Treace Medical Concepts reports smaller-than-expected Q1 loss and revenue beat, though sales decline 10.3% year-over-year.
Treace Medical Concepts posted a first-quarter GAAP loss of $0.28 per share, narrower than the expected loss by $0.03. Revenue reached $47.2 million, surpassing estimates by $1.15 million despite a 10.3% year-over-year decline.
Gross profit for the quarter totaled $37.4 million, down from $41.9 million in the same period last year. The company did not provide additional forward guidance in the release.
Shares showed limited movement in after-hours trading following the announcement.