Financial Performance - U.S product revenue increased to $43 million in Q4 2020, a 38% year-over-year growth, and reached $141 million for the full year 2020, a 30% increase compared to 2019[35] - Total revenue reached $44 million in Q4 2020, a 36% year-over-year growth, and $145 million for the full year 2020, a 28% increase compared to 2019[35] - Non-GAAP gross margin was 76% in Q4 2020 and 77% for the full year 2020[36] - R&D expenses increased to $47 million in Q4 2020, a 46% year-over-year growth, and reached $166 million for the full year 2020, a 30% increase compared to 2019[38] - Strategic channel drives 95% of sales[31] Growth Drivers and Initiatives - New product revenue contribution reached 75% in Q4 2020[6, 14] - Average revenue per case grew by 13% year-over-year[6, 24] - Revenue per surgeon increased by 15% year-over-year[6, 24] - The company is advancing towards exclusive U S distribution[11] Future Outlook - U S revenue for FY 2021 is projected to be approximately $176 million, representing a 25% year-over-year growth[41] - Total revenue for FY 2021 is expected to be around $178 million, a 23% increase year-over-year[41]

Financial Performance & Growth - ATEC experienced a sector-leading revenue Compound Annual Growth Rate (CAGR) of approximately 40% over 5 years, driven by market share expansion[4] - Total revenue for 2023 reached $482 million, representing a 37% year-over-year increase[7] - Surgical revenue in 2023 was $423 million, a 39% increase year-over-year[7] - EOS revenue for 2023 amounted to $59 million, reflecting a 24% year-over-year growth[7] - The company projects 2024 revenue to be $595 million, indicating a 24% growth[8] Market Position & Strategy - ATEC is focused on an $8 billion spine market[4] - The company's strategy involves meeting unmet needs in spine surgery through clinical distinction[19] - ATEC is a 100% spine-focused company, differentiating it from larger, less focused competitors[17, 20] - ATEC aims to achieve cash flow break-even in 2025, supporting self-funded future growth[4] Innovation & Technology - ATEC is integrating unprecedented information into spine care with enabling technology[19] - The company is advancing deformity treatment with procedural sophistication[19] - ATEC is developing the EOS Catalyst, expected in mid-2024, to automate alignment reports and surgical planning[72, 73]