Filing Flows › Treace Medical Concepts (TMCI) › Q2 2025
Treace Medical Concepts (TMCI) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 7, 2025
Treace Medical Concepts (TMCI) reported revenue of $47.4M for the second quarter 2025 (Q2 2025), +7% from a year earlier and -10% from the quarter before. Operating margin was -35.8%, net loss $17.4M (36.7% of revenue).
Treace Medical Concepts, Q2 2025: revenue $47.4M (+7% year over year), operating margin -35.8%, net loss $17.4M, operating cash flow −$3.0M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $47.4M | -10% | +7% |
| Operating profit | −$17.0M | — | — |
| Net earnings | −$17.4M | — | — |
| Operating cash flow | −$3.0M | -173% | — |
What changed
Revenue was $47.4M in Q2 2025, up 7% year over year and down 10% from the previous quarter.
Gross margin was 79.7%, down 0.6 points from a year earlier. Operating costs exceeded revenue by $17.0M, an operating margin of -35.8%. Operating expenses fell 4% while revenue rose 7%. The fastest-growing cost line was General & admin (+14%). The quarter ended with a net loss of $17.4M, wider than the previous quarter's $15.9M loss.
Operating cash flow was −$3.0M. Non-cash charges added back $2.6M of depreciation and amortization and $9.6M of share-based compensation. Working capital and other items added $2.2M. Capital expenditures of $4.8M exceeded it, leaving free cash flow of −$7.8M.
Questions
What was Treace Medical Concepts' revenue in the second quarter 2025?
Treace Medical Concepts (TMCI) reported revenue of $47.4M for the second quarter 2025 (Q2 2025), +7% from a year earlier and -10% from the quarter before.
Was Treace Medical Concepts profitable in the second quarter 2025?
Operating loss was $17.0M (-35.8% of revenue) and net loss $17.4M.