Excision for K-theory of connective ring spectra

We extend Geisser and Hesselholt’s result on ``bi-relative K-theory’’ from discrete rings to connective ring spectra. That is, if $\mathcal{A}$ is a homotopy cartesian $n$-cube of ring spectra (satisfying connectivity hypotheses), then the $(n+1)$-cube induced by the cyclotomic trace $$K(\mathcal{A})\to TC(\mathcal{A})$$ is homotopy cartesian after profinite completion. In other words, the fiber of the profinitely completed cyclotomic trace satisfies excision.