Treace Medical at JPM: Spotlight on Innovation Amid Investor Scrutiny

PONTE VEDRA, Fla. – December 30, 2025 – Treace Medical Concepts, a company that has sought to revolutionize bunion surgery, is preparing for a pivotal moment under the bright lights of the investment community. The medical technology firm announced that its CEO, John T. Treace, will present at the prestigious 44th Annual J.P. Morgan Healthcare Conference on January 14, 2026. The early morning fireside chat offers a critical platform for the company to articulate its strategy and reassure investors after a challenging year.

While participation in the conference is a staple for major healthcare players, for Treace Medical (NasdaqGS: TMCI), the stakes are particularly high. The presentation will be scrutinized for answers on how the company plans to navigate increasing competition, evolving surgeon preferences, and macroeconomic pressures that have recently tempered its growth outlook.

Navigating a Shifting Market

Investors will be listening intently for a narrative that looks beyond the company's recent financial turbulence. In its third-quarter 2025 report, Treace posted revenue of $50.2 million, an 11% year-over-year increase that beat consensus estimates. The company also showed progress toward profitability, with its adjusted EBITDA loss narrowing by 49% compared to the prior year. However, this positive data was overshadowed by a significant downward revision of its full-year 2025 revenue guidance.

Treace now projects annual revenue between $211 million and $213 million, a stark reduction from its previous forecast of $224 million to $230 million. The company attributed the lowered expectations to several headwinds: a notable market shift toward minimally invasive surgery (MIS) techniques, heightened competition, and softer consumer demand for elective procedures like bunion surgery amid economic uncertainty. A recent survey highlighted a 7% year-over-year decline in surgeon bunion surgical volumes through October 2025, underscoring the challenging environment.

This guidance adjustment has not gone unnoticed by Wall Street. The consensus rating among analysts has drifted towards "Hold" or "Reduce," with an average price target that, while suggesting significant upside from its current trading price, reflects caution about the company's near-term trajectory. Mr. Treace’s presentation will be his opportunity to directly address these concerns and paint a clearer picture of the path back to robust growth.

A Portfolio Built for the Future?

Central to Treace's recovery story is its strategic pivot from a single-product focus to a diversified portfolio. The company's flagship Lapiplasty® 3D Bunion Correction® System was a game-changer, pioneering a method designed to correct the bunion deformity in all three dimensions and address the unstable joint at the root of the problem. This approach has been supported by a growing body of clinical evidence, including the ALIGN3D™ study showing low recurrence rates and significant pain improvement four years post-procedure.

However, as the market increasingly favors less invasive techniques, Treace has been forced to adapt. The company's response has been to build out a comprehensive surgical arsenal. It has launched the Nanoplasty® and Percuplasty™ systems, both designed to cater to the demand for minimally invasive bunion correction. This expansion aims to capture surgeons who prefer different techniques, rather than cede that market share to competitors.

Beyond MIS bunion solutions, the portfolio now includes the Adductoplasty® System for related midfoot deformities and the SpeedMTP® fusion system. Furthermore, the company is venturing into digital health and patient-specific solutions with its IntelliGuide™ technology, which provides pre-operative planning and custom surgical guides. This diversification is the cornerstone of the company’s argument that it can meet the needs of any surgeon treating bunion deformities, regardless of their preferred approach.

The Crowded Field of Foot and Ankle Innovation

Treace does not operate in a vacuum. The global foot and ankle devices market is a dynamic and lucrative space, valued at over $5.4 billion in 2024 and projected to grow at a healthy compound annual growth rate of over 8%. This growth has attracted a host of formidable competitors, including orthopedic giants like Stryker, Zimmer Biomet, and DePuy Synthes (a Johnson & Johnson company), as well as specialized players like Arthrex and Paragon 28.

The industry-wide trend toward minimally invasive surgery is a key battleground. Competitors have established strong positions in this segment, with Stryker's Prostep device and Arthrex's MIS Bunionectomy System gaining traction among surgeons. Treace's new Nanoplasty® and Percuplasty™ systems are a direct answer to this competitive pressure, but they are entering a crowded field where brand loyalty and established training programs are significant moats.

Success in this market requires more than just innovative implants; it demands extensive surgeon training programs, compelling long-term clinical data, and sophisticated sales and marketing operations. Treace’s ability to effectively commercialize its expanded portfolio and prove its clinical and economic value against well-entrenched competitors will be a key determinant of its future success.

Why the J.P. Morgan Spotlight Matters

For a company at Treace's current juncture, the J.P. Morgan Healthcare Conference is more than just a presentation—it is a bellwether event. It provides a unique opportunity to shape the narrative directly with the institutional investors, analysts, and potential partners who influence market perception and capital access. The themes expected to dominate the 2026 conference—AI-driven MedTech, the value of robust clinical evidence, and the pursuit of profitable growth—align directly with the story Treace needs to tell.

Industry watchers will be looking for CEO John T. Treace to provide a confident and detailed strategy for how the company will leverage its broader portfolio to re-accelerate revenue growth. Key questions will revolve around the adoption rates of its new MIS systems, the strategy to defend and grow its Lapiplasty® franchise, and a clear timeline toward achieving profitability. The presentation will serve as a crucial test of whether the market buys into Treace’s vision of becoming a comprehensive solutions provider for all foot and ankle deformities, capable of weathering market shifts and outmaneuvering a growing list of competitors.