TREACE MEDICAL CONCEPTS, INC.
For the period ended Dec 31, 2025. Filed Feb 27, 2026.
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FY2025 · Filed Feb 27, 2026
TMCI$4.03-3.6%Stored close · as of Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Cash flows from operating activities | |||
| Net loss | $(59,002) | $(55,743) | $(49,527) |
| Adjustments to reconcile net loss to net cash provided by (used in) operating activities | |||
| Depreciation and amortization expense | 10,623 | 8,419 | 5,352 |
| Provision for allowance for credit losses | 834 | 2,947 | 434 |
| Share-based compensation expense | 33,823 | 30,603 | 17,352 |
| Non-cash lease expense | 2,222 | 2,349 | 2,461 |
| Amortization of debt issuance costs | 292 | 298 | 297 |
| Debt extinguishment loss | 2,737 | — | — |
| Amortization (accretion) of premium (discount) on marketable securities, net | (123) | (1,145) | (1,406) |
| Other, net | 1,208 | 538 | 205 |
| Net changes in operating assets and liabilities, net of acquisitions | |||
| Accounts receivable | (2,090) | (5,687) | (9,301) |
| Inventory | 3,224 | (10,010) | (9,848) |
| Prepaid expenses and other assets | 166 | 2,186 | (1,210) |
| Other non-current assets | (503) | (330) | — |
| Operating lease liabilities | (3,207) | (2,473) | (119) |
| Accounts payable | (3,796) | (1,313) | 3,167 |
| Accrued liabilities | (2,413) | (7,903) | 7,528 |
| Other, net | 35 | 97 | 40 |
| Net cash provided by (used in) operating activities | (15,970) | (37,167) | (34,575) |
| Cash flows from investing activities | |||
| Purchases of available-for-sale marketable securities | (40,571) | (71,579) | (169,865) |
| Sales and maturities of available-for-sale marketable securities | 67,339 | 118,547 | 120,024 |
| Purchases of property and equipment | (13,517) | (11,593) | (11,458) |
| Acquisition, net of cash acquired | — | — | (20,000) |
| Net cash provided by (used in) investing activities | 13,251 | 35,375 | (81,299) |
| Cash flows from financing activities | |||
| Proceeds from interest bearing term debt | 59,310 | — | — |
| Proceeds from insurance premium financing | 1,553 | — | — |
| Debt issuance costs | (1,199) | — | — |
| Payments on interest bearing term and revolving debt | (56,315) | — | — |
| Payments on insurance premium financing | (916) | — | — |
| Proceeds from issuance of common stock from public offering, net of issuance costs and underwriting discount of $7.5 million | — | — | 107,527 |
| Proceeds from exercise of employee stock options | 546 | 428 | 1,869 |
| Taxes from withheld shares | (902) | (268) | (13) |
| Net cash provided by (used in) financing activities | 2,077 | 160 | 109,383 |
| Net increase (decrease) in cash and cash equivalents | (642) | (1,632) | (6,491) |
| Cash and cash equivalents at beginning of period | 11,350 | 12,982 | 19,473 |
| Cash and cash equivalents at end of period | $10,708 | $11,350 | $12,982 |
| Supplemental disclosure of cash flow information | |||
| Cash paid for interest | $4,997 | $4,955 | $5,167 |
| Operating lease right-of-use asset and lease liability adjustment due to lease incentive | $— | $8 | $(22) |
| Noncash investing activities | |||
| Unrealized (gains) losses, net on marketable securities | $25 | $66 | $(190) |
| Unsettled matured marketable security and receivable from broker | $— | $— | $3,000 |
| Noncash portion of internally developed software | $— | $— | $(11) |
| Noncash financing activities | |||
| Legal cost financing | $1,108 | $— | $— |
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