Treace Medical Concepts rises on preliminary Q4 revenue beat

Treace Medical Concepts

08/01/2024 14:00

** Shares of medical device maker Treace Medical Concepts
 TMCI.O  rise 5.05% to $12.5 premarket 
    ** TMCI reported preliminary revenue of $61.8 mln to $62.2
mln in Q4 of 2023, beating analysts estimates of ~$59 mln- LSEG
data 
    ** Co also reported FY23 preliminary revenue of $186.7 mln
to $187.1 mln, above the high end of the previously provided 
guidance range of $182 mln to $186 mln
    ** Says sold a record high of its Lapiplasty procedure kit
in the fourth quarter 
    ** Stock fell 44.5% in 2023; shares plunged to a record low
in Nov. 2023 after it reported weaker-than-expected quarterly
results and cut its 2023 rev outlook
    

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))