Tbdisasm is a trace-based disassembler developed by GrammaTech that addresses limitations of static disassemblers when analyzing certain binary types. The tool handles dynamically loaded code, obfuscated binaries, and packed binaries, which are commonly found in malware. The disassembler operates by instrumenting and tracing a binary's execution, then constructing its disassembly based on the collected execution information. This dynamic approach differs from traditional static disassemblers like Ghidra and ddisasm, which may encounter challenges with these types of targets. Tbdisasm produces output in GTIRB (GrammaTech Intermediate Representation for Binaries) format. This representation enables compatibility with GrammaTech's binary analysis and transformation tooling ecosystem. The tool is designed for security analysts and researchers who need to analyze complex binaries that employ anti-analysis techniques such as obfuscation and packing. By using execution traces rather than purely static analysis, Tbdisasm can reveal code that would otherwise remain hidden from traditional disassemblers.