD systems. we new X of osteotomy surgeons and introduced So preferences to and patients, solutions their differentiated appeal our and broaden procedure

freehand XX% conventional of techniques. with the difficulty metatarsal we to is minimally approaches. broader the all adoption with that estimate biggest are today or XX% osteotomy and believe of curve to background, performed we around And For being the osteotomies learning MIS MIS invasive limiter steep associated technical

and to learning surgeons as For to Treace XX and landscape in a once challenging base market-leading for surgeons this of confidence, as by with done Adductoplasty these about control see broader MIS ripe we've who and become Lapiplasty osteotomies our talk with opportunity We a doing democratizing be and them. to techniques these example, do a operations, allow XX the just teach procedures. effectively proficient to change to continue curve performed case

to Our and approach of possible MIS the with anatomic faster consistent our user-friendly to bunion complex make and order surgeon. is in patient instrumentation for philosophy these to enduring osteotomies achieve procedures most correction controlled, outcomes the reproducible offering designed X-plane

pain for the result very both Our X MIS patient. quicker through performed small we in incisions, appealing and new recovery less osteotomy are which offerings cosmetically believe XD can

rotary offers learning powered Our burr, used procedure Nanoplasty, saw controlled X-plane cut as curve. to utilizes MIS a the importantly first instrumented most for and osteotomies a is a system, and powered the opposed to today steep is for which cutting familiar known bone

a For bearing to implant locking with early fixation, screws stability titanium utilizes and healing. during Nanoplasty support intramedullary weight

MIS conventional the cut platform, second to Our for to a for the osteotomies, approach most Percuplasty, powered screws standard who is the and freehand namely use be to the new cutting less MIS surgeons already using procedure fixation. X burr bone essentially designed instrumented

of elegant results, As the that and pioneered correction is greater to confidence instrumentation and Treace with Percuplasty deliver important in delivers consistency dial to allowing X-plane effectively known Nanoplasty, the surgeon control, for.

limited new to its surgeons This segment, option round system in innovative with a next-generation is for design for that healing. market And this a unique with implant for support or by our combines implant. release. patient great uses at joint. compression And screws Percuplasty fusing low of segment for arthritic class our of our toe treated our technology extremely joint. Targeting bunion also market-leading name typically stability a early patients. and MTP a This fast fusion patients to new out fixation to during bearing titanium locking very provide we weight stable additive the portfolio bunions fixation, itself, an highly indicates, surgeon a For comprehensive with with SpeedMTP profile it's that screws the to introduced sizable SpeedMTP these provide coexisting we joint MTP SpeedPlate is is as solution surgery. of X and toe recently

all we've with surgeon annual share average surgeon from customers. XX% responses early these our across As preferences in maximize cases. their X solution. offering targeting of In past, about capture the X,XXX-plus on captured to and bunion patients Treace in procedures Lapiplasty positive technologies our customers classes, technologies customers surgeon we estimate remaining new and believe of are our dialed X the of stated experiencing new market-leading both that specialized have we existing our very new XX% bunion we we on We're of these

supply impact back and expect year new the expected through with half the we ramp more build as our first revenue in these availability progressively surgeons. We of offerings half the train of to increasing

from and of well representing continued shift and active slight strong adoption to our the that Turning XXXX by at of the fueled to QX previously $XX.X $XX.X fourth quarter revenue $XX.X to continued was top results quarter over by was product Fourth and growth million, end mix commercial announced million driven growth our of resulted preliminary This quarter. from the Nanoplasty, PSI such demand in access SpeedPlate, million. market and as early our offerings, complementary Percuplasty quarter XX.X% SpeedPlate, in execution MicroQuad contribution other IntelliGuide users our as increased of surgeon technologies some newer Adductoplasty for of surgeon releases as limited product increases technology. the

enter we back inventory We of for the XXXX. new as half products expect levels full these

Turning now reimbursement. to

significantly As Lapidus announced, January the code outpatient predominantly Lapiplasty material reimbursement CPT settings the associated and in code CMS hospital ASC Fusion with we this year. effective or previously increased of both for XXXXX, procedures

progress development, and early year. us monitoring the a the in it's base to on update you we'll we still see assess our very we the early too impact. as year trends certainly positive While We're and for throughout customer

Turning to our outlook. financial

to initiating are which XX% increase expected to XXXX guidance revenue X% million XXXX $XXX our reflects over of of million, $XXX year full an We revenue.

full expect breakeven about our setup EBITDA. adjusted For XXXX, good XXXX. for the feel We year we

to and surgeon execute of ready markets. best-in-class to robust bunion penetration in specialized active puts We targeting to in our unique instrumented leadership the speed midfoot a solutions to broader position our continuing overall and X excited Lapiplasty, bunions While audience offerings our classes sales our Adductoplasty market, portfolio strategy over our related and extend our X,XXX us deeper into all team technologies believe is portfolio and drive customers. this of of captive market SpeedPlate of powerful to market-leading highly and deliver the

turn me the performance. to Mark our to call Let review financial Mark? now over

Mark Hair

increase afternoon, by John. active an was surgeons. quarter adoption XX% Good prior year everyone. period. driven our and newer and you, the $XX.X and in product bunion was increased Revenue procedure a in fourth mix shift, million, of technologies $X.X of increase Growth million sold Thank the kits over

pre-announced our revenue fourth full XXXX. and year of our to quarter at million, the and revenue top $XXX.X to in revenue $XXX to of XXXX of XX.X% XXXX, million For expectation XXXX million XXXX was was XX.X% million million. Gross over of prior increase compared guidance the $XXX both the fourth $XXX.X quarter the range in of XX% $XXX end margin a

offset by reflect initiatives. lower XX.X% gross on margin For fourth in newer the million expense XXXX. and XXXX the XX.X% was compared XXXX. was reductions full the shift innovations of partially continued in product driven year rates. Total gross These royalty change quarter million in management in mix product provisions, compared operating in to to XXXX, inventory $XX.X an margin $XX.X a fourth The quarter increase to expenses of execution our by were

the full in innovation operating XXXX. were for compared full stock-based million million quarter and XXXX. $X.X operating of $XXX.X or the expenses quarter million $X.X initiatives. Fourth fourth or investments year expenses reflect to $X.XX share in $X.XX expense, support year For was net in a product corporate per loss $XXX XXXX, compared in net share The increased loss other increase million compensation to per

loss XXXX, or per XXX%. million the or of was EBITDA million improvement share for XXXX. the $X.XX per the an $XX.X net fourth to compared Adjusted quarter of For share a full XXXX, loss $XX.X in quarter in year million was to $X.X fourth net compared $XX.X $X.XX million

XX, of improvement million in XXXX, For adjusted EBITDA the to were cash loss as an compared annual through of The and including a December million of million strength revolver. of cash, for future. marketable $XX.X $XX flexibility of and equivalents and XXXX, to $XXX our continue securities December XXXX, access is and initiatives our sheet XX%. Cash, investments believe $XX.X was an additional sufficient existing executing the cash equivalents securities on We strategic to full will effectively approximately of cash our balance loss million as balance million be XXXX. year marketable foreseeable $XX growth XX,

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

year XXXX XX% reflects full X% As to increase over initiating guidance $XXX are expected revenue. John XXXX revenue to which of we million, mentioned, our of $XXX million an

we cash to XXXX. With line addition, decrease expect me open to for that, year operator the XXXX for and XX% your by adjusted the for EBITDA let full approximately versus over year call expect to our In XXXX breakeven full burn turn the questions.

Operator

[Operator from Instructions] Zimmerman from BTIG. comes Ryan first question Our

Ryan Zimmerman

want and cadence I bit a talk to with about start year. guidance through for the the

in You have comp first arguably your quarter. toughest the

of I'll year. the it revenue, you seasonality? balance upfront, pacing of think through Will given give in linearly kind we And of year? us first there. quarter accelerates just thoughts through kind just could about ask the so it be if should of the I'll down the XXXX And then start your the

Mark Hair

sales pleased our with lot in Yes. team able first we'll our technologies question. fourth to that of Ryan, me has for provided top-line say results, really how that and just grew quarter let be from all, this Mark. how we're R&D the benefit newer a of is And XXXX. Thanks the

cadence far that's about that we've As going us. hit that, goes, for already as QX, it be comp you tougher talked a to

And rate. had QX, post then there's conversations last definitely a we've those. growth we've been so to having opportunity think call have And higher those and more I

our prepared XXXX a back of this a for story of year, John it's of his said more in and most Now it half story. remarks,

QX, by being feedback opportunity in want we We're new a get hearing updates customers. year. looking an give linear a But to it more each give we'll But further QX have I to so think X. some like our more tough time, little bit But definitely rates on hands what growth not into we to And at a the customer and as more products our to how as necessarily then now, and is received X there's is surgeons' at grow the we'll we're higher great a into we opportunity said of able feel products be bit then are be in to these detail. But little increase quarter. as definitely you new comp more our back get half able step-up year, we'll these we and this of have for already.

Ryan Zimmerman

And about pipeline, a the helpful. I John, impacting those -- ASPs, think Okay, product the about we then it half year mean, from when growth you, the perspective. in the for about talked second about you think potentially But we to about I cannibalization. model, unit think our think and volumes underlying that Lapiplasty risk about comment when comments, we we of think

a guess And through us have ability those from you so what how broad of you ASPs? perspective, think is think pressure Is I your products higher there? volume, is train I'm offset of kind potentially by to product on And those more it underlying downward metrics? stroke surgeons there for because Just about those some help looking maybe more parts. some out moving of impacting

I be very would helpful. think that

John Treace

get blended comprehensive that to being happening -- being their procedure of us. From necessarily this together and MTP a now got initiatives of well. the products, I shift in standpoint then for big I mix, more and to this one further minimally I of their in bunion are ASP. sales there a are I these we you. to at of we the had there's big and going -- play pricing severe in as joints year. midfoot new We've of volume in going more big Ryan, get where penetrate impact, but called to these being attractiveness this osteotomy don't through think seen course the said more several technologies we Adductoplasty sorry, see events Adductoplasty, invasive serviced And attended of able be We'll we Nashville, Yes, channel portfolio is work with great it's in think a needs our out Masters a dedicated one good needs, over comprehensively be season. Bunion in ahead harmony their years. The I'm came end with QX, we're opportunity impact of arthritic these as address right multiple best dusting line-up get we situation training in bunion there more QX again, a more of got QX, course, I've comp. the a surgeons from into meetings surgeons the several, surgeons little as a impact we'll Lapiplasty, needs, couple over in. to instance, a QX trained, correction ago get to but XXX a on coming products We of for little training great And little QX. and talk Sure, weeks as sure. have get to these the for

perspective, minds that more around our are approaches MIS in So the hope a guardrails and Lapiplasty. relegated osteotomy of kind you Lapiplasty but between I gives being cannibalization where moderate to there concentrated end, natural surgeons' where to severe the spectrum Lapiplasty. MIS osteotomies be mild we're moderate more of severe with are penetrated the going end to that to targeting more and most these there, least

So up set again, really is think nicely. everything I

really very Orlando going the is this bring. and a force in excited. we're to We weekend full sales meeting fun. portfolio see a it's to can got lot excited this bunion impact Sales think of I that be solution is high. Morale very comprehensive

looking story. So maybe for, a a little were you more but I'd I give than you thought little

Operator

comes question Lily from next JPMorgan. Lozada from Our

Lilia-Celine Lozada

shift come focus. profitability, to greater into obviously just that's Maybe to

coming have year? that X, behind? What's invest thinking thinking growth, market to components reinvigorating driving about P&L? especially all the you'll balancing So leverage you're could down the have different products with about you these this to with part And that you're leverage how talk through the how you that new then

Mark Hair

bit our sales very of some direct it. maybe follow-up And let a public, when we Lily. went and with them talked a direct and begin initiatives John team. can of We've question, our large sales grow little channel Great one was and focus areas, about, Yes. to me

we've lot of And in made a progress so area. that

that had aggressively And so way we the that seeing years. a the of we're no is leverage building longer team we prior lot in are

natural some there's experienced that so a very leverage from And force. more comes sales

building our commission, as much just used we're on And force a higher pure percentage have aggressively example. not we to. that's We for of sales as

our of and We've to of very improvement in going time and in sales at of a but are to grow. see you'll really won't sales to a impact we're the the see going customers. natural lot leverage marketing line, built lot So That's building that's time. that and be customer spent the large where this benefit over a very point X,XXX we channel we've base, ability

lot And now direct sales customers just force products. it just so surgeon now of provide incremental have our costs more a doesn't to our and

And so progression. it's a very natural

And see that this so see why year. we'll throughout believe improved know we leverage that's and we'll the that

to And adjusted in EBITDA so XXXX. that's we compared XXXX why our improved as XX%

so remaining year we're in getting And the this XXXX. XX%

Lilia-Celine Lozada

Great. docs about still you these that the early the And or some you some may of dynamics Maybe know it's last since have the new osteotomy some launched? to year to that Lapiplasty feedback and with products? early talk competitive seen of these just seen either new you've trialing but MIS to follow-up. of have competitive back can come lost products, in some launch you you've I of

John Treace

hands They're and been under Sure, is as These postoperative the they're some years. and early seeing worked numbers several x-rays. those John. We're belts very for sure. users' entering feedback on early This very is healing surgeon refined have our we're hearing positive. now now. these getting we're bone seeing The on products

more customers is and portfolio. new us to have this really position going we're base with customer confident our that reinforce So diversified and help now we broad that our on bring that

-- We the in other strength noise earlier really fourth haven't of Lapiplasty months any the seen of in far products surgeons That's competitive your from to or coming changes quarter. lot that lot addressed hopefully, back dabbled a of we question. quarter summer in the fourth competition, during As fourth out occurred and kind a competitive We the real that saw as quarter. the abate during mid-XXXX that busy with discussions. level saw

Operator

from Kallum comes from Stanley. Morgan question next Titchmarsh Our

Kallum Titchmarsh

to quick bit thoughts quite keen call. me I we've for it's But Just to and asked any so one hear term been if on of the I addressing how on one guess, worth term on And potentially some at all? your then longer dynamics something from basis, expect the Paragon clients, was thought a it shorter competitive change benefiting a both Zimmer disruption? on deal, you this from

John Treace

we on Thanks Kallum, it's effects have join business growing comment line, down, running a for point. our have market the John. plays we'll and heads see -- as lot out We've our the the probably and at product companies really how on got question. X I the up. there to our to formally this just don't acquisition those

Operator

from from Securities. Richard Newitter Our next question comes Truist

Richard Newitter

products? recurrence in think to that going I'm clinical just out and think going that capitalizing about segment? physicians It Maybe versus recurrence physicians appreciate the of osteotomy. around the that I the elegant start procedure right was Lapiplasty and easier they're the to versus to to I and initially time utility to just patients with the from osteotomy product, people value over actual for just have the was guess, lower you your to you're But Fusion solution better time differentiation your what remember going to are condition traditional trying outcomes osteotomy that. were towards, show back do the surgeons, probably osteotomy versus propositions more product one I rates rates or here but fix. trying off it's clinical traditional were for going with, benefit Lapidus getting is appreciate the on that just products not versus bear clinical that are going I to over

John Treace

Yes, Rich, amount. a great question fair one been we've and John. answering it's

the the focused greater is third in correction. in that's traditionally the we're other invasive minimally planes been the procedures on a of something The thing segment. way plane, we're plane to the about along rotational degree, the that's important X osteotomy approaching osteotomies And particularly with our fixing not

X-plane we core the in So built was and and correction. pioneered developed market a Lapiplasty philosophy into and our what

the taking over invasive rotational well. as fixing we're So that X-plane correction in literature enduring plane long-term, that scientific good believe approach the that and We approach. papers it X-plane the and minimally clinical the more making indicate a there's makes

through for we be not more enduring if a developing in not believe correction, to game. a X-plane surgeons, best do we've believe it really, world-renowned may that, we've that great But what well-developed And for So helping be ability if foot got we not surgeons minimally as we're and out. it instrumentation. really train invasive the equipped can done some of we now the we roll products these

So that's approaching the it. way we're

Richard Newitter

And as looks it it. has Got first of the million $XX about like just just follow-up, then 'XX. a quarter the consensus for under

as reasonable does your on quarter a, seem I like that. fourth be the on how XQ total? weighting growth the comp. year is as rate, view of plays of year-over-year a X% It's year the from down want just tougher a from then So that percentage And a just which XX% get XX%, thinking out, a like place? to should we a your of

Mark Hair

Yes, Thanks Rich, question. Mark. is the for this

So compared really year what in growth quarter to it's XXXX. said, strong We QX be about talking going we've hey, low-single-digit we've is had a QX. probably QX rates of last to been year-over-year

then ability been it's there. so we've grow have to and from and low-single-digits expand we And saying probably the

tough not the over all, I the tougher comp. It's get a quarters have to going in for opportunity remaining we've rates be of, in it's if this somewhat got be to like to comp double-digits then first. With feel we're we to similar in just growth there's real think going And most a fourth quarter. QX, respect the to year. the So

year. and that progresses will little see its that bit far see talked are tough as range might the quarter be is adoption getting surgeons, that. as for give But color after as there. of new really way than into hands a each And little the be the I QX we said. the think more we'll quarter contribution stronger what some rates full the in as But quarter somewhere bit you improvement so about it I we see in you here. It these think it. that's And then products every we a

Operator

question Our comes Antalffy Instructions] next [Operator UBS. from from Danielle

Danielle Antalffy

way to broader surgeons a the nice like there? was potentially And I hoping end that as John, Congrats offering, see up could to osteotomy, us, to product many year. And opportunistic alluded I little to for surgeons -- your how you see transpire? of you I pick And on a wanted could comment to sort then to one quickly bit frame as whole. how something if the a getting was a you have devices that there new like follow-up.

John Treace

the that's reasonable Sure. about surgeon during question. of Danielle, talked add base thanks XXX for We year. roughly our this adding target users. to think year new to surgeons the for We a

the XXX,XXX think we're we're I XX% of of framing technologies, procedures. think these new going we after the when about side the portion the market that really targeting with

we of segment today a penetration Lapidus about X/X procedure the basis. on nearly think have we So market

in we there, -- more bunion end have very approaching pretty market of So that I share said, we're XX%. concentrated the and the of to total market severe moderate good like

opportunity to to with continue of But larger innovating the those drive and these opportunity to now Lapiplasty segment around Lapidus we're Lapidus going is we XX% iterating several the we're overall this and if amount Adductoplasty that Lapiplasty to which the XX% procedures, segment, get share on big of segment we next building can to another could did revenue with years. in million the a for market, really is penetration new that technologies into we going that the we've available So keep on into market, like drive like of and always targeted over of larger XX% got potential $XXX of that volume have. to if us. And focused additional we're

our really ramping classes So lot targeting X is these the into segments we in more on market. give shots portfolio goal going of to penetration believe overall us a the this comprehensive bunion

Danielle Antalffy

Got you.

example. then or my to in And -- helpful. maybe of -- guys But higher a the anything reasonable competition at I the rest from ankle, know X lot you have the for at level, how the today away anything based technology bunions runway to you and a that, and guys attack follow-up of alone, That's think years next about there at I a guys but give And like question what what have but looking and Okay. throughout over want is is ankle? midfoot, I don't foot you you guess, talk total and on and foot the in-house look perspective? to you opportunities the

John Treace

of a as years. working we've great got the -- year to I'll business. what products more pipeline 'XX we got of the a the very I product for leading to last growth on Yes, continue are R&D throughout coming and that And best this try fuel We've been have that can. We've going and one. rollouts beyond advertised. on robust programs 'XX deliver into active we've program to X from

look you'll core what our I you markets. at we see types look into where see, So and think if innovate bunion speed penetration of you'll midfoot products will that to and

technology explore needed. we we But in a You'll we bunion And the ankle look needs and platforms the a also of all see least that really so to term, I complementary opportunity comprehensive introducing of the several on Longer fully go at in one-stop for to a how line obviously, if become related at ton that we shop see their capitalizing not of allow anchor have really to core moderate incremental product for reps we're base. procedure that more there's new can areas that or us targeting new back next for the then that term. and years our service foot midfoot to the cases. That's opportunities case with products other need tremendous elsewhere. bunion they more surgeons' it such a and there more near described what procedures can just

Operator

Lake comes Ben question next Markets. from Our Haynor from Capital Street

Benjamin Haynor

like? And those what early me, characterize offerings sense maybe like? look see Lapiplasty? do ones the XX% have off your maybe I utilization they First their you Are the their Are a you dabbled look folks cases are what osteotomy the are for can us you know What Lapiplasty? newer of like? give they thus ones does offerings of and and adopted can osteotomy it's of only days utilization that look doing with the that surgeons in but have all, that far? from that those folks

John Treace

Yes, pleased John. you This online is to here. meet Ben,

As specialize group surgeons osteotomies invasive modest with we minimally systems, minimally that surgery. osteotomy our new in conjunction out rolled them really invasive in osteotomy a and of developed we

tend to So that they technology. utilizers be of very high

Some some more of than practice, them actually degree their use to others. some in do Lapiplasty

Lapiplasty osteotomy the continue and moderate to expand MIS others. our bunions have the more we As products the practice. so minimally been invasive the our we customer we've to been that and our that for we've severe that in of those have on doctors utilization giving can osteotomy a are to that blend void bases' Over range segmented balanced business, that end lower earlier a for arthritis customer's believe bigger for of Lapiplasty more solutions those even our the we'll of and great a we'll have of fill access user base, toe time, SpeedMTP

Mark Hair

how a Ben, this just add for I bit bunions. is is John have treat criteria thing said, And wanted surgeons Mark. they -- that there's that to different to different little one

after initially, have of specifically, initially, are osteotomy technologies who the kind severity guardrails way alluded primarily And minimally as those after far those segmented distinctions marketplace -- as do and to used are like there's lot it more question when John there's too surgeons going invasive because the answer these trying And is -- these predetermined approaches. we've focus certain but to initially so to approaches being of used. certain or osteotomies. we're of your earlier, surgeons surgeons we're that natural go a on But

And business. a current their large so really hope to we of share get

Benjamin Haynor

segues lot that second that my of classes And X the does made change a there sense. any of of activities? to be How Are new kind of it kind alter into makes sub-segments need marketing all? question. your That at direct-to-patient Does there? the that Okay. bunions, adjustments messaging

John Treace

great question. That's a

the to making as We and Lapiplasty have helping uptake, more gain there. definitely them message, traction the have have patients aware, on these pretty driving approaches before. now connect definitely front. that on we take We've opportunities did different opportunity that doctors we some But technologies see we with get and educated not concentrated the been

Benjamin Haynor

Okay.

sneak more. if And tuned. could in then stay So one I

about you rates on talked Any the attach and think XX%. time siblings? SpeedPlate Just last over any it update there? I for was update

John Treace

now And become to of larger continue of share, north more our Yes, to fixation It opportunity grow it XX% a is become popular. continues mix. overall will do the sure. SpeedPlate much then to it and has so.

out a for We there other exciting standard are implant opportunistic really indications. SpeedPlate it's in and the fixation it's new and next-generation marketplace serving a of fusion technology working for on We in bone new configurations setting us. designs think

Operator

back questions turn remarks. further Vivian to time. no over showing it closing at will for I I'm this now

Vivian Cervantes

look of everybody, Thank On of quarter operator. Treace following our This thank the our we the Medical, you, you, close XXXX. call and us next first concludes joining to forward today. behalf update for

Operator

Thank your conclude you participation the today's This for does conference. program. in

may You disconnect. now

Treace Medical Concepts (TMCI) 27 Feb 252024 Q4 Earnings call transcript