Filing Flows › Treace Medical Concepts (TMCI) › Q1 2026
Treace Medical Concepts (TMCI) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Treace Medical Concepts (TMCI) reported revenue of $47.2M for the first quarter 2026 (Q1 2026), -10% from a year earlier and -25% from the quarter before. Operating margin was -36.4%, net loss $18.0M (38.1% of revenue).
Treace Medical Concepts, Q1 2026: revenue $47.2M (-10% year over year), operating margin -36.4%, net loss $18.0M, operating cash flow $7.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.2M | -25% | -10% |
| Operating profit | −$17.2M | — | — |
| Net earnings | −$18.0M | — | — |
| Operating cash flow | $7.2M | — | +72% |
| Free cash flow | $4.2M | — | +538% |
What changed
Revenue was $47.2M in Q1 2026, down 10% year over year and down 25% from the previous quarter.
Gross margin was 79.3%, down 0.4 points from Q1 2025. Operating costs exceeded revenue by $17.2M, an operating margin of -36.4%. Operating expenses fell 5% while revenue fell 10%. The quarter ended with a net loss of $18.0M, wider than the previous quarter's $9.4M loss.
Operating cash flow was $7.2M (up 72% year over year). Non-cash charges added back $899K of depreciation and amortization and $8.0M of share-based compensation. Working capital and other items added $16.3M. Capital expenditures of $3.1M left free cash flow of $4.2M.
Questions
What was Treace Medical Concepts' revenue in the first quarter 2026?
Treace Medical Concepts (TMCI) reported revenue of $47.2M for the first quarter 2026 (Q1 2026), -10% from a year earlier and -25% from the quarter before.
Was Treace Medical Concepts profitable in the first quarter 2026?
Operating loss was $17.2M (-36.4% of revenue) and net loss $18.0M.