TREACE MEDICAL CONCEPTS INC
For the period ended Dec 31, 2023. Filed Feb 27, 2024.
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FY2023 · Filed Feb 27, 2024
TMCI$4.78+18.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities | |||
| Net loss | $(49,527) | $(42,815) | $(20,552) |
| Adjustments to reconcile net loss to net cash used in operating activities | |||
| Depreciation and amortization expense | 5,352 | 2,133 | 685 |
| Provision for allowance for doubtful accounts | 434 | 411 | 144 |
| Share-based compensation expense | 17,352 | 8,111 | 3,409 |
| Non-cash lease expense | 2,461 | 2,522 | — |
| Amortization of debt issuance costs | 297 | 244 | 176 |
| Gain on fair value adjustment to derivative liability | — | (173) | (72) |
| Debt extinguishment loss | — | 4,483 | — |
| Loss on impairment of long-lived assets | — | 346 | — |
| Accretion (amortization) of discount (premium) on marketable securities, net | (1,406) | (126) | — |
| Other, net | 205 | 25 | — |
| Net changes in operating assets and liabilities, net of acquisitions: | |||
| Accounts Receivable | (9,301) | (11,039) | (4,226) |
| Inventory | (9,848) | (8,769) | (2,741) |
| Prepaid expenses and other assets | (1,210) | (668) | (2,417) |
| Other non-current assets | — | (146) | — |
| Other liabilities | (119) | 3,076 | — |
| Accounts payable | 3,167 | 4,612 | 1,791 |
| Accrued liabilities | 7,528 | 7,125 | 6,610 |
| Other, net | 40 | — | — |
| Net cash used in operating activities | (34,575) | (30,648) | (17,193) |
| Cash flows from investing activities | |||
| Purchases of available-for-sale marketable securities | (169,865) | (63,409) | — |
| Sales and maturities of available-for-sale marketable securities | 120,024 | 1,729 | — |
| Purchases of property and equipment | (11,458) | (14,838) | (2,705) |
| Acquisition, net of cash acquired | (20,000) | — | — |
| Net cash used in investing activities | (81,299) | (76,518) | (2,705) |
| Cash flows from financing activities | |||
| Proceeds from interest bearing term debt | — | 49,651 | — |
| Proceeds from interest bearing revolving debt | — | 3,850 | — |
| Debt issuance costs | — | (989) | — |
| Payments on interest bearing debt | — | (33,893) | — |
| Payments on PPP Loan | — | — | (1,788) |
| Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million and $10.6 million | 107,527 | — | 107,610 |
| Proceeds from exercise of employee stock options | 1,869 | 2,187 | 1,830 |
| Taxes from withheld shares | (13) | — | — |
| Net cash provided by financing activities | 109,383 | 20,806 | 107,652 |
| Net decrease in cash and cash equivalents | (6,491) | (86,360) | 87,754 |
| Cash and cash equivalents at beginning of period | 19,473 | 105,833 | 18,079 |
| Cash and cash equivalents at end of period | $12,982 | $19,473 | $105,833 |
| Supplemental disclosure of cash flow information: | |||
| Cash paid for interest | $5,167 | $4,398 | $3,900 |
| Operating lease right-of-use assets obtained in exchange for new lease liabilities | $— | $15,300 | $— |
| Operating lease right-of-use asset and lease liability adjustment due to lease incentive | $(22) | $3,615 | $— |
| Noncash investing activities: | |||
| Unrealized (gains) losses on marketable securities | $(190) | $27 | $— |
| Unsettled matured marketable security and receivable from broker | $3,000 | $— | $— |
| Noncash portion of internally developed software | $(11) | $— | $— |
| Noncash financing activities: | |||
| Issuance of common stock upon exercise of warrants | $— | $— | $1 |
| Conversion of convertible preferred stock and accrued dividends on convertible preferred stock into common stock | $— | $— | $7,935 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.