Filing Flows

Filing Flows › Companies › Treace Medical Concepts › Cash flow

Treace Medical Concepts cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow−$5.4M in Q3 2026 · −$18.6M over twelve months

Operating cash flow−$3.3M
Capital spending−$2.2M
Free cash flow−$5.4M
Cash conversion cycle295 days

Analysis

In Q3 2026, Treace Medical Concepts generated −$3.3M of operating cash flow and spent $2.2M on capital projects, leaving free cash flow of −$5.4M. That is $6.5M more than in Q3 2025 (−$11.9M).

Over the twelve months to Sep 30, 2026, operating cash flow was −$8.7M; the largest uses were capital spending ($9.8M), operating cash flow ($8.7M); besides operations, cash came from other investing ($17.5M), other financing ($978K); the cash balance rose by $74K.

Operating cash flow was −$3.3M against net income of −$12.6M. The largest differences: stock-based pay +$6.9M, accrued liabilities +$4.2M, inventory −$2.8M.

Its cash conversion cycle was 295 days (receivables 56 + inventory 380 − payables 141).

Free cash flow

Treace Medical Concepts: free cash flow by quarterTreace Medical Concepts: free cash flow by quarter−$7.3MQ4 2024$655KQ1 2025−$7.8MQ2 2025−$11.9MQ3 2025−$10.4MQ4 2025$4.2MQ1 2026−$6.9MQ2 2026−$5.4MQ3 2026
Operating cash flow less capital spending.
Treace Medical Concepts: operating cash flow against capital spendingTreace Medical Concepts: operating cash flow against capital spendingOperating cash flowCapital spending−$4.2M$3.1MQ4 2024$4.2M$3.5MQ1 2025−$3.0M$4.8MQ2 2025−$9.1M$2.8MQ3 2025−$8.0M$2.4MQ4 2025$7.2M$3.1MQ1 2026−$4.7M$2.2MQ2 2026−$3.3M$2.2MQ3 2026
Latest (Q3 2026): Operating cash flow −$3.3M, Capital spending $2.2M.

Capital allocation, year by year

Treace Medical Concepts: where the cash came from (up) and went (down), by fiscal yearTreace Medical Concepts: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedCapital spendingAcquisitionsFY2021: Operating cash flow −$17.2MFY2021: Net borrowing −$1.8MFY2021: Shares issued $109MFY2021: Capital spending −$2.7M$109MFY2021FY2022: Operating cash flow −$30.6MFY2022: Shares issued $2.2MFY2022: Capital spending −$14.8M$2.2MFY2022FY2023: Operating cash flow −$34.6MFY2023: Shares issued $109MFY2023: Capital spending −$11.5MFY2023: Acquisitions −$20.0M$109MFY2023FY2024: Operating cash flow −$37.2MFY2024: Shares issued $428KFY2024: Capital spending −$11.6M$428KFY2024FY2025: Operating cash flow −$16.0MFY2025: Shares issued $546KFY2025: Capital spending −$13.5M$546KFY2025
Over these 5 years operating cash flow totalled −$136M; the largest uses were operating cash flow ($136M) and capital spending ($54.1M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$39.8M
Debt$60.0M
Net debt$20.2M
Cash runway2.1 years

Treace Medical Concepts is burning cash: its operations consume cash, a free cash flow of −$18.6M a year at the current rate against $39.8M of cash and investments: a runway of about 2.1 years before any new financing.

Where the cash came from and went

Treace Medical Concepts: sources (+) and uses (−) of cash, Q3 2026Treace Medical Concepts: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$4.8MOperating cash flow−$3.3MCapital spending−$2.2MOther investing$911KTaxes on employees’ shares−$408KOther financing$65KShares issued$8K
Treace Medical Concepts: sources (+) and uses (−) of cash, TTM to Q3 2026Treace Medical Concepts: sources (+) and uses (−) of cash, TTM to Q3 2026Other investing$17.5MCapital spending−$9.8MOperating cash flow−$8.7MOther financing$978KShares issued$177KCash drawn (+) / kept (−)−$74K

From profit to cash

Treace Medical Concepts: net income to operating cash flow, Q3 2026Treace Medical Concepts: net income to operating cash flow, Q3 2026Net income−$12.6MDepreciation & amortization$2.0MStock-based pay$6.9MOther non-cash$383KReceivables−$1.6MInventory−$2.8MPayables−$1.8MAccrued liabilities$4.2MPrepaid and other assets$196KOther operating capital$113KOperating cash flow−$3.3M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.
QuarterReceivable daysInventory daysPayable daysCash conversion cycle
Q3 202656380141295
Q2 202659354138275
Q1 20266933393309
Q4 20255529487263
Q3 202558367158267
Q2 202559379157282
Q1 202562325100287
Q4 202444288101230

Every quarter

QuarterOperating cash flowCapital spendingShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026−$3.3M−$2.2M$8K$4.8M−$5.4M
Q2 2026−$4.7M−$2.2M$8K−$3.1M−$6.9M
Q1 2026$7.2M−$3.1M$91K$1.2M$4.2M
Q4 2025−$8.0M−$2.4M$70K−$3.0M−$10.4M
Q3 2025−$9.1M−$2.8M$241K$366K−$11.9M
Q2 2025−$3.0M−$4.8M$116K$5.3M−$7.8M
Q1 2025$4.2M−$3.5M$119K−$2.0M$655K
Q4 2024−$4.2M−$3.1M$57K$760K−$7.3M

Treace Medical Concepts: income statement and cash flow

Treace Medical Concepts, Q3 2026: revenue $48.3M (-4% year over year), operating margin -23.9%. The chart follows the revenue to costs, profit and cash.

Treace Medical Concepts: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.