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Alphatec (ATEC) - 2024 Q2 - Quarterly Results
2024-07-31 20:20
Exhibit 99.1 ATEC Reports Second Quarter 2024 Financial Results And Raises Full-Year Guidance Surgical revenue grew 27% and drove total revenue growth of 25% to $146 million Full-year revenue and profitability guidance increased CARLSBAD, Calif., July 31, 2024 – Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, today announced financial results for the quarter ended June 30, 2024, and recent corporate highlights. Second Qua ...
Alphatec's (ATEC) New EOS Insight System to Boost Spine Care
ZACKS· 2024-07-25 17:01
Alphatec (ATEC) recently announced the commercial launch of its EOS Insight, a groundbreaking, end-to-end spine surgery platform powered by standardized EOSedge scans and artificial intelligence (AI).Following the successful completion of the first customer implementation, David G. Schwartz and Craig McMains carried out the EOS Insight-informed surgeries at OrthoIndy Hospital. By modernizing surgery and displacing antiquated clinical procedures, EOS Insight enhances patient outcomes. The system's developmen ...
Alphatec (ATEC) - 2024 Q1 - Earnings Call Transcript
2024-05-08 03:47
Alphatec Holdings, Inc. (NASDAQ:ATEC) Q1 2024 Earnings Conference Call May 7, 2024 4:30 PM ET Company Participants Patrick Miles - Chairman and CEO Todd Koning - CFO Conference Call Participants Joshua Jennings - TD Cowen David Saxon - Needham Vik Chopra - Wells Fargo Sean Lee - H.C. Wainwright Young Li - Jefferies Operator Good afternoon everyone and welcome to the webcast of ATEC’s First Quarter Financial Results. We would like to remind everyone that participants on the call will make forward-looking sta ...
Alphatec (ATEC) - 2024 Q1 - Quarterly Report
2024-05-07 20:59
Table of Contents Securities registered pursuant to Section 12(b) of the Act: UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 000-52024 ALPHATEC HOLDINGS, INC. (Exact name of regi ...
Alphatec (ATEC) - 2024 Q1 - Quarterly Results
2024-05-07 20:20
Exhibit 99.1 ATEC Reports First Quarter 2024 Financial Results And Raises Full-Year Guidance Total revenue grew 27% to $138 million, with 30% growth in surgical revenue Adjusted EBITDA margin expanded 450 basis points Full-year revenue and adjusted EBITDA guidance increased to $601 million and $23 million, respectively CARLSBAD, Calif., May 7, 2024 – Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, today announced financia ...
Alphatec (ATEC) - 2023 Q4 - Earnings Call Transcript
2024-02-28 04:01
Financial Data and Key Metrics Changes - Total revenue for 2023 was $482 million, reflecting a 37% growth compared to 2022 [3][23] - Adjusted EBITDA expanded by 890 basis points year-over-year, with a loss of $9 million for the full year 2023, an improvement of $29 million compared to 2022 [32][27] - Fourth quarter total revenue was $138 million, a 30% increase year-over-year and a 17% increase compared to the prior quarter [22][23] - Non-GAAP gross margin for the fourth quarter was 70%, up 310 basis points year-over-year [28] Business Line Data and Key Metrics Changes - Surgical revenue for 2023 was $423 million, a 40% increase compared to the previous year, with procedural volume growing by 31% [23][24] - Fourth quarter surgical revenue was $123 million, a 34% increase year-over-year, with procedural volume growth of 29% [22][23] - EOS revenue for 2023 was $59 million, a 24% increase compared to 2022, with fourth quarter EOS revenue at $15 million, up 5% year-over-year [24][22] Market Data and Key Metrics Changes - The company has increased its market share from approximately 1% to over 5% in the spine market, with some regions achieving up to 25% market share [4][12] - The market is characterized as 35% disrupted and 60% apathetic, presenting opportunities for growth [12] Company Strategy and Development Direction - The company aims to create clinical distinction to drive surgeon adoption and expand its product portfolio, with a commitment to launch 8 to 10 products per year [5][8] - Focus on expanding the lateral franchise, which addresses a $3 billion market opportunity, and integrating advanced technologies like SafeOp and robotic systems [7][14] - Plans to enhance the cervical portfolio and introduce 3D printed implants, along with the integration of navigated robotic elements [62][63] Management's Comments on Operating Environment and Future Outlook - Management expressed enthusiasm about the current market dynamics and the company's growth trajectory, emphasizing the importance of long-term strategies [12][39] - The company expects continued revenue growth of 23% in 2024, with surgical revenue projected to grow by approximately 25% [34][35] - Confidence in achieving cash flow breakeven by 2025, supported by a well-funded balance sheet and ongoing investments in revenue-generating assets [33][38] Other Important Information - The company raised $150 million in capital to support growth initiatives [4] - Adjusted EBITDA guidance for 2024 is approximately $22 million, including an $18 million provision for excess and obsolete inventory [35][36] Q&A Session Summary Question: Update on rep hiring cadence and market disruption - Management indicated that 94% of the market remains disruptive, and the hiring process is methodical, focusing on areas of greatest need [44] Question: Guidance on revenue cadence throughout the year - Revenue is considered a lag indicator, with expectations for a typical seasonal pattern in revenue growth throughout the year [49] Question: Insights on training and demand for ATEC products - There is a mix of new and returning surgeons, with significant interest in lateral surgeries and expanded applications [52][53] Question: Expectations for international contributions to revenue - International markets like Australia and New Zealand are starting to contribute, with Japan expected to show early revenue reflections [68][70] Question: Launch metrics for the updated EOS platform - Everything is on track for the EOS platform rollout in Q2 2024, with enthusiasm for the technology and its integration into workflows [71][73] Question: Achieving market share in key markets - The company highlighted that achieving higher market share often depends on establishing a strong lateral business and building relationships with surgeons [76]
Alphatec (ATEC) Reports Q4 Loss, Tops Revenue Estimates
Zacks Investment Research· 2024-02-27 23:41
Alphatec (ATEC) came out with a quarterly loss of $0.37 per share versus the Zacks Consensus Estimate of a loss of $0.28. This compares to loss of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -32.14%. A quarter ago, it was expected that this medical equipment and supplies holding company would post a loss of $0.30 per share when it actually produced a loss of $0.35, delivering a surprise of -16.67%.Over the last four ...
ATEC Reports Fourth Quarter and Full-Year 2023 Financial Results and Recent Corporate Highlights
Businesswire· 2024-02-27 21:01
CARLSBAD, Calif.--(BUSINESS WIRE)--Alphatec Holdings, Inc. (Nasdaq: ATEC), a provider of innovative solutions dedicated to revolutionizing the approach to spine surgery, today announced financial results for the quarter and full year ended December 31, 2023, and business highlights. Fourth Quarter and Full Year 2023 Financial Results Quarter EndedDecember 31, 2023 Year EndedDecember 31, 2023 Total revenues $ 138   $ 482   GAAP gross margin   69.0 %   64.3 % Non- ...
Alphatec (ATEC) - 2023 Q4 - Annual Report
2024-02-26 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 Form 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 000-52024 ALPHATEC HOLDINGS, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 20-2463898 (State or Other Jurisdiction o ...
Alphatec Holdings: Taking Market Share Amid Strong Execution - Buy
Seeking Alpha· 2024-02-12 09:21
Natali_Mis Note: I have discussed Alphatec Holdings, Inc. (NASDAQ:ATEC) previously, so investors should view this article as an update to my earlier coverage of the company. Introduction / Discussion Of Past Performance Alphatec Holdings, Inc. or "ATEC" is a medical technology company that designs, develops, and advances technologies for the surgical treatment of spinal disorders. In recent years, ATEC has outperformed expectations on a regular basis and successfully grown market share. Company Presenta ...